The sports betting and live casino gambling industry is expected to value at a whopping 140 billion dollars in the next five years. With so many sports like soccer, tennis, cricket, and baseball rivaling for fans’ love and attention, it’s a no-brainer that you might want to place a bet on your favorite one.
But before you start making bets on an online sports betting website or an online casino, you must sharpen your knowledge about the industry’s dos and don’ts. Online betting can turn you into Richie Rich in a day, but it can also make you go bankrupt if you’re not careful enough.
Betting Sites Ranking strives to make online sports betting and live casino gambling safer, easier, and more rewarding. We offer a wide array of betting site reviews, rank reports, daily betting pools, and betting odds to help you make lucrative bets online.
In this detailed blog, our experts have discussed the ten common mistakes online bettors must avoid to improve their bankroll and minimize losses.
So let’s get into the details right away!
1. Choosing an Unsafe Online Sports Betting Website
First things first, online bettors and casino lovers tend to dive straight into placing bets without properly vetting their chosen betting avenue. It’s extremely important to check and analyze a sports or casino gambling website before depositing money and placing your bets.
Your best bet is to check the reviews of Betting Sites Ranking’s top 10 sports betting sites. Our platform offers complete details about the safest and most reliable betting websites like Bet365, BetUS, Betway, 1xBet, 1xBit, WilliamHill, and more. You can also find the most amazing betting websites in your region to eliminate the risks of currency exchange deductions and betting bans. This is when we can help you learn all about reading odds, maximizing payout ratios, beating the house edge, and other live betting techniques. You can also access the best betting sites that require no verification through our platform. Our website has guides to mastering UEFA bets, NFL bets, NBA bets, premier league betting, UFC bets, and MMA bets.
A sports betting website or an online casino must offer handsome signup bonuses and winning prizes. They should have accurate and latest odds to help punters make the right move at the right time. In addition, you must choose a sports betting website with positive reviews. You should also check the sports betting medium’s payment mediums and variety of offers. Pay attention to their daily betting updates and use their online chat portal to ask about the latest offers and promotions.
2. Chasing a Previous Loss
Online sports bettors should never take the stress, sadness, and despair of their past losses into the future. Chasing losses can lead to bigger, more significant bankroll wastage. Online punters should pay attention to improving their betting strategies by learning newer, more effective ways to bet on sports and win real cash.
Losing streaks are a common part of any sports bettor’s betting career. It happens to everyone at least once in their entire gambling period. But attempting to reverse that fortune by making poor bets in the future will only cause you more trouble.
At Betting Sites Ranking, our team has numerous experienced sports punters, casino gamblers, and live bettors. They belong to different geographic regions and have diverse backgrounds. However, all of them have one thing in common—they’ve gone through a losing phase in their betting careers.
According to our team, you should take a break for a while if you’re dealing with back-to-back betting losses. Don’t let it destroy your love for a game or sport. Sometimes, online sports punters should take a backseat, have a beer, and enjoy their favorite sport without getting into any betting pool.
Using a non-certified, unlicensed, and unsafe online casino site can endanger your money and online profile. Don’t forget to browse our platform to find the safest and top-ranking betting sites to minimize online scam and privacy breach risks. Learn all about online casinos and sports betting at Betting Sites Ranking. Our platform offers you access to the most amazing sports betting sites, the safest blackjack sites, and betting apps worldwide. Whether you’re in America, UAE, or Europe, start betting today!
3. Not Paying Attention to the Odds
The odds are highly significant in online sports betting. They weave your path toward success and help you make well-informed bets. However, keep in mind that odds are slightly different from probability. They’re numbers signifying a player, team, or side’s chances of winning or losing a game.
Odds are extremely helpful for online sports punters who want to make strategic bets on game favorites and underdogs. They are calculated according to a player or team’s past performance, current form, lineup, victories and losses, and overall performance. Online punters, however, forget to pay attention to sports betting odds. They tend to skim through the latest odds on random websites and make poor bets.
Recommended Read: How to Make The Most of Sports Odds — The Ultimate Guide
You must always choose a betting website that lets you bet on sports and win real money and equips you with all the latest online betting resources. Betting Sites Ranking is your go-to stop to find the best betting sites, online casinos, crypto betting sites, and betting apps in the world.
You can access tennis betting apps and websites in India, China, Ghana, Africa, Dubai, Malaysia, Canada, or any other country. You can also rely on us to find top betting and live gambling websites and apps such as Sportsbet, BetUS, and Stake.
