There are two major things that make you lose in betting, what are they?
Many practices exist in sports betting, and few strategies sum up the most important areas of this
industry which is to get value for your bets. Matter of fact, bettors must know these things and
apply them every time they want to wager on an event.
Sports betting often gives you two options; win or lose. But there is also a third option that no
one gives you, but you somehow manage to fall into. And that is to make mistakes.
In sports betting, there are two major mistakes that bettors constantly make. They are overbetting
and having no staking plan. These two factors seem like they’re not important, especially if you
already know your way around betting, however you should do your best to avoid them.
In this article we have discussed those mistakes overbetting and no staking plan.
Two Major Betting Mistakes Bettors Make
Overbetting and No Stake Betting are two major mistakes that make you lose when betting in
sports or even betting for football.
Failure to curb these mistakes no matter how experienced you are, can affect your funds
negatively.
- Overbetting
Besides win or lose, there are other options you should consider as a sports bettor before you bet
on an event.
One of such options is reserving your funds by applying strategies, managing bookmaker
bonuses, and accurately managing your bankroll.
Overbetting is one term bettors often use. But, even expert bettors have suffered the
repercussions of forgetting its existence. Here, we explain and tackle this problem.
What Is Overbetting?
Overbetting is when a bettor places a bet that exceeds your real possibilities. While it seems like
a common mistake, it is an extremely dangerous situation to be in and is often characterized by
risking your funds recklessly.
Getting carried away by your presumed betting chances is one common mistake you could make.
Here you lose control of your bankroll and overbetting happens. This error is easy to make.
It may be because you lost in an event and try to make up for the loss by making a new bet
immediately. But, you don’t have enough information on the market or event you want to bet on.
Then, by luck you still win.
However, every time you bet based on something else except analysis and knowledge, the results
will mostly be unfavorable.
Types Of Overbetting
There are two types of overbetting:
Placing Excessive Number Of Bets
When bettors place excessive numbers of bets, they cannot control it. You should measure the
amount of bet you place. And note that the only way to make profits is by betting on the markets
and events you’ve mastered.
Don’t let tipster picks or bookmakers sway you. Monitoring the number of bets you’re currently
placing and how your bankroll evolves is vital.
Betting Without Measuring An Event’s Stake
To bet without measuring the stake in an event is a mistake. To avoid this, learn to calculate the
stake and understand when a bet can yield good profit.
In addition, know when more funds than you planned can be diluted due to loss.
- No Staking Plan
Having a staking plan you use is an important aspect of successful betting, and it is vital that you
follow certain rules when choosing one.
First, choose how much money you wish to set aside for betting. Use your disposable income to
bet and brace yourself for possible losses. This money you put aside represents your betting
portfolio and the amount in it depends on your wins and losses. Once the portfolio is ready, you
can now start developing a staking system.
Having a staking plan protects you from intense excitement that clouds your judgment after a
winning streak. It is also one out of two sources of profit in sports betting. The first thing is the
ability to accurately predict and the second is maximizing your bets’ financial potential.
With a staking system you win more money accompanied with lower risks.
What Is A Staking Plan?
A staking plan or a staking strategy is the process of defining how much of your bank you should
invest in a specific wager.
Types Of Staking Plan
There are several staking methods you could apply to your strategy. We have explained the most
common ones here.
Level Staking
Level staking is a simple staking plan that entails investing the same amount of money for every
bet.
No matter the price collected for the wager, the invested amount is consistent. The amount
should represent a little percentage of your bankroll, and is between 2-5%.
Fibonacci Sequence Staking
Fibonnaci sequence staking plan adjusts in relation to wagers you lose, It is determined by
numbers sequence and is a result of your former wagers.
After you’ve lost a wager, the fixed stake is multiplied by one step up on the sequence.
After you win a wager the fixed stake is again multiplied but by a number down two steps on the
sequence.
Proportional And Percentage Staking
Percentage staking is the process of investing in relation to a percentage of your bank size. When
your bank size fluctuates, your stakes adjust accordingly.
If you can determine how large or small your edge is in a specific bet, you can use an approach
known as Kelly Staking. This staking strategy involves considering both bank and size of the
edge in a wager.
Dutch Staking
Dutch staking or Dutching is a staking strategy where you divide your stake over a number of
selections in a market so that a consistent amount is won no matter which selections win.
This method is mostly used when there are two or more outcomes in an event that you want to
back. Dutching is often used by Horse racing bettors when they back multiple runners.
Sports betting should be ventured into with the mindset that you will not always win. You win
some and lose some. But the one thing that should remain constant is you allocating funds to
your betting wisely and setting limits on the amount you’re willing to lose.
Completely ignoring the dangers of overbetting or having a no-staking plan are two mistakes that
could siphon your money, even if you’ve had winning streaks in the past.
