Top Seven Mistakes in Betting

Why Are We Seeing So Many New Casinos Hit the Market?
Why Are We Seeing So Many New Casinos Hit the Market?

In this article, I would like to highlight the most common mistakes made by German bettors. This is based on my experience on the N1 Bet platform and not a statement in any way about other countries.

1. Overbetting

The first mistake that comes up in my eyes is overbetting which means that you have a feeling that a certain event will happen and bet a large amount of money on this outcome.

In my eyes, it is very important that you stick to the limits that you have set for every single betting bank. Who goes into bets with an active betting bank of 500 Euro without any limits is taking risks because he may end up in situations where he has only two options left: to win the bet, or give away his entire betting bank.

2. Not having a Betting Bank

A very important for people who want to make money over time with sports betting is that you should not spend more than 10% of your monthly income on bets. You can use this as an indication because it also depends on your salary. If you earn 1000 Euro per month, then it is fine if you spend 100 Euro per month on bets, but if you earn 10000 Euro, then 1 000 Euro would already be too much.

3. Fixed Odds/Predictions for Intervals / Accumulators

A mistake that many people commit in Germany is that they bet on accumulators without knowing what is going on.

Another example is fixed odds for intervals, for example when you predict the final result of the match only after 60 minutes.

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The way I look at this is that it is important not to make these kinds of bets because they contain a lot of risks. People who bet the same amount on the Home win, Draw and Away win are taking unnecessary risks because if someone would have given you better odds for extra time or penalty kicks, then you could have won more with your stake.

4. Taking Too Much Risk / Underbetting

We all know that bookmakers offer good betting opportunities but we should be careful and not take too much risk in individual bets. This means that we set up limits and guidelines for ourselves by which we bet, for example, a maximum of 25% of our betting bank on one single bet.

5. Not Knowing Their Games

A very common mistake made by German sports bettors is that they do not have a broad overview of the league or competition they want to bet on. They only know a few teams and without knowing their opponents, they place bets based on gut feeling which can be quite stupid because you would have won more if you had done your research before placing your bets. In addition, doing research takes time and few people are willing to take this extra step which then inevitably leads to losses due to ignorance.

6. Getting into Action Too Late / Watching the Game / Betting Line Predictability

As we all know: being in action too late means that you wait until a goal has been scored to place your bet. This is a bad idea because you have no advantage over bookmakers when they offer their odds immediately after the starting whistle. It can be much smarter to place bets earlier, the risk is lower and the winnings are much bigger when being right.

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It is also very important not to watch games just for fun but actually look at the current score and place your bets when there are still unrealized opportunities. You should try to find out which teams are good on home soil or away, how many matches won recently, whether the team had problems during the last matches, etc. Teams like Manchester United of Barcelona do not need any introduction anymore as everyone knows about their form and abilities which means that bookmakers offer very low odds for these events. If you want to bet against the crowd, then bets on teams like this are usually a good idea as long as you find out which factors would be decisive for placing your bet.

7. Underbetting / Not Looking at Important Facts

Betting on a favorite team is a pretty bad strategy because shops try to cover themselves by offering great odds for underdogs which can be seen in high winning rates for underdogs winning but also losing heavily. This will of course not always happen, especially not when it comes to big names like Real Madrid or Barcelona who are rarely laying below 1.5 goals but if you look at smaller clubs from Eastern Europe or South America, these might be worth a look because of their unknown abilities and the bookmakers not having any information about them.

I hope this article has been helpful and that you will take some of the factors into consideration when placing your bets next time.

I will try to update it as soon as I see new trends and there are even more factors. There is no such thing as a perfect betting strategy but I think everybody should try to find their own way of betting which suits them best. Good luck!

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