The sports betting industry can be extremely cruel at times, and there are many ways to lose at sports betting. My name is Wunderdog, and I am a sports handicapper that has spent over two decades in the industry.
If you are someone that is in the sports betting industry, then this article will likely highlight some of the ways that you have already failed while betting at sports. I am not here to highlight your failures, but to point out the ways in which you could improve.
If you are someone that has made the following mistakes in the past, then there is always time to turn things around. If you are new to the industry, then here are some things to avoid when betting on sports.
Table of Contents
Sports betting: No Solid Bankroll Plan
One of the biggest reasons that most sports bettors fail is because they do not have a solid bankroll management plan set up when they enter the industry. This might not seem like a big deal, but it can be the difference between you lasting in the industry or bowing out after just a few weeks.
It takes money to bet on sports, and some people just don’t have enough money to really give the sports betting industry a solid try. If you have not developed a solid bankroll management plan, you should not be surprised when you are out of the industry very quickly.
Bet With Different Units
Some people lose at betting on sports because they bet with different units. Most people figure out their betting unit when creating a bankroll management plan, which is always a good idea.
A “unit” is the amount of money laid with each bet, and it should always be the same for every bet made. This will take some of the decision-making out of the process and ensure that no one bet is more important than another.
Bet Under the Influence
Alcohol and sports go hand in hand for a large population, but these two things should never mix in the sports betting industry. Bettors that bet under the influence are at a huge risk to lose at sports betting.
Enjoying an alcoholic beverage when watching sports is perfectly fine, but it’s a major problem to have some drinks and then place a bet. If you are going to make some bets on sports, you need to do it with a clear mind.
Ignore Professional Handicappers
I am a professional handicapper, and my job is to help sports bettors succeed in the industry. I can’t do my job unless bettors subscribe to receive my picks.
A majority of sports bettors don’t enlist the help of sports handicappers like myself because it comes with a cost. This cost can end up making you a ton of money in the long run.
If you are new to the sports betting industry, then it is extremely important to enlist the help of a sports handicapper. Us sports handicappers are good at what we do, and we can provide winning picks each day.
Chase Losses
Chasing losses is another major problem for some in the sports betting industry, and it almost always equates to losing at sports betting. You need to understand that you are going to lose when betting on sports, and you don’t need to try to make up for those losses immediately.
I will provide you with picks each day, and you can use these picks to help you get on track. There are times, though, that sometimes it is better to take a few days off and not try to chase your losses.
Each day will present a new opportunity, and it is wise to take some time to regroup after you have suffered through some rough days.
Always Bet Your Favorite Team
Another way to lose at sports betting is to always bet on your favorite team. It might seem wise to bet on your favorite team because this is the team you know the most about, but this can be a huge mistake.
The biggest problem with this method is that you will be betting with your heart and not your mind, and this is always a bad idea in the sports betting industry. You need to leave your emotions out of the equation if you plan on becoming successful in the sports betting industry.
There are certain times when betting on your favorite team can be the right play, but most of the time, it is best to stay away from that bet. Trust me, I have spent more than two decades in the industry, and I know that this is a terrible idea.
Sports betting: Stick to One Sport
Another reason that some people lose at sports betting is that they stick to just one sport. It might seem like a good idea to become an expert at one sport, but it also limits the betting opportunities.
Depending on the sport, this could also limit the amount of time you have to bet, as some sports have just a short season. This can leave a sports bettor searching for random bets to make when the normal season is over.
If you want to succeed at betting, it is wise to make bets on several different sports. I want to remind you that you do not need to become an expert to bet on a sport, but you will have to do your research.
Sports betting: Follow the Public
Another reason that some people fail in the betting industry is that they tend to follow the public when it comes to betting on sports. It’s wise to look for betting trends when making a sports bet, but it’s not always a smart move to simply bet right along with the public.
There is a reason that sportsbooks throughout the world continue to grow, and that is because they can beat the public more often than not. There are times when the public gets it right, but those times are less than the majority.
If you see the public hammering a certain betting line, then it would be wise to take a closer look at that bet. Don’t just assume the public will get that bet right, because the statistics show that fading the public is usually the better option.
