Avoid Sports Betting Mistakes for Higher Profit Margins

  Saturday, January 23, 2010

It's hard enough to be successful at sports betting when you do it correctly; even the slightest mistake can throw you off. Handicapping and wagering errors can mean the difference between huge sums of money won or lost. Luck of course place a big part in sports betting, but the most successful bettors depend on much more than that, and know that the real secret to winning is careful research, planning, and statistical information.

Some of the most common sports betting mistakes include:

Relying too much on trends. Many sports bettors believe that a streak of winnings from a certain team means this team is going to win the majority of its games. Trends are more often 'backfitting', where a theory is developed to back up a series of specific results (usually a winning streak). Instead of focusing on trends, consider each game individually, the teams involved, where it's being played, etc. Variables like this often play a much bigger factor than many bettors realize.

Betting too much. Money management is one of the hardest parts of gambling, period, and it's where most people fall into trouble. Betting more than you can afford to lose will not only make a serious impact on your bank account, but it will also hurt your confidence and desire to continue betting, very often. Losing is never fun; it's just better to lose money you can afford to than what you can't. Bet within the margins of what money you've set aside for it, and when you do lose (it's bound to happen at some point), it will hurt much less.

Placing too much emphasis on offense. The old cliche goes that 'defense wins championships'. There's a reason this is a cliche: it's true. Good offense is crucial to winning, that's true, but defense is what protects the field/court and opens strategic scoring points. The team that places emphasis on good defense is much more likely to win than a team with aggressive offense and poor defense.

Forgetting which team really is better. It's tempting to analyze reams of statistics and data, but when it comes down to it, a team with a better history of winning has improved odds of winning. Betting on the underdog is often undervalued, but teams win because they have solid strategies, good players, and good coaching. The simple rule to remember is that the better team wins most of the time; just allow for a margin of error when deciding which one to bet on.