Sports betting is a vast market that is growing every year. It is the most common type of pastime for a lot of people. Sports in themselves are fun and bring an adrenaline rush. While betting on your favorite sport, the level of excitement goes one notch up.
Bangladesh is a small Muslim majority nation that follows Sharia law. All forms of gambling are prohibited in Islam. But with time, the country has seen a massive spike in online sports betting.
Cricket and Football are the two popular sports in the country in terms of viewership. Looking at the popularity of these games, even the top betting sites in the world have made their way into the Bangladeshi market.
But, betting is not an easy thing to do. As they say, the more you play with fire, the more you get burnt. There are several bettings mistakes that the bettors make and, in turn, suffer huge losses.
So, here in this article, we will discuss the common sports betting mistakes that bettors make and how they can avoid those mistakes.
Chasing a Loss
Betting does not guarantee profits every day. There will be days when you lose your bets and suffer losses. Win and loss are part and parcel of sports betting. The common betting mistake that the bettors make is chasing losses.
Chasing a loss, in this case, means that the bettors try to reclaim the money they lost in previous bets, by betting hard in their next set of bets. This desperate betting would only lead to even bigger losses in the future. So, you must avoid desperate betting at all costs.
Falling for Touts
The online sports gambling market is unregulated to a large extent. It means that anyone could start a website and offer heavy discounts in the beginning to attract customers. They will promote unnecessary welcome bonuses, flashy advertisements, and high payouts to gain attention.
But, there are genuine and transparent companies present in the market too. So, all you need to do as a responsible gambler is to check the authenticity of those websites. Only after fact-checking, you must make deposits. Make sure that they have valid licenses and work permits.
Unrealistic Expectations Hurts
There are slim chances that you would win a big bet or a lottery. It is because the stakes are always in favor of the house. Still, plenty of new bettors line up every day to bet with their money. They register themselves, expecting that they would win big with one shot.
The bettors come with expectations of winning 70% of their bets, or 100-1 parlay. But, it is not a realistic case, instead, they end up losing big. Thus, it is advisable to keep your feet on the ground and not create unrealistic thoughts in your mind.
Improper Bankroll Management
A bankroll is cash that is kept aside for betting. A responsible bettor always bets responsibly and with discipline. It is advisable to build a small bankroll first before betting. You must create a separate bank account to keep the bankroll.
Also, you must never bet more than 5% of your bankroll. Set yourself a budget and stick to it. It would help you cut your losses, control your spending, and would ensure better profits in the long run.
Placing too many bets
The one betting mistake that the bettors make is they get lured to different betting offers. By doing so, they place more bets than they could afford. Betting 10 to 20 games per night could be fatal.
Bettors must make sure to play in discipline and only bet what they can afford. Investing time and money on several bets at the same time will only lead them to lose more money, and in turn, create more panic.
Not using the Free Bets
The online sportsbook has seen huge growth over the years, thanks to the new bettors registering every day. With the growing competition in the market, the betting companies offer various free stuff such as free bets and deposit bonuses to new bettors.
These free stuff offer extra value to your bets and helps save extra cash. But, several bettors do not use these bonuses while placing their bets. The bettors should not make this betting mistake and always make use of free bets.
Not Researching for Better Odds
Lazy betting is a common betting mistake that bettors make regularly. Once they win in a particular sportsbook, they start believing them unconditionally. Thus, they do not invest in researching, even if other sportsbooks provide much better odds
It is advisable to keep your eyes wide open to all the best odds present in the market. All you need is a quick internet search to find all the best odds online. Even though it takes only a little effort, it could make a huge difference in your winnings.
Conclusion
Online sports betting is a huge market with big potential to grow. But the bettors must be aware that the odds are always in favor of the house. Thus, a small betting mistake could make you lose big money.
Proper research and safe gambling practice are the need of the hour. So, we hope that the above points would help you avoid unnecessary betting mistakes.
