4 Betting Mistakes You Must Avoid

Before placing your bets at Housebets.com, here are some of the mistakes you should never make. 

Whether you are a new bettor or someone with enough experience in the betting industry, it is easy to make some mistakes that are not ideal financially. 

This is because people often fail to do their due diligence and neglect to follow basic betting rules before placing their bets. 

While the goal of every bettor is to win, the truth is that you cannot win all bets. In fact, the House will always have the edge. 

However, most bettors ignore this because all they see is the potential wins, which lead to mistakes that are easily avoidable. 

In this piece, we aim to examine these easily avoidable mistakes. 

Bankroll Management Failure 

One of the common mistakes you can make as a bettor is failing to manage your bankroll effectively. 

Bankroll management is crucial in betting, as it keeps you financially grounded. Bankroll in betting is simply the money you set aside to fund your betting needs for a specific period. 

This money you are setting aside could be in your Housebets Sportsbook account. How you then use this money you have set aside is what we call bankroll management. 

This is the mistake most people make when betting. They do not have a betting bankroll, while those who have a betting budget do not know how to manage their money effectively. 

Betting with your Emotion 

It is something that is common with most people in the betting community. Yes, as a fan, it is nice to support and back your team. 

However, even if you want to back your team, you should still apply logic before placing your bets. 

Do not place bets just because you are emotionally attached to a player, team, or league. Let logic (stats) guide your decision, even if you are attached to a team. 

Also, read up on the teams you are betting on, even if stats show you how the game might turn out. 

Some teams might be underdogs, but are the bogey side for a particular club. This type of information is important before you place your bets. 

Understand how odds work 

One major mistake you can make when betting is not being able to interpret odds. If you are betting on sports, you must understand how odds work and how to interpret them. 

Odds show you the probability of what is going to happen in a particular game, depending on the market you are betting on. 

This is why you must know how to interpret odds. It is easy to interpret odds when you know the different types of odds formats most sportsbooks use. 

There is the American Moneyline format, the British Fractional format, and the European Decimal format. 

In the European decimal format, the lower the odds, the higher the chance of the bet pick happening.  All these formats are available at Housebets. 

Parlay Greed 

Yes, we all want to win big money from sophisticated parlays, but the truth is, it is only going to lead to more losses. 

While parlays or accumulators are good, it is always good to keep them short. In fact, your chance of winning decreases any time you add an extra game to your parlay.

However, because a longer parlay or accumulator slip means a higher payout, most people like to try their luck. 

But the truth is, for you to win a parlay, all the games you pick have to play out the same way you predicted. 

No matter how solid your picks are, the moment you have a lot of games on a single slip, your chances of winning reduce. 

Ignoring Odd changes

One constant thing that happens in sports betting is the changing of odds. Odds change till the last second before the game is played. 

Even when the game starts, the odds continue to change, depending on momentum. For this reason alone, you must check odds movement before placing a bet. 

If you check the odds of a game a day before, you should also do the same on game day. The reason for the odds changes is down to a lot of factors, including injury to a key player or a change in weather conditions. 

So remember to always track odd changes before placing your bets.