Do you love sports betting and gambling on your favorite competitions, teams, and athletes? Online sports gambling is an exciting hobby millions worldwide enjoy, from the soccer fans of London betting on the English Premier League to the US football fans wagering on the Super Bowl. However, as with any exciting venture, it's crucial to tread carefully.
Here, we'll delve into the enticing world of sports betting while revealing the common pitfalls that bettors of all levels should be wary of. Although the habits of bettors are changing as the betting scene evolves, many gamblers continue to make the same mistakes when wagering.
These common mistakes have simple fixes, but a lack of understanding of how the gambling industry works means many bettors handicap themselves. But there’s a better way to bet.
The 5 Biggest Sports Betting Mistakes
#1 - Overspending
The age of smartphone gambling makes it easier than ever to wager on sports competitions and teams. It’s fast, secure, and convenient, everything you could wish for from your gambling experience, and about as far removed from the habits of gamblers just a generation ago. Bettors love the convenience, but fast, easy betting brings its share of issues.
Although being able to gamble anywhere, anytime, and on any sport is convenient, it does have it's pitfalls, one being that it can lead to overspending on betting. Suppose you’re at home watching soccer on TV, and you fancy a bet. Would you leave the house, visit your local betting office, write out the bet slip, and pay in cash? It's far easier to bet online than it is to be instore.
Recording and tracking your bets and creating profit and loss column can help you manage your spending. Save your money for considered, intelligent bets, rather than quick, impulsive wagers.
#2 - Betting On Every Race
Sports with a quick turnaround in fixtures, like horse racing, can spell danger for some bettors. Walking to a betting office and gambling on multiple races seems like an effort. Still, you could draw the curtains and bet continuously on every race at a meeting without anyone getting suspicious.
The same applies to every game on a busy day of football or soccer. Smartphones make gambling easy, but you must bet responsibly. Never gamble on a game if you wouldn’t journey to a high-street sports betting office to make the same wager. Decide how many bets you want to place in a day, or set a budget and stick to it.
Betting more than you’re comfortable with may seem like an easy problem to avoid, but it can get dangerous quickly. Always monitor your bets in our account's history section to track your spending and which sports bring the most profits.
#3 - Taking the Odds Offered
You’ve chosen a team to back up and log into your gambling app. You back Manchester City to beat Liverpool in the English Premier League at odds of +300. The Premier League and Champions League winners do the job in style, beating the Reds with room to spare. You bank the profits from a $10 bet at +300, and you’re happy. Only one thing could spoil your joy now: finding out the same bet was +600 at a rival bookmaker.
You bagged a profit, but it could’ve been much better, and you paid the price for not shopping around. Don't take the first price you see to avoid betting anything less than the market's best price each time you gamble. Of course, it is impossible to know what every bettor is offering, that is why it's smart to be a part of an betting community and learn from the betting experts.
#4- Not Checking the Markets
When gambling on sports, many bettors make the mistake of sticking to the same markets through familiarity. It’s a good idea to gamble on markets you understand and a dreadful approach to wager on markets you don’t fully understand. But it pays to spread the love and try new ways to gamble. Just make sure you understand how it works and what’s required of you as the gambler.
If you’re a soccer bettor, you may stick to gambling on the match-winner, and if you prefer to wager on American football, gamblers often play the moneyline odds. Horse racing bettors tend to stick with predicting the winner or each way. The most popular sports attract the same weekly markets, with few gamblers thinking outside the box. But that’s what holds them back, and you’ll find many professional gamblers often bet on different and unique markets.
#5 - Not Using Promotions
The final mistake many bettors make that’s easy to avoid is not taking advantage of the promotions offered by your bookie. The top gambling apps offer new customers a welcome bonus free bet when they sign up and start gambling. They also treat their existing members to recurring deals, including profit boosts, enhanced odds, cashback, and extra places each way.
It’s advisable to check your betting app’s promotion page each time you gamble. You may find a special offer that will improve your chances of landing a profit or reduce the danger of losing your stake. Read the terms and conditions to get up to speed on how the deal works and how to use it to target a windfall.
Reduce Your Risk By Joining A Sports Betting Community
Unfortunately, many bettors have the same blind spots and make the same mistakes. These errors often cost them money, either by losing bets or losing out on a profit by missing the value. If you want become a better bettor and a more profitable sports fan, then you should be a member of a sports betting community.
Joining an experienced betting community rather than betting alone can offer several advantages. Here are just some of the ways in which a betting community can help you to avoid betting mistakes and maximise your winning potential:
- Bet With Expert Advice: Experienced betting communities have members with a whole range of experience. You can tap into the collective wisdom of seasoned bettors who have honed their skills over time. This can be especially valuable if you're a beginner looking to learn from the best.
- Grow Your Knowledge: Betting communities often provide a wealth of educational resources. This can include articles, guides, webinars, and group chats where members discuss strategies, share insights, and offer tips. These resources can help you improve your betting knowledge and make better, more informed decisions.
- Reduce Your Risk: Betting can be risky, and losses are a part of the game. However, being part of a community can help you manage and mitigate these risks. Members often share risk management strategies, such as bankroll management techniques, which can help you avoid significant losses.
- Access Market Insights: We have already shared how important it is to have an overview of the betting markets. However, this is tough to achieve alone. In a community, you can gain access to insights and information that you might otherwise miss. Members could discuss injury updates, team news, and other factors that can influence the outcome of a sporting event. This inside information can be invaluable for making informed bets.
- Stay Accountable: Betting communities can provide a level of accountability. When you share your bets and strategies with others, you're more likely to stick to a disciplined approach. This can prevent impulsive and emotional betting, which often leads to losses.
- Share Tools and Software: Some communities provide access to betting tools and software that can assist you in your analysis. These tools can range from odds calculators to statistical models, all ready to enhance your decision-making process.
- Gain Community Support: Betting can sometimes be a solitary and isolating activity. Being part of a community offers a sense of camaraderie and support. You can celebrate wins together and seek comfort and advice during losing streaks.
Bet Like the Professionals 🏆
Betting is an exciting game, but there are so many things that can go wrong. From a lack of knowledge to a lack of forethought, betting blindly can cause you to make the mistakes listed in this article.
👉 Joining an experienced betting community can provide you with knowledge, resources, support, and insights that are often difficult to obtain when betting alone. So, check out Whop's sports betting communities today, and increase your chances of making intellegent, successful wagers.