A decade ago, esports was a totally unknown industry that was making its baby steps in the harsh, post-recession world. The competitive scene was non-existent, only a handful of professional organizations were up and running, and the future didn’t seem all that bright. However, with a couple of stellar games such as Starcraft II, League of Legends, Dota 2, and CS:GO, the esports industry started growing out of its margins and was set for stardom.
Fast forward to today, and the esports industry is a behemoth. It has paved the way for numerous supporting niches, the most important of which is surely the esports betting industry. There’s a ton of money on the line here, much more than most people think. In 2019, the total amount of esports wagers was projected to reach $8 billion USD.
The popularity of betting on esports is not slowing down.
Competitions went on, and the betting sphere flourished thanks to the lack of sporting events.
If you’re thinking of joining in on the esports betting fun, you might want to stop for a second before you end up wasting a ton of money.
Well, that’s what we’re here for! More precisely, we’ll help you assess the risks by showcasing the biggest, most common esports betting mistakes, alongside tips on how to stop making them. It’s not going to be straightforward all the time. There are plenty of tricky esports betting mistakes you’ll have to pay close attention to, but with a little discipline, we’re sure you’ll be alright!
|50% up to $1,000|
|100% up to $1,000|
|50% up to $250|
|50% up to $300|
What Are the Most Common Esports Betting Mistakes?
Now that you know we’re focusing on the most common esports betting mistakes today, it’s time to stop beating around the bush and dive right in!
Sticking With Bad Esports Betting SitesThis is definitely among the top three most common esports betting mistakes people keep doing. And, let’s face it, they’ll never stop doing it. But that doesn’t mean you should be among them! If you’re already enjoying betting on esports online, but you’re not sure you’re getting the experience you deserve, don’t waste your time and switch to another one as soon as possible.
If you’re not sure where to look, you can always check out our comprehensive list of the best esports bookmakers. You won’t just find the best bookies out there, but a ton of valuable info as well. It’s sort of like a beginner’s guide to esports betting online. If you’re just starting out, reading it is a real must!
Chasing LossesHave you guys heard about chasing losses? That’s when people lose a ton of money on esports betting (or any other type of online betting, really), and they dive even deeper, wagering with even more money. Often enough, people who chase losses aren’t even betting with their own money. They either take loans or bet with rent or food money.
We reckon you already see where this is going…
Never do this!
This is the easiest way to get yourself in serious financial trouble, and you don’t want that! If you’ve lost a promising wager, come to terms with it as soon as possible and call it a day! Tomorrow is another day, and your decision-making skills will be much better after a good night's sleep.
Betting Too OftenIs there such thing as betting too often or betting too much? Of course, there is! As with everything else in the world, you have to take esports betting in moderation. Too much of it, and you’ll either have a massive dent in your budget, or you’ll be forced to go into debt to cover your growing esports betting expenses.
What we recommend is taking a pause after every wager you win. You can treat yourself or put the extra money in next month’s betting bankroll. Either way, make sure you pause every now and then, otherwise your ability to make rational, fact-driven decisions will be in danger.
Betting With Money You Don’t HaveWhat’s worse than betting too much? Betting with money you don’t even have. Yep, some people do this. Some people take out loans and try to cash in on a fiery special. Needless to say, this is an awful idea on so many levels.
For starters, betting with money you don’t have is the start of another wicked cycle. Even if you win the first wager, you’ll get greedy and go on a betting spree that could seriously endanger your personal finances. Long story short, never bet with the money you don’t have or can’t afford, period.
Not Cashing Out When You’re AheadYou’ve placed several high-risk bets, one of them comes through, and you end up winning a whole bunch of money. Obviously, this is the perfect chance to finally spoil yourself! Go out and treat yourself! You don’t win big every day (if you do, please teach us).
Unfortunately, lots of people get greedy after getting a major W. As soon as they get a taste of winning, they want more. They want to double their win, then again, and again, and again… It’s a vicious cycle, one you should never be a part of! Contrary to popular beliefs, there’s no place for greed in betting.
Make sure you remember that!
Sticking With Match-WinnersA ton of esports betting enthusiasts only place match-winner bets. Yes, we understand that match-winners are the simplest, most straightforward bets out there, but there’s really no reason to limit yourself so drastically.
Most of the time, the highest-value bets are hidden away in the esports specials section. It can be a bit time consuming to find the greatest deals, but if you’re keen on being profitable, that’s definitely one way of drastically increasing your chances of success.
