While esports betting is not new, 2020 saw the industry reach new heights, setting records and opening up new markets. The COVID pandemic also only helped accelerate the growth of betting in competitive gaming. But as you take your first steps into the different types of esports betting, what are the top five mistakes people make?
Top 5 Esports Betting Mistakes
The high rewards and payouts can often tempt new users into making mistakes that would elude seasoned bettors. This article will guide you into NOT making these mistakes and betting responsibly.
Rule No. 1: Do Not All In
Any bettor will tell you it’s never good to All In. Betting is about finding the right balance between research, risk and capacity. It is not uncommon (although definitely not right) for bettors to all-in after a few losses. Change your betting strategy based on your available cash. Going all-in is an all-risk scenario, one with a high chance of losing it all.
Rule No. 2: No Transitive Property
One of the top five esports betting mistakes people make is relying on transitive properties. What is the transitive property? If a=b and b = c, then it means a=c.
Well, it isn’t true in esports betting. Teams interact with each other in different ways. If Astralis defeats Team Liquid and Team Liquid defeats Gambit it does not mean Gambit will lose to Astralis. Esports teams often adopt different strategies, playstyles and even map picks depending on their opponent. The map draft often dictates the course of the game and every team has a different map pool. Using transitive property in sports betting is a fool’s errand and can lead to massive losses.
Rule No. 3: Spreading yourself thin
Diversification is good, but only up to a limit. It is not advisable to spread yourself thin across many games. Following different esports titles does not make a person an expert in betting. Esports betting requires detailed research and prioritizing various options. It is often better to focus on one esports title to maximize returns and put forth.
Rule No. 4: Fanboyism
Teams and players rely on fan support but fanboying while betting in esports is a recipe for disaster. Blinding yourself to the flaws and downsides of your favorite team can result in bad bets. If your favorite team is on a losing streak, as a fan, you might be optimistic about the team’s chances in their next match. But the reality could be in stark contrast to expectations. If your loyalty to your team affects your best judgment, it is best to avoid the bet altogether.
Rule No. 5: Not Cashing Out
The last of the top 5 esports betting mistakes is a common one. Sometimes you catch a lucky streak and earn a very handsome payout. What do you do after a large payout? Should you continue betting? Will your winning streak continue? Unfortunately, there’s no guarantee you will keep winning your bets. Because of that, it’s best to cash out after a certain threshold. The key to a successful betting strategy is to know when to cash out. Cash-out when you are still on top and enjoy the rewards.
Following these 5 basic rules should help bettors avoid the most common mistakes in esports betting.
Written by Rohan Samal
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