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Sports Betting: Common Mistakes to Avoid
24th March, 15:17It's something that is often misunderstood but play your cards right and sports betting can be extremely worthwhile.
Granted, for some people it becomes something that can quickly flow out of control but for those who want to gamble responsibly, and perhaps make some healthy profits as you do it, there is value in researching and understanding where to avoid common mistakes. Below are a few examples of how to navigate around these sports betting missteps which we will now look into.
In some ways, sports betting is like the stock market. It has prices which are constantly changing, but to make the most of this situation you need to understand what these prices are and how they can return profits for you. This is where a basic level of knowledge regarding betting odds is beneficial to you. The odds, however, can be confusing to someone who is new to betting and many people might prefer to just know their potential returns instantly.
This is where something like the bet calculator comes into play. This will allow you to quickly calculate your potential winnings on your planned bets - allowing you to think and plan strategically based on these calculations.
Mistake #2 - You bet on "certainties"
Here is a newsflash, there's no such thing as a certainty. In fact, if you are betting on events that you think are guaranteed to result in one outcome, you are probably betting on the wrong things. Quite often, these are the ones which the bookmakers have attached such low prices to, that it becomes extremely inefficient for you to bet on them. Sure, you might win most, but due to the low odds the yield is far too risky.
Of course, if this is an event which is nigh-on a certainty in your mind, but perhaps not the bookies, this is a different matter. It's here where you can well and truly take advantage and make the odds count.
Mistake #3 - You go on "tilt"
As we all know, gambling goes in runs. One month you can't lose, but the next is the complete opposite. It's that next month which we are going to hone in on here, and look at how you react to "tilt".
In short, you need to always let your head rule your heart. Far too many people will lose control at this point, and this is where gambling becomes dangerous. They attempt to recoup their losses, through ridiculous bets, and in the end it all ends in tears. Quite often, these bets are the "certainties" that we have already spoken about, and before you know it you will have lumped on your entire bankroll in a bid to take advantage of them.
If you feel as though you are heading in this direction, you need to have your basic bankroll management principles in the back of your head. The most strategic gamblers will never dedicate most of their bankroll on one outcome - they will only do it in small portions. Many will never surpass the 5% mark and if you can abide by such a rule, going on tilt will never become an issue.