After winning a few games in online sports betting players begin to think they are invincible. That is a quick way to lose money in sports betting.
Online sports betting can only be successful if you remain in control. One of the fastest ways for a sports betting gambler to turn a great day or weekend into a bad one is to deviate from his overall goals and his long-term plan. Just because things are not going as planned when betting at a sportsbook on a particular day does not mean a radical change is in order. Sometimes online sports betting will go well, other times it will not but radically changing things is a sure way to make the losses pile up.
Online sports betting gives you many chances to do different things and that is a good news/bad news scenario. You have a lot of options which is good, but you can easily lose control if you are not careful. A big problem that many sports betting gamblers fall into is increasing the percentages of their online sports betting wagers. This can happen after wins or losses, but it is more common after losses. For example, if an online sports betting gambler has a wager amount of two percent to five percent for each of his individual picks and starts winning or losing a bunch of games, he might fall into the trap of doubling or tripling his percentages to range from 4-10 percent to 15 or even 25 percent of his online sports betting bankroll. Now all of a sudden, if he loses just a few games he is in serious trouble. Amazingly enough, this type of increase in online sports betting occurs after wins or losses. You would think it would happen more often after losses but that is not always the case. It is even worse when things are going badly and players change their percentages in online sports betting. A small losing streak can turn into a season ending losing streak in short order when percentages get out of control.
If you think it is just increasing the amount of your bets that leads to losses you would be incorrect. In addition to betting more money, sports betting gamblers may start playing parlays, teasers, and props with their money. What the online sports betting gambler is really doing is giving away any edge that he had. A winning online sports betting gambler avoids losses by staying within his bankroll means, staying disciplined and not overreacting to either wins or losses.