Did your state recently legalize sports betting?
It seems like it was just yesterday that sports betting was illegal in almost every U.S. state. But now, almost two dozen states have started to allow sports betting and many others are considering doing it.
If your state is among them, you should make sure you know what you’re doing before placing your first sports bet. There are all kinds of sports betting mistakes that new sports bettors make, and if you make one of them, it could cost you dearly.
Check out seven of the most common sports betting mistakes below and find out how you can avoid them.
1. Placing Sports Bets at the Wrong Online Sportsbook
When you first decide that you’re going to place sports bets, it’s imperative for you to do some digging around to see which online sportsbook you should use. With the sports betting industry expected to be worth between $7 and $8 billion within the next 5 years, there are sportsbooks setting up shop left and right these days.
Don’t just choose the first one that you find online. Instead, look around for one that has a lot of experience in the industry. Look for one that offers a wealth of sports betting options as well and that goes out of its way to extend generous bonuses to new customers.
The right online sportsbook will make it easy for you to place bets on the sports that you want when you want to do it. You shouldn’t settle for anything less from your sportsbook.
2. Betting on Sports That You Don’t Know Anything About
The best sportsbooks in the business will give you an opportunity to bet on just about any sport that you want. From betting on football and basketball to betting on rugby and tennis, you can do it all at a great sportsbook.
But that doesn’t mean you have to place bets on every sport known to man. Instead, you should stick to only betting on the sports that you know. This will increase your chances of making educated bets on the different types of games that are out there.
3. Failing to Do Any Research on Sports Bets Before Putting Them In
It’s a good idea to bet on the sports that you know when you first begin placing sports bets. But it’s not a good idea to make these bets blindly without bothering to do any research on them.
You might think you know all there is to know about, say, the NFL. But when you do sports betting online, you should take advantage of the fact that you can learn even more about the sports you’re betting on by doing research on the internet.
Researching different players and teams will help you find out everything you need to know to place smart bets. Even if these bets don’t always hit, you’ll sleep better at night knowing you gave sports betting your best effort.
4. Waiting Until the Last Minute to Place Sports Bets
In the days, hours, and minutes leading up to a sporting event, the betting lines for it are going to change a lot. They’re going to move up and down based on how people are betting on a particular matchup.
By monitoring the betting lines for a contest, you can strike when the iron is hot and get lines that offer a lot of value. You won’t be able to do this when you wait until the last minute to put in your sports bets.
Always have one eye on the betting lines for a game if you think you might bet on it. It’ll help you find the right time to put in a bet on it based on how the lines move around.
5. Putting Down Sports Bets on Teams That Are “Due” to Win
If a team has lost seven straight games and has what appears to be a favorable betting line, you might be tempted to jump all over it because the team is “due” to win eventually. You might get lucky and have this approach work in your favor. But it won’t always play out like that.
A team might look like they’re “due” to win, but that’s not always how sports work. You should bet with your head and not your heart when putting down bets on sports.
6. Taking Sports Betting Advice From the Wrong People
Earlier, we mentioned how there are so many more sportsbooks now than there used to be. There is suddenly a huge market for sportsbooks, which has led to an influx of them online.
There is also a big market for sports gambling experts, which has led to an influx of them as well. Many so-called experts have popped up online and started selling their picks to those willing to pony up cash for them.
You’re welcome to buy picks from these people if you want. But you might be better off learning how to do your own research so that you can make smart bets on sports on your own.
7. Chasing Your Losses When You Lose Sports Bets
There are going to be times when you bet on sports and lose over and over again, no matter how hard you work at researching games. It comes with the territory.
The key is to know when to quit rather than chasing your losses. If you’re ice-cold and getting desperate for a win, you might want to take a step back for a little while to regain your composure. There is no reason to dig yourself into a deeper hole than you’re already in as this is one of the worst sports betting mistakes you can make.
You can always come back to sports betting later on once you’ve had a chance to lick your wounds.
Don’t Make Any of These Common Sports Betting Mistakes
Sports betting is supposed to be lots of fun. But it’s not going to be much fun for you if you’re always making these sports betting mistakes.
Avoid making the sports betting mistakes we just mentioned at all costs. It’ll help you win more of your sports bets and allow you to enjoy yourself more while you’re doing it.
Take a look at the rest of the articles on our blog for more tips on sports betting and other forms of online gambling.