Mistakes in sports betting can be quite costly. It’s particularly frustrating when you make errors that are easily avoidable. We’ve summarized the most common mistakes in betting along with tips on how to avoid them. So you are perfectly prepared for 20Bet.
Betting Out of Boredom or Impulse
Who hasn’t been there? You’re recovering from partying on Friday and Saturday and want to chill on the sofa on Sunday without thinking too much. So, you scroll through your preferred bookmaker’s betting offers and place a few bets without doing any research or gathering information beforehand. Or, perhaps you had a really good weekend in terms of betting and are feeling satisfied with your winnings. Instead of cashing out your winnings or at least part of them, you decide to take advantage of your winning streak on Monday – after all, you’re feeling unbeatable – and you impulsively place bets on teams you’ve never even heard of before.
What happens? Surprisingly, you end up losing those bets, and all your winnings from the weekend are gone.
The Know-it-alls and Jack-of-all-trades
We often see people whose betting history suggests they consider themselves to be experts in everything. Betting experts across all sports and leagues. Their accounts contain tickets for football, tennis, basketball, NFL, ice hockey, MMA, and horse racing. What we see is that it seldom ends well.
While it’s not unusual to have a broad interest in several sports, in most cases, there will always be one sport that you know better and follow more closely than others. People who have long-term success with sports betting know their strengths. They understand that, for example, they have more expertise in football compared to tennis. Many successful betting experts limit themselves not only to one sport but even to specific leagues. For instance, they only place bets on games from the Bundesliga, Premier League, and La Liga.
The saying “Choose your battles wisely” fits perfectly here. We recommend only placing bets on games and sporting events where you genuinely feel well-informed. Everything else is just gambling and will not lead to long-term success.
Betting Without Research
At loswetten, we believe it’s crucial to gather information about the teams you wish to bet on to make the most informed decision possible. While there is always a degree of luck in sports betting, you can significantly increase your chances of winning with proper research.
What do we mean by this? No, you don’t have to write a dissertation on your betting decisions, but if there are teams you aren’t particularly familiar with, it can be invaluable to learn about players, managers, injuries, suspensions, home/away games, rivalries, and their playing style. Current form statistics are also extremely valuable. Is one team’s form curve slowly rising, while the other team hasn’t scored a goal in their last two matches after a successful streak? Is the goal scorer perhaps going through a scoring drought? All these factors should be considered when placing a bet.
Betting Without a Clear Strategy
To have long-term success with sports betting, you need a clear betting strategy. There are countless betting strategies available. It’s not necessary to know all of them. We don’t aim to recommend one specific strategy here, as this article primarily focuses on the mistakes to avoid.
And our opinion is clear: betting without a strategy can lead to occasional wins and losses, but one thing is certain: you won’t achieve long-term success this way. Since the topic is vast, we have dedicated a separate section to sports betting strategies.