There are a lot of mistakes that gamblers commit and undoubtedly even the most experienced ones are making one from time to time; but the worst part from this is not the mistake itself but not learning anything from that. A full library can be written about this topic but let’s evaluate the three most common and easiest to avoid mistakes one can commit when betting.
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1. Greediness. There is no question that every individual wants to gain as much money as possible and as fast as possible – regardless of whether that individual is a gambler or not. But, in the betting branch, greediness leads to bankruptcy in virtually all cases. Often times one can see people place bets with 5$ stake and with cumulated quotas of over 300. Yes, sometimes, in very rare cases, this can bring a lot of money in an instant. But the fact of the matter is that chances for this happen are as big as being struck by a lightning in a submarine. There are also some gamblers that are increasing the stake when it’s not necessary, just because they had a positive series and think it’s ‘their day’. This behavior in betting can only lead to higher losses than profits.
2. Lack of discipline. In order to be a successful gambler, one needs to be thorough in his analysis and have an almost military discipline when betting. The sad part for a lot of people is that this aspect is rarely taken into account. The betting agencies are also aware of that and sometimes they place ‘baits’ for these kinds of people with some fringe sports and fringe races and it’s not uncommon for people to think: ‘alright, I’ll bet 1$ for that team – in the end, it’s only 1 buck’ but if this happens too often (and it does, in most cases) you might end up losing everything you won on the bets where you applied the discipline rule.
3. Emotional betting. These are the instances when the betters tend to bet for their favorite squad or for their national squad for the simple reason that it’s their national squad or their hometown sportsman. Sure, if you’re from Barcelona and a fan of FC Barcelona and you’re betting that they will win, for instance, a match against Rayo Vallecano, this might not be an issue. But in most cases, betters are placing a bet without making a thorough and rational analysis about that particular event and this leads to loss of money. The best thing to do is to avoid that event altogether and watch it without thinking about money and only cheering for your favorite sportsman or squad.