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Bracket bettors beware these March Madness betting blunders


These are some of the most common mistakes sports bettors can make during the NCAA tournament

Bracket bettors beware these March Madness betting blunders | News Article by

The NCAA tournament is the biggest betting event of the sports schedule, especially those first four days of the Big Dance. The draw of March Madness betting odds pulls plenty of new sports bettors into the fray, looking to cash in beyond their standard bracket pool.

If you’re march madness betting for the first time or just need to brush up on some of the basics, these are some of the most common mistakes sports bettors can make during the NCAA tournament:

No money management
If you want your bankroll to last until the Final Four, you had better put a money management system in place. Depending on how much you deposit into your sportsbook account, you’ll want to set perimeters for your wagers.

Gambling’s rule of thumb suggests sticking to between 1 and 5 percent of your entire bankroll, so that means if you put $5,000 into your account, you want to risk between $50 and $250 on a single wager, depending on how confident you feel about that particular play.

Not all wagers should be equal. If you have a really solid lock on a game and feel confident about one side, then go ahead and pull a max bet of 5 percent on that team. If you’re leaning but a bit worried about the outcome, then bet less. You don’t want to bet the same amount on every single game.

Chasing your bets
There’s little that’s more deflating in the sports betting world than having a terrible start to the NCAA tournament. A losing day can really throw new bettors for a loop, especially those who lack the discipline to take their losses, lick their wounds, and get back to work the next day.

Even the savviest sport bettors can find themselves chasing after losses, and betting on the very next game on the schedule to try and make up for blown bets. Chances are, those bettors didn’t spend much time capping the chase and can often find themselves even deeper in the red, as most chase bets are larger than the money management model allows as to make up for those past lemons.

Chasing isn’t reserved to just losing bettors either. Sports bettors riding a hot streak of winning plays will want to keep those profits flowing and often throw a careless wager or two on random games, forgetting that the reason why they’ve been winning is that they put in the time to properly handicap those wagers. Now, they’re throwing that plan out the window and most likely some of those profits along with it.

Too many bets
The lure of March Madness betting is that there are so many important games going off at one time, allowing basketball fans to wager on hoops from noon until midnight. That doesn’t mean you need to place a bet on each and every single game.

The best plan of attack for those first four days of the tournament is to highlight the games and odds you find an edge in, isolate those and research, then rank those plays in terms of confidence. If you have eight games ranked, trim them to four or five that you feel very good about. Then bet accordingly to how strong you think those plays are.

Data overkill
Much like the Super Bowl, sports bettors can get overwhelmed with the amount of data that is thrown at them before the NCAA tournament tips off. Bettors should be very cautious when it comes to basing bets on long-running historical trends, more specifically those around seeding vs. seeding, and should focus more on handicapping current form and coaching tendencies.

There are some handy stats that can help find an edge when capping sides and totals, such as defensive efficiency and pace of play. And as always, mind the line movement and try to get the best number for your selected side.

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