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Betting Articles

The advantages of betting with Intertops
Lazy Sports Betting Tactics
How to beat the bookies in the over-under markets
How to convert between decimal and American odds
How to get an edge in betting
How to test the credibility of a tipster`s record
Kelly criterion method
How to use Kelly Criterion for betting
How Weather Affects Sports Betting
Increase Your Chances of Winning Long Term Betting on Sports
Intermediate and Advanced Sports Betting
Common sportsbetting myths
Advices on Betting Fundamentals
Betting do's and don'ts
Choosing a staking method based on your betting profile
Betting staking plans
Value betting explained
Sports-betting- a game of numbers
Market movement in betting
Types of odds explained
European types of bets explained
American types of bets explained
Martingale Considerations in Sports Betting
In-play betting
Accumulator betting
Mobile betting
A Crash Course in Horse Racing
A Crash Course In Sports Betting
American odds versus decimal odds
Bankroll management
Money management in sportsbetting- odds, edge and variance
Basic bet types explained
Paying for Picks
Betting on winning streaks
Betting psychology- a crash course about aspiring professional bettors
Popular Sports Betting Beliefs
Do you make these 9 sportsbetting mistakes?
Does intuition have a place in sportsbetting?
Exchange betting
Randomness in sportsbetting
Fractional versus decimal odds
Home team advantage analised
How bad at sportsbetting are you?
Reasons to Keep Betting Records
How bookmakers make money
How bookmakers work
How do betting exchanges work
Should You Bet on Multiple Sports or Specialize?
How do free bets work
How does luck influence short term betting
How good are betting tipsters
Sports Betting for Beginners
How loss aversion impacts performance
How many sports to bet on
How Much Should You Bet On a Sporting Event?
Staking-one method to improve your betting
How much you should risk per bet?
How Sports Betting Has Changed Over the Last 20 Years
How To Avoid A Big Sports Betting Loss
The art of multiple betting
The history of lotteries
The value of information in soccer betting
Three careers ideally suited to betting
Tips for Better Sports Betting Results
Types of Online Sports Betting Bonuses
Understanding and managing your risk of ruin
Understanding Horse Racing Bet Types
Understanding Live Betting
Value betting is an essential skill for bettors
Ways to Increase the Percentage of Sports Bets You Win
What are drawdowns and how to manage them
What are the most common mistakes the bettors make
What are the real chances of winning the lottery?
What distinguishes winning from losing betors
What is a handicap soccer betting?
What is the Fibonacci betting system?
What is the Labouchere betting system
What is the Martingale staking system
Why do we gamble? Irrationality and overconfidence
Why patience is an essential trait for any serious bettor
Poisson Distribution: Predict the score in soccer betting
Fixed Staking vs. Variable Staking
Basketball betting: Bet types explained
7 Sure-Fire Baseball Betting Strategies
How Does In-Play Betting Work?
To Parlay, or Not to Parlay?
Wisdom of the Crowds applied to betting
CASINO ARTICLES
A Novice’s Tutorial on Casino Gambling Games
How to Gamble with Dice – Popular Dice Games and Their Variations
How Online Casinos Helped Me Love Roulette Even More
My Top Three Tips for Getting Comps in Casinos
5 blackjack stereotypes
5 Gambling Tricks You Can Only Use Online
5 LITTLE-KNOWN FACTS THAT AFFECT YOUR AVERAGE HOURLY LOSS IN A CASINO
5 REASONS CASINO GAMES ARE SO ENTERTAINING
5 Things All Casino Gambling Fans Are Sick of Hearing
5 Tips to Managing Your Casino Bankroll Effectively
The Five Most Important Tips I Ever Learned on Bankroll Management
5 Rookie Mistakes in Blackjack and How to Avoid Them
7 roulette variations probably you have never heard of
7 THINGS YOU NEVER KNEW ABOUT CASINOS
7 Ways Casino Players Sabotage Their Chances of Success
How to Tell If You’re About to Make a Mistake with Your Next Casino Bet
The 12 Types of People I Meet in Casinos – Analyzing My Fellow Gamblers
10 SURE-FIRE CASINO GAMBLING STRATEGIES THAT WORK
What I Love Most About My Three Favorite Video Poker Games
The Last Guide to Video Poker Tournament Strategies You’ll Ever Need
Baccarat and the Martingale System – Can It Work?
Is There a Gambling System That Never Loses?
Combining the Martingale System with Odds Bets in Craps
Which Bets on Which Casino Games Offer the Best Odds of Doubling Your Money?
What’s Next for Online Gambling?
Using Self-Discipline in the Casino
20 ONLINE GAMBLING TIPS
Going All-In – When to Bet It All in Poker
10 Things I Wish I’d Known About Roulette Before I Started
Who’s the Best Video Poker Player in the World
Are No-Deposit Bonuses at Online Casinos a Waste of Your Time or Worth Going For?
Are Online Casino Bonuses Worth Taking?
BEATING BACCARAT – WINNING SYSTEMS & STRATEGIES
CHOOSING THE RIGHT SLOT MACHINE
EUROPEAN VS. AMERICAN ROULETTE
EVEN MONEY CASINO BETS
Feel Confident When Gambling Online – 8 Tips to Help You Choose a Secure Site
Finding the Best Slots Online
Gambling and Poker Playing: 10 Things to Know
GAMBLING GAMES THAT ARE REALLY WORTH TRYING
HOW TO AVOID GOING BROKE AT THE ROULETTE WHEEL
HOW TO GET YOUR FIRST ONLINE CASINO SIGNUP BONUS
How to make a million playing video poker
How to Spend Your Gambling Winnings
HOW TO SURVIVE A BLIZZARD AT THE CRAPS TABLE
HOW TO WIN AT ROULETTE
How to Win Consistently at Casino Gambling
How to Win Consistently at Craps
How to Win Consistently at Roulette
HOW VOLATILITY WORKS IN CASINO GAMBLING
Is It Possible to Play Roulette as a Career (Or Even as a Part Time Gig)?
Is One Blackjack Game Better Than Another?
MONEY MANAGEMENT STRATEGY FOR YOUR NEXT CASINO TRIP
ONLINE CASINO DISPUTES
SKILL BASED CASINO GAMES: PROS AND CONS
The 5 secret joys of casino gambling
The Benefits of an Online Gambling Environment
The Best Long-Term Strategies for Playing Progressive Jackpot Slots
THE BIGGEST JACKPOTS IN ONLINE GAMBLING
THE EASIEST WAY TO LEARN BLACKJACK STRATEGY
THE HOUSE EDGE
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The Surprising Secret to Winning at Casino Gambling
Who Takes Care of Your Safety at Online Casinos?
Why Don’t Craps Players Just Use the Right Strategy?
Why I love American roulette
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WHY IS THE DON’T PASS BET BETTER THAN THE PASS BET IN CRAPS?
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What are the most common mistakes the bettors make