Betting When High or DrunkDo we really need to elaborate further on this one? Come on, you should all know that betting when high or drunk is never a good idea. No matter if we’re just talking about a few glasses of beer or a few joints, the results are always the same and terrible for your personal finances.
People make terrible decisions while under the influence of alcohol or drugs. That’s an outright fact. With that being said, if you’re not capable of driving when high or drunk, you’re not capable of betting either. If you are intoxicated or have impaired judgment, just save yourself the losses and call it a night.
Save your money for another day!
Failing to Understand the BasicsYep, there’s a ton of people who, even after years of experience, still don’t have a full grasp on the basics of online betting on esports. If you’re among them, or if you’re a total beginner, our esports betting FAQ ought to be a good place to start.
It features a massive number of frequently asked questions as well as their respective answers. Most of the questions are based on the basics of esports betting, but there’s some advanced stuff in there, too. There’s bound to be something that’s right up your alley, so make sure you go and check it out!
Being EmotionalThe same story goes for betting when overly emotional. Whether we’re talking about personal life issues, business issues, or financial difficulties, you should never partake in esports betting when your emotions are driving your daily routine.
If you do, we guarantee you’ll end up losing a ton of money and end up being an even bigger emotional mess. Do you really want that to happen to you? Come on, of course you don’t! In that case, don’t bet when you’re overly emotional and you’ll be alright!
Failing to Recognize Important Esports EventsIf you’re serious about becoming a professional esports bettor, you’ll need to learn the esports events’ ABCs. It’s nothing difficult, don’t worry. Sites such as Liquipedia can be a great source of information. Not only do they separate esports events according to their importance, but they also showcase start and end dates of all events as well.
Learning the starting dates of all major events across all major esports titles won’t take too much of your time. If your approach is a rather serious one, you can always make a spreadsheet and pack it all with relevant info. This way, you’ll always be in the know as far as the biggest, most notable esports events are concerned.
But why does this matter?
Well, knowing when each event starts will allow you to prepare your bankroll accordingly. After all, you always want to have a dashing amount of funds right before the start of the next big event of your main esports title.
Ignoring StatsNever ignore relevant stats! No matter how silly and one-sided they may seem, a relevant stat should always be taken into consideration.
Of course, we’re not talking about stuff like, “The last time Astralis lost on Nuke was on a rainy Tuesday; today is Tuesday and rain is just about to start, so what am I waiting for? $50 on C0ntact all the way!!!”
You need to understand the relevance and learn how to differentiate useful stats from irrelevant, obsolete ones. It’s not something that can be taught. It comes with experience and requires a lot of patience.
Not Double-Checking InfoAlways double-check everything you read online, even if it’s coming from a reliable source! You never know what can go wrong. Perhaps it’s just a typo, or perhaps there’s something more to it. Either way, you should never invest large sums of money into your wagers without previously double-checking all the information you’re working with.
On top of that, never invest your money into bets recommended by so-called industry experts. While we don’t want to get into the whole scam discussion here, we still feel it’s important to emphasize critical thinking. Use their picks or predictions only as a portion of the whole story, and try to corroborate it with additional stats and valuable insights.
That’s how winning wagers are made!
Having Unrealistic ExpectationsYep, this is the last common mistake people tend to do when betting on esports. It’s well represented, just like all the aforementioned ones. Luckily, though, it’s pretty straightforward. There’s no place for unrealistic expectations in the esports betting sphere and in the online betting sphere, in general.
Well, thinking you’ll become rich overnight with a juicy tenfold accumulator will just make you lose more money with each passing day. Chasing massive wins is a never-ending cycle. A cycle that could put your finances in a world of trouble if not addressed in a timely fashion.
For this one, the best advice we can give you is to pace yourselves and take things one step at a time. You probably won’t get rich by betting on esports. It’s a fact. Only a small portion of bettors will be able to live without having to go to work every single day.
The rest will have to suffice with occasional wins and thrive for small profits at the end of each month. It’s just how things go.
End of the Line
That’s it, fellas! This is everything we found that’s even remotely related to the most common esports betting mistakes. It’s been quite the road, but we believe you were patient and read through everything. After all, you’re going to be investing a lot of money in your esports wagers, so any help you can get ought to be valuable.
That said, we’d like to cut this piece short here. We’ve told you everything we know. Now, it’s up to you to use the information we provided and slap together a wicked winning wager. Is it going to be a single or an accumulator? That’s all up to you.
[ Back to Top ↑ ]