Junior sports bettors can find the meanings of all the numbers and all the types of sports wagers confusing at first. It can take a while for them to learn the ropes. Knowledge of sports alone does not make a successful sports bettor. It can be an advantage, but factors such as money management, discipline, and timing are also very important.
They don’t manage their bankroll
Just like any other bettor, junior sports bettors need to manage their bankroll. This will make their dollars go further. They need to set the maximum amount they will wager in a day and what percentage of the overall bankroll to spend on each bet. It is just as important to manage a bankroll when online sports betting as when playing in a land-based casino. Discipline and being able to walk away at the right time can make all the difference.
They place emotional bets
Sports betting is very different from having a sports broadcasting job. Knowledge of the game is good, but it isn’t enough. Beginners often bet on their home team whether they really have a chance of performing well or not. They can root for their home team, but they shouldn’t bet on it unless it makes good sense to do so from a betting perspective.
They don’t look for the best odds
Junior bettors need to do some research to find the best odds. Different bookies offer different odds on similar markets. Bettors must find out which sites offer the most competitive odds. Bookies at some of the new online betting sites will offer good odds to attract clients. When bettors have the best odds, they get a substantial payout when they place a winning bet.
They chase their losses
The best sports bettors lose about 45 percent of the time. When junior bettors lose, they must remember they aren’t alone. They need to conquer that feeling that they need to make back that amount immediately. This often leads to rashness and further losses. Before they know it, they could be involved in compulsive gambling and lose all their money.
They seek higher payouts from parlays
Parlays bring in major profits for sportsbooks and are very tempting to bettors. Putting together bets into a parlay is fun. The problem is that the odds are not in favor of the bettor. Parlays may be great fun, but they aren’t worth the money for beginners.