When sports are in full swing, gambling sites and sportsbooks will be teeming with all kinds of gamblers, old and new. For seasoned vets who consistently make profitable bets, the return of football—for example—might be a welcome sight.
New gamblers might also be enamored by the proposition of cashing in on the return of their favorite sport. If you consider yourself to be in the latter category, the next few weeks of your gambling career are important.
The run-of-the-mill new sports gambler is known to make consistent ill-advised bets that often result in repeated losses. If you’re looking to avoid getting off on the wrong foot, there are several pitfalls you should avoid.
Here are six common reasons why new online sports gamblers fail to win money.
1 ‒ Refusing to Familiarize Themselves with Sites
The easiest thing you can do as a sports gambler to make sure your gambling is successful is to become familiar with sports betting sites. Whatever your site of choice is doesn’t matter as long as it’s reputable and easy to use. Newer gamblers tend to deposit their money and immediately rush over to the sportsbook to place their bets.
The issue with this practice is that it takes a little bit of time to locate the different websites’ different areas to make sure you’re betting on the right matchup.
That isn’t to say you’re incapable of perusing sports gambling sites, because I’ve made this mistake a few times before. When it comes to betting on sports, avid gamblers are always trying to get in on the action, and the quicker, the better.
However, it’s not uncommon to somehow select the wrong wager. Some sites are easier to navigate, so before submitting your bets, make sure you have the right one chosen.
2 ‒ Listening to the Wrong Sources
One of the significant demographics sports betting websites target is college students and recent college graduates. All of the popular sports podcasts and television programs feature several advertisements for a variety of these sites. Everyone has their favorite podcast or sports-related program, and I am not one to say what you should and shouldn’t listen to.
A problem that arises is newer gamblers rely on one source for all of their betting information. While sports betting can be a crapshoot, and no one knows future outcomes, some talking heads are better than others. It’s not uncommon for sports gamblers to be misdirected by sources they think they can trust. That can be avoided.
I highly recommend following some industry leaders and professional handicappers. When you do this, you limit the potential to be influenced by a hive mind or echo chamber of certain media outlets.
If you pay attention, you’ll notice several sources will share the same information and recommend similar picks. After conducting diligent research, you can take that consensus and place your bets.
3 ‒ Betting on Too Many Sports
New bettors who focus on one sport in the early stages of sports betting tend to fare better than those who bet on multiple sports. Specializing in one sport is an easy way to get introduced to the sports gambling industry and develop good habits. The alternative of betting on as many sports as possible sounds more enticing, but is a sure-fire way to lose all your money.
Consider betting on the sport you know the best and feel most comfortable with. Never decide on a sport just because it’s convenient or there’s upcoming action. When you take action just for the sake of betting, you’re bound to fail. Every bet should be hand-selected and adequately researched.
Once you start winning money on one sport, nothing is wrong with branching out little by little. A primary key when it comes to sports betting is to make sure you’re comfortable with your bets. You can’t assure that sense of comfort if you’re betting in unfamiliar territory.
4 ‒ Betting Too Much, Too Early
If you are brand new to sports gambling, then you might be unfamiliar with the concept of a bankroll. A bankroll is the amount of money you budget to spend on gambling and gambling-related expenses. Your bankroll can be of any amount and can either be a weekly or monthly amount.
First-time gamblers should keep their bankroll low and make a series of small bets early on. However, the temptation to deposit money into your account and immediately place as many bets as possible can sometimes be tough to pass up.
For whatever reason, new gamblers struggle with the concept of instant gratification. They want to make as much money as quickly as possible.
The truth is that winning money by betting on sports requires an incredible amount of patience. The likelihood of you doubling or tripling your bankroll your first week is minimal.
Even if you get lucky, your chances of cashing out and being content with your winnings are even smaller. Always start small, and don’t place too many wagers on any given night.
5 ‒ Getting Discouraged After a Few Losses
There is not a professional sports gambler on this planet who wins 100% of their bets. In fact, most would be thrilled with a winning percentage in the mid-50s. When you’re first starting sports betting, it’s crucial to lower your expectations and be realistic about your results.
You’re going to lose a lot, especially early, and if you intend to gamble for a significant amount of time. Losses are a part of gambling, and everyone has to experience it at some point. The key to success and longevity is to shake off the losses and make sure no one loss is too detrimental to come back from.
I often notice new gamblers flaming out after a few days of betting on sports. What typically happens is they start strong, get cocky, overextend themselves, and lose a few bets in a row.
Instead of accepting their loss, they chase it, make a bad bet, and lose the rest of their bankroll. Before you start gambling, accept the fact that you’re going to lose eventually, and when it happens, it’s not the end of the world.
6 ‒ Betting With No Consistency
As I said in an earlier point, it’s crucial that you feel comfortable when you’re gambling. An easy way to develop a comfortable rhythm is to stick to a consistent routine. However, novice gamblers shy away from the idea of being conservative and consistent.
I understand several of you got into sports betting to chase a gambling high. While it might not be as intoxicating as somehow doubling your bankroll on one bet, taking a consistent approach to sports betting can still be exciting.
At its core, sports gambling is thrilling. Regardless of how small they are, each bet can feel like life or death, especially if your wagers are coming down to the wire.
Trust me when I advise you to be steady as you’re jumping out of the gate. Make a finite number of bets each day with similar amounts, and make sure not to jump into extra action if things aren’t going your way. It’s always best to live to fight another day instead of completely ruining your first experience real money gambling.
By avoiding the pitfalls listed above, you should be able to get off to a good start betting online. Sports gambling can be challenging for new gamblers, but that’s no reason to avoid betting.
Before you begin, get familiar with the gambling industry and the jargon associated with it. That will help you improve as a gambler.
Never bet at sportsbooks or on sports betting sites blindly. The worst thing you can do is select the wrong type of bet and cost yourself money. Most of the top sites are user-friendly but check out the entire site before jumping into action.
Don’t regard your favorite media personality as a gambling expert. They might have solid tips, but always verify the information they provide you. Consult multiple sources before making any gambling-related decisions.
Start off slow, and don’t quit gambling if it takes you a while to start seeing results. Everyone loses at some point. Once you start gambling, make sure to be consistent in your approach.
That goes for the sports you’re betting on and the amount of money per bet. Consider betting the same amount on each bet so you can make your bankroll as long as possible.
Michael Stevens has been researching and writing topics involving the gambling industry for well over a decade now and is considered an expert on all things casino and sports betting. Michael has been writing for GamblingSites.org since early 2016. ...
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