Whether you’ve been betting for one day or five years, the chances are you’ve fallen victim to betting strategies or habits, which can be rookie mistakes.
So, I believed it would be good to list seven of the very most common rookie mistakes in betting at ufabet to provide you with the best potential for becoming profitable in the long run!
This is probably the biggest one of all. There’s a reason why betting companies love letting you know about any particular punter every weekend who won £100,000 on a 10-leg accumulator.
As I knew in this article, bookmakers take a margin on the odds of a game. So by combining those bets, their margin is getting bigger. Yes, your payout is getting bigger. Your odds of losing will also be multiplying at the same time
There’s a caveat to this, though. If you combine two or more VALUE bets, you are multiplying your edge over the bookmaker in this case, so if you’re a sucker for accumulators, at the least, combine bets where you have an edge.
Not Tracking Or Analysing Your Gam
Lack of knowledge and analysis of your performance from the bookmakers is among the biggest factors in not becoming a profitable long-term sports bettor.
Checking your results lets you determine whether your strategy is working and whether you are running well or badly. This will subsequently enable you to change your technique for the better.
If you can consistently place bets where you get better odds than a sharp-bookies margin-free closing line, you should be profitable in the long term
Not Having A Staking Strategy
Even if you are placing profitable bets all the time, your losses could still wipe you out without a correct staking strategy
What exactly does a profitable staking strategy seem like? Well, there are two options you can deploy: an apartment stake or even a proportional stake.
With a set bet size, you either put the same wager on each game or add the same wager on games with the same odds and edge.
Flat bet sizing is fairly simple to use, but it’s hard to pick an effective size. A size too big increases the chance of going broke, while a size too low won’t yield big enough profits.
A proportional strategy is where you set a certain percentage of your current bankroll on each bet. The Kelly Criterion is a formula that maximizes the growth rate of your bankroll.
You should be aware that following Kelly Criterion is high risk. You can lower your risk by following 30% of whatever the Kelly Criterion lets you know to do. We at Trademate Sports use the Kelly Criterion, but that is because we have a defined numerical edge. Without that, Kelly isn’t beneficial to implement.