Common Betting Mistakes By Beginners

Daniel Collins

Written by: Daniel Collins

Last Updated: Mon Sep 02, 2024, 12:17 PM

Read Time: 5 minutes

Betting on sports can be a lot of fun, but if you aren’t careful, you can find yourself losing far more often than you would like or expect. This can especially happen if you are new to sports betting, as there are many common betting mistakes that beginners make.

Fortunately, only a little bit of care can limit or erase these issues altogether.

Here, we look at some of the most common betting mistakes by beginners and how to tackle them.

What Mistakes Do Many New Sports Bettors Make?

Common Betting Mistake #1: Poor Bankroll Management

When it comes to common betting mistakes, this far and away tops the list for both new and experienced bettors. Mind you, this is not only limited to sports bettors – all types of gamblers can fall victim to bad bankroll management.

The issues with bankroll management are two-fold. First, some players bet too much of their bankroll on one particular game.

If you think about your bets as units instead of dollars and understand that on the best days you may win 60% of your bets, the key to being successful is staking the right amount on the best odds to grow your balance closely.

In the same vein, we often see people who are betting on too many games at once. That makes it difficult to get ahead. Yes, you may win a few of these bets, but ultimately you may end up splitting the difference at best.

Common Betting Mistake #2: Betting on Your Favorite Teams

Betting with your heart is often a sure-fire way to get yourself in trouble.

If you are a fan of a highly successful team like the Kansas City Chiefs in the NFL, the Boston Celtics in the NBA, or the Los Angeles Dodgers in Major League Baseball, you have been on the right side of a lot of bets over the last few years.

However, that is a small sample size. Over time, if you bet on your favorite teams instead of on the best odds, you may trip yourself up.

Use your head when you gamble – look for the best lines to exploit. Sometimes that may well mean betting on your team. Sometimes, that may well mean betting against your team.

Common Betting Mistake #3: Not Taking Advantage of Bonuses

Another advantage of betting on sports online is the plethora of sportsbook bonuses available.

Between all the different sites out there, you could bounce around taking advantage of signup and reload bonuses from multiple sites, all of which will give you slightly more of an edge.

It must be said that taking bonuses is not mandatory, and some bettors prefer other perks over bonuses, like making the most of sportsbook loyalty programs. But if you are a new bettor, having that extra cash can provide you a valuable cushion.

Common Betting Mistake #4: Taking Too Big of a Risk

The allure of hitting a ten-team parlay sounds magical, doesn’t it? However, this is one of the hardest bets to win – the sports betting version of a lottery ticket.

Making bets that have huge payouts can come with significant risk, and that isn’t what profitable sports bettors should look for.

Sure, having some parlays and teasers can be fun, but that should be a small part of your budgeted betting. Try to grow your bankroll the old-fashioned way – slow and steady. Boring? Perhaps, but you know what isn’t boring? Cashing out winning tickets.

Common Betting Mistake #5: Betting Under the Influence

Many sports fans and sports bettors love to watch the game at home or elsewhere with an adult beverage or two.

However, betting when under the influence can be disastrous.

Making sports bets under the influence can cloud your judgment, as those bets tend to be more emotionally driven. If you do not feel you can trust your judgment when under the influence, leave your phone in your pocket and leave your cash in your wallet. Responsible betting should always be a top priority.

Common Betting Mistake #6: Betting on Unfamiliar Sports

Lastly, one more common betting mistake is wagering on unfamiliar sports.

This can be a factor of having nothing else to bet on at a particular time of day, or sheer boredom with the bets that you currently have in play.

This is not to say that you should not follow through if you want to bet on a sport you don’t know well. However, if you want to be successful, then you should start with some research.

We have numerous pages dedicated to betting on individual sports and what you should be looking at to make informed decisions.

In general, the common betting mistakes made by sports bettors of all experience levels can be easily remedied. It really comes down to being focused on what you are trying to accomplish and operating your sports betting account like you would a small business.

Look for advantages and offers to boost your bankroll, make smart business decisions and look to grow slowly but effectively, and you will find your balance growing in no time.

Other Sports Betting Information

Did you find this information helpful? Along with the daily sports betting news and views we offer, we also provide many guides that break down the basics of sports betting. That includes how to bet on specific sports, leagues, and events, types of bets (such as prop bets or futures bets), betting strategies and terms, and more.

Here are some of the other betting guides you can find at Betting News:

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