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COMMON MISTAKES PEOPLE MAKE IN BETTING

Listening to Expert Pundits doesn’t work

We accept that ex players or commentator might understand the game, but they are not  professional gamblers. With all due respect, do not listen to betting tips has they don’t understand the maths of betting. PS - We are not saying you shouldn’t listen to these people talking about the game, because you might learn something that you didn’t know.  

Seeking Value is a must

For us one of the biggest mistakes people make in betting revolves around obtaining value. Punters tend to bet with just one or two bookmakers, and this of course means they are probably limited in terms of value. It’s actually hard for us to justify loyalty in betting has traditional bookmakers won’t want your business if you start winning. 

We are suggesting you open as many betting accounts as possible, and that you compare odds before betting. This is no different to when you are buying something online, because the chances are you will compare prices and get the best deal possible.  Most successful business people and entrepreneurs will understand you have to buy at the right price, and in betting it’s that no different.

Be aware of Betting falling Odds

This is really a no brainer and belongs in the same category has obtaining Value. If the odds are getting shorter and you haven’t already made the bet, it might be best to scrap the idea and wait for the next. In any case, at least ask yourself why is this happening has their might be valid reasons. Maybe the latest team news is affecting odds, or it could just be the weight of money influencing bookmakers to re-adjust their lines. If the latter is the case and the odds have dropped, don’t take the lower value!

Playing Low Value Side bets

Some people bet for fun, but that’s not what we are coaching here. By that we mean people pay for their hobby and that’s ok for them, but it’s not ok for a serious gambler who wants to beat the system. Side bets are usually poor value, because traditionally bookmakers  bet with much higher margins. Some bookies call them Special bets, but their is nothing special about sides. Afterall, they are designed for the leisure market, and that means people who lose their money to the bookmakers. PS - If you want to bet sides, at least do it on the betting exchanges and negotiate your position.

Cash-Out is poor value

Would you expect to bring merchandise back to a shop and be offered less than you paid ?, we believe the answer is no. Therefore, why would you want to sell your bet back to the bookmaker for a much lower price than it’s worth? Generally speaking, Cash-out is extremely poor value has it pays you substantially less than your ticket is actually worth. Imagine you have made a six team accumulator and you have 1000 going on the last leg. If you cash-out the chances are you will be given 850 for closing the bet early, whereas if you hadn’t added that last leg you would already have been paid the 1000 in full. Why would you do that to yourself?, don’t you recognise its rip-off ?. PS - We have covered cash-out in a separate blog.

Chasing Losses means out of control

If you are chasing losses you are out of control and should stop betting right now. It means you are addictive by nature and this will make a big negative impact on your life. We would advise newbies to set a bank aside and make a proper plan. If you intend betting three games and they all lose just take it on the chin and accept the loss. It’s actually a fact, that despite so called consumer protection bookmakers feed off addiction. If you find yourself losing control, take the self exclusion option. Show mental strength is the message and bet to plan!

Understand bookmaker Rules

If you visit betting forums you will often see punters crying about their own stupidity. Many complaints are based on bonus enticements with the customer clearly not understanding rollover rules. Other rules you have to bare in mind include betting limits. Punters should make sure they never have a ticket with (if winning) that exceeds the maximum payout. These are just a couple of examples, so it’s important that you understand bookmakers terms and conditions.

Betting Forums are mental

Whilst visiting betting forums can be fun for the banter, many of the comments you are likely to read can be plain naive and silly. We would also recommend that you ignore threads from loud mouthed members who could lead you astray. If  being trolled by someone who continually brags while hiding behind his computer screen, take it with a pinch of salt and get out of there. Also, watch for spam and people selling/promoting bullshit systems, they are of no value whatsoever. Suffice to say, we don’t visit forums!