5 Common mistakes made by Gamblers

If you have recently started gambling or if you have been gambling for a while with no success – it might be worth looking at some of the common mistakes made by unsuccessful punters. Here are 5 common pitfalls that the novice bettor should learn to avoid.

1# Don’t gamble for the sake of it

Ok, this may sound obvious, but if you are not sure about a bet or cannot find a bet that tick all the right boxes – don’t bet at all! Remember, making no money is always better than losing money; you are not betting for fun, you are betting for profit! Don’t start the day thinking that you must place a bet, instead, just look for opportunities. If there are no good opportunities, wait until another day. Remain disciplined, decide on your strategy and stick to it.

2# Analyse why you lost

Finding out where you went wrong is just as important as studying your successes. Always look at your losing bets with a critical eye and be honest with your assessment. Did you do the correct research? Did you bet on a whim? Did the bet tick all the right boxes? If you did everything right then it may have just been an “honest” loss; after all, sometimes a bet just doesn’t come in. However, if you feel that you broke from your strategy or did not do sufficient research, learn from your mistake and move on. Analysing your losses can be made easier by not committing sin number 3.

3# Always keep a betting log?

If you have started gambling with the serious intention of making money and do not keep a betting log, you might as well stop now. Keeping a log may seem boring or time consuming but when narrow margins are at stake, a gambling log can be vital in helping you find that edge. A well thought out log can act as a quick reference guide for trends within your own betting habits. You can easily analyse your wins and losses and you can tweak your strategy as you go along.

4# Know your strengths

Don’t try to be a jack of all trades; learn what you are good at and perfect it. Many successful gamblers will stick to one type of sport or even one type of bet that can be applied across several leagues or different sports. If you follow rule 3 and apply rule 1 and 2, you will soon discover the best type of bet for you. There is nothing more satisfying that developing your own system or strategy and making a profit from it, and that brings us to point number 5.

5# Keep your cards close to your chest

Talking to other gamblers can be a great way of picking up tips and finding new angles but successful bettors rarely reveal their true secrets. Why? Because if word gets out about a particular system or strategy, everyone jumps on board and the system no longer finds value. If you stumble on a winning formula, keep it to yourself and profit while you can. The bookmakers may pick upon it sooner or later and cause you to take a different approach but don’t make it easy for them by advertising your strategy to the world.