IPL 2023 Cricket Betting Mistakes To Avoid

How to get started in IPL 2023 betting

With the IPL 2023 coming up just around the corner, it’s high time for aspiring sports betting gamblers to get their head in the game on the best ways to make good money on cricket betting! It really doesn’t take much time or effort to take that first step with IPL betting, you just have to know WHERE to start.

Read our IPL betting guide

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Once you’ve signed up for an account on Oppa888, the next step would be to explore available IPL betting markets on offer. There are always more than your few standard markets to bet on, and each will give you a chance to win real cash. However, it still isn’t recommended for any gambler, whether a novice or a seasoned one, to go into IPL betting blindly. While there are a lot of IPL betting strategies available out there, it’s also equally important to be aware of what you SHOULDN’T be doing. 

In the section below, we will talk about some of the most common cricket and IPL betting mistakes that you might run into in your IPL 2023 journey, so you can learn to spot and avoid them in time. Hopefully, they won’t affect your luck and your winnings!

Most common cricket betting mistakes to avoid during IPL 2023

Doubling down during a winning streak

In any kind of happy and exciting scenario, it’s so easy for us to get carried away with our emotions. When it comes to IPL betting, this usually happens when a bettor is on a lucrative winning streak, and the tendency is to then increase their betting amount in the hopes of bagging more money. This is definitely something you should NOT do because remember: you can’t win forever! One of those larger bets may eventually lead to a huge loss that you didn’t account for.

Chasing losses

On the flip side of what was mentioned above, even more experienced gamblers have the inclination to fall into the habit of chasing losses. When on a losing streak, we like to hold on to the hope that our luck will change eventually and so we’re likely to keep betting (sometimes in increasing increments as well) until we finally win. However, sometimes that still results in an overall loss because we bet so much that even a win isn't enough to make up for it! That’s why when on a losing streak, it’s best to just bow out gracefully for the time being and try again another time. 

Dwelling on the past

When it comes to IPL cricket betting (and really, sports betting in general), there’s no way for any person to accurately predict outcomes 100% of the time. Confronted with a loss, we’re likely to chalk it up to bad decisions, and this might also lead us to feeling too bad and dwelling on it. It’s normal to feel upset but we shouldn’t let that influence our decision-making in the future! What was a losing bet today may just as likely be a winning bet tomorrow.

Betting on everything

This is a mistake more likely to be made by beginners in IPL cricket betting as they get caught up in the excitement of it all! After all, like we mentioned earlier, there are so many betting markets to choose from (and some of them look so easy and simple to understand, too!) that it’s tempting to place a wager on all of them without any second thought. However, it’s important to practice self-control; one small bet on one market may not seem like much but when you put all those small bets together, it will build up into an unexpected amount.

Making impulsive decisions

No matter what kind of gambling you’re about to do, it is NEVER a good idea to make decisions on the spot, or as a reaction to the result of a previous betting outcome. In sports and IPL cricket betting, gamblers are sometimes given a chance for in-game betting (i.e. placing bets while a match is ongoing) but even in these cases, it’s recommended to go with a wager that you KNOW or at least have done some research on. Making impulsive decisions might just lead to bigger and more upsetting cricket betting mistakes.

Betting without a budget

One thing you definitely don’t want to do is begin with IPL cricket betting without a budget set in stone. This includes both a budget for individual wagers and betting markets, as well as an overall budget for every match and the entire IPL 2023 tournament! Betting without a budget will lead to loss of control over mind AND money. In order not to incur huge losses, you should also set a ‘limit’ type of budget: a maximum amount that you are willing to lose before you must stop.

Ignoring odds without research

It wouldn’t do to just rely on one sportsbook for their odds on a match. While it’s true that you might come across odds that are more or less similar anyway, it’s still much more prudent to compare across at least a few sportsbooks to get a better idea of the market. You don’t want to put all your eggs in one basket, after all! 

Relying on the gambler’s fallacy

What exactly is the gambler’s fallacy? Also known as the Monte Carlo fallacy, it is the false belief that if a result has occurred frequently in the past, it is less likely to occur in the future – or vice versa. In reality, the likelihood of any result happening is the same regardless of previous outcomes! There are some outcomes in IPL cricket betting that CAN be more or less likely depending on circumstances (such as a player or team’s recent performances), but you definitely should not be betting depending on this gambler’s fallacy!

Allowing yourself to be influenced by others

An easy cricket betting mistake to make is to allow oneself to be influenced by the decisions of others, or from those around you who may claim to ‘know better”. Sure, it’s always good to seek help and advice but at the end of the day, your own research and judgment is going to be the one that’s best for you. Just make sure you don’t bet on matches and markets just because someone else told you to!

Betting with unreliable sportsbooks

While we did mention earlier that comparing odds across multiple online sportsbooks is ideal, when it comes to actually placing your finals wagers you should always keep an eye out for the best online casino. One of the biggest cricket betting mistakes you could make is placing your trust and ultimately, your money, in a sportsbook that won’t keep it safe. 

Now that you know what cricket betting mistakes to avoid, you’re one step closer to starting your IPL 2023 betting journey. Make sure you check out Oppa888 and sign up today!