Esports betting is one of the hottest trends today. To be sure you're on the right track, check out these common esports betting mistakes you should avoid.
#1 Choosing the wrong esports betting platforms
Not all esports betting sites are made equal, and you’ll eventually find out that there are those that simply don’t work for you. Sometimes, it all boils down to own preference, that’s why some bettors may prefer an esports betting platform that you don’t. But mostly, this is caused by several factors, including low odds, bad customer support, lack of payment methods, unreliable withdrawal process, and many more.
We know how difficult it is to find the right esports bookies, that’s why we’ve listed in our Top Esports Betting Platforms You Should Choose article the esports bookies you should check out. Whether you’re betting fiat money or cryptocurrency, you’ll find one that’s right for you.
#2 Not doing your homework
School’s not cool. We get it. But in esports betting, you’ve still got some homework to do. In our Get Started with Bitcoin Esports betting in 5 Easy Steps article, we said that every esports bettor must master how the games work and know the teams and tournaments first before placing any bets. These are your homework.
It’s important that you know how esports games are played. Otherwise, you won’t have the right knowledge to make sound decisions and analyses. Likewise, learning how the tournaments work, the bracket system, the best of system, and more is just as important. And most of all, you should know the players, the teams, even more so any changes in the roster.
Keep in mind that esports organizations have several pro esports players and only field in their best players for certain games and tournaments. A slight change in a roster can make or break your chances of scoring a winning bet, so always keep track of such developments in the esports arena.
Simply put: if you fail to do your homework, expect unfavorable results.
#3 Being a fanboy
There’s nothing wrong with being an esports fanboy, but the same cannot be said about fanboying while betting on esports.
Fanboyism, which is when you always bet on your favorite teams, isn’t unique to esports betting because this phenomenon is also apparent in sports betting. Letting fanboysim affect your betting decisions can eventually take a toll on your esports betting journey, and this is exactly why you should steer away from it.
In esports betting, you should consider all esports teams, as well as the possibility of other teams winning the match. You need to look at the odds, the players, the roster changes, and other factors when making bets. And if you always have your eyes locked at your favorite teams, then you most likely get blindsided.
#4 Thinking you’ll always win
Say you’ve done your homework masterfully and considered as many factors as possible. The truth? You’re still not guaranteed a winning bet.
This is the harsh reality that every single bettor must fully accept. After all, this is gambling. You may have checked all the boxes on your must-do list before placing a bet, but the result of a match depends on the players themselves. All you have to do is to wait and hope that you’ve made the right bet.
Thinking you’ll always win is very dangerous. Our suggestion? If you still can’t accept this fact, then you’re not yet ready to bet on esports or even play casino games and engage in sports betting. Losing is part of gambling, and you will lose bets a lot, so you must be mentally, emotionally, and financially prepared for this.
#5 Focusing only on match winner bets
Of course, there are ways that you can do to avoid losing bets. And there are also ways that will help increase your chances of scoring wins. One of them is to look beyond match winner bets and consider special bets.
Oftentimes, we just focus on which team will win the match. While there’s nothing wrong with placing bets on this category, it gets bad if you’re betting only on this category. There are special bets that esports betting platforms offer. Make the most of them, and you might be surprised to get more favorable outcomes with these special bets.
#6 Placing bets out of frustration
When you’re playing Dota 2, for example, there are times when you would feel angry or frustrated with how your opponents counter your attacks or outsmart your team’s strategy. Oftentimes during this situation, you end up losing, and frustration could be a huge factor. The same goes in esports betting.
Perhaps almost everyone in the iGaming industry has likely experienced this. Worse, many could still be doing this mistake. Why? Because most times you wouldn’t even notice it. When your bets keep losing, there is that natural urge to bounce back and get a win. But at times like this, you often make harsh decisions like going all in or going overboard with your betting budget.
Then when you keep losing bets, you just find yourself in a completely bad mood and vent your anger on other things or people. This is why you should never, ever bet when you’re angry or frustrated.
#7 Not putting the breaks on
Got yourself on a losing streak? Then it’s time to take a break from esports betting. Pausing between betting sessions is healthy, more so when you find yourself in a slump.
Taking breaks will help you practice responsible gambling and combat gambling addiction. Even better, it’s also good for your wallet. Think of it this way, if you continue to placing bets while on a losing streak, you’re just spending all the money you have in your account. Worse, you’d feel obligated to add more funds so you could break even. This kind of behavior and thinking is very dangerous as it may lead to problem gambling.
#8 Mismanaging your betting budget
Mismanaging funds is common among bettors, be they new or old. Although this normally happens out of frustration, it’s also the result of poor decisions made before betting.
This is the reason why bettors are always advised to always set a limit and to strictly stick to it. Doing these two basic things will help you avoid going way over your betting budget. At the same time, learning some money management systems will help you properly handle your funds while still enjoying esports betting responsibly. Using Bitcoin or other cryptos to bet on esports? Read our Easy Do’s and Don’ts When Managing Cryptos article.
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