7 Common Mistakes of a Sports Bettor

Avoid these sports betting mistakes to better enjoy the ride

Betting Tips » Sports Betting Tips » 7 Common Mistakes of a Sports Bettor
10 mistakes of a sport bettor
10 mistakes of a sport bettor

7 Common Mistakes of a Sports Bettor

  1. Betting With Your Heart, Not Your Head

  2. Seeking Higher Payouts From Accumulators

  3. Bankroll Management Fail

  4.  Not looking for the Best Odds

  5. Betting While Drunk

  6. Preferring Betting on Favorites and Overs

  7. Tilting, Chasing, Losing

1) Betting With Your Heart, Not Your Head

While it’s fun to put a few $ down on your favorite team, please note the “fun” and “$” portion of this sentence. Rooting for the home team is one thing; willing to lose money on them is a whole other thing.

In short: Don’t let your personal favorites hinder your sports betting research.

Check your home squad biases!

2) Seeking Higher Payouts From Accumulators

Accumulators (Accas) are bookmakers’ best friends. They bring in the most profit. 

And they are so very, very tempting.

Putting together two, three, four, five, or more bets into one acca — and watching that “if you win” number climb exponentially — is fun.

So why beware? Well, for starters, the odds aren’t in your favor. Literally. You might think you put two bets together, you get better odds. But you don’t. So to be clear: While your odds increase with each successive bet, the individual odds that go into the whole bet shrink up. In short: Accas aren’t worth the money.

But they are fun, which is why we recommend going easy! A few bucks here and there, no big deal. But chasing down six-figure takedowns is a fool’s errand.

betting money management
betting money management

3) Bankroll Management

Bankroll management is crucial for sports bettors of every experience level. It’s something beginners probably think little about, if at all. Even if you’re only a “recreational” bettor who’s looking for entertainment, discipline will make your bucks go a much longer way.

Put in place a certain set of rules, such as setting cap limits (the max amount you’ll wager on any day), and determining the size of your sports betting “unit.” A unit refers to the standard size of your wager, often connected to a percentage of your overall bankroll. For example, if your bankroll is $400, based on 5 percent, one unit for you would be $20. Let’s say you feel especially strong about a game or side, you could bump up your wager to three units, or $60.

4)  Not looking for the Best Odds

Before you place a wager, you owe yourself the few minutes it will take to make sure you’re getting not only the best number, but also the best odds.

It always makes sense to shop the best odds. Maybe it saves you a dollar here, makes you a dollar there. Those dollars add up, and can even be the difference between a profitable year and a not-profitable year. Don’t get married to any one sportsbook; use multiple sportsbooks and always look for the highest odds.

5) Betting While Drunk

Seriously: If you know you’re going to be drinking, it’s best to also keep your fingers off the “place bet” button. 

6) Dont Prefer Betting on Favorites and Overs

There’s probably some psychology behind it. Public loves to bet the favorites, and they love to be the overs. I guess it makes sense: Who wants to root for an under? We want to see points! And favorites are favored for a reason: They are subjectively, and often objectively, the better team. Unless you have true conviction, betting an underdog feels … well, “squishy” is the word that comes to mind for some reason, psychoanalyze that and get back to us.

Consider betting the underdogs and the unders, for starters, with the notion you’re probably getting the good side of the deal. Underdogs and unders should not be ignored.

betting rules
betting rules

7) Tilting, Chasing, Losing

Losing sucks. Let’s get that out of the way.

To be clear: The best sports bettors are losing about 55 percent of the time. So when you lose — and you will lose — you have to remember that you are not alone.

Tilting leads to chasing, chasing leads to losing.

If you lost a bet and feel the need to try and recoup that money immediately, the best advice is also the simplest: Don’t. There’s always tomorrow, there’s always another game. Don’t lose your head and start trying to recapture what you lost. Sure, you might win that second bet and get square, but you’re equally, if not more, likely to lose and now you’re in a big hole.

No tilting, no chasing. Those should be your house rules.

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