Holidays, major sports events, or gatherings are like magnets for betting enthusiasts. Betting is an irresistible temptation, that lures people in. It’s like turning ordinary occasions into opportunities to place bets. But, betting is already risky, when mistakes creep in, it becomes an even bigger problem. So, how can we navigate this tempting yet tricky world of betting without falling into common pitfalls? Here in the blog let’s look into common betting mistakes and how to avoid them. Let’s roll in.
1. Changing Unit Size
Money management is an important discipline required for a successful bettor. One of the terrible things bettors do is change unit size based on how great or bad they’re doing. Don’t get tempted to risk more or double down.
How To Avoid It?
Instead, follow a flat-betting approach. Flat betting implies betting the same amount on each game & risking just 1% to 5% of the bankroll per play. The best medium is 3% per play.
If you’re betting with Rs.1000, your play risk is 300. If you’re starting with Rs.10,000 your play risk is Rs 3000. A flat-betting approach provides bettors with a positive Return on Investment (ROI) if they do well.
2. Choose Head Over Heart
Trust your heart but not at all times. We might get biased on our favorites, home teams, historic franchises, teams with star players, or whoever gets more support.
How To Avoid It?
By going against popular sentiment, contrarian bettors can take advantage of public biases and use artificially inflated odds. When everyone thinks one team will win, they bet on the other. This smart move helps them get better odds.
3. No Bankroll Management
Okay, here’s the golden rule of betting. If you’re into betting, be smart about it. Treat your betting money as a special fund, not your home rent. Keep it separate in its account to avoid mix-ups.
How To Avoid It?
Don’t bet everything at once. Stick to the rules and never bet more than 5% of all the betting money. Set a limit, to ensure you have enough to keep playing without huge losses.
4. Respond To Changes
In betting, what’s considered a good deal can change in minutes. Why? Imagine you are betting on a football match. News about injuries or team additions shake things up—the chances of different outcomes shift, and the odds.
How To Avoid It?
Before you bet, think:
How to handle new info or changes?
What’s the best time to place a bet?
What are my rules for starting or stopping my bets?
How to avoid making bets just based on guesses?
5. Chasing Losses
Ever had a bad day while betting and thought, “I need to win it back NOW!”? That’s chasing losses. This is what 90% of people do. Making fast, emotional bets to recover what you lost is a big no.
How To Avoid It?
Losing is part of the game. Rather than diving headfirst, take a timeout. Stick to the game plan. Emotions are the wild cards; they can cloud your judgment. So, stay steady, refocus, and play the long game.
6. FailingTo Shop For Lines
Just like you compare prices before buying anything, checking odds from varied bookmakers is key in sports betting. Various sportsbooks offer different odds for the same match, and these can impact your potential payout.
For instance, if you’re betting on a cricket match, one platform might offer odds of +110 for a team, while another might go as high as +130 for the same team. This means you can win ₹110 for every ₹100 you bet on the first platform, but ₹130 for every ₹100 on the second one if your team wins.
How To Avoid It?
Shop for the best lines. Explore websites that compare odds from many sportsbooks, to choose the best one. Check out betting websites or mobile apps to compare their odds. Subscribe to line services and keep yourself updated on the latest odds from different sportsbooks.
7. Blind Betting
Have you ever gone on a trip without a map? Skipping the basic homework before betting is similar to that.
How To Avoid It?
Before placing a bet, take the time to research the teams, players, and league trends. Familiarize yourself with the concept of odds and how they translate into potential payouts. Get a betting strategy that aligns with your risk and financial goals. Avoid letting emotions sway your betting decisions. Consider consulting experienced bettors for recommendations.
8. Notice The Details of Promotions
Promotions are like bonus levels in a game, exciting and rewarding. Most betting sites offer welcome deals and ongoing promotions. But before jumping, know the rules.
How To Avoid It?
Every offer comes with its own set of conditions. Check if the promotion is available where you are, know the maximum amount you can claim, know the timeframe during which the promotion is active, and seek the smallest amount to deposit. Learn any specific bets or codes you might need to use, understand the kinds of bets that trigger promotion, and be aware of the deadline for using the bonus.
Tips To Bet Smarter:
- Run a thorough research on teams, players, and recent performances.
- Emotional decisions often lead to impulsive and regrettable bets. Keep your emotions in check.
- Establish a clear betting budget and stick to it.
- Accept that losses happen. And familiarize yourself with how odds work.
- Focus on the overall value of your bets rather than individual outcomes.
- Spread your bets across different sports or events.
- Maintain a betting journal to track your bets, wins, and losses.
- Be cautious when following tips from others.
As you are aware of common betting mistakes, it’s time to step into the shoes of a seasoned player. But, remember to choose your playing field wisely. Opt for trustworthy sites that ensure you’re in good hands. Speaking of which, Star Punter stands out as a fantastic spot to place your wagers, whether you’re a newcomer or a seasoned bettor. With enticing welcome bonuses and hassle-free bet types, Start Punter guarantees a wonderful betting experience. So, gear up for excitement, simplicity, and a lift in your betting adventures today with StarPunter.
