Have you heard phrases after some mistake like, «Well, nothing, we’re not robots»? I’ve heard them and I have to disagree. The fact that we all make mistakes is true, but you can’t justify your errors that way. Mistakes should become lessons. Naturally, any life lesson is better learned from personal experience. As the saying goes, you need to get burned to understand that something is being done wrong. Unfortunately, in the case of betting, this comes with financial costs, so it’s better to learn from others’ experiences.
So, let’s look at the key mistakes beginners make when entering betting, both in terms of choosing bookmakers and finding suitable outcomes, bet sizing, and other «difficult» terms we’ll get to know along the way. We’ll examine all of this through the lens of three key aspects:
- Choosing a bookmaker.
- Emotions and psychology.
- Mistakes within the bookmaker itself.
№1. Choosing a Bookmaker
As of July 2021, there are nearly 20 legal bookmakers operating in Russia, which can already be considered in the upper «reliability threshold.» Of course, you should and need to search for additional information about bookmakers. Being legal doesn’t mean being reliable. Out of curiosity, open the terms of any bookmaker. Whether it’s legal or not, there’s always a clause like:
«The bookmaker reserves the right to block the account without explanation, freeze funds on the account, and so on.»
Why am I saying this? Because every bookmaker can «rip you off.» But some value their reputation, while others are ready to hang themselves for an extra penny. Overall, our ratings feature good bookmakers that won’t just take your funds if you don’t break the rules.
In this section, I also wanted to cover a few more very important subpoints!
From the perspective of odds
You might be surprised, but the difference between odds of 2.00 and 2.01 is massive. It seems that even betting a large amount, say 10,000 rubles, you’ll only get an extra 100 rubles. Just a tiny 1% on the win… But why is that one hundredth in the odds so important? As a rule, people get into betting for the long haul. Over a year, the average bettor might make around 1,000 bets. And over the long distance, this adds up to a serious amount. Let’s calculate.
Bet amount — 500 rubles. Number of bets — 1,000 over the year. Wins — 50% of bets. Odds: 2.00 and 2.01.
- So, with odds of 2, we get: 500 rubles * 2 = 1,000 rubles per bet. Multiply 1,000 rubles by 500 winning bets and you get 500,000 rubles in winnings for the year.
- With odds of 2.01, we have: 500 rubles * 2.01 = 1,005 rubles. Multiply by 500 winning bets and you get 502,500 rubles.
Under these conditions, you’re already getting 2,500 rubles in pure profit that might not have been there. And that’s with a difference of just 0.01. If you look into it, you can see that sometimes the difference in odds can be measured not in hundredths, but in whole units. So, choose a bookmaker with high odds, or better yet, create accounts in several bookmakers and bet with the one that offers the highest figure for your chosen outcome.
Registration not with your own passport details
Honestly, don’t make this mistake. Sooner or later, you’ll have to verify your identity, and then problems will arise. As a rule, bookmakers initiate this process after a player requests a withdrawal. It would be really frustrating if someone couldn’t collect their winnings.
Emotions and Psychology
In this area, you need to develop nerves of steel. My father always told me: «You young people want everything and right away.» I’d reply: «And you’re fine with nothing and gradually.» And we were both wrong. It’s «Everything and gradually.» You need to understand and repeat this to yourself as often as possible. Especially the word «Gradually.»
Let’s run through the key subpoints.
The desire to chase losses
Chasing losses at any cost isn’t what we need. We need a cool head. In this regard, you can admire poker players who repeat like a mantra: «The distance will bring it all back.» It means that the bad streak will end and a rise will happen; the key is to wait and not despair. That’s the truth!
Never, hear me, never make bets on emotions. Emotions are the enemy! The friend of a good bettor is analysis and a cool head!
Another problem here is debts. Getting into debt to chase losses after a big defeat is a one-way street. If you feel the urge to borrow money, even a little, go straight to your friends, family, anyone. Go to them and ask them to do something. You can even write to the bookmaker’s support to block your account. Trust me, such «chases» won’t lead to anything good.
