Top 5 soccer betting mistakes and how to avoid them

Betarena is building a community of like-minded individuals who want to be part of a new era of sports content — and through this, we’re leading the way in all things sports and staying up to date. With the current Euro 2024 competition ongoing, we’re going to be taking a look at all the mistakes you can make when it comes to placing a bet — and the reason behind these.

Soccer gives you an amazing way to mix thrill and strategy with an exciting, fun-fuelled game, which is why millions across the world flock to pitchside. Now, we all love to dabble in some soccer betting, but when your favorite player doesn't pull it out of the bag for you — well, we’re all left disgruntled. At Betarena, we’re here to help with your betting approach and set you up for some soccer success. Here are 5 different mistakes to avoid, so you can not just see your favorite team win — but yourself, too.

1. Betting without research

Research is key! One of the biggest mistakes you can make in betting overall is not looking into the history of the teams you're betting on. By placing a bet on a hunch, or your favorite team/player, you are pushing yourself toward unnecessary losses — which is not the aim of the game.

Here’s how research can help:

• Understanding the team's form: If you have been watching how a team has been performing recently, you can gain insights into their current state, and therefore the likelihood of winning.
• Statistics: Just like with everything in life, you need to follow the data. Evaluating player statistics can help you see the top scorers, and give you the upper hand for your next bet.
• Injuries: There’s no point betting on a player to be the top scorer if they’ve been out of the games all season. Being aware of the injured players helps you predict how the team's performance will go.
• History: You have to understand what the team plays like before you place any bets. If you’re going to bet in Canada, for example, you should get yourself clued up on all the latest Euro teams, and find out who’s on the path to success. From this, you can see how they performed in the previous seasons, and which players to look out for.

What sort of research you can do:

• Use reliable sources: Don’t take advice from anywhere that isn’t reputable. Betarena provides the most up-to-date sports content through our app, which can help you make informed decisions. Besides that, betting sites are always giving new information, and live statistics as the games progress.
• Stay updated: Keep up with the latest news, including last-minute changes, line-ups, and weather conditions — which are all factors that influence the outcome of a match.

2. Overvaluing your favorite team

We all have a favorite team, but that doesn’t mean you place a bet on them. It may be tempting to place all your hopes on your fan-favorite player, but this can lead to suboptimal betting decisions — therefore a loss in profits. This doesn’t mean you shouldn’t go with a preferred team who are renowned for doing well, but you need to make a decision based on their skill, not just likeability. For example, countries like Spain, Germany, and Portugal are doing fantastic in the Euros, so you’re more likely to win based on their reputation and perceived strength.

Here is why you shouldn’t bet on your favorite teams every time:

• Public influences: Heavy media coverage and fan enthusiasm can create a bias toward these teams, leading to inflated odds and skewed betting markets.
• Emotional attachment: Your emotional connection to certain teams can cloud your judgment, making you more likely to bet on your favorite team regardless of the actual odds.

Remember, don’t cloud your judgment, and always be ready for the underdogs to come out on top — betting is all about calculating the odds right and getting your payout.

3. Chasing a loss

We’ve seen one of the biggest mistakes in sports betting is when a fan is chasing their losses. You may have gone fully in on your favorite team to win, or most-liked player to score first — but have now fallen short because that didn’t happen. When you’re in this mindset, you can often chase your losses, meaning that you aren’t doing it for the right reason — or with a clear mind.

4. Betting on too many matches

In our eyes, it’s quality over quantity, any day. Don’t get too sucked into the process of betting on every match and hoping for a payout. We recommend focusing on one to two games so that you can effectively evaluate the play, and see what’s happening through it all.

5. Bankroll

Like with any form of sports betting, you need to go into the process with an exact bankroll of what you plan to be playing with. This is crucial to managing your budget and keeping your emotions under control — because you’ll be sticking to a clear plan.

Overall, it’s clear that sports betting brings plenty of action-packed fun, but you need to put in the time. Do your research, be smart, and always keep your eye on the ball.