To gain success in anything you do, you need to learn the right things to do and overcome obstacles in your way. However, in most cases, you also need to understand what you shouldn't do. This is also applicable in football betting.
No one likes to make mistakes, especially if we do them over and over again. In the world of football betting, making mistakes can cost you a lot of money. And even worse, people like to bet even more when they know they're losing money which leads them further down a hole they can't escape. It ends up being one mistake after another, a one-way ticket to instant bankruptcy.
In this article, we'll go through the basic mistakes in football betting so you'll have a better idea of what to avoid and take on the right path in making more money.
Lack of Research
First things first, you shouldn't even consider putting your money in a sportsbook without knowing what sports betting is. If you want to be a successful bettor, you must know how much time and effort you need to make it happen. However, many bettors still force their bets without looking at the deeper statistics.
Besides doing extensive research before making a bet, you also need to recognize valuable stats. This doesn't mean that you should know Chelsea's performance on Saturdays with humidity below 50%. Look for valuable numbers and don't be lazy. Once you've got the right things to look for, your bets might start bringing some profits.
Football Betting with Emotion
When you bet with stats, logic, and informed decisions, there's a better chance that you'll nail consecutive winning slips. However, if you bet on anger, subjective opinion, or your attachment to a team, things can go down the red line pretty fast.
For example, let's say you're mad from losing $80 from a bet and there's still $20 left in your bankroll. $80 is a lot of money and you don't care about the $20 left, so you invest in another bet that you didn't even research. This is a bad habit in football betting and must be avoided.
When you've lost a bet and get angry, just call it a day and go to sleep. You'll wake up to a brand-new day with many more opportunities for your bets and hopefully, you'll end up winning some green stuff. This also means that you'll sometimes need to bet against your favourite team. If your heart is bigger than your brain, then football betting is not for you. Football betting is a game of stats, logic, and discipline, so throw your anger and emotions out before starting your next bet.
Betting Too Much
It's obviously wrong to bet too much. Remember and apply the golden rule: Don't bet any money you can't afford to lose. If you constantly put too much money on the line and end up losing most of it, it will ruin your personal finances.
You should prioritize your rent money, bills, and other necessities for your daily life instead of making football betting a priority. Even if you're confident in a team to take down another by five goals, don't bet on the money you're not willing to lose!
Chasing Losses
This is one of the biggest causes of losses for all sports bettors. Emotions and anger may also cause this fatal mistake and the pro bettors are aware of this issue. They know that you won't get anything from chasing losses, and the best way is to stay away.
No one likes to lose a bet, but if your reaction for a loss is to put more money just to even up the terms immediately, then you might have an issue.
The solution to this problem is a little willpower and a clear goal. Make sure to start by betting with the right amount, as we have covered previously, never bet what you can't afford. If your bet does end up in a loss, take a step back and move on. Evaluate your bets and understand what went wrong so you can make better decisions next time. Choose your wagers carefully and don't spend too much time on low-value options. And remember to keep a close eye on your bank!
Following The Crowd
Many football bettors like to follow the general opinion. Betting on the same results or outcomes as the majority seems to make sense, as the majority should be right. In reality, this is a wrong approach for betting, as heavily backed teams don't offer any value.
This is because the amount of money that flows into these markets affects the odds of the betting markets. When the majority bets on a single outcome, the odds of the result will decrease. So even when it started with value, it will be long gone after you've decided to follow everyone else.
This is why it's crucial to make your own betting decisions. Copying what others are doing is a recipe for failure. In sports betting, your goal should be to look for good opportunities before anyone else, so you'll be ahead of the herd. The best opportunities usually come from bets that other people won't spot.
Congratulations! Now you know the common mistakes that people make when betting on football. Keep in mind that there are several other mistakes that you need to avoid. But avoiding the errors listed in this article is an excellent start for your betting journey and you'll be heading in the right direction and start making some money. Check out our Football Betting Guideline to get more useful tips.
