Whenever we put a bet, we will succeed some of the time and lose part of the time. You can do all the review and study in the world to find the best bet and yet still come up empty and losing. In this post, we’ll look at some of the most common betting blunders and errors, as well as a solution to assist you to avoid these mistakes while placing a bet.

Placing an Excessive Number of Wagers at Once

Like you can’t sail on the 2 boats at the same time, this is a common blunder we see, when people who watch a variety of sports believe they can be betting experts for nearly any sport. The end result will be a betting slip that appears to be a mixed drink of a wide range of sports and markets merged into one, which, from what we’ve observed, rarely leads to a victory.

Because all sports are unique, and each one has its own set of exciting betting options, we believe it is better to stick to one or two sports that you are most familiar with.

Cash Flow Management

Many people routinely withdraw money from their bank and investment accounts and gamble it away before considering the consequences, only realising what they have done, and it will be too far to realize. 

You can avoid making the same mistake by setting away some cash in a separate bank account and using just that account’s money to place bets. That way, even if everything goes wrong and you lose it all, it won’t be a significant blow to your finances.

Continually Supporting Your Favorite Teams

You’ve been a fan for as long as you can think, and you schedule your life on their games – but keep in mind that almost every team faces adversity at some point throughout the season, and you need to find out when that comes so you can stop placing risky wagers.

This is especially true with low-level local teams. If your favourite team is on a winless streak, don’t place your bets solely on your feelings for the team. Your judgement can be easily and legitimately clouded by your emotions. So be strong and bet accordingly. 

Betting on anything just for showing off

Let’s admit it: we’ve all been there. You used to have a fantastic weekend, winning money on all of your bets. It’s Monday, and you’re feeling good about yourself after winning last night, so you want to keep going. When you search up today’s offer, you discover that no important events are being performed — so what happens next? You go to your preferred bookmaker’s web and start looking at other minor matches until you find yourself betting on clubs you had never heard of until a few minutes ago.

This is a huge mistake you can make, betting just because you are bored. Understand that you are betting real money, and whether that money comes from a prior winning bet or not, it is still money that should not be wasted.

Failure to Use a Betting Tactics 

You must know which areas to play on and which to avoid, when to place a bet and when to refrain from using it, whether to place a single bet or use an aggregate, and when to play pre-match or in-play.

A good betting strategy is essential, and you should set aside some time to build your own method of doing things before speeding up the process of placing bets.

Expecting Unrealistic Results

Try not to start your gambling experience with irrational expectations, such as convincing yourself that this will be your big break or that you will start making a lot of money right away. This viewpoint is risky since it may put pressure on you to keep winning, causing you to increase your wagering amounts. Furthermore, having unrealistic expectations will result in an unpleasant betting experience, which no one wants.

Be realistic in your expectations, set realistic goals, play responsibly, and most importantly, enjoy the excitement that sports betting provides without having a nervous breakdown each moment you fail.

Blind Betting

When placing a wager, it is critical that you thoroughly investigate the clubs and matches you choose to wager on in order to make the most informed decision possible. Even though there will always be an aspect of luck when it comes to sports gambling and winning, you can improve your odds by just conducting thorough study.

Probably the most well-known wagering blunder is when a large number of people simply decide to bet on whoever is the favourite. Because the ‘best picks’ do not always win, backing them recklessly is not a wise strategy, and we strongly advise you to avoid this betting blunder.

Not reaching out into new markets

When it comes to betting, many people will generally stick to the one market that they discovered first and are comfortable with. While this isn’t necessarily a bad thing, especially if it’s working for you, we believe it’s a good idea to be bold and experiment with different markets.

It’d be a mistake to not do so, as you would find that you have significantly better results on certain betting sites for cricket than on other sports. Better results are nearly always ensured after thorough investigation.

Attempting to Recover a Loss

No one really enjoys losing. We put bets in the hopes that the one that pays out the most would be the one, but things don’t always go our way, and missing a few wagers is expected. 

When you lose a bet, it might be quite tempting to try to make amends and recoup your losses by placing another wager. This is known as chasing a loss, and it may develop into a very bad habit, as losing bets that ‘should’ gain you back your money can lead to a spiral of ever-increasing losses. It’s critical that you recognise when it’s time to accept the loss and when it’s time to stop.

The Bet’s Value Isn’t Considered

For those who are unfamiliar with the concept, ‘value betting’ refers to placing a wager on which the chances of winning are higher than the odds offered by the publisher.

Although value gambling can be difficult to understand and is usually undertaken by more skilled gamblers, it would be a mistake to neglect value bets because they can boost your chances of winning.

WARNING: NEVER PLACE A BET WHILE UNDER THE INFLUENCE OF ALCOHOL OR DRUGS.

This is self-explanatory. “Don’t drink and drive” might be compared to “Don’t drink and bet.”

When placing a bet with your hard-earned money, you should always have an open mind. Take responsibility!

Disclaimer:

• As per the Public Gambling Act of 1867, all Indian states, except Goa, Daman and Sikkim, prohibit gambling
• Land-based casinos are legalized, with certain guidelines, in Goa and Daman, as per the Goa, Daman and Diu Public Gambling Act 1976  
• Land-based casinos, Online gambling and E-gaming (games of chance) are legalized in Sikkim under the Sikkim Online Gaming (Regulation) Rules 2009
• Only some Indian states have legalized online/regular lotteries as per and subject to the conditions laid down by state laws. Kindly refer to the same here
• Horse racing and betting on horse racing, including online betting, is permitted only in a licensed premise in select states. Kindly refer to the 1996 Judgement by the Supreme Court Of India here and for more information
• This article does not endorse or express the views of Qrius and/or any of its staff.

Stay updated with all the insights.
Navigate news, 1 email day.
Subscribe to Qrius