When it comes to sports betting, there are two schools of thought: support your favourite teams as much as you can, and beat the bookies! If you subscribe to the later school of thought, you may be familiar with the term “masterbetting”. It’s when you place multiple bets on the same event, and basically try to make as much money as you can from one wager. Let’s take a quick look at the damage that this type of betting can cause.
Too Many Bets Can Kill Your Fun
If you’ve ever played the slots, you’ll know how frustrating it can be when you hit a jackpot and suddenly have all the coins in your slot machine drained. Well, there’s a similar feeling when you bet heavily on one side of a sporting event and then that side loses. When that happens, you feel like you’ve lost everything. The only difference is that in the case of sports betting, you can’t take your winnings out via a cash out option. When a bet goes bad, you’re stuck with it.
Watch Out for Combining Different Sports
It’s always nice when a bet pays off, but sometimes the payout isn’t what you bargained for. When that happens, you’ll often find yourself in a pickle because you’ve now committed yourself to another wager. To make matters worse, you’re often forced to choose between an event you’re familiar with and one that you aren’t. For instance, let’s say you’re a football fan and you’ve spotted an excellent opportunity to make some money from a match between the Chicago Bears and the Green Bay Packers. The game is going to be played at a time when you can get your hands on it, and you’re determined to take advantage of the situation. You place a bet on the Bears and instantly feel like you’ve made the right choice because you’re familiar with the team and the game. However, things take a turn for the worse when the Packers win that game, and you find yourself owing money to bookies because of your involvement in a wager you knew nothing about. The lesson here is to bet on the sport you know and love, but be careful about combining different sports or you may find yourself in a pickle.
Pay Attention To The Odds
One of the things that can really hurt your wallet is when you place a wager on an event and the bookies give you odds that are way out of line. In that case, you’ll have to decide whether you want to stick with your original pick or find a new event to bet on. It’s rare, but it does happen that the bookies blatantly manipulate the odds to their advantage, and it’s all the more painful because you know that you’re being fooled. The solution is to be extra careful when it comes to sports betting and make sure that the odds are fair and there’s no funny business going on. You may also want to consider checking out some of the reputable, independent bookmakers online instead of using the odds given to you by the big-name, corporate bookmakers.
Watch Out For Fixed Odds
When it comes to a line on a sporting event, you often have to decide whether you want to take the points offered or the other way around. In the case of fixed odds, you’re in good company because that’s usually how the bookies operate. The difference is that with fixed odds, the bookies will almost always take your money and give you the points. They will do this because they know that you’re more likely to wager on the team you know and love, and they can count on you to bet on them again. The result is that they keep taking your money, and you’re never going to get your winnings back because they’re going to keep on multiplying. When this happens to the point where you’re losing money, it can be very frustrating. The solution is to never bet on fixed odds if you want to have a good time. Instead, take advantage of the fact that you know the game well and choose an even money bet.
Make Sure You Understand The Terms Of The Bet
One of the things that can really bite you hard in the butt is when you commit to a bet and don’t understand the terms. For example, let’s say that the Packers win the game, but you agree to give them half of what you get back from the previous bet. If you look at it from the point of view of the bookies, they will see that you’re an aggressive, sportsmad fan who wants to make sure that your team wins, and they will be willing to take you up on your offer. However, if you had read the terms of the bet beforehand, you would have known that you were supposed to keep the whole thing, and this would have saved you from entering into a potentially troublesome bet. The lesson is to make sure that you understand the terms of a bet before you agree to it. In this way, you can be sure that what you’re committing to is what you want and that there aren’t any nasty surprises. Terms vary from book to book, so it’s always a good idea to check out the wagering requirements of your chosen bookmaker before making a commitment.
Use Common Sense
Above all else, make sure that you use your common sense when betting. If you’re still thinking about going all-in on a football match even though you know that the result is going to be the same as if you’d put your money on the safe side, then you’re asking for trouble. It’s always better to be safe than sorry, especially when it comes to gambling. The lesson here is to use your common sense and make the most out of what you know, rather than betting on something simply because it’s trending or it’s popular at the moment.
Above all else, make sure that you use your common sense when betting. If you’re still thinking about going all-in on a football match even though you know that the result is going to be the same as if you’d put your money on the safe side, then you’re asking for trouble. It’s always better to be safe than sorry, especially when it comes to gambling. The lesson here is to use your common sense and make the most out of what you know, rather than betting on something simply because it’s trending or it’s popular at the moment.
Watch Out For Unusual Activity
One more thing to watch out for are unusual activities involving your bankroll. For example, if you’re watching TV and notice that a certain sports channel is broadcasting a live game, but there’s no information about which teams are playing or when the game is going to start, then it’s likely that you’re being set up for a scam. In the case of an unscrupulous website or person, they may try and trick you into thinking that there’s a real money-making opportunity here, when in fact, all they want is your money. In these cases, it’s always a good idea to refrain from clicking on any dubious links or following any suspicious contacts.
Protect Your Bankroll
To avoid all of the above-mentioned problems, you should always protect your bankroll. The easiest way to do this is by using a tool that alerts you when you’re getting into danger of running out of money. For example, if you’ve placed a bet with odds that are way out of line and are starting to lose money, then take a break. Come back later when you’ve calmed down and checked the odds and the bookmaker’s website for signs of wrongdoing.
At the end of the day, it’s all about common sense and being smart about money. If you want to have a good time and make some profit, then betting is a great way to go. Just make sure that you’re not getting tricked or taken advantage of by any unethical practices.