While there are many good strategies on top of the five that we’ve broken down for you, there are also a lot of bad strategies that will have punters on a quest for fool’s gold. Here are some common betting mistakes that all punters should try to avoid:
- Do not just bet on a team or a player because you like them, bet on them because they offer value or make sense given what you know about a certain matchup.
- Always check your bet slip. Whether brick-and-mortar or online, mistakes can happen on either end ie: clicking the wrong market or forgetting to confirm your bet, so double-checking is always prudent.
- Don’t ignore your bankroll, it’s there for a reason and should be respected at all times. As the gambling ads like to say, know your limit, play within it. Truer words have never been spoken.
- Use reputable sites for sports stats and betting trends. Using faulty data is a brutal way to lose money, so ensure you’re using the best to keep yourself informed such as ESPN, “insert sport here”-Ref, or the various official league sites.
- Don’t feel the need to bet on every event every night just because it’s the biggest thing on for that day. Try to stick to your comfort zone.
- Chasing your losses or doubling down is a great way to put you in financial trouble very quickly. Sometimes you win, sometimes you lose, an important part of betting is understanding that and letting the losses go.
- Don’t put too many bets down when you’re too emotionally invested in the game. Try to avoid betting drunk as well, but that should go without saying.