Mistakes to avoid when betting online
Online bookies have made taking a punt as easy as picking up your mobile phone. Gone are the days of having to wait in line at the local TAB, surrounded by a motley crew that wouldn’t look out of place on the set of Escape from New York.
Online bookies give us a literal world of sporting events at our finger tips on a daily basis. Odds are adjusted instantly. We have ease of access to the vast majority of horse races from around the world 24/7. With betting online though there are five key things you must be aware of avoiding.
Head vs. Heart: bet smart
This is the oldest conundrum to face punters the world over: should I bet with my head or my heart?
It can be a tough call when betting on a game with a team you have an emotional connection with. But having a punt is not about emotions. You must be ice cold. Feelings, memories, emotions can not cloud your judgement. A professional punter should be able to bet against their own child if there is a profit in it.
For instances, over the last 10 years, during State of Origin time, a rookie New South Wales supporter would be compelled to bet on the Blues out of loyalty and pride to their state. However, the stats just don’t back up that bet.
The Queensland Maroons have literally won twice as many games as the Blues have over the last 10 years. As a Blues supporter your heart might scream to bet on the Blues when Origin rolls around each year, but logically and financially, you should be considering the Maroons.
But on the flip-side, crazy things happen in State of Origin and you should not hesitate making educated bets when there is change in the wind.
Never let your heart get the better of you. Your head is smarter than your heart.
Read the fine print
This is one of those things in life that isn’t exclusive just to having a punt and online bookmakers are definitely no exception. Always read the fine print on promotions, free bets or matched deposits so you don’t get carried away and give yourself the wrong impression.
For example a lot of bookie bonus bets, bonuses and matched deposits aren’t available to residents of Victoria, New South Wales, South Australia and Western Australia due to those states’ legislation involving the promotion of gambling.
If you are eligible for these bonuses, free bets or matched deposits still endeavor to read the fine print relating to these deals. Some require that the winnings from any free bets be played a minimum number of times before any profits can be withdrawn. Some bookies have minimum betting requirements for free bets.
So before using free bets or matched deposit funds at online bookmakers, just beware of the technicalities related to them.
Check your betting slip before confirming!
There is nothing worse than thinking you have just won an absolute mint, only to realise that when you were placing your bet, you accidentally made the wrong bet. Or that you thought you made a $100 bet, only to discover you inadvertently made a $1 bet.
Always check and double check your bet slip before confirming your bet. Ensure you have made the correct bet you want to make, for the right amount so you are not in for any nasty little surprises at the end of the day.
Don’t get carried away
With a world’s worth of sport at your fingertips it is easy to get carried away and a little trigger happy, placing bets on everything you see.
Just because there is a game of handball being played in the Ukraine at 1am in the morning doesn’t mean you have to have a punt on it.
The wise bettor doesn’t get carried away and have a flutter on the first thing that comes their way at any given moment. They wait for events they have a decent knowledge about so they can make an informed wager.
Cash out
This is one of the most important things to beware of when having a bet on sports online. If you have a big win or reach a predetermined winning goal, don’t forget to cash out.
The train of thought behind this one is that by not cashing out and leaving funds in your bookie account, you may be tempted to make bets you wouldn’t usually make. This way, if you cash out after a win you are self-monitoring the amount you let yourself gamble with as well as have the cash in your bank.
Once you set up your account with your online bookie, ensure to go through all of the steps and processes to verify your identity so you can withdraw funds from your account whenever you feel the need.