Lots of websites offer basic guidelines on how to recognize the most common gambling mistakes and work on prevention. But, none go the extra depth and we’re here to change that.
The biggest downside we’ve noticed on other websites is they make mistakes look like a bad thing.
Yes, in essence, they have a negative connotation… but that’s only if we make the same ones over and over again without taking the time to look back and learn something from them.
Today, we hope to change your perspective on some of the most common gambling mistakes. But, at the same time, we aim to help you understand why they’re happening and how to work on prevention.
<h2 class="p2">Lesson #1 – Learn from Your Mistakes</h2>
Let’s address the most important things first – learn from your mistakes! It’s not a skill – it’s a mindset!
If you find yourself constantly making some of the most common gambling mistakes, it’s time to take a break, focus on past experiences, and keep track of your gambling activity.
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This will help you learn your wagering habits, profit/loss ratio, and most played games.
Furthermore, keeping track of your gambling activity will uncover potentially dangerous behaviors like excessive spending and chasing losses.
The common gambling mistakes we’re referring to are as follows:
💥 Poor bankroll management
💥 Chasing losses
💥 Allowing emotions to take control
💥 Not knowing when to stop
💥 Failing to do enough research
💥 Focusing on match-winners
💥 Focusing on short-term wins
<h2 class="p2">7 Most Common Gambling Mistakes</h2>
In this section, we’ll take a closer look at each of the aforementioned gambling mistakes. No matter your experience level, you’re bound to find something you don’t know.
Once again, it’s not just important to be aware of mistakes you can make when gambling online; it’s important to know how to not make them again.
<h3 class="p4">Failing to Manage Your Gambling Bankroll</h3>
First things first – let’s talk about your gambling bankroll. The most common mistake beginners make is exactly this.
They deposit an amount they’re comfortable with losing, end up losing it in two days, then go on to deposit double that the very next day.
<img class="size-full wp-image-2490 aligncenter" src="https://winz-blog.s3.eu-central-1.amazonaws.com/casino_bankroll_f00b52210e.jpg" alt="Casino Bankroll Decorative Image" width="750" height="438" srcset="https://winz-blog.s3.eu-central-1.amazonaws.com/casino_bankroll_f00b52210e.jpg 750w, https://winz-blog.s3.eu-central-1.amazonaws.com/casino_bankroll_300x175_c45e3ddb42.jpg 300w" sizes="(max-width: 750px) 100vw, 750px" />
Such a system won’t be good for the long-term finances, that’s for sure.
But, there’s a thing called <a href="https://winz.io/blog/tags/bankroll/">gambling bankroll management</a>. It’s a skill we advise all new players to work on. It takes a bit of time to get everything up and running. But, if you can overcome the initial hurdles, your personal finances will thank you.
<h3 class="p4">Chasing Losses</h3>
This is, without a doubt, the most vicious cycle a gambler can find himself in.
The term “chasing losses” represents players who continue to make subsequent deposits even though they’ve already splurged through their bankroll.
They do this in a desperate attempt to break even. But, you’ve guessed it, things usually don’t go as planned.
How to tell if you’re chasing losses? Well, have you recently demolished your bankroll and then gone on to deposit more? If your answer is yes, then we reckon you have a problem on your hands.
How to prevent this from happening? Self-control and <a href="https://winz.io/blog/why-promoting-responsible-gambling-is-important/">responsible gambling</a>!
There’s no secret recipe. You need to remind yourself that you’re losing real money which could endanger or break your relationship with those around you.
This is serious business, we’re not exaggerating. Chasing losses should never be taken lightly!
<h3 class="p4">Allowing Emotions to Take Over</h3>
If you’re the emotional type, you might have trouble containing your inner self when gambling online. We noticed lots of people play when they’re stressed out or outright angry.
Betting on sports or playing any sort of <a href="https://winz.io/games/slots">casino games</a> when you’re in this condition won’t be fun. You’ll end up breaking your own bankroll management rules and potentially end up chasing losses.
<img class="size-full wp-image-2492 aligncenter" src="https://winz-blog.s3.eu-central-1.amazonaws.com/casino_bingo_60c060899f.jpg" alt="Bingo Decorative Image" width="750" height="438" srcset="https://winz-blog.s3.eu-central-1.amazonaws.com/casino_bingo_60c060899f.jpg 750w, https://winz-blog.s3.eu-central-1.amazonaws.com/casino_bingo_300x175_0e53ef7cc7.jpg 300w" sizes="(max-width: 750px) 100vw, 750px" />
We already explained just how dangerous that is. No need to repeat it.
Another thing we’d like to emphasize is betting under the influence of drugs or alcohol. Needless to say, you shouldn’t do either one of them. Both will cloud your judgement which will end up in you making all the wrong decisions.