Results not meeting expectations
Betting is a fairly slow process. Of course, there are players who throw 100 rubles into their account once a week, build an accumulator with odds of 1 million, and count on a jackpot, but these are rare characters. For the most part, you need to play more calmly and make sure the amount in your account grows gradually. Believe me, there’s no successful bettor who can double their bank every day.
We’ll talk about this later when we cover bank management. For now, just take my word for it, remember it, or better yet, write it down! Haste is the enemy!
The desire to bet on everything all the time
It’s common for someone to get so hooked on betting that when they don’t see good matches, they randomly place bets just for the sake of it. In comes Philippine basketball, second-tier women’s football leagues, even/odd numbers in lotteries, and so on. You need to cut this nonsense off at the root! No, you should bet on things you have at least some knowledge about!
Fixed matches
Well, naturally, we can’t skip the old good «fixed matches.» Undoubtedly, they exist, especially in sports like tennis. It’s not hard to agree with two people on a certain match outcome. It’s easy to convince one person to throw the first set. And tennis players often get disqualified for such manipulations. That’s true, it happens! But!
Imagine a person who can contact a decent-level tennis player, convince them of their honesty, pay a hefty sum for a specific outcome. Pictured that influential guy? Now imagine if information from that influential guy could reach those «shady sellers» on Telegram and other social networks?
In general, such people don’t advertise upcoming fixed matches much. If you slip up too early, the bet gets canceled, and all efforts are in vain. Plus, they’ve already paid the tennis player, and the money flies away. And yes, the people and sites offering to buy predictions have a logical explanation for why they sell them instead of betting themselves. They say things like «I’ve already bet from all my accounts, I want to earn even more» or «the bookmaker’s limits don’t allow me to cover the costs,» and other such stuff. Don’t fall for it.
By the way, I once knew a «fixed match seller.» He gave the first fixed match for free and charged for the next ones. He just named random matches and random outcomes to random people. If the bet hit, the person often came back for a second one, paid for it, and got another random match in return. Standard practice. We don’t need that!
Buying Predictions
Paid predictions, and even free ones, are just a tool for studying a match. Read what they say about the teams, see what bets they suggest, and then decide: either we agree with it or we don’t.
I’ll tell you a funny situation. Once, I read two predictions for the Euro 2020 match between Russia and Belgium. Overall, the content was the same. The information was practically identical, but the conclusions were completely different. In one prediction, the person suggested betting that Belgium would crush Russia; in the other, that Russia would concede no more than one goal.
As you can see, with the same set of information, people draw completely different conclusions. So, predictions for us are a tool for getting statistics and other observations about form, lineups, and other details. Learn to think with your own head! You won’t rise in betting with someone else’s head!
And let’s move on to the main thing, to the mistakes made during the game.
Mistakes Within the Bookmaker
There are several subpoints here too; let’s go through them all.
Bets on Chance
A common occurrence is the desire to pull a fish out of the pond without effort. Pointing a finger at the sky and expecting that finger to pierce the money bag and shower you with crisp bills. Sounds great, but it doesn’t work that way. For even outcomes, bookmakers at best offer odds around 1.95, and for some, as low as 1.85. That means you need nearly 60% wins to come out ahead in such a setup. Are you really that lucky to randomly pick outcomes and achieve that hit rate?
Chasing Odds
The phrase «What if it hits» flashes in your mind. Betting on massive upsets is an important part of betting. There’s even a group of bettors who play exclusively on high odds. But believe me, they don’t just poke at big numbers and wait for a big win. Behind it all is deep analysis. Of course, upsets happen from time to time, but for them, additional conditions are needed:
- Poor form of the favorite.
- Lack of motivation.
- Motivating factors for the underdog.
- In the case of tennis — a long flight, a micro-injury.
