They learn from mistakes, but it is better to acquire knowledge at someone else’s expense. Let’s talk about the classic miscalculations of players when making sports bets.
Incorrect assessment of the event and, as a result, incorrect reading of the odds
The fundamental mistake of any player is to misjudge a sporting event. Most often, the incorrect judgment about the match comes from excessive confidence in one’s subjective opinion with an incomplete set of information. The player’s intuition should be developed, but it is definitely not worth relying solely on it. How to avoid the mistake? We follow simple rules:
Create your checklist from the main information blocks that you need to check before placing bets (weather, referee, current form, personal meetings, tendency to delete, etc.);
Try to form your own line for the match before studying the sites of bookmakers. If there are significant differences, check the information flow again to avoid error;
Errors when choosing a bookmaker
A common mistake many players make is choosing the wrong bookmaker. Chasing high odds or pretty huge bonuses, it’s easy to overlook the pitfalls.
The main criteria for choosing a bookmaker for successful players:
High odds. Low margin is a fertile field for a successful player when looking for a positive mathematical expectation for rates;
Maximum bet limits. It is important that the limits are not cut when the game is successful;
Reliability. It is foolish to repeat 100 times, but a reliable bookmaker is the safety of your money.
So: the choice of a bookmaker must be carried out as competently as possible.
Superficial attitude to balance management – poor money management
Managing your own balance is a very important topic in sports betting. Not a single one, even the most profitable capper, is immune from failure. Correct money management will allow you to avoid large losses during a long series of failures (lose streak).
There are several ways to manage your money. One of the simplest is flat bets, that is, a certain amount or a certain percentage of the total bank.
However, no way to manage the bank will help without proper self-organization of the player. If you are impulsive, overly emotional and unable to keep a cool head, sports betting can be ruinous.
Each player is individual and may have their own psychological barriers when making sports bets. However, there are two generally recognized mistakes – and they will be discussed.
Cognitive distortion is an irrational search for confirmation of one’s own opinion.
Quite often, a bet on a match is formed in the player’s head even before studying in-depth statistics and bookmaker lines. There is a general understanding of the situation, the current form and some general details. This is where cognitive distortion appears: the brain automatically starts looking for confirmation of an already formed rate, leveling out or completely discarding conflicting information.
Anchoring effect is a situation when primary information becomes dominant.
In search of information, the player may come across some fact that will dominate his choice of bet. The rest of the incoming data will not have a global meaning. The binding effect is very dangerous – the player does not see or perceive anything around, which leads to a one-sided assessment of the event.
Excessive focus on losing
A losing streak can unsettle anyone, even the most experienced player. For beginners, such a series can turn into just a nightmare – in p
In search of an opportunity to recoup, completely rash bets will be made.
Losing a bet is not scary. Sport is based on unpredictability, otherwise there would be no bookmakers, favorites would always win and outsiders would lose. What’s really scary for the player is to focus too much on losing streak.
Сareless use of crypto
Many bookmakers offer cryptocurrency eSports bets. Bitcoin has the usual risks of using crypto. The main thing is to get on unscrupulous crypto-bookmakers who want to fill their pockets fraudulently.
Cons of bitcoin for settlements with a bookmaker
Floating course. Digital currency rates are volatile. It is possible that the user made a deposit, won a sportsbet, but withdrew an amount that would be less in rubles or dollars.
No cancellation of transactions. If the user has incorrectly indicated the recipient of the transfer, it will not be possible to return the money, even if the number of the specified BTC wallet does not exist.
How to avoid the mistake? BC on the blockchain – if a project is created on its own blockchain or through a popular platform, this guarantees the honesty of transactions. The system is decentralized, the security is increased. Nobody manages the clients’ funds, and they receive the winnings through smart contracts, which guarantees their receipt.