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Have you ever wondered how the Sports bets “smart money” became the smart money? Wondering what the smart money of sports betting does differently from the amateurs? The biggest difference between professional players and amateurs is that professionals keep track of what they do and learn from their mistakes. So with that in mind, here are the 3 biggest mistakes I’ve ever made when betting on sports:
1. Try to make up for losses with the next game
This is the biggest mistake I’ve ever made when I was younger. What would happen is I would get used to winning a few weeks in a row, and then I would run into some bad luck on Saturday and Sunday. I would be losing some money before the Monday Night Football game and instead of being rational about the game I would bet 5 times what I should in an effort to try and recoup my losses from the weekend. This is the safest way to go broke!
2. Make decisions based on emotions instead of logic
This error is closely related to error number one. I used to gamble on games to feel good. For example, as a kid I was a huge fan of the Pittsburgh Steelers. I would bet AGAINST the Steelers just to feel good no matter how the game turned out. If the Steelers won, I would lose money, but I’d be happy because I’m a Steelers fan. If the Steelers lost, I’d be happy because I’d make money.
3. Bet on my favorite teams
This mistake is the flip side of mistake number two. When participating in sports betting, you must separate your feelings from your desire to win money. I used to bet on the Steelers and the Pittsburgh Pirates because I got tired of losing money betting against them. What happened was that when my favorite teams won and I lost money betting against them, it took away my ability to enjoy the victory of my home team. So instead, I’d bet ON my favorite team, and feel twice as good when they win, and twice as bad when they lose!
What can you learn from this? Easy. you must try Sports bets like a job or a business and be professional about it. You cannot treat it as a form of entertainment or an emotional fix and expect to make money from sports betting. If you find yourself betting for the thrill of it, then you really should sign up for a professional handicap service that will help keep you focused on making money rather than feeling good about your bets.