The best way to avoid making mistakes such as chasing losses or getting greedy is to have a proper staking plan in place. This is a subject we explain in detail in our article on money management in sports betting.
The Dos and Don’ts of Online Football Betting
We recommend using online betting sites for all your football betting needs. Doing so offers so many advantages over traditional forms of betting that there’s simply no question that it’s the best option.
It’s convenient and easy, there’s generally a better range of betting options, and the best odds and lines are usually available online too. It’s also possible to benefit from the bonuses and rewards that most sites offer their customers.
However, we do suggest being very cautious when betting online. There are some risks involved, and it’s wise to avoid those risks as best you can. This means putting some thought into which sites you use, and being very careful about how much you spend.
The convenience of online betting is definitely a good thing overall, but it can make it easier to get into difficulty through betting too much or too often.
On this page we’ve provided some important dos and don’ts of online football betting that we’d really like you to follow. Here’s a quick summary, and further details on each point can be found below.
- Use reputable sites
- Set a budget
- Sign up with multiple sites
- Take full advantage of bonuses & rewards
- Try live betting
- Chase your losses
- Get greedy
- Bet for the sake of it
- Log in after drinking
- Bet on your favorite team
The Dos of Online Football Betting
Use reputable sites
There are a myriad of gambling sites on the internet, and most of them are perfectly trustworthy. Unfortunately, there are also a few that operate on the shady side of things.
It’s vital that you avoid such sites, as the last thing you want is to be scammed out of any money you deposit or winnings that you may make. Although statistically it’s unlikely that this will happen to you, the chances of this occurring greatly increases when you use one of the less reputable sites.
That’s why we strongly recommend that you only ever use sites that have proved themselves to be reputable. This is undoubtedly one of the most important pieces of advice we offer on this page. It’s also one of the easiest to follow, as we’ve ranked and listed the best sites to use.
BEST ALL-IN-ONE FOOTBALL SITESAs recommended by GamblingSites.com
Set a budget
The majority of people who bet on football do so responsibly. They might lose money, but losing money in itself is not a problem if it’s affordable. Betting on football, like any form of gambling, is as much about entertainment as it about winning money, and it’s entirely reasonable to spend money on something you enjoy doing.
Betting can be addictive, and it’s all too easy to get carried away when betting on the internet. It only takes a couple of clicks of the mouse to add more money to your online account. When you’re not physically handing cash over to a bookmaker, it can somehow seem like you’re not spending real money.
You are though, and it’s important to remember that. Otherwise, you could find yourself overspending and getting into financial difficulty.
We’re not trying to scare you here; we just want to make sure you understand the importance of gambling responsibly. That means setting a budget for how much you’re prepared to spend in any given day, week or month, and then sticking to that budget.
Sign up with multiple sites
A lot of people who bet online find a site they like and stick to it. Although there’s a great deal of merit in staying where you’re comfortable, there’s no need to limit your options in this way.
There are two distinct advantages in using multiple sites, and both can make a big difference to how much money you win or lose overall.
The first advantage we would like to point out are bonuses and rewards. We explain how using multiple sites can help optimize your value shortly, but right now we’re going to cover the second advantage.
You might not be aware, but the odds and lines that betting sites offer on football games can vary quite significantly from one to the next. For example, here are some lines available at six different sites for an upcoming match.
In the image above, the only figure that’s the same is the total. Even then, the odds for the over and under are different at different sites. If you wanted to take the over, why would you possibly want to bet at odds of -110 when -103 is available?
If you want to be on the Texans to cover the spread, why would you take them at +3 when they are available at +3.5? These are only small differences, but over the course of a season they will add up.
One of the easiest ways to improve your overall results is simply to compare the odds and lines available at different betting sites and then place wagers where the best value is. This surprisingly isn’t time-consuming, but it does require having accounts at a range of different sites.
Take full advantage of bonuses & rewards
We just mentioned how having accounts at multiple sites can help in terms of getting the best value out of bonuses and rewards. The vast majority of sites offer all new customers a sign-up bonus of some description, and these sign up bonuses usually provide some genuine added value.
It’s possible to take full advantage of this value just by opening accounts at more than one site and claiming the relevant sign-up bonuses. This is something you should definitely do.
With a little more effort, it’s conceivable that you can get even more added value on an ongoing basis by utilizing all of your accounts at different times and claiming any reload bonuses and other rewards that might be available for existing customers.
There isn’t a fixed method for doing this effectively, but it’s worth spending some time trying to determine how to get the maximum value.
In order to do this, it helps to understand exactly how the bonuses and loyalty schemes at sports betting sites work. All the details you need are on the following two pages.
Try live betting
Live betting is one of the biggest advantages that online betting has to offer. It creates a wide range of additional betting opportunities, and the smart bettor has a chance to make a significant profit.
