5 common mistakes when betting on football

Football is back, and Bet Chicago Sports wants to help readers be prepared for this upcoming season.

Whether you are a new bettor or an experienced gambler, there are common mistakes that people tend to make when betting on football. There is no guarantee that you will become a winning bettor, but avoiding these mistakes could help you lose less in the long run and thus make the season more enjoyable.

1) Waiting until Sunday to place bets

Look, I know you will be excited to wake up Sunday morning and place your first bets. And you are certainly allowed to do just that. Remember to place your bets at Caesars Sportsbook, which is the official odds partner of Bet Chicago Sports.

But just keep in mind that limits (max amount for a given wager) generally increase as the week goes on, and the biggest bets typically come in on Sunday. That is because oddsmakers feel more comfortable about their number as they get closer to kickoff.

With that in mind, look for opportunities to place bets earlier in the week. It could even lead to a better number! I’m not saying you can’t place bets on Sunday, but readers should be aware of the downside of consistently waiting until the end of the week to make a bet.

2) Overreacting to injuries

Injuries are common in football, which makes sense because it is an extremely physical sport. That’s why fans and bettors are constantly monitoring the injury reports throughout the week, trying to determine who is in and who is out.

But don’t overreact to injuries when betting on football. The market will adjust when injury updates happen, but teams can still have success without key players. In most cases, the betting lines move too much because generally non-quarterbacks are not worth that much on the spread.

3) Only betting on your favorite team

Bettors can have a bias when it comes to their favorite team. We are clouded by the team we watch closely and tend to have extreme opinions on our favorite squad.

That doesn’t mean you shouldn’t bet on the Chicago Bears, for example. It just means you should be aware of your bias. Maybe you think higher of them than the market and keep losing money while backing them on the moneyline. Or you might think they are so bad, so you miss opportunities to take the Bears to cover the spread.

Just remember to keep your potential bias in check this year.

4) Betting teams, not numbers

Bet numbers, not teams. That is my biggest piece of advice for any bettor.

This is a common expression in the sports betting space, and for a reason. Bad teams can still be good against the spread. For example, the Detroit Lions went 11-6 against the spread even though they finished with a 3-13-1 overall record and a -142 point differential. The Rams won the Super Bowl last year, but only went 8-8-1 against the spread in the regular season.

Oddsmakers are constantly adjusting to what they see from these teams on the field. So don’t just watch a game and decide you won’t bet a team at any number, because the market will absolutely adjust.

5) Mismanaging your bankroll

The fastest way to deplete your bankroll is by mismanaging it.

Don’t chase losses by betting more than you normally would to make up for one loss. Don’t get greedy when you go on a winning streak. Try to keep all straight bets within the same unit sizes, which should generally be 1-2% of your bankroll.

There is no such thing as a lock in sports, so keep that in mind when placing bets this season.