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70 voters

10 Sports Betting Mistakes Every Fan Should Avoid

Updated October 13, 2018 376 votes 70 voters 5.2k views10 items

List RulesVote up the biggest rookie betting mistakes.

Thanks to the internet, sports betting is the biggest – and easiest – it's ever been. Whether it's taking part in a fantasy football league or filling out a bracket for March Madness, there's plenty of ways to get involved. But for those who are serious about putting money down on sports, there's a few things you should never do. 

Rookie sports betting mistakes are common, but fortunately, they are easy to avoid. If you want to know how to bet on sports successfully, you have to invest your time as wisely as your money. Luckily, sites like MyBookie make it simple to discover sports betting strategies that work. Plus, they offer a signup bonus for new users. Follow this guide to learn how to start sports betting without making those beginner mistakes. 

  • 5

    Betting Too Much

    This is another piece of advice you'd think is obvious, but it often proves to be the bettor's downfall. If you keep track of your money and use value-betting, you should be fine. If you don't do those things and come in hot with a lot of money right off the bat, you're probably going to get screwed.

    That's not to say that you should never engage in high-stakes betting. The key is to know how much you have and how to use it, so you don't end up writing checks your book can't cash. 

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  • 6

    Chasing A Loss

    Every sports gambler has been there. You're looking good, the odds are in your favor, and then everything turns to crap. While it's tempting to keep going when this happens, don't try to push through. Chasing a loss is never a good idea in sports betting. It's hard to accept defeat, but when you chase a loss, you usually end up losing a lot more.  

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  • 7

    Not Knowing Your Strengths

    One common problem in sports betting is trying to do too much at once. Having multiple bets going at once is okay, but having money on every sport possible is foolish. There's a difference between playing the odds and being reckless, and to understand that difference, you also have to know your strengths. After all, you probably know certain sports better than others. Fortunately, MyBookie make it easy for you to find the right spread. 

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  • 8

    Misunderstanding Value

    Let's go through a little sports betting 101. Value refers to odds higher than the “true” odds for a given team. In value-betting, you asses risk. Novice bettors don't consider backing the underdog because they think they'll lose. While the team might suffer defeat, a big enough point spread can earn you big bucks: the team just needs to lose by the predetermined margin of points. This happens all the time, since the superior team isn't interested in covering the point spread–they’re only interested in winning.

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