4. Following a Cookie-Cutter Online Betting Format
This goes for both casino gamblers and online sports bettors. Sometimes punters pick the safest online betting website, read the most accurate odds, and manage cash most efficiently. But they fail to create an effective online betting strategy.
While consistency is key to rewarding sports betting, you must be open to trying new betting techniques and strategies. Making betting format alterations is the key to mastering the art of live betting. It’s spontaneous, exciting, and highly rewarding. You should be able to mix and match different sports betting types to create a tailor-made approach for your next betting plan.
Try different betting forms like Moneyline, prop, and match betting. In addition, you can leverage diverse betting options like live betting, bet building, live stream betting, and cash-out betting to limit your losses and boost winning sums.
For example, you may have won huge online soccer bets using parlays and in-play betting, but the same duo may not help you win an upcoming horserace betting. You’d want to customize your strategy a little bit and switch to each-way bets for better returns.
From Bet365, BETUS, and Betway to Intertops, Bet2u, and V-Bet, you can learn about many online betting websites on our platform. We regularly post new blogs and online casino gambling guides to help punters make the most of their online betting matches.
So it’s all about studying a sport or casino game and picking your betting format accordingly. Making blind bets is one of the gravest mistakes any sports bettor can ever make, and that’s why we’re here. Betting Sites Ranking aims to assist gamblers in making profitable bets by polishing their knowledge and skills. We offer ample resources like betting guides, how-to blogs, and the latest betting industry insights to enrich your know-how.
5. Changing Unit Size Too Often
Disciplined money management is an online sports bettor’s best friend. But unfortunately, punters ignore this truth and tend to make harsh betting decisions. When you’re on top of your game, don’t risk more just because you’re overconfident. Similarly, if you’re struggling to win bets, never try to win all of your lost bets back all at once.
In such cases, you must take a lean or flat betting approach. Unless you have a clear and high quantifiable advantage on a bet, don’t bet more than 1-5% of your bankroll on it. Advanced online bettors may argue that flat betting doesn’t offer high ROI. However, we strongly suggest beginners take this approach as it helps avoid bankruptcy and get a hang of the betting industry before you dive any deeper!
6. Succumbing to Trends and Emotions
Online sports punters and casino gamblers tend to follow their guts and emotions when betting online. While it may seem inevitable, letting your emotions or a piece of trending news get the best of you can be your biggest slip-up.
Don’t just bet on a team because it has won four games in a row or don’t double your unit just because you’re great at playing blackjack. Historically speaking, such bets have always been overvalued by the industry. An overvalued bet doesn’t just have a big payout attached to it. It also involves a significant risk for online bettors.
On the flip side, bettors move away from underdog teams and players just because these bets have been undervalued in the industry. But the surprising part is an undervalued bet involves high risk for bettors but an equally bigger payout. If you make a well-informed bet on an underdog team or player and win, you may be able to bag your bigger payout ever!
7. Falling for Gambler’s Fallacy
Gambler’s fallacy is a common phenomenon, and if you’re an avid sports bettor, chances are you might have heard of it. It refers to the belief that if something happens more often than expected, it’s going to happen every time in the future.
For example, you’ve experienced a black number hitting 10 in your last four online roulette games. Now you’d want to place your bet on a red one just because it’s due. No, this is not the right way to play an online casino game. You cannot just make decisions based on your guts and past play formats.
Each roulette table is different and is created by coupling independent spins, so there’s no point in making a bet on a number just because it helped you win the last time. This theory also applies to online sports gambling.
Don’t bet on a team just because it lost two consecutive games against the opponent. They aren’t guaranteed to win the last, no matter what your instincts are telling you! Always read the odds, see team lineups, learn about each player’s performance, and assess score charts before placing your bet on a favorite or an underdog.
8. Making Too Many Bets at Once
If you’re a professional and know your way around making multiple bets at once, go ahead and do it again. But if you’re a novice and are still learning how to navigate online sports betting, we have some tea for you.
Making different types of bets at once means you’re engaging your bankroll in an undesirable situation. As a beginner, you may not be able to track more than two bets at once. Each bet should be considered important, and you must pay attention to win.
Idle cash and betting for fun go well together, but you should bet a small bankroll in one go. Always limit the amount and number of bets. Stay within your budget and take smaller steps. This way, you’ll be able to gauge pro punters’ moves, learn new tricks, and grasp the best practices for the future.
