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Technological Issues and Limitations
As statistics show, access to the bookmaker’s website is most often done from laptops, less frequently from tablets or mobile phones. Powerful desktop PCs are used for access quite rarely. The use of outdated equipment with low functionality can create significant problems. After all, for the prompt monitoring of the current situation with live betting, a constantly crashing or lagging website, slow update loading speed, and slow internet not only cause inconvenience but can also lead to financial losses. This is because the bettor may not be able to react promptly to changes in the match situation and miss the most favorable odds.
Psychosomatic Factors and Psychological Errors
The following list of factors leading to gross errors is applicable to all types of bets. However, in Live mode, they manifest themselves very quickly and lead to even more unpleasant consequences.
Broadcast Time
Another significant factor is the timing of the match broadcast. It is important to understand that modern bookmakers accept bets and broadcast matches ‘online’ from all corners of the world. This creates the need to observe the game in real-time during nighttime and dawn hours. At these times, the cognitive abilities of the body are somewhat suppressed, which the player needs to take into account when analyzing betting options and making risky decisions.
For example, the time difference between Brazil (Copa Alagoas) and India (New Delhi) is 8 hours and 30 minutes.
The Desire for a Quick Recovery
One of the main psychological mistakes that bettors make when placing live bets is the desire for quick recovery. Regardless of how the previous bet was made, pre-match or live, the loss is perceived by the player as extremely painful. Many inexperienced bettors seek to instantly compensate for the loss by placing a bet on the same match but on the opposite outcome. Such actions are often taken during periods of high stress and emotional instability. Therefore, the player cannot accurately assess either the amount of the bet or the current odds. As a result, any profit obtained (if any) is significantly lower than possible.
Spontaneous Bets
This phenomenon in the professional slang of bettors is called ‘spontaneous market entry’. Typically, such actions are observed from inexperienced players, and the reasons can vary widely. For example, a match involving a national team or a favorite club, teams with a globally recognized name that have shown very good results in the recent past. The absence of pre-match analysis and comprehensive study of the sports event, which is characteristic of spontaneous betting, almost always works against the bettor.
Financial and Organizational Mistakes in Live Betting
Organizational mistakes may not seem as critical at first glance and may not directly lead to losses, but they can be the cause of losing a large sum of money. Experienced bettors consider the following to be the main violations:
- The absence of bankroll management or violation of self-established bankroll rules is a significant issue. It is strongly recommended to allocate 20–30% of the total gaming bankroll specifically for a live betting session and not to exceed it. As for the amount of live bets, it can range from 5–10% of the bankroll allocated for the session, depending on the size of the new bankroll.
IMPORTANT! “Successful” live betting tactics such as “chasing” — placing new bets on the same outcome when the odds change or duplicating interconnected outcomes are a guaranteed path to draining your bankroll.
- The absence of a live betting session plan. To avoid scattering with numerous small bets or draining the bankroll in several unsuccessful large ones, it is necessary to prepare a clear plan, including:
- Temporary session limits;
- Limits on the total amount of the bankroll and each bet;
- A clear sequence of actions for hedging losing bets.
The last point includes a list of unrelated sporting events that the player should pay attention to in case of a negative outcome. This way, the bettor will be protected from frantic searches for suitable sporting events and mistakes made under the influence of emotions and fatigue.
Pre-Match Analysis
Many novice players make live bets based on ‘commonly known’ facts about teams or purely intuitively. Usually, such widely known information cannot be considered as a basis for quality analysis. Experienced bettors use the live mode as an additional source of information, conducting research and analysis of all data long before the start of the match. For such players, live streaming and the accompanying live betting are just additional tools confirming their preliminary conclusions.
Following the Odds
Many newcomers in the world of betting practice a ‘no-lose’ strategy of placing large sums on minimum odds, i.e., on clear favorites. For example, on 1.1 or 1.05, etc. Considering the features of the live mode, such a player aims to turn over the bankroll several times in a short period, each time betting the entire allocated amount.
As statistics show, an unfavorable outcome of a bet, even with a clearly expressed favorite, occurs with a frequency ranging from 1 in 5 to 1 in 7, depending on the sport. And considering that the winnings on such bets, even with large sums invested, are meager, the player will quickly lose the entire bankroll without a chance of recovery.
