5 Common Betting Mistakes to Avoid

      Comments Off on 5 Common Betting Mistakes to Avoid

After a long day in the office, there’s no finer feeling than getting home, putting your feet up, pouring yourself a drink, and enjoying a spot of gambling online. Thanks to smart technology, we now have the means to gamble anywhere, at any time.

Many online casinos offer free bets and other incentives to welcome new members, and encourage them to stick around, and you’d be foolish to not take advantage of these incentives. But are there any other common betting mistakes you will need to avoid? Actually, yes there are. Here’s a look at 5 common betting mistakes to avoid.

1) Not taking advantage of free bets

One of the greatest things about gambling online, is the fact that there are so many free bets, welcome bonuses, and other incentives to try to get you to stick around and spend your money. If you plan on creating an account anyway, look for the best free bets and welcome bonuses you can find. After all, these incentives are basically freebies, so if you win, you are basically winning from nothing.

2) Trying to win back your losses

As fun as gambling and betting can be, nobody likes to lose money. Because of this, some gamblers out there have been known to try to win back their losses and have ended up losing even more money. The best thing you can do is give yourself a limit, and never spend more than you can afford to lose. If you win, that’s awesome, but if you lose, take your defeat in grace and walk away.

3) Not knowing when to take the money

When you gamble online, there will almost certainly be times when you win money, and hopefully you’ll win big. When you do win however, it’s important that you know when to take the money and walk away. If you bet 10 Euros for example, and win 20, you’re doubled your money, which is impressive. Don’t get sucked into the trap of trying to win even more, because more often than not you won’t win more, and you will probably end up blowing your winnings before you even had chance to buy yourself anything nice.

4) Trying to get rich quick

When we bet on the horses, it would be nice to place a hefty bet on a horse with 100/1 odds, only to have it come in 1st place, and net us a huge amount of money. Unfortunately, it doesn’t tend to work that way. Too many people are obsessed with trying to get rich quick, and so they spend large sums of money, in the hopes of winning big. Sometimes these gambles pay off, but statistically, the odds are not in your favour. The best advice here is to take your time, go slowly and steadily, and try to gradually build up your money, while having a fantastic time in the process.

5) Gambling and drinking

There’s nothing wrong with a pint of stout after a tough day, or a neat whiskey in the evening as you relax and unwind. Alcohol and gambling however, should never be mixed. The reason is that alcohol affects your judgement and can cause you to make erratic mistakes and decisions that you wouldn’t normally make.