If you’re feeling tipsy, just stop betting. That’s all there is to it.
<h3 class="p4">Not Knowing When to Stop</h3>
This one is tied directly to chasing losses. Not knowing when to stop is basically the same thing. But, you don’t necessarily have to be on a losing spree to stop playing.
You can be on a winning spree that will, if you don’t know when to stop, quickly turn into chasing losses.
That’s why it’s important to constantly check your bankroll and ensure you’re always within your risk limit.
<h3 class="p4">Not Doing Enough Research</h3>
Don’t be lazy when conducting pre-bet research. If you don’t feel like spending an hour or two to research your potential betting lines, don’t bet at all.
It’s as simple as that. Sports betting is not a spring – it’s a marathon. We often use that analogy, but it’s for a good reason.
Many newcomers think sports betting can bring them riches overnight. In reality, that’s far from the truth. The problem is, that newcomers tend to splurge through their bankroll doing little to no research.
They’re end up basing their bets around surface-level knowledge and the good old gut feeling. Come on, you’re better than that!
<h3 class="p4">Focusing on Match-Winners</h3>
Match-winners are the basic bets in sports/esports betting. All you need to do is guess who’s going to win the match. That’s it!
We often see too many players focus so hard on match-winners that they basically forget other bet types exist.
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There’s no need to narrow your gambling horizon solely to match-winners.
Oftentimes, you’ll find much more valuable specials and/or totals. All you have to do is keep tabs on other bet sections when searching for value.
<h3 class="p4">Focusing on the Short Term</h3>
Here’s one of the most common gambling mistakes even experts tend to do – focusing on the short term. Yes, match-winners and other match-based bets are going to be the main tools in your arsenal.
However, don’t be afraid to invest in long-term bets. Futures like outright winner, tournament MVP, team to reach the finals; these are all outstanding bets that can yield surprisingly hefty profits.
<h2 class="p2">3 Important Gambling Strategy Tips</h2>
Being aware of common gambling mistakes and doing your best to prevent them will surely improve your overall profitability.
However, if you want to maximize your profit potential, we warmly advise you pay attention to the following:
<h3 class="p4">Don’t Forget About Parlays</h3>
Single bets often possess the most value. On their own, though, unless we’re talking about risky underdog bets, you won’t get massive returns on smaller wagers.
That’s where parlays come into play!
Parlays are basically bets that consist of several different bets. The trick is – all bets within a parlay have to win for the parlay to win. It doesn’t matter if you miss a single bet on your parlay, the whole parlay is gone.
<img class="size-full wp-image-2491 aligncenter" src="https://winz-blog.s3.eu-central-1.amazonaws.com/sports_betting_goal_56e56a42f6.jpg" alt="Sports Betting Decorative Image " width="750" height="438" srcset="https://winz-blog.s3.eu-central-1.amazonaws.com/sports_betting_goal_56e56a42f6.jpg 750w, https://winz-blog.s3.eu-central-1.amazonaws.com/sports_betting_goal_300x175_275e45f839.jpg 300w" sizes="(max-width: 750px) 100vw, 750px" />
For more information on the subject, check out our guide on <a href="https://winz.io/blog/comprehensive-guide-to-parlay-bets-in-online-sports-betting/">sports betting parlays</a>. It doesn’t just provide you with boring informational sections, but real-life examples too. If parlays seem interesting, make sure you check that page out!
<h3 class="p4">Keep Tabs on RTP Values</h3>
Not everyone here is focused on sports betting. That’s why, the second gambling strategy tip is meant exclusively for casino dwellers.
RTP value – we’re sure you’ve heard of it. It stands for Return to Player and comes in the form of a percentage.
The higher the percentage is; the more profit potential the game has. More precisely, the <a href="https://winz.io/blog/return-to-player-explained/">RTP percentage</a> represents the game’s average return rate for each $100 staked.
So, for example, if an online slot has 95.8% RTP, it means that it pays $95.8 on every $100 wagered. Keep in mind that we’re talking about averages here.
<h3 class="p4">Never Underestimate the Importance of Value</h3>
No matter the betting strategy you’ve deployed, you should always be on the lookout for value bets. By value bets, we’re referring to bets whose outcome(s) are much likelier than what the odds suggest.
However, finding value is online betting is a complex topic. It cannot be explained in a single section.
If you want to know more, we advise you to check out our sports betting value guide. That’s where you can find all the relevant information on the subject.
<h2 class="p2">Conclusion</h2>
Once again, we would like to repeat what we’ve already said in the introduction.
Gambling mistakes aren’t necessarily a bad thing… but only if you learn from them and take the necessary steps to prevent them from happening again in the future.
You shouldn’t dwell too much on your losses. However, learning something from them is essential. Don’t take it for granted!

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