Beginning Bettors’ Common Mistakes
When you’re starting out in the exciting world of sports betting, it’s quite easy to feel overwhelmed. While you’re waiting for your skills and confidence to improve as you spend more time punting, we have some common-sense advice on the typical mistakes that beginning bettors make, and how to avoid them.
Betting From the Heart
The smart punter bets with his head, and not with his heart. This is especially difficult if you have some kind of emotional attachment to the underdog – perhaps you’ve followed an athlete’s career for years, or the team from your hometown is playing.
Resist the urge to wager based on sentimentality, and make sure your research is on point and up to date. Just because a squad or individual performed well in the past, doesn’t mean they are going to do so now. Loyalty, in all likelihood, will not pay. Save the stories of the underdog winning for movies like The Mighty Ducks.
Whether you deliberately ignore your bankroll or are just unaware of how important it is to manage it, this is the fatal flaw of many a punter. If you don’t pay attention, you could easily lose track of how much you’re spending.
Avoid this obvious pitfall by setting a budget before you start, and then sticking to it. You could also decide on a percentage of your current roll to put on each wager, or bet the same amount every time.
Getting carried away in the excitement of watching and punting on your favourite sport is all too easy, but you really need to keep a cool head. The key phrase here is “managing expectations”. You’re not going to win every stake that you place. Even when it looks like a particular result is a sure thing, something totally unexpected might happen. Remember when New Zealand lost in the semi-finals of the 2019 Rugby World Cup? Nobody really saw that coming.
Getting Carried Away By Parlays
This mistake actually goes hand-in-hand with win overestimation. Parlays can seem really exciting, and it’s a thrill to think about how much money you could win. But not only do you have to win every single stake on your ticket to collect your reward, some bookies give different odds on parlays so they can end up pocketing a lot more. The take-home message here is, don’t bet a parlay unless you’re very sure of each individual result.
Punting While Drinking
This is pretty much a no-brainer, but we’ll spell it out anyway. Do not place any bet when you are under the influence! Your judgement is impaired, and bankroll management is likely to be the last thing on your mind. If you’re visiting a sportsbook lounge, make sure all your punts are in before you grab a beer.
Focusing on Favourites
Don’t follow favourites blindly just because they’re heavy moneyline favourites – keep your eyes open for value bets against the spread. This is where you could pick up some major windfalls. One more time for those in the back – nothing in sports betting sites in NZ is guaranteed!