5 Most Common Betting Mistakes By Sport Bettors

Sports betting can be a really fun hobby, especially when your favorite team is on a winning streak. However, when you make too many mistakes betting, it can ruin the experience. 

Sports bettors often make the mistake of placing too many bets on a game and chasing losing streaks during live betting. Mistakes can also be made when the bettor hasn’t taken steps toward bankroll management or doesn’t understand the bet’s value. One of the worst mistakes bettors can also make is placing bets while drinking. 

Do you want to learn more about why these mistakes can ruin a sports bettor’s experience? Keep reading as we take a look at why each of these reasons can be problematic for bettors.

Placing Too Many Bets

If you enjoy sports, one rule of thumb to follow is not to bet on every game you watch. This takes betting from the form of a fun hobby to an addiction. Betting should always be something that you do occasionally. 

However, when you first join an online sportsbook, it can be tempting to place all the bets you can afford. After all, you can’t win unless you place bets and online sportsbooks have so many unique betting styles to choose from. A player can easily spend their entire budget in one sitting.

It’s also important that you don’t bet on the same team every game. While it’s tempting to always wager on your favorite team, you should remember that no team or player wins every single game. 

Chasing Losing Streaks

Live betting gives bettors the option to bet on what’s happening live in the game. While this can be very exciting, it can also be dangerous when a bettor takes on a losing streak. Many sports bettors don’t know when to draw the line and say “enough is enough”. Instead, they keep placing another dollar down until they lose all of their money.

Not Managing Bankroll

Managing your bankroll is important to make sure you don’t spend more than you can afford on the betting lines. It also prevents you from depositing more money into your sportsbook account than you can afford. When bettors don’t take steps towards this, they can go over their budget quickly.

Not Understanding a Bet’s Value

While a bet may have enticing odds, its value is a completely different story. When sports bettors don’t compare the betting odds from different online bookkeepers, they are limiting their options. This also prevents them from seeing what bets hold the most value. A bettor should always do some research on their sports bets before placing them.

Betting While Drunk

Betting is like driving, you shouldn’t do it unless you’re sober. A lot of people enjoy having a few drinks while watching their favorite team. However, this can cause them to act bolder when placing bets, which usually doesn’t result in their favor. Many bettors don’t know when to cut off a losing streak when they have a few drinks in their system.