You can try your best to make the perfect bet, but anything can happen in sports betting. In this article we will put forward what we think are some of the most common sports betting mistakes that cost you money and how you can avoid them

You don’t observe

One of the most common mistakes we see from punters is that they forget to observe during the game. We get carried away during the game but learning to observe the help you spot any patterns or trends.

One example is when a horse wins more often when it is on a wet track instead of dry. Pay attention to those details so that you can recognize any patterns that might influence your selection on a particular race.

Betting beyond your means

Running out of money is one of the reasons why more recreational punters don’t make a consistent and long-term profit. This mistake may not be rocket science, but it doesn’t matter if you start out with a very small amount.

Just remember this seed capital is money you must be able to afford to lose. Bet with a bank in mind, and aim to only bet 1-3% of your betting bank on any one bet.

You’re outcome focused

In the long run, the outcomes ultimately what decides profitability but arguably far more important than the outcome of a bet is the process you took to get there.

If your process is sound, due diligence is being done, research is carried out, thought is going into all betting decisions, then eventually the outcome will sort itself out. This is the art of sports betting. It is in the depths of a downswing when winners are made.

Having unrealistic expectations

New punters have lofty expectations when they first start betting. Everyone wants to get rich quick overnight and win 70% of their bets, but that’s just not realistic.

Unrealistic expectations will cause you to make mistakes and you will get discouraged even when things are going well. There is no faster killer of burgeoning careers in sports betting than disappointed expectations.

What you can do is to set realistic goals. These goals will keep you focused and prevent you from misinterpreting your own results.  They also prevent you from getting discouraged.

FOMO (Fear Of Missing Out)

Many punters suffer from FOMO and take fixed prices on most occasions. The market has changed dramatically and market percentages in early markets have continued to shift upwards to often 130%-135%, which is very high.

We recommend you re-evaluate how you approach sports betting in terms of bankroll management. If you are sufficient bankrolled for the bets you should be able to place them with confidence and be happy with the decision regardless of outcome.

Not Exploring Different Markets

When betting, many people tend to stick to one market that they are comfortable with. Whilst this is not the worst thing in the world, especially if it is working for you, it can be a good idea to expand your betting portfolio to increase your turnover and profitability and explore playing on different markets.

It would be a mistake not to do this because you might just learn that you obtain better results and are more of a natural when it comes to betting on some markets compared to others.

Sign up to our newsletter to be notified when a new sports betting education article is published.