Summary: We all make mistakes! But some can hit us hard especially in online sports betting, and may result in huge monetary losses. If you are a novice in the world of sports gambling, read about all the things that you MUST AVOID in this article!
"To err is human, to rectify it is divine". While it may sound soothing to our ears and also might convince us to keep making bad decisions, when it comes to betting, it sometimes can cost us a fortune. Although we all have learned throughout our growing years that nobody learns from their success, but from their failures, it is best to rectify it at the right time.
The best way to make progress and become a pro in cricket betting is to accept the fact that you can`t be right all the time. Accepting the reality will help you recognize where you are going wrong and how to perform better next time. So, the key to sustain the ups and downs of online sports betting is to remain disciplined and slowly and steadily begin building your bankroll throughout the long haul.
If you are about to make a debut in the world of online cricket betting, here are some of the mistakes that every beginner tends to make and must avoid it at all cost:
Altering Unit Size
Gambling is all about money and money management is the most important skill that you will need to become a successful sports bettor. One of the blunder mistakes that beginners do is changing the unit size based on their recent performance. This tendency should be avoided at any cost! Never double down and risk more, when you are on a winning streak. And if you are cold, never try to win it all back in one giant swoop.
Always follow the concept of flat-betting approach. This means betting the same amount every time on every game and risking only 1% to 5% of your bankroll per play. It will not only save you from getting bankrupt, but will also provide you with a positive ROI (Return On Investment).
Getting Carried Away
If a cricket team is performing great in a league or a tournament, beginners will automatically want to bet on it, simply because the team`s performance is par excellence. And if a team isn`t doing great, novice bettors will fade them. But this is another huge mistake that can blow away your chances of making huge profits. Why? Because according to stats, teams coming off a win are overvalued. The bookmakers know that the public would like to ride on them, so they shade their lines accordingly. As a result, you will be getting an overpriced and bad deal. Thus, follow the stats, do your research and stick to your plan, before placing your wager.
Betting on Almost Everything
Being greedy is not a bad thing, as long as chocolate is concerned! But betting too much on almost every sport and league available on betting sites is the characteristic of a rookie punter. It is not considered to be a favorable trait! Sportsbooks and betting sites offer expansive markets and events to try your luck on. And, we agree that it is tempting too! But the mindset of, "one more bet" can become too exhausting, if left unchecked. A few well-considered wagers and well-thought decisions are worth more than betting on various events.
Making Decisions Impulsively
Loyalties are nice, but not in the field of online sports betting. Especially, when you are trying to place wagers. The best team is not your home team, but the team that is likely to help you win some money. Don`t take decisions impulsively, just because you support your home team. If there is money involved, leave your sentiments and support for your favorite team at the front door, if the odds aren`t good. Betting is all about making a profit, and not make-believe. So if your favorite cricket team is not doing good, do not place your money on them.
Dwelling on Bad Decisions
One bad decision and miscalculation can lead to huge loss. While this may be heart wrecking, dwelling on it and blaming yourself will lead you nowhere. Sometimes, even the professionals can overestimate or undervalue a team at any particular given moment. If you think that your luck isn`t on your side, walk away with your wallet still fat. Sometimes the best thing to do is to stop, take a break and make a comeback with a refreshing mindset.
Trying on New Sports
While it is good to be open to changes and risk-taking events, it is best to not do it, when the roads are unknown. Many beginners love to experiment and like to place bets on sports, they are not familiar with. But sometimes the unfamiliarity about the sports become the major reason behind somebody going bankrupt. Hence, always pick a sport you have a little or basic knowledge about.
Setting Unrealistic Expectations
The novice betters come with sparkly eyes and loft expectations. Everyone wants to win and make quick cash in online sports betting, however, the reality is slightly different. Expecting to win every bet is highly unrealistic. Hence, accept the fact that you will win some days and lose some days.
Sticking to Single Sportsbook
Multiple betting sites are available online for punters. But if you decide to stick to just one sportsbook, it may cause you more harm than give you profitable results. Hence, make multiple accounts at several different online sports betting sites to get the best deal.
Taking Decisions Under Influence
Just like drinking and driving doesn`t go well together, drinking and gambling do not mix well too! Consuming alcohol right before placing your bet can make you less risk-averse. It can affect your ability to think rationally. Thus, if you are enjoying a drink, do not mix it up with betting. Because betting is all about statistics and making a good decision, which is why it is essential to keep your head clear.
Focusing On Tempting Bonus Points
The tempting welcome bonus that is offered by multiple bookmakers site is just one side of the coin. Flip it and you will notice the other side of the coin that involves some heavy betting requirements before you can withdraw the money. These conditions involve some high risks and the matched bonus is 100% of the initial deposit. In addition to this, the bonus and deposit must be wagered several times.
Getting Addicted to Betting
There are two types of addiction in terms of online sports betting. First is addicted to winning cash and second, addiction to gambling itself. If your greed is to win more money then bankroll management is a skill you must begin to learn about. Stay consistent with your strategy and stake plans and you are good to go. But if you are addicted to gambling itself, then you must stop and counter-question yourself. Take a break from betting, realign yourself and come with a fresh mindset.
Excerpts:> No one is perfect and we all make mistake from time to time. But the road to excel perfection goes through the house of mistakes. So if you are new to the art and science of online sports betting, then do read this article to avoid these common mistakes we have mentioned in our article. Getting a grasp on some of the basic cricket betting tips can help you make a profit and will improve your chances of success!
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