Bad Sports Betting Habits That Can Lead To Financial Ruin
Bad Sports Betting Habits That Bankrupt Bettors
It’s said that sports betting takes just 5 minutes to learn but the rest of your life to master. This sounds like a scary proposition for the novice or new sports gambler. But the truth is that most of the elite sports bettors struggle to sustain a long-term profit. More often than not, this comes down to bad sports betting habits. If you’re sharp at sports betting, then you’re going to find it more challenging than card counting or playing poker when it comes to making money. We suggest that most sports bettors you see are actually novices or amateurs. As such, they are more interested in the entertainment value of sports betting as opposed to trying to make any serious winnings. Still, if you go to 1xBet Sportsbook, they do offer all new players a very tasty welcome bonus of 100% up to €100, which is a great way to get started.
Choosing The Right Betting Strategy
Though of course, it’s perfectly acceptable to bet on sports simply for the fun aspect, it can lead to many gamblers failing to implement sound principles. If this path is continued for long enough then it can actually lead to bankruptcy. We thought that it would be a good idea to point out some of these pitfalls, along with jackpot winning tips and tricks to rectify them. The types of betting strategies that will not guarantee you long-term success. Or rather, these bad sports betting habits are sure to lead to certain failure.
Bad Sports Betting Habits: Overextending Their Bankroll
Bank good bankroll management is key to every aspect of gambling, whether you’re playing casino jackpot games or betting on sports. One of the most common mistakes you’ll see when it comes to sports betting is that the punter is betting too much of their sports bankroll at any one time. It’s a poor habit and will lead to the destruction of a bankroll within a matter of minutes. As a given, you should never leverage more than 5% of your total bankroll on a single bet. We would go so far as to suggest that this number should be even lower at just 1%.
If you’re going to be dishing out your bankroll in large segments, then keep in mind that you’ll have a much lower margin for error. Not only will your bankroll be depleted in super quick time, but you can suffer catastrophic losses along the way.
Individual Bet Size Matters
An important point to remember is that if you’re trying to leverage your bankroll into large segments then you have a much lower margin of error. For example, betting 1% of your bankroll requires 100 consecutive losses to wipe you out. Following this, leveraging 5% will see you leave the game’s table after 20 losses in a row. That’s quite a big difference. Though in truth, it’s quite an unlikely scenario. But if you’re a sports gambler, and you put 20% of your bankroll on a bet, then just five losses will wipe you out. On the other hand, if you’re a professional gambler, then you probably won’t flinch at five consecutive losses.
Having A Big Enough Bankroll To Start With
It’s an unfortunate fact, but many bettors, especially novices and amateurs, don’t actually have enough money to bet with. Many of them have less than $100 to gamble with over the period of a month. Yet they continue to believe that this is enough to be able to grow their bankroll through winnings. But the action they should be taking is in the $10 to $20 range. With these small bets, they make a false assumption that by betting more they should be able to grow their bankroll faster. As a consequence of these bad sports betting habits, month after month, their bankroll is completely depleted. In other words, by overextending their relatively small bankroll, they end up with nothing.
Bad Sports Betting Habits: Buy Into the Media Hype
As a sports bettor, it’s important to keep your eye on the media. But at the same time not fall for the media hype. For example, there’s a huge amount of emphasis that is placed on the preseason rankings. But remember most of this information is just fluff. Before the season starts, there’s not a lot to talk about. As a result, the media tends to fix over the dealings of the previous season’s winners and give very little credence to any newcomers. Of course, they will always be a friend of your favourites that continue to show success. And give them more air time and print exposure. But it’s fatal bad sports betting habits like taking notice of these, that’ll lead to a life of woe.
Not Everything Is What It Appears To Be
A good example of this from American football is the media bias in sports media concerning Alabama. Suppose you’re going to be betting on college football playoffs. Then we suggest that you only bet small amounts on Alabama if you hope to win the football jackpot. This may seem strange as they are always ranked at number one in the preseason poll. But the bottom line is that Alabama is simply a victim of its previous success. Unfortunately, you’ll find that each season they have to start again from critical positions. This is because their best players at the upperclassmen level all leave for the NFL. In other words, the team goes back to square one every season.
Becoming A Lazy Handicapper
If you want to be successful as a sports gambler, then you’re going to have to learn how to handicap games properly. This is really the act of evaluating games and trying to find clues as to the possible outcomes. Once a sports bettor has accumulated information, he then needs to look for value bets among the sportsbooks. Now when the lines match, preferably with the selection you have made, then we can say that the bet has “value.”
If you hit up the internet you’ll see that there’s an endless stream of handicap betting resources that can be put to use when learning about handicapping games. This means there’s no excuse for those bad sports betting habits of not doing the proper research before the game or season begins. Head over to 1xBet Sportsbook and check out all the in-depth information they have on just about every sport under the sun.
Bad Sports Betting Habits: Failing To Do Your Homework
But one of the problems of human nature is that people fall into a rut or a bad habit. Over time this becomes nothing more than simple laziness. A psychologist might say that this comes from the poor results that are to be expected when someone is still learning the ropes. The thing about handicapping is that it’s boring and a real drag. And certainly much less fun than watching the sporting action and betting. On the other hand, we can’t be too heavy on punters when they lose. Most of the time they don’t have the drive to really win. More often than not, they are at the match for the experience and the ambience. The hope of a win is a distant second to these. After all, fun is the most important ingredient in the whole sporting and betting experience.
Bad Sports Betting Habits: Neglecting Accurate Record Keeping
In all honesty, if you want to be a successful sports gambler, then you need to keep accurate records. This would also help you to settle the ledger of your wins and losses. It’s one of the most essential jackpot winning strategies that professional sports bettors use to keep a log of everything. So you should follow suit, as having a record of your bankroll movements is of paramount importance to keep your financial head above water. For each and every bet, you should have the sport, the team, result, outcome, location, home or away, injuries, penalties and weather all listed. We suggest that you keep these records in order in a binder or perhaps on your PC.
