Cricket betting is undoubtedly a very thrilling and rewarding pastime. However, just like any gamble, it’s a game of chance, where amateurs are prone to losing their bets. So, while learning from our mistakes is good, this doesn’t ensure long-term achievement.
In this post, we rounded up six rookie mistakes you should avoid in cricket betting. Whether you’re a beginner or not, the following can help you minimise the blows of your losses and develop a solid approach for your next bet.
Ignoring the Basics
Before indulging in betting, it’s wise to be familiar with the nitty-gritty of cricket and the ins and outs of betting on it first. You need to at least know how cricket is played, the players’ info, and the latest cricket odds. Otherwise, you’re likely to experience massive losses and inconsistent results.
Of course, you don’t have to get a strong understanding of cricket and its betting mechanics if you’re flippant about it. You can bet however you want. But if you don’t have a big bankroll and the basic knowledge, avoid placing big bets.
Having No Plan or Strategy
If you’re taking cricket betting seriously, avoid diving in and randomly placing bets based on your hunches. Always take a pause and consider whether what you’ll bet makes any strategic sense. Planning is deemed necessary so you can become a successful cricket bettor.
In developing a solid strategy, know how much you’re willing to lose, whether your wager matches your conviction of the outcome, and whether your wager is within your budget. Taking the time to consider these factors before diving in can maximize your gains and minimize your losses over time.
While it could take considerable effort and money in the process, establishing a solid betting strategy pays off. Avid bettors tend to take the extra mile to organise data crunching in huge spreadsheets, but a simpler method, as long as there’s some kind of strategic approach, will suffice for the majority.
Not Learning About the Teams
When it comes to making cricket predictions, many people make the mistake of betting on teams that they do not have strong knowledge about. Here are some tips for avoiding this mistake:
- Do your research. Make sure you know as much as possible about both teams including their performance history, any suspensions or fines and the coaching team
- Check the roster to make sure no key players are injured
- Check the performance of teams away vs at home
Being Biased towards your favorite team
People are naturally biased to think their favorite team is better because they want to feel good about themselves and their choices. You may also be biased because you’re more familiar with your own team’s players and strategies, so you’ll naturally want to stick with what you know.
Remember, your team isn’t always the best option.
Not understanding the impact of a home field advantage
There is no doubt that cricket is a complicated sport. Even the most basic aspects of the game can be difficult to understand for newcomers. One such concept is the home field advantage in cricket.
In cricket, the home field advantage refers to the fact that teams playing at their own grounds tend to have a better record than when they play away from home. This phenomenon has been observed for many years, and there are several possible explanations for it.
One theory is that teams feel more comfortable playing in their own surroundings, and this gives them an edge over their opponents. Additionally, the home fans can be a big help to their team, cheering them on and creating a hostile environment for the opposing squad.
Another factor that may contribute to the home field advantage is the condition of the pitch. The pitch is the area of the ground where the cricket match is played, and it can be quite different depending on whether you are playing at home or away. The home team has a chance to prepare the pitch in advance, while the away team must play on whatever surface is available. This can be a major disadvantage for the away side, as they are not used to playing on that type of pitch and may not be able to adjust.
Finally, the home team is generally more familiar with the conditions at their own ground than the away team. This can be important in cricket, as the weather and the pitch can have a big impact on the game. If the home team knows how to play in those conditions, they will have a big advantage over their opponents.
The home field advantage in cricket is a real phenomenon, and it can be a major factor in deciding who wins and loses a match. If you are playing cricket, it is important to keep this in mind, as it could be the difference between winning and losing.
Changing Unit Size
If you’re unsure what a betting unit size is, it’s the measurement that defines the size of your bet, basically the percentage of your bankroll. It also determines what kind of investor you are. Larger units are usually the domain of risk-takers, while lesser units are for conservative bettors.
Never change your unit size based on a team’s recent performance at any cost. If you’re on a winning streak, don’t double down and risk more. If you’re cold, don’t ever try to win everything back in one giant swoop because you usually can’t.
The rule of thumb in betting is to only risk what you can afford to lose. Hence, the best approach is flat-betting. In simple terms, it’s betting the same wager on every game always. This way, you’ll only risk 1-5% of your bankroll per game.
For example, if your bankroll is $100, you shouldn’t risk more than $5 per game with flat-betting. So, it secures your finances against losing your entire bankroll during a bad stretch and sets up a positive return on investment (ROI) when things are in your favor.
Takeaway
In cricket, as in any sports betting, you’ll win some days and lose some days. It’s crucial to stay within your limits and to remember that very few can reach the lofty heights of undertaking betting as your profession.