In Part 1 we looked at some common sports betting mistakes and how to avoid them. Here's Part 2, starting with one of the most problematic sports betting mistake of all...
Betting too much money rather than sticking to a plan or a budget, because of the potential winnings, is a common mistake in sports betting.
There's nothing wrong with going after a big win in the right circumstances, you just need to make sure that you take measured and researched risks. An occasional wager at higher stakes is fine if you genuinely believe that it will come off, and speculative wagers at high odds are also good value from time to time.
But don't be in a rush to make as much money as you can and be driven by greed. Making gambling decisions based on greed and potential returns will generally result in a loss in the long run. Slow and steady wins the race for successful sports betting enthusiasts who have gradually increased their bankroll over time.
Laziness is almost as harmful a mistake as greediness. Winning in sports betting takes time, money, effort and research. If you're not prepared to do the work, you're not going to be a winner. This isn't to say that you should spend hours researching every bet, sometimes instinct alone is enough, but you've got to be selective and study the betting markets until you find good opportunities where you know that you can trust your gut.
Betting on sports you don't understand
If you don't really understand a sport, then you are very unlikely to make money from betting on it. You don't need to be an expert on every sport, but some general knowledge is a minimum requirement to equip you with the tools to be ready to bet.
You should only ever make wagers when you have a good reason to do so and if you're comfortable with the sport and the markets that it offers. It's very difficult to justify making a bet on a totally foreign sport, purely because you are not in a position to make an informed decision or set of judgments.
Betting under the influence
Betting under the influence is never, ever a good idea. Being under the influence impairs your judgment and ability to make logical and informed decisions. This might sound obvious but it's still worth mentioning.
If you can avoid these common sports betting mistakes then you'll have a good chance of becoming successful and enjoying your betting career. Learn from your mistakes, don't become disheartened by them and look forward!