Sports betting can be both entertaining and lucrative, as long as you know what you’re doing. While punters that place bets on sports have some experience watching their favorite team in action, most of them fail to be consistent with their results.
Why is that?
Well, for starters, they become emotionally attached to their betting decisions or forget to consider special conditions that might influence the outcome of a game. In order to help you avoid falling into the trap of miscalculated betting, we have created a list of the common mistakes beginner punters make.
Keep reading to discover the five tips that will get you more profitable results from sports betting!
Don’t Place Bets Unless You Know How It Works
Beginner punters have one thing in common – they all join a sportsbook platform and place random bets, hoping they will get a positive outcome.
That’s a crucial mistake that you should avoid at all costs. We recommend that before you start wagering your money online, you learn the rules of the game you’re planning to bet on and start reading blog posts on specialty news websites
Another way to learn how to wager your money on sporting events is to find a platform that offers practice betting slips. This way, you will be able to test the knowledge you’ve acquired without risking your real money.
Reading game statistics and analyzing historical data is quintessential for your betting journey. You will need to estimate the team’s performance and how well they go against a particular opponent. By continually looking for data on the Internet, you will be able to hone your betting skills in no time!
Avoid Chasing Your Losses by Making Larger Bets
“Go big or go home” might sound feasible on the football court. However, it doesn’t go the same way with sports betting. Many beginner gamblers tend to make the costly mistake of trying to recover their money after a loss.
Betting experts suggest that no matter how much you lost on a bet, it’s important to avoid chasing your losses by betting even money the next rank. After all, sports betting is still a form of gambling, so even if you’re great with statistics, you can’t win them all.
On top of that, similar to blackjack or roulette, there will be times when you will find yourself on a long losing streak. If you find yourself in this situation, it’s best to stop betting to avoid losing even more than you should. Think about it – if you lose £100 on one bet, and then you double your wager hoping to recover, you risk losing £300 in total.
Therefore, our recommendation is to work on your long-term betting strategy. Over time, you will eventually even out your win/loss ratio. That’s the only real way you can turn a profit from sports betting, so instead of becoming emotional, create a budget and try to stick to it as much as possible.
Stay Away from Unregulated Gambling Platforms
With so many sports betting sites available out there, it has become difficult for you to choose an ideal one. However, if you’re planning to place your wagers online, one of the most important things to look out for is whether the site is safe or not.
To determine how safe a platform is, you have to check if it is licensed by one of the leading regulatory authorities, such as the UK Gambling Commission or Malta Gambling Authority. If you come across a website that does not operate under a gaming license, you should avoid registering on it.
That’s because your data is at risk, and you can’t be sure that you will receive the payouts or if the results will be fair. There are a lot of scam websites out there, so before you deposit real money on a site, make sure that it is working with a regulatory authority.
Fortunately, there are specialty websites responsible for analyzing all the gaming platforms in the UK and curating a list of those regulated by a gambling authority. By taking advantage of these valuable tools, you will be able to quickly identify a reliable platform and get started with betting right away, without having to worry about scammers or data leaks.
Forget to Take Into Account Injuries and Weather Conditions
Suppose you enjoy betting on team sports like basketball or soccer. In that case, you must always check the news for specific information, such as reported injuries or upcoming bad weather. This type of data is vital for your betting success because it can influence a game’s outcome.
There are many situations in which a key player was injured, so the team ended up underperforming. Similarly, suppose it’s raining during the game. In that situation, there’s a slight chance that the players will make a mistake, resulting in a negative result. Thus, you might end up losing your money, even though the statistics and predictions were on point.
If you’re new to the sports betting world, we recommend finding a reputable news source that will help you stay up-to-date with all the external factors that might influence the results. Collect as much information regarding the team you want to bet on, and you are more likely to be successful with your bet.
Never Fall in Love with Your Favourite Sports Team
While many of you will say that this tip is quite apparent, surveys show that many punters, especially newer ones, tend to always bet on their favourite team because they are emotionally attached and hope that their team will win all the time.
Of course, we’re not implying that you should never bet on your favourite team. Instead, be realistic and base your decision on statistics instead of personal preferences. We know that some of you will say that you bet because you want to support your team. However, we think that if you’re in love with a particular club, you don’t need to have money on the line to feel the excitement.
Therefore, try to separate your emotions and personal preferences from the betting slip and only take a final decision based on pure statistics and logic. If you feel like your feelings cloud your rational judgment, it’s best to avoid placing that bet or make a smaller wager.
Sports betting is a complex gambling activity, but it pays off if you focus on understanding statistics and developing a consistent strategy. While the tips mentioned in this article will help you get on the right track in your betting journey, there are other things that you should consider before you start:
- Never Blame Bad Luck
- Don’t Forget to Withdraw Your Winnings
- Avoid Placing Wagers When Drunk
- Do Your Research Well
With these in mind, you’re ready to go out there and try your luck with sports betting at a regulated gambling platform. Have fun, and remember to gamble responsibly!