Top 5 mistakes to avoid when betting in on ICC World Cup 2022
For cricket lovers, there are no bigger tournaments than the World Cup. The ICC World Cup 2022 is right around the corner. It is the international showdown of the World’s best ODI teams to show who rules the world of cricket.
At the same time, it’s a massive market for cricket betting. Punters worldwide wait for events like the ICC World Cup to get the longest odds. However, did you know that there is room for errors when placing Cricket World Cup bets on online bookmakers?
Today, our goal is to educate you on the top 5 mistakes you may make when utilizing the ICC Cricket World Cup odds this year. Without any further ado, let’s get you started.
Top 5 mistakes to avoid when betting on ICC World Cup
As promised, this is the section where you will find the most common yet very impactful betting mistakes. Don’t worry because a betting expert has outlined this for us. So, we know what we’re talking about.
Unplanned Betting is Suicidal (Metaphorically, of course)
The ICC World Cup is one of those tournaments that see plenty of seasonal bettors. These bettors are not regular with their practices, and they wait for high-voltage tournaments such as this, the T20 World, or the IPL.
The problem with unplanned betting is that you’re not aware of the circumstances. You “think” a team will win the match or a player will be the game’s man. But there are no research efforts made to back up your thoughts.
It is by far the most common mistake, in our opinion. To even remotely succeed in sports betting, you need to put in the effort.
You should start by researching the team lineups for the ICC World Cup. Look into the injury reports and projections. Look at the statistics for at least the previous year to get an idea of the team’s consistency.
Only then you can expect to have a chance to enjoy and win some cricket bets.
Only Betting at One Bookmaker
Our instinct is always to find a bookmaker that we believe will be good for our betting needs and we stick to it. While it’s a good practice for consistency, you need to go beyond for high-voltage events like the ICC World Cup. It is more a lack of awareness rather than a mistake.
The odds are often identical across the bookmakers in regular events like the IPL or international friendlies. You’ll most likely see subtle differences, but those are not worth it to sign up and verify a new account.
But for global events like the ICC World Cup, you must explore your horizons. Look into the best cricket betting sites we’ve linked above and visit each bookmaker individually. Look at the odds. Compare them.
Doing so will give you the idea of which bookmakers are taking the lead for Cricket World Cup betting. At the same time, you can win more from the same market by utilizing longer odds.
Expecting Unreasonable Outcomes
Although it may sound cliché, new punters often expect more from a bet than the rational. For example, very few countries can perform well against cricket Australia in high-value matches. It is one of the strongest teams when it comes to cricket. And it just becomes unbeatable when it comes to the World Cup.
Say you’re a resident of Zimbabwe. This wonderful country is unfortunately not considered a strong team in cricket. So, in a match between Zimbabwe and Australia, if you get sentimental and place all your money on your home team, it’s safe to assume that you’re going to lose.
Australia and Zimbabwe are just 2 examples of skill discrepancy between the teams. We can manipulate the instance in any way we want. For example, you can’t expect a pacemaker with a hamstring injury to take 5 wickets in the match.
These subtle things where your brain tends to fight your heart, listen to your brain. From strictly a cricket betting perspective, your brain is your best friend.
If you’ve been betting for years and you’ve developed a gut feeling that doesn’t make mistakes, go ahead and place the bet. But make sure you have enough data and experience under your belt to justify the decision.
Not Using Betting Strategies
Now, if you think we’re recommending using betting strategies for the sake of winning, you’re thinking wrong. Current strategies were never developed to guarantee a win, and it’s impossible. Because sports betting of all kinds is a component of gambling, and you can’t guarantee anything when wagering is involved.
When you deploy a betting strategy during ICC World Cup gambling, you can expect not to blow your entire funds on a bad bet. Rather, the betting strategies are designed to prevent disastrous losses and maintain bankrolls better. Also, systematic approaches like progressive betting strategies can help you minimize losses.
The Kelly Criterion is a well-known and suitable betting system for cricket. We’re not going to go into the details of the system. But know that it’s a mathematical formula developed by John L. Kelly Jr. that helps determine the optimal size for your wager.
Chasing Losses
Well, this is not an exclusive mistake made by cricket bettors. We’ve seen plenty of gamblers from all different backgrounds making the same mistake repeatedly. The thing with both online and offline gambling is that you can’t win by cashing what you’ve lost—chasing losses.
It’s primarily due to the house edge. The mathematical advantage an operator has over you, and the regulatory bodies approve it. So, the longer you try to chase your losses and minimize them, the more you will lose.
The best way to prevent such a disaster in your life is to have fixed funds for betting. If you’re planning to wager on the ICC World Cup matches, now would be a good time to set up the funds. You should split it by the day. Once you reach the daily limit, don’t push your luck any further. The money you lose is considered an entertainment cost.
All modern online bookmakers have a dedicated section for responsible gambling on the website. They also offer various tools like loss limits, betting limits, time limits, etc. You should look into the tools as well when you start your adventures.
Tips for ICC World Cup Betting
Before we wrap things up, why don’t we give you a few pointers that will help in the long run?
Look for props bets. Props or proposition bets are the ones that don’t influence the match outcome directly. But they can bring good profits. Different bookmakers are going to offer other props bets so you can mix and match according to your preference.
Stick to money line wagers if you’re new. It’s the simplest market of all and usually has the longest odds. A money line bet is where you bet in favor of a team.
Never bet at unlicensed bookmakers. And it’s the single most important tip we can give you for all kinds of gambling.
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