9. Missing Out on Free Bets
Agh! This one’s the most disappointing online betting mistake. Who doesn’t love something or basically anything for free, right? And if that something is a free bet, we’re all in. Start by looking at different bookies offering betting pools for sports you’re betting on. Check their odd listings for particular events and compare them with your bookmaker’s odds. We recommend you collect odds from the safest and most popular sports betting sites like Bet365, BetUS, and Betway to save time and hassle.
Sadly, many online sports bettors and casino gamblers out therearen’t aware of renowned and safe betting sites that offer free bets, risk-free moves, and matched bonuses. These three things are like a goldmine for online sports bettors. Leveraging free bets and betting plays can be a great way to test the waters without risking your money.
Recommended Read: Esports Betting: Top 15 Tips to Keep in Mind This Winter
Online punters who don’t know about or ignore taking advantage of risk-free bets are simply leaving a huge payout. You can find the best betting sites’ reviews on our website and pick your favorite one without a doubt! Our experts vet each betting platform in a very thorough manner and rank them according to pre-determined and strict criteria.
Our top-ranked betting websites aren’t just safe. They also offer amazing signup bonuses and free bet promotions as a welcome gift for new punters. Our website is replete with up-to-date sports betting sites reviews. We rank sports betting websites and live casinos in terms of their payouts, signup bonuses, and cash prizes. You should pick a website that welcomes new bettors with unique and lucrative bonuses to help them make initial bets without depositing any money.
In addition to welcome bonuses, you must also look for betting on sports gambling sites that offer free bets, risk-free bets, and no-deposit signups. Check out our favorite sports bettingwebsites now.
10. Betting On Sports or Playing Casino Games You Don’t Know About
Knowledge is power—and it’s true for online sports bettors and casino gamblers too. This industry has become extremely competitive and packed with professional punters. And you’d not want to lose your money on online bets.
Online sports bettors sometimes get too invested in choosing an online betting website or having fun playing casino games that they forget one main thing—continuous learning. Betting on sports or casino games you don’t know about can turn major wins into big losses. You may lose a lot of money just because you didn’t know how a game or sport’s rules. It may also be quite embarrassing to lose due to under-preparedness.
Recommended Read: Craps Strategy & Odds: A Brief Guide on How To Win
At Betting Sites Ranking, we advise online sports bettors and casino gamblers to learn about a game or sport before betting on it. You should learn about the game rules, history, techniques, formats, players, and teams. Check the past scores and game outcomes to find out how online bettors won. Pay close attention to the betting mistakes and ill moves that didn’t bode well for the losing sides.
As a new online bettor, you’d probably struggle to find your way to big wins and cash prizes. Computer bots and players are very smart at defeating newbies and ensuring low payouts. You don’t just have to choose the safest online sports betting,and gambling site to prevent online scams and glitches but also keep up with advanced betting strategies to win big.
A Few More Mistakes You Should Avoid When Betting Online
Here are a few more things you shouldn’t do when betting online:
- Subjecting your betting strategy to betting news
- Don’t waste time digging for gold and test different betting techniques to discover what works best for you
- Never opting for the Contrarian view and always following the herd
- Not betting on an underdog
- Not being able to retract your bankroll when things get tough
- Setting unrealistic expectationsand trying shortcut ways to win cash
- Sticking to one sportsbook or online casino
- Thinking that online betting can become a steady source of income
Don’t be scared, online sports betting and casino gambling aren’t as difficult as you might think. All you need is the right mindset and information. Try to follow a reliable online betting tipster to keep track of the latest industry changes. Keep your bets steady, and bankroll managed, and head in the right place for guaranteed success!
Recommended Read: How to Successfully Gamble Online Using the Power of Psychology
Let Us Maximize Your Online Betting Success and Help You Bet Online with Real Money!
Betting Sites Ranking has a team of experienced live sports punters and casino lovers who offer guides and blogs for aspiring online sports bettors. You can learn all about how to play casino games online, how to bet to win real cash, how to choose the right casino gambling and sports betting app, and more!
You can check out these websites through Betting Sites Ranking, where our team has also published detailed sports betting reviews and guides to help you! Whether you’re in China, Japan, Africa, Canada, the USA, the UK, or any other part of the world, we can assist you in finding the best online casino and sports betting websites. If you’re looking for a reliable online betting website with a wide range of live betting pools, we are here to help.
Betting Sites Ranking has a team of experienced live gamblers and sports punters sharing countless guides and how-to blogs via the blog section. We help our online betting lovers learn about casino and sports gambling sports betting and use VBet, BetUS, Betway, and Bet365, for guaranteed wins. Our accurate sports betting odds, casino gambling probability cheat sheets, and safest betting sites reviews are your ultimate source for making rewarding live bets.
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