Many people see betting as a bad habit. Often, though, that view comes from punters who bet without a plan. Done sensibly, betting on sport can be fun and, for a few, even profitable. So why do most punters lose? Usually, it comes down to the same handful of mistakes. This guide explains the biggest ones and, more importantly, how to fix them.
- Chasing losses with bigger, rushed bets
- Not doing enough research
- Betting without a separate betting bank
- Staking random amounts with no plan
- Not understanding value
- Betting with your heart instead of your head
- Loving accumulators too much
- Not keeping records
- Betting when tired, drunk or upset
- Ignoring the small print on bonuses
1. Chasing Losses
Chasing losses has been tried by almost every gambler. Sadly, it almost never works. Put simply, it is a shortcut to an empty account.
It can feel logical. You lost R200, so you bet R400 to win it back. However, nobody has an unlimited bankroll. Sooner or later, a losing run will catch you out, and the bets will be bigger by then.
On top of that, chasing changes how you think. When you want your money back fast, careful thinking goes out the window. As a result, you place bets you would never normally make, at stakes you would never normally use.
How to fix it
Most punters have felt the urge to win it back straight away. The trick is to remember that there is always another match tomorrow. Set a daily or weekly loss limit before you start. If you hit it, stop for the day. Then wait for the right opportunity rather than forcing a bet.
2. Not Doing Enough Research
Let’s be honest: many punters are lazy. They put little or no thought into a bet. Then they wonder why the results are poor.
The strange thing is that punters have never had more information. There are form guides, team news, detailed stats and video replays, all available for free. Yet most of it goes unused. For example, glancing at a form guide for five minutes is not enough to beat a bookmaker who has studied the match for days.
How to fix it
Treat betting like a skill that needs work. Before each bet, check team news, recent form, home and away records and head-to-head results. Video replays are especially useful for horse racing fans. If you are serious about winning, you need to invest time as well as money.
3. Betting Without a Separate Betting Bank
A big mistake many gamblers make is not setting aside a fixed sum just for betting. This is called a betting bank, or bankroll.
Your betting bank should be kept apart from all your other money. That way, bills, groceries and savings are never at risk. It also helps you feel less emotional about each bet, because the money already has a set purpose.
The size of your bank is up to you. The only rule is that it must be an amount you can afford to lose. Without a bank, punters tend to bet with whatever money is lying around. As a result, they often lose more than they meant to and lose track of how they are doing.
How to fix it
Decide on a set amount, for example R2,000, and move it into a separate account or e-wallet. Only bet from that pot. If it runs out, take a break rather than topping it up straight away.
18+ only. All sites are licensed in South Africa. T&Cs apply.
4. Staking Random Amounts
Having a betting bank is a good start. However, it does not help much if you then bet random amounts. A staking plan tells you how much to bet each time.
A sensible plan keeps each bet to a small slice of your bank. Many experienced punters use 1% to 3%, and 5% is usually seen as the most you should ever risk. That way, one bad result does not do serious damage.
For example, if your bank is R5,000, a 2% stake is R100. On the other hand, putting R2,500 on one match would be reckless. A couple of losses at that level and your whole bank would be gone.
| Betting bank | Sensible stake (2%) | Risky stake (50%) |
|---|---|---|
| R1,000 | R20 | R500 |
| R5,000 | R100 | R2,500 |
| R10,000 | R200 | R5,000 |
For more on staking plans, see our guide to sports betting strategy.
5. Not Understanding Value
Understanding value is probably the most important skill in betting. An old saying among winning punters puts it well: to make a profit over time, you need to bet at odds that are bigger than the real chance of winning.
A common mistake is to think value means big odds. It does not. Every bet is different and has to be judged on its own. For instance, a bet at 26.00 (25/1) can be terrible value. Meanwhile, a favourite at 2.50 (6/4) can be excellent value.