There are dozens of such points. If you understand the sport and know something’s off with the favorite, then go ahead, bet on the high odds. But if it’s a bet like «What if it hits,» that’s a total fail. It might hit from time to time, but in the end, you’ll still be in the red.
Mini-story. I got into betting in my first year of university. And I partied so hard that I spent money meant for tuition on… ahem… «drinks.» I was desperate, and in my bookmaker account, I had 2 dollars. I randomly threw together an accumulator with odds of 133, went to bed under the influence, woke up, went to class, came back. I was sitting there thinking where to find money. Then I remembered the accumulator, opened the bookmaker, and saw 266$ in my account. Lady Luck smiled; I was saved. That was 11 years ago, and nothing like it has happened since. Seems like that stick only shoots once in a lifetime.
Incorrect Bet Size
Ask any beginner how much they bet, and they’ll name a figure in rubles. Ask an experienced player, and they’ll say something like «from 3 to 5% of the bank.» Yes, bets need to be calculated in percentages, not rubles. Sadly, no one’s safe from a streak of 5-6 losses. That’s why you have to bet carefully.
10% of the bank is already practically an unaffordable luxury. And what do beginners do? They load everything on their favorite team or half the bank. In the end, two bad bets and boom, the career of a successful bettor is over. 3-5% is the optimal bet size.
Not Fully Understood Theory
Oh, if you knew how many times I got burned on handicaps, totals, Asian lines, and other «junk» before I opened sites and set myself the task of learning what everything means. Don’t drag your feet on this either. From the key mistakes in this point, I can note:
- Total in soccer and hockey is calculated without extra time (without the two 15-minute halves in soccer and without overtime in hockey). Only regular time counts.
- Total in basketball is calculated including points from overtimes.
- The situation with individual totals is similar.
- An injury during a tennis match at most bookmakers means a bet refund. Don’t unnecessarily annoy support if a bet that almost won gets canceled due to an injury.
Incorrect Assessment of Chances
This deserves a separate article, and we’ll definitely write one later. But briefly, there are several absolutely awful mistakes:
- Betting on over in matches between two giants. Say, «Chelsea» vs. «Manchester City.» In the player’s mind, the teams score a lot, so there will be many goals. But you need to consider the flip side. Besides scoring a lot, they also rarely concede.
- Betting on big names. Remember «Leicester» in their championship season. I heavily backed the «foxes» around the 10th round, while most of my friends preferred the fading «Arsenal» and mediocre «Everton.» Every top team has slumps, and it’s better not to get involved. And every mid-table team has surges that you need to catch.
- If a team is stronger, it doesn’t mean there will be a blowout — that’s the wrong thought. Or rather, not always right. Take «Bayern» and «Chelsea» as an example. «Bayern» scores one goal and then continues to «strangle» the opponent. «Chelsea» scores a goal and starts playing very cautiously. That’s the difference. «Bayern» often turns it into a blowout, but «Chelsea» against some «Sheffield» — in one out of three matches.
- If a tennis player is stronger, it doesn’t mean they won’t lose at least one set. Betting on 2:0 in sets has ruined many promising players. Think with your head more often; see how often the favorite gives away a set.
These are just a few tips floating in the air. We’ll talk about them and a dozen others another time.
Conclusion
I understand the article turned out too long. You might have already forgotten what you read at the beginning. So, let’s just summarize. We need:
- Spend enough time finding a reliable bookmaker with high odds.
- Don’t dive into championships and sports we don’t understand well.
- Don’t try at any cost to chase losses after a few failures.
- Don’t believe guys offering paid fixed matches and predictions.
- Don’t bet with the thought «What if it hits.»
- Don’t bet on high odds just for the high odds.
- First, find at least 2-3 options you could bet on, and only then look at which odds to choose.
- Don’t bet on outcomes you don’t understand (for example, Asian handicaps).
Well, good luck!
