Since sports betting can involve a significant amount of money, one should be aware of several factors before engaging in sports betting. This hobby not only involves the prospect of quick money to make with your 20Bet login.
Especially newcomers often make avoidable mistakes at the beginning of their sports betting careers. Firstly, one should realize that fun and excitement should be at the forefront of sports betting for most of us.
The first major mistake is the belief that one can easily make quick money with sports betting. However, it usually goes differently in the beginning. Many lose their initial deposit within a few days. The first frustration sets in, and one may consider making another deposit to quickly recover the lost money. Therefore, a clearly structured money management system is essential, especially for sports betting newcomers. Before placing any money on a bet, several important rules should be observed.
For instance, one should set a monthly limit and, if allowed by the bookmaker, firmly set it in their betting account so that they are not tempted to spend more money monthly than initially planned.
The second important rule is the amount of the stake. This can be a certain percentage of the existing balance in the betting account. It is strongly advised against making what are called “account bets” (betting the entire balance), especially after two or three losses.
Driven by greed, one easily commits mistake number three. With today’s betting offerings, one can lose their money almost anywhere. Therefore, one should primarily bet on games from an area they are familiar with and that they might follow daily or weekly on TV or in sports magazines.
Stay away from sports where the rules are unknown. If you can avoid these three beginner mistakes, you’ve already mastered the first hurdle to successfully engaging in sports betting. Even if a streak of bad luck lasts for several days, taking a short break from betting has never hurt anyone.
Mistakes to Avoid
Not Keeping Records
A data-driven approach to betting can provide players with valuable insights. Only by recording your betting activities can you draw the right conclusions. You can learn from your mistakes, continue successful strategies, and see in which sports, markets, sub-markets, and leagues you have been successful and which you should avoid or where you should pursue a different strategy.
Keep track of your wins just as you do your losses and make notes on individual bets. The outcome alone can often be misleading. You might have won a bet while your team was actually the weaker side, or you lost a bet that, according to the game statistics, your team should have won.
For football bets, we recommend looking at the expected goals values of a match. They have proven to be very helpful for betting.
Betting Under the Influence of Alcohol
This is essentially a no-brainer. Sports betting is challenging enough when done sober. Don’t make your life more complicated by placing bets when you can’t focus 100% on what you’re doing.
There’s nothing wrong with enjoying a few drinks with friends or going out to celebrate. However, if you are drinking, you should definitely avoid betting to prevent making mistakes with your money that you will undoubtedly regret the next morning.