Here is a simple example. After some research, you decide a horse should be about 4.00 (3/1). However, the bookmaker is offering 6.00 (5/1). In theory, that is a value bet, because the odds are bigger than you think they should be.
Always shop around
Even when you find value, look for a bit more. Check the same bet with other bookmakers before you place it. Small improvements in odds make a big difference over hundreds of bets. That is why it pays to have accounts with a few licensed South African sportsbooks. Watching how prices move also helps, as our line tracking guide explains.
6. Betting With Your Heart
Most of us support a team. Unfortunately, that loyalty can cloud our judgement. Fans often back their own team at poor odds, simply because they want them to win.
Bookmakers know this. As a result, prices on popular teams are often slightly worse than they should be, because so many fans back them anyway.
How to fix it
Ask yourself one question before every bet: would I take these odds if it were a team I didn’t care about? If the answer is no, skip it. Some punters avoid betting on their own team altogether, and that is a sensible choice.
7. Loving Accumulators Too Much
Accumulators are hugely popular. The idea of turning R20 into R5,000 is exciting. However, every leg you add also adds the bookmaker’s margin. So the more legs you add, the worse the deal usually gets.
This does not mean you should never place one. Just keep accumulators as small fun bets, not the centre of your betting. Single bets give you far more control and a better long-term chance.
8. Not Keeping Records
Most punters remember their big wins and quietly forget their losses. As a result, they think they are doing better than they are.
The fix is simple. Keep a record of every bet: the date, sport, market, odds, stake and result. A notebook or spreadsheet is fine. After a month or two, you will see where you make money and where you lose it. Then you can drop the bets that keep costing you.
9. Betting When Tired, Drunk or Upset
Your mood has a big effect on your betting. A few drinks at a braai, a long day at work or a bad argument can all lead to poor choices. In those moments, it is easy to bet bigger or back something you would normally avoid.
A good rule is simple: only bet when you are calm and clear-headed. If you notice you are betting to cheer yourself up or to pass the time, take a break. The matches will still be there tomorrow.
10. Ignoring the Small Print on Bonuses
Welcome offers and free bets can be great value. However, many punters claim them without reading the terms. Later, they find out the bonus has rules they did not expect.
For example, some offers need you to bet the bonus several times before you can withdraw. Others only count bets at certain minimum odds, or expire after a few days. A free bet might also return only your winnings, not the stake.
Before you claim any offer, check the main terms. Look at the wagering rules, the minimum odds, the time limit and any limits on withdrawals. That way, the bonus works for you instead of against you.
Quick Summary: Mistakes and Fixes
| Mistake | Simple fix |
|---|---|
| Chasing losses | Set a loss limit and stop when you reach it |
| Lazy research | Check team news, form and stats before every bet |
| No betting bank | Set aside a fixed amount you can afford to lose |
| Random stakes | Stake 1% to 3% of your bank per bet |
| Ignoring value | Only bet when the odds beat the real chance |
| Betting with your heart | Judge your own team like any other |
| Too many accumulators | Keep them small and focus on singles |
| No records | Track every bet in a notebook or spreadsheet |
| Betting in a bad mood | Only bet when calm and clear-headed |
| Skipping bonus terms | Read the wagering rules before claiming |
Sports Betting Mistakes FAQ
What is the most common betting mistake?
Chasing losses is probably the most common and the most costly. It leads to bigger stakes and rushed decisions at the worst possible time.
How much should I put in my betting bank?
Only an amount you can afford to lose completely. The exact figure depends on your own budget. What matters most is keeping it separate from your everyday money.
Are big odds always good value?
No. Value means the odds are bigger than the real chance of the result. A long shot can be poor value, while a short-priced favourite can be good value.
Should I bet on my own team?
You can, but be honest with yourself. Fans often accept worse odds on their own team. If you would not take the price on a neutral team, don’t take it on yours.
A clean, easy site with a good spread of local sports. Join Easybet today and claim the current welcome offer for new players.*
Visit Easybet →*New customers only. 18+. T&Cs apply.
