According to a 2018 study, there are over 1 million new punters annually. Most of these punters venture into gambling either for the fun of it or to make some extra bucks on the side. Whatever the reason might be for betting, one thing everyone can agree on is that nobody likes to lose money. As a novice in the gambling space, many mistakes can cost you a lot of money. In the article, we will highlight some of the most prominent ones so you can maximize your bankroll.
Common Mistakes for First-Time Punters and How to Avoid Them
Below are some tips to help you thrive as a newbie in the betting scene.
Signing Up On The Wrong Staking Platform
Your choice of online betting sites can significantly influence your success rate as a young punter. On the right platform, you increase access to high bonuses, rewards, and juicy odds. Some platforms also offer in-depth analysis of games, increasing your chances of making the correct prediction. When you play on the official Mystake website, you also get exposed to various games. Note that betting on the right platform can increase your winning ratio by up to 10%.
Not Utilizing Your Rewards
Some of the best staking sites, like Betify, offer bonuses and rewards whenever you play games. These rewards are given to make you spend less of your bankroll. However, most young punters don’t take advantage of these opportunities, causing them to burn through their bankroll and get frustrated quickly. You can’t afford to make such mistakes to be a successful punter. Every bonus or reward given must be utilized in the best possible way. Note: always read the terms associated with each bonus offer before using them.
Chasing losses is a terrible mistake by most new punters. This mistake has resulted in over 80% of young gamblers going bankrupt. When chasing losses, bettors keep staking on a particular game to recover their funds. To avoid such mistakes, young gamblers must be disciplined and minimize the amount of money and time they bet, especially when they are on a losing streak. Another way to avoid chasing losses is to understand bankroll management.
Getting Emotional About Bets
All emotions must be kept aside when gambling. This is important because emotions cloud judgment when making predictions. The most accurate predictions are made when there are no emotions or feelings involved. One of the ways to limit the amount of invested emotions when betting is to stay away from any team or player you are emotionally attached to. This step helps reduce the chances of wishful thinking about the outcome of a game.
Playing Games They Don’t Understand
As a young gambler, avoid playing games you don’t understand. Without full knowledge of a game, you won’t be able to make meaningful progress in the gambling space.
Gambling is a game of chance; you either win or lose. However, by avoiding the above mistakes as a young punter, you can improve your chances of becoming successful.