One of the main reasons why Online Bookies are so successful is not only down to the fact that they set their odds slightly in their favour, it's also down to silly mistakes that gamblers make when placing bets. This includes betters not thinking straight at the time of clicking that bet button or even not having done sufficient research before taking on a bet. If you don't understand 100% of what your betting on and you haven't researched it then don't bet on it. Its not as fun and you're far more likely to lose, plus in some cases you might not be aware that you've won!

Good Betting Techniques

Research your Bet
If your betting on something you know little about then it's time to step back and ask yourself if you would benefit from a little research. Doing sufficient research usually means that you understand all the various risk involved, you learn from losses a lot better and most importantly you get more satisfaction when you beat the Online Bookies!

Set a Betting Budget
It's usually a good idea to set yourself a maximum amount of money that you can afford to lose in a month and stop betting just before you pass it. Gambling with a set amount of money each month ensures that it never becomes a problem but more like an expense that you expect to encounter each month. Don't forget to divide your monthly pot into days/weeks so that your certain how much is available for gambling on each particular day/week. Another good idea is to set yourself a daily maximum loss figure as this too makes it easier to see if your gambling more than you should be.

Set a Daily Win Limit
It's just as easy to to get carried away with a winning streak and believe that you're invincible. So, if you decide on 4 horses at the beginning of the day, leave it at that. If they all win your more likely to get greedy and start looking for more betting opportunities leaving you wide open to betting irrationally and giving some of your winnings back to the bookies you just won it from!

Take a Break
Every now and then it can actually be a good idea to step back, clear your head and evaluate where you stand financially. A series of big wins is a great forerunner to over confidence just as a series of bad losses makes gut reaction betting more likely and in turn further losses likely.

Bad Betting Techniques

Betting at Bad Odds
The odds being offered for a particular bet can vary between even the Best Online Bookies by as much as 50% and regularly 20%! If your not getting the best odds for the bet your making then when you win may only be claiming a percentage of what you could have potentially won if you'd gone to the Best Bookie. For this reason it sometimes pays to have registered with a variety of Online Bookies so that your able to pick from more odds for your bets.

Chasing Losses
Chasing after your losses is one of the biggest traps that gamblers fall in to. Everyone has good and bad days but following a bad day it's much more sensible to save your betting and money for when the right opportunities come along. Losing too much in one day tends to lead to desperate and irrational betting. Trying to find that one big bet that will get you out of debt very rarely does, and in fact, regularly gets you into even bigger trouble. The best way to combat a heavy loss is to learn from the mistakes you made and then try recuperating the money through a series of smaller, less riskier bets. Basically the slower and more calculated you are, the more likely your going to get back the money you've lost.

Being Greedy
Being money mad is not a good trait. As well as not betting too much, it's also pretty important to be realistic when it comes to placing bets. Online Bookies are brilliant at coming up with interesting new markets for punters to bet on, however, most are only devised to be so complex that it can be hard to determine whether the odds being offered are even any good. Some of the higher odd bets like scorecasts, first goal scorers and correct score bets are generally poor value. A better approach is to seek out good value bets rather than seeking out something to bet on. It may even be a good idea to limit yourself to doubles and only go for the bigger odds bets for trivial stakes.