The NFL is a billion-dollar industry and while it might not seem as significant on the surface as other factors the sports betting angle of the sport certainly helps drive it. Millions of people bet on the NFL every single season and that helps drive the sport’s popularity. While the majority of sports betting fans are looking to add to the entertainment value of watching the games there is no doubt that everybody who wants to bet on the NFL is looking to make a profit. Here is a look at the five worst mistakes that NFL bettors make.
The most important tip to remember when betting on the NFL is that you will not make a significant profit if you are only betting on the favorites. The reality is that the sportsbooks are doing whatever they can to adjust the lines and make sure that the divide between betting on the favorites and the underdogs is as close to 50-percent as possible. Since the majority of the public bettors will put their money on the favorites and the sportsbooks understand that, they can routinely give the underdogs that much better lines with an understanding that the bulk of the public money could still be on the wrong side ignoring the lines. There is nothing wrong with mixing in favorites once in a while but just make sure that you are banking on them alone to build your bankroll.
Following The Public
We already discussed the general mistakes the public makes in the previous paragraph so it’s no surprise we double down on the importance of not following their lead. The numbers show that the bets with the most public backing usually tend to go the wrong way. It’s usually a good idea to ignore the talk on television, radio and online when evaluating your picks since the public tends to be on the wrong side more often than you might think.
Poor Money Management
Another important tip that the majority of public bettors aren’t really paying close enough attention to is smart money management, which is the key to building up your bankroll. The smart handicappers that do this for a living will tell you that the most important aspect of making money by betting on sports is to manage your money appropriately.
Not Following The House
If the sportsbooks have handed out 100-1 odds for something to happen then there is a very good chance that it likely won’t occur. Another big mistake that football betting fans make is that they aren’t paying attention to the house when they should. It’s important to keep an eye on the lines for games and how the house will adjust the numbers based on what they feel the outcome of the game will be. Make sure you pay close attention to those lines and don’t end up betting blind without consideration for the indicators the house can provide.
Beware Of Monday Night
One of the biggest mistakes that sports bettors make is doubling down with a big bet on Monday Night Football after losing on the weekend. That could become a major problem since you have already lost on Sunday and now you are doubling down on Monday with the chance to lose even more money. Even the bettor that wins on Sunday might be tempted to risk even more money on Monday night chasing one more chance to add to their profits but it’s much smarter to quit while you’re ahead then risking your hard-earned profits chasing even more money.