Do You Make These Common Online Betting Mistakes?

Almost everyone who tried online sports betting has made a mistake or the other. However, when a novice or even an experienced bettor makes the same mistakes over and over, the chances of making any real money will be decreasing. If you understand some of the common mistakes and how you can avoid them, it will give you an edge from the very first wager.

1. Betting Without Thinking

Making bets on games when you are angry, drunk or bored is never a good strategy. Although, you might get lucky once in a while and win a wager, making bets when you are not totally in control is a formula for disaster. This also goes for making bets because you are moved by the team’s story or because it is your alma mater or home team. If the odds are against them, you will probably lose money on the bet.

2. Betting to Recoup Losses

Even successful bettors lose wagers sometimes. That is why it is called gambling, there is never a sure thing. Understanding that losses are a part of the game is a vital part of betting with online sport betting. If you try to get back the money you have lost by betting too much on another game, you are asking for trouble. Though you might get lucky, it is very likely you will continue to lose money with desperate bets that haven't been fully thought out. Be consistent with your bet amounts and ensure you pay attention to the bets you are making. With time, your losses will even out.

3. Betting Too Much

Most experienced online bettors will tell you bankroll management is one of the most essential factor in a successful betting strategy. This means determining the amount of money within reason that you can afford to use for gambling and managing it effectively. In general, you shouldn't use more than 10 percent of your bankroll to bet at any time and never more than 2 percent of the total bankroll wagered on any one event. Be consistent with your bets as the most successful bettors are ones who wager about the same amount on every game, even those advertised as a “sure thing.” In sports betting, nothing is ever guaranteed. Bad officiating, injuries or a player having an off-day can turn a "sure thing" into a certain loss within seconds.

4. Choosing the Wrong Sportsbook

It can be quite tempting if sportsbooks offer promotions and bonuses to build your bankroll when making efforts to draw members. Do your homework before joining on the basis of a bonus only. Make researchers on the fees they charge, how easy it is use the site and what others are saying about the book. An amazing bonus isn’t any good if you cannot collect your winnings, so research several online sportsbooks and find the one that works for you.

5. Relying on the Wrong Stats

Just like it is a bad idea to bet on a team because it is your favorite, it is also not advisable to bet on a team just because they have won more games than their opponent. You have to learn how to interpret rankings to determine which team is better overall. It is also essential to learn how to interpret point spreads, odds and percentages. The more information you have, the better your chances of making a good bet.