The chance to make the most of sports betting fantastic online football gambling has never been greater, but even with the required tools and betting systems that are proven to produce a profit, many individuals still end up losing money. This article looks at several of the most usual mistakes people make that may turn the potential for profit into regular losses:

Overbetting

This is a classic mistake that nearly all Gamblers make within their eagerness to make money. You’ve got a great method, that can statistically prove profitable, but there comes a run in the event the right conditions appear to dry up. Eventually, you get itchy feet and start to manufacture bets that do not match your strict requirements, forgetting that it was these strict requirements that determined your profitability. The inevitable happens, the profits turn to losses and in the worst case scenario your betting bank is blown! How do you avoid this? Simple, stick to the guidelines and be patient!

Chasing loses

As a consequence of the above, or simply during a bad run of results (which statistically will be going to happen) we will find the classic mistake of chasing losses. After a loss, as opposed to taking it on the chin and sticking to the program, the gambler will feel cheated and psychologically hurt through the result, vowing to win the money back on the next bet and increasing the amount bet so that you can do so. As always, should the next bet loses the exact same happens and before you decide to know it stakes and losses have spiralled out of hand. How do you avoid this? Simple, again just stick to the guidelines and be patient!

Using your own money

Any money utilized for gambling should continually be viewed as a speculative investment in the same way as stocks and shares are, the cash used has to be totally separate from your own money and must be money that you may afford to lose. In the event you do not keep a separate bank of money for betting, your psychological attachment to it will cloud your betting judgement and can contribute to your failure.

Going for a short term view

Just as no-one would decide the merits of a stock-market investment on the foundation of one day or one hours price movements, the same should be observed when betting for profit. It should be viewed as a long term plan as well as the outcome of individual bets and daily or weekly results should always only be assessed within the context of the long term profitability of the method being used.

Not keeping records

You need to keep records of all of your bets, it becomes all to easy to forget the losses and remember only the winners should you not have accurate records. With accurate records you will be able to view the performance of any system within your betting portfolio over time and handle any performance issues that this may highlight.

Most of the mistakes above mentioned can be avoided by looking closely at the “psychology” of betting. Regardless of how good any system is you will not win all of the time. The way in which you handle your losses and manage your hard earned money will be the major point in deciding your success.