When you make a bet, you place money hoping that you’d win. If you have done your research and homework, you stand a good chance that you’d win your bet. However there are things you do that can undermine your chances of winning. Avoid these pitfalls and increase your chances of winning.
1. Approaching Spots Betting as a Hobby.
The first important thing you have to do is ask yourself: Why am I betting in sports? If your answer is “I want to make money,” then you must approach sports betting as a business or job – and not as a hobby. This difference in mind-set makes a world of difference. When you look at sports betting as a business or profession, then you will look at every bet with a cold-minded, analytical, calculating precision. You will let analysis, evaluation and hard data rather than whims, favorites and your desire to get rich quick get the better of you.
2. Playing Favorites
There are two kinds of bettors: the “squares” and the pros. The squares are the casual bettors who bet for fun. They are the ones who always bet for the home team, favorite team, crowd’s favorite or the underdog. The pros (in which you should be one if you are in sports betting for the money) bet only with one goal in mind: to make a profit. Hence, one way to lessen your chances at making money on your bets is when you automatically play the favorites. You play the favorites in two ways:
- You have a favorite team. You may have a team that catches your fancy. Perhaps the New York Yankees, the Los Angeles Lakers or the Pittsburgh Steelers. But sports betting is not about you being the hysterical fan cheering yourself hoarse for your favorite team. You may have a favorite team, but keep your sentiments under check. Approach each game you bet as the cold businessman that you are. You may love the Pittsburgh Steelers, but if you feel you’d win with the Cincinnati Bengals over the Steelers, then place your money on the Bengals. Let your favorite Steelers be damned!
- The oddsmakers have a favorite team and you like to play them. Casual bettors like to bet for the favorites. And that seems to be a smart and logical decision. After all, these teams are the favorites, right? Chances are they’d win the game. While that may be true, the smarter and more professional bettor who’s in it for the money will consistently go for the underdog. Why? By betting on the underdog, the bettor risks less money in the hope of getting more. A bettor who consistently bets on the underdog does not have to have a high winning percentage just to turn in a profit. On the other hand, the bettor who regularly bets on a -150 favorite needs to win 60% of his bets just to break even. Experienced handicappers know that achieving a 60% winning clip is very difficult even if you consistently bet on the favorite.
3. Betting when you are not at your Peak Mentally
Like the sports teams or athletes you bet n, you must be in top condition whenever you place your bests – at least mentally. We again go back to Tip No 1 which is to approach the betting game as a business. You should have a clear mind when you place a bet. Your chances of making a bad pick increases when you bet under the following conditions:
- Under the influence of alcohol
- Depressed, stressed or angry
- Tired, sleepy or overworked
Speaking of the third item, there is such a thing as being overworked from sports betting. As with your regular occupation, give yourself a time –out or vacation when you feel tired from all your betting. A week or month off from betting can do wonders to your gambling acumen. You will get back from your vacation refreshed and more focused with your bets.
4. Having “Get Rich Quick ” Mentality
The pros in sports gambling know that you can’t make millions overnight betting on the outcome of sports contests. You can make millions in the long haul if you are a disciplined, calculating bettor. But if you have a “Get-Rich-Quick” mind-set, you will probably fall for some traps that could make you lose more money than you win. These “traps” include:
- Heeding handicapper or sports savants who claim to have a high winning percentage. Following the advice of people who claim a success rate of 75 to 100% in forecasting way is a sure formula to lose money. The best handicappers can only call it right around 57 – 65% of the time. Anyone who claims better than that either does not know what he is saying or is outright being dishonest.
- Placing Money on exotic and parlay bets. You may see offers for bets for outcomes after 5-innings, half-time, 3rd quarter or for a combo of four games with lucrative odds in your favor. Stay away from these bets. You will not get rich when you play these bets; on the other hand, it’s one of the time-tested ways for you to get your bankroll down to zero.
Remember to keep a level head when you are betting. You are not here to cheer for a favorite team. You are here to make money. But remember also that you can’t get rich overnight in sports betting. Having a “get rich quick” mind-set is one of the easiest was to get poor quickly.