Sports betting is fun and exciting, and with new sportsbook sites and brilliant sporting tournaments on the horizon, now is the time to learn some strategies, create a few accounts and join in the fun. Using sites featured on Legalbet.UK, you’ll be able to get up and running quickly.
That said, although fun, it is very easy to walk into sports betting traps and make mistakes. So with this in mind, what should you look out for? Let’s take a deep dive into how, not to sports bet.
1. Altering Your Staking Amounts
It is tempting when you’re doing well to alter how much you stake per bet. At these times, you’re feeling confident and want to maximize your returns. It’s understandable, but it can lead to more severe losses.
Similarly, if you’re having a bad session, it is easy to give in to temptation and chase losses, staking more than you normally would on higher odds bets to win your money back. In these instances, it very rarely works out that way.
Instead, a disciplined approach is called for where you have a session budget and a staking plan. So if your session budget is £100, each bet will be between 1-5% of that £100, with a happy medium kicking in at 3%. This way, wins come in steadily and increase your bankroll while losses don’t hit you so hard.
Remember, chasing losses is a cardinal sin in sports betting.
2. Letting Recent Results Cloud Your Judgement
To become a successful sports bettor, you should conduct an analysis and understand the sports you’re betting on. The trap beginners fall into is that they see a team with a four-match winning streak and automatically think this is going to turn into five and stake accordingly. Similarly, the reverse is true. They see a team that hasn’t won for four games and stake on the other team.
Typically, this is done without any match analysis or thought. Without crunching the numbers and pondering a while, the chances are you’re going to miss something which could have swayed your betting decision.
Recent results are a factor, but they are not the only ones, and you should research all the statistics and not rely on just one.
3. Believing in the Gambler’s Fallacy
Some sports bettors believe in the ‘Gambler’s Fallacy.’ That is to say that if Team A beats Team B three times, a result for Team B is ‘due,’ and so they will bet on Team B.
The flaw in this logic is that it negates who are the in-form players and how well the two teams are performing in any given season. You can see how the ‘Gamber’s Fallacy’ takes hold, but it fails to take into account the details, which is why, ultimately, it is flawed logic.
4. Making Too Many Bets
Some like to bet for the sake of it, but this often results in unhealthy bankroll totals. Instead, a better strategy is to bet on games you’re confident about and where you have knowledge of the teams, thanks to research. This is a far healthier option in the long run.
5. Unrealistic Expectations
A mistake bettors make is that they have unrealistic expectations where they often want that fantastic night that puts them in a position to retire. This is not going to happen.
To break even, it is believed that you have to win 53% of the time. So anything above this is profitable.
If you approach with a goal of a 55%+ win rate, you’ll have a better, less frustrated, and angry betting experience.
6. Betting With Scam Sites
Sadly, it is still very easy to put your money in the hands of scammers when it comes to sports betting. Before creating an account, ensure that the site is licensed and legit. The Gambling Commission issues licenses to sites in the UK and some sites are registered in Malta thanks to favorable tax regulations.
Do your homework and realize that any offer or promotion that looks fantastic with no strings attached is probably fake.
7. Choosing Heart Before Head
It is very easy to get lost in the moment and bet with your heart. This is often the cause of anger and frustration, as this is often a bad way to make bets.
If you look at public bettors, they tend to be swayed by media, star players, and so on, and this makes the odds for the ‘team of the moment’ go down.
If you’re savvy, you can bet against this and get better odds for your bet.
The overall rule here is to use your head, not your heart, when it comes to making bets.
8. Not Securing the Best Odds
Pro bettors have accounts with different online bookmakers. The reason for this is that they can secure the best odds. Although the odds don’t differ too much, there is a difference, and you want to capitalize on the odds as best you can.
Good luck with your sports betting endeavors.
