COMMON MISTAKES IN BETTING
If you decide to bet, you should know that there are certain unwritten rules that you are advised follow in order to ensure a smooth entrance into the world of online betting and to avoid big losses. Here are some of the most common mistakes in betting that you should avoid.
One of the biggest mistakes that many bettors make is that they don't analyze the sports event they're betting on. Many bettors select an event by the popularity of the league, team or simply by the odds, without knowing anything about the latest results, head to head matches, team form/player form and other statistics.
Not keeping a betting log or journal is another common mistake that most bettors, especially beginners, make. Some may say that keeping a betting log is useless because of the betting history options available at most online bookies, but in fact - the betting log has a strong influence on the betting behavior of a bettor. By analyzing your betting activity you can notice your mistakes easily, decide what improvements to make and what to change in order to be successful.
Not setting a monthly budget and a target is a mistake that many bettors make, especially those who don't use a betting strategy. Without setting a monthly budget and a target, many bettors tend to place chaotic bets without any sort of limit or control. This can cause many problems and it can also lead to gambling addiction if the bettor isn't able to set some limits from the start.
Placing bets on combos in order to win a huge amount of money in a short period of time. A great problem with many bettors nowadays is that they aren't willing to be calm and calculate each step in order to gain a reachable win. Instead of this, they are impatient and they try to push their luck by betting on huge combos with many events and big odds. Chasing huge profits from the start can bring a bettor down and make him lose all of his money, so patience is very important for this to not happen.
Betting without a Money management strategy is a very serious issue because in this way the bettor can be driven by emotions and can make huge mistakes. Each bettor should have a money management strategy in order to set some limits and know exactly how much to bet per bet/week/month. Here's a negative Example: a bettor has $1000 account balance, he doesn't use any money management and he sees a match played by his favorite team (let's say, Arsenal - odds of 1.36 of winning). Driven by emotions, he immediately decides that his team is the best and has 100% chances to win, therefore he places the whole amount ($1000) on Arsenal. This wouldn't happen if the bettor clearly set some limits to be respected.
Once you manage to avoid these mistakes, it will be easier for you to form a style of betting (correctly) and improve your results.
You may also want to read the following:
Common mistakes in live betting
Avoid getting your betting account blocked
Online betting
