Betting online is a fun and easy way to make wagers on sports. Instead of needing to call in your wagers or make a trip to do so in person, modern-day bettors can place bets with a few clicks right from the comfort of their own homes. But with this convenience, both amateurs and pros alike often fall prey to some of the biggest online betting mistakes. Here’s a look at the 10 biggest betting mistakes that many bettors make, and why you should avoid them.
Top 10 Biggest Mistakes
1. Lack of Money Management
No matter how strong of a handicapper you are, without proper money management, you won’t be able to win long term. Bettors must develop a strategy and always bet within their means to avoid having their bankroll crippled by the inevitable losing streak. Decide what percentage of your bankroll you want to wager per game, day, and week, and stick to your plan.
2. Impulse Bets
After a rough day of betting filled with unlucky bounces and close calls, it is a natural response to want to make a huge bet on an evening game to try and win back your losses all at once. Resist this urge! Winning at sports betting is a marathon, not a race. Stick to your plan and remind yourself that you will win it back in the long run.
3. Betting Too Many Parlays
There are plenty of great applications for parlays, and they are a valuable tool in every bettor’s arsenal. But there is a reason those payouts are so enticing; they are extremely difficult to hit. Use parlays sparingly, and try to keep them to only two or three legs. A five-team parlay can turn what should have been a very profitable 4-1 day into a losing proposition.
4. Betting Too Many Games
If you study a betting card long enough, you will likely form an opinion on just about every game on the board. Some bettors bet all of these leans, and put way too much of their bankroll at risk every day. Narrow your card down to your strongest plays, and pass on the games that don’t make the cut.
5. Not Line Shopping
With so many trustworthy sportsbooks across the internet, bettors that have money in only one book put themselves at a major disadvantage. The difference between a push and a win comes down to a half-point quite often; shop around, and make sure that you are getting the best bang for your buck.
6. Betting Unfavorable Lines
When reviewing the week ahead before lines come out, it is easy to fall in love with a game and have it circled on your calendar. So when the lines do come out, some bettors can’t talk themselves out of betting their side, even if the line is way worse than they thought it would be. Only bet your early leans when the value matches up.
7. Falling Into Trap Lines
If it looks too good to be true, it probably is. Don’t just jump on a line that looks “too easy”; research it further. Is there an injury or emotional factor you overlooked? A sudden change in the weather? Sportsbooks don’t make major mistakes too often, so see if you can understand the line before you bet it.
8. Not Doing Enough Research
With each bet just one click away, bettors sometimes add a game or two to their card based on a “gut feeling” or an early lean. Every wager you make should be well thought out and researched. If another game catches your eye, take the time to put it through your process and decide if it is worth a play.
9. Betting a Game Just Because It Is On TV
If you bet strictly for entertainment, this may be a “mistake” that you feel okay making. But as fun as it is to have a little something riding on a game you are going to be watching with your buddies, on paper it should be treated like every other game; and if it isn’t a strong enough play, it should be passed on.
10. Forgetting To Cash Out
So you avoid all of these mistakes and build up a nice bankroll, but instead of seeing the fruits of your labor, you get careless and lose it back. Plan ahead! When your bankroll hits a certain point, don’t only consider increasing your bet; also remember to withdraw some of that hard-earned cash.