If you’re not familiar with the term, it’s basically a form of betting that allows you to place wagers on sports events AFTER they’ve started. So you can sit down and watch the start of a football game, for example, before deciding where to put your money. This gives you some additional information to work with, which can, in turn, make it easier to make good decisions.
The Don’ts of Online Football Betting Football
Chase your losses
One of the most common mistakes made by gamblers is chasing losses after a bad run by increasing their stakes. It happens regularly in casinos, but it’s a trap that a lot of sports bettors also fall into. As understandable as the desire to try to recover previous losses is, it’s a practice that you should never engage in.
There’s not a single gambler in the world that wins every single wager they place; even the most successful ones lose at one time or another.
What sets those successful ones apart from most others is how they react to their losses. They accept them as part of what they do, stay disciplined, and keep on applying the methods and techniques that they know will make them money in the long run.
That’s the model you want to follow. No matter how skilled you are, and how much you know about the sport, it’s a simple fact that you’re going to lose sometimes. There may even be occasions when you consecutively lose a lot of wagers.
You shouldn’t panic when this happens. Take some time to review those wagers, and try to understand where you may have gone wrong. It may be that you’re making good decisions and just having some bad luck. Or it may be that there’s something inherently flawed with the strategies you’re using.
Either way, the solution isn’t to start increasing stakes in a desperate attempt to get back what’s just been lost. The moment a wager loses, that money is gone. Don’t think about future wagers in terms of trying to recover that money, and don’t be in a hurry to win it back.
Be patient and keep stakes at an affordable level. Bettors who are good at what they do will be able to recover those losses over time anyway.
The same principle just outlined above applies to bettors that have been blessed with a good run of cards. When you’re experiencing win after win after win, it’s natural to feel like you’re going to keep on winning for the foreseeable future.
Unfortunately, most winning runs come to an end sooner rather than later. There’s no reason why you can’t win money consistently over the long run, but really hot streaks are a rarity and they’re not going to last forever.
Therefore, it’s important to resist the temptation of increasing your stakes every time you’re on a very good run. Keep them at a sensible level, because if the results start going against you then your winnings won’t disappear as quickly.
Bet for the sake of it
It’s hard to consistently make accurate predictions about the outcome of football games. It’s conceivable, and plenty of people do it, but it takes a lot of time and effort to consider all the possible factors that might affect what’s going to happen.
Considering all these factors, and assessing their potential impact, is one of the things that successful football bettors do very well. They also know when to bet, and when not to. In other words, they’re selective about when they put their money at risk. Even those who are simply betting for fun need to be selective about where their money goes.
There’s absolutely no need to bet on every single game each week. This will only increase the chances of losing money, as there’s always going to be some games that are simply too difficult to call.
You’ll get much better results in the long run if you only bet when there’s a good reason to. For example, you might think that a team is being underestimated on the point spread for an upcoming game. They’ve been playing badly, but you think it’s just a bad run of form and they’re about to show what they’re really made of it. That’s a great reason to place a bet.
You might decide to back the over on the total in the same game too, simply because there’s then another chance to make some money. That’s a BAD reason to bet. There’s no real reason for the wager; it’s simply betting for the sake of it.
It would be wise to avoid betting in this way, as it’s bound to cost more money in the long run.
Log in after drinking
When you’ve had a bit to drink, please stay far away from your online betting accounts. Placing wagers while under the influence very rarely works out well, as your judgment is impaired and reckless decisions become all too likely.
Reckless decisions almost always result in losing money.
The fact that online betting sites are so accessible and convenient is mostly a good thing, but this is one example of why it has downsides too. It’s simply all too easy to log in when not thinking straight, and potentially blow through an entire bankroll. Sadly, we’ve heard of many cases where people have done exactly that.
Sometimes, they don’t even remember they’ve done it until the next time they log in and see their empty balance. Please don’t make that kind of mistake, as it’s an incredible waste of money.
Bet on your favorite team
Successful betting means making rational decisions instead of emotional ones. Bettors are rarely able to make rational decisions when betting on games involving a favored team, as they’ll simply be unable to be objective enough.
There are always plenty of other games going on, so try to avoid those where you have a personal interest. If you feel like you absolutely have to bet on them, at least stake less than the normal amount.
Most of the dos and don’ts above are nothing more than common sense. Many of them apply to betting on any sport, and to any form of gambling for that matter.
They may all seem fairly obvious to you, but that doesn’t make them any less important.
We’re not trying to insult your intelligence by telling you things that you may know already. Our primary aim here is to help you have the best possible experience when betting online, along with the best possible chance of winning some money.
As straightforward as this advice is, following it WILL benefit you.