While Betting Resources aims to educate bettors about everything from the basics of betting to predictive models, some bettors still fall into the common traps that inhibit success. This article provides a basic explanation of the common mistakes bettors make and how to avoid them. Read on to learn more.

Failing to understand the concept of value

Value isn’t as simple as finding a soccer team on a winning streak that is priced at high odds against a team that has lost a few games in a row.

Value is about understanding what betting odds represent, calculating your own probability estimation, converting it into odds and then looking for discrepancies in what you believe the odds should be and what the bookmaker believes.

One of the most common misconceptions in betting is that good bettors don’t lose. This simply isn’t true. Good bettors lose less often than they win

Bettors often make a mistake when determining what value is. It isn’t an opinion but rather the use of information, data, models (like expected goals) and historical results (handicap performancebeing one example) to form a more accurate prediction than the one provided by the bookmaker.

Once you know what value is, you can begin to calculate expected value for any bet you place - this is essentially a calculation that will tell you how much you can expect to win or lose if you were to place the same bet multiple times over.

Not choosing the right bookmaker

Bettors are given an endless supply of bookmakers they can choose from. Just like any other industry, there are different approaches to bookmaking and everyone will claim to be the best. However, it doesn’t take much to analyse your options and discover that some bookmakers offer a lot more than others.

Not using a staking method

If you want to make a profit from betting you need to have an advantage over the bookmaker (this is referred to as an “edge”). An example of having an edge would be knowledge of team news in a soccer match, changes in the weather in an NFL game or any other potential influence on the outcome of a match that the bookmaker is unaware of.

 

Staking method

Method of calculating the appropriate amount of money to place on a bet for consistent profit making as part of a betting strategy.

GLOSSARY

Regardless of where your edge comes from it is made redundant if you don’t manage your money correctly. The use of staking methods is essential if you want to make money from betting and failing to do so is a mistake that can cost bettors dearly.

If you don’t manage your money when betting, you won’t have any money left to bet - it’s as simple as that. There’s nothing wrong with an “all in” approach, as long as you know not to expect it to result in consistent profits.

Not being aware of cognitive biases

It is natural to assume we control our thoughts and actions but those who are interested in psychology and behavioural economics will know there are certain “biases” that cause humans to deviate from what we would class as rational judgements.

Confirmation bias is one such bias that can be applied to betting - this is effectively being drawn to evidence that suggests the bet you are making is right whilst disregarding evidence that proves otherwise.

The use of staking methods is essential if you want to make money from betting and failing to do so is a mistake that can cost bettors dearly.

Anchoring is another bias that bettors may not be aware of. Anchoring, also known as focalism is the tendency to rely on the first piece of information offered - this could be very detrimental in betting as things can dramatically change in a short period of time.

This lack of objective thinking and logical reasoning can cloud judgement and lead to betting decisions that are based on opinion as opposed to critical thinking. Bettors may not be able to control cognitive biases but one of the biggest mistakes to make is failing to acknowledge them.

Being too concerned about losses

Loss aversion - a preference for avoiding losses instead of acquiring potential gains - is also prevalent in betting and is another cognitive bias that many bettors aren’t aware of.

One of the most common misconceptions in betting is that good bettors don’t lose. This simply isn’t true. Good bettors lose less often than they win and if they lose, they will use a staking method to ensure they don’t lose all of their bankroll.

The presence of randomness and luck in sports betting means even the most sophisticated models can sometimes be wrong. Thinking that you need to avoid losses at all costs is one mistake that bettors should certainly avoid.

Betting because it’s convenient

Even if bettors know what to do in order to succeed and avoid the common mistakes mentioned above, the element of convenience can still undo a lot of hard work. 

Of course, for those who bet for entertainment purposes, betting out of convenience doesn’t matter but if the aim is to make a profit, you should only bet when the time is right (when you have an edge and positive expected value).

The increase in popularity of curated bets, online betting and the emergence of mobile betting apps has made the process of placing a bet much easier than ever before and bettors who want to make money cannot afford to bet because it’s convenient.

Instead of betting on a soccer match because it’s on TV or an NFL game because your bookmaker has sent an app notification saying that they’ve increased the odds, stick to what you know, stay disciplined and remember you’re betting for long-term success, not short-term profit.