Mistake #1. Too much action
Betting on too many games happens to the best sports bettors. You get on a hot streak so you bet more games. It’s a bit counter intuitive but you actually increase your odds by betting on fewer games. It’s easier to 2 for 2 than 8 for 8 in a single day. I’ve always thought people who bet too many games are trying not to lose versus trying to make a profit.
Mistake #2. Betting on a hunch or a feeling
The most common mistake made by recreational sports bettors is betting on a “feeling” or following there “gut”. While this strategy might work short term, remember, numbers never lie! If you want long term success in sports betting you MUST follow the numbers. You must bet on the match ups that give you “Odds Worth Betting”.
Mistake #3. Doing it yourself
Truth be told, unless you got hours upon hours each day it’s virtually impossible to keep up and gain a competitive edge much less trying to exploit the odds for a profit. Think of it like this… When you deal in stocks and funds who do you see? A stock broker. When you deal with a mortgage who do you deal with? A mortgage broker.
You go to these people because you trust them…
They’re trained…
They’re experts!
So shouldn’t it only make sense when you deal in sports you deal with a sports handicapper!
Mistake #4. Betting because the game’s on TV
No doubt, watching a game make the game more intense and fun to watch… but it’s a bad idea to bet on a game just because it’s on TV. Do yourself and your bankroll a favor keep recreational bets… Just that recreational.
Mistake #5. Betting on “your” team
Never… Never… NEVER… bet on a team because it’s your favorite team or it’s your home town team. Always bet on a games for one reason… You have odds worth betting.
Mistake #6. Bankroll management
Bankroll management is never an exciting subject. I’ve never met a sports bettor who gets a rush out of talking about bankroll management but the difference between long term success and short term success is bankroll management. I suggest my clients risking 1-3% of your bankroll per bet. As your bankroll grows so does the amount per bet. I have a free tool you can use, http://www.MyBankrollBuddy.com
Mistake #7. Too many spread parlays
There’s a reason parlays pay 3:1, 5:1 and upwards of 10:1 Because the odds of winning a parlay compared to a straight bet are tough. Over the course of time you might win a parlays but you will definitely lose more than you win.
Mistake #8. Speculating on psychology
Do not over estimate the phycology factor. I hear sport analysts and other handicappers use it way too much… “This game is a MUST WIN!” Listen, I’ve never saw a team on the roed who shows up to lose.
Mistake #9. Not enough research
The one thing that seperates a professional from a recreational bettors is due diligence. Ignoring injuries, weather, trends and other key factors will almost always lead to you putting your money on more losers than winners.
Mistake #10. Betting just to bet
NEVER bet on a game just to bet. There’s plenty of games the odds makers pay less attention to which give you “Odds worth betting”.
Good Luck,
James Jones
* Your trusted advisor at http://www.OddsWorthBetting.com 🙂
