Bettors must be able to deal with betting losing streaks.
Key Points
– Bettors that can deal with betting losing streaks can be profitable in the long run.
– Betting losing streaks are going to happen, even to the best in the business.
Dealing with Betting Losing Streaks
Anyone who bets on sports on a regular basis will occasionally go through betting losing streaks. Even the best bettors in the world experience times when nothing goes as planned and it seems impossible to predict a winner. The best bettors are those who know how to handle it, which sets them apart from the competition.
Some betting losing streaks are blips and are handled easily. Others are more difficult to manage. If you keep in mind the old proverb “what doesn’t kill you makes you stronger,” you can manage any losing streak.
There is something to be gained from betting losing streaks. Smart bettors – like the winning CFB bettor – learn from their mistakes. When it comes to dealing with these streaks, there are no hard-and-fast rules. What works for one person may not work for another.
There are, however, a few basic pieces of advice that can help any bettor navigate the betting losing streaks that they are sure to encounter in their career.
Betting Losing Streaks Are Going to Happen
Accepting that losing streaks WILL occur to you is the first step in preparing for them. You’re going to get a surprise eventually if you believe they won’t. Don’t fool yourself into thinking you can avoid bad runs.
No matter how good a bettor thinks he is, there will be periods where nothing goes right. On the flip side, there will also be times where everything you touch turns to gold.
As a bettor, you want to experience the gold times more often than the betting losing streaks.
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Define a Bad Run
Bettors need to identify what a bad run is. What one bettor considers an unusual run of losses might not be for another. Determining what constitutes a bad run is therefore crucial to preparing for them.
For instance, if you place most of your bets on underdogs with large odds, you won’t be concerned if you lose five or six bets in a row. That would be expected. If you wager on favorites that are extremely undervalued, even a few consecutive defeats could be viewed as a bad losing streak.
When reasonable losses turn into a bad run is ultimately up to you to decide. Generally speaking, it’s time to take action when the losses begin to noticeably affect your bankroll.
Track Your Bets
Keeping proper records is crucial if you take sports betting even slightly seriously. Tracking bets will help you identify what might be contributing to your betting losing streaks. Knowing what’s going wrong can help you fix it.
One of the first things you should do when you are losing is to analyze your prior wagers. This analysis can help you find the reasons for your losses. You can’t do that if you don’t track your bets.
Identify Why You Are Experiencing Betting Losing Streaks
The hardest aspect of dealing with bad streaks is usually figuring out why you are losing. It should be quite clear that your new strategy isn’t working if you recently modified your selection criteria and then all of a sudden start losing the majority of your bets. However, not all issues will be so simple to identify.
Take the following example. A bettor is winning close to 60 percent of all bets during the NFL season. The bettor typically bets strong point spread favorites and the occasional short underdog when there is value. Every now and then, the bettor bets a moneyline underdog that offers value.
Later in the season, the bettor begins to experience numerous losses. The losses were enough to fit in the category of betting losing streaks. After analysis, it was determined that the bettor was not paying attention to the motivation factor.
Closer to the end of the season, teams that are out of the playoff picture aren’t as motivated as teams playing for a playoff berth or a higher seed in the postseason. The bettor was overlooking this key element. Adjusting his strategy, the bettor was able to survive the rest of the football season.
After identifying the reason for the losing streak, the bettor was able to adjust and get back to winning.
Consider Your Options
Maintaining your discipline is likely the single most crucial thing you must do when overcoming a bad run. It is all too simple to start chasing your losses out of irritation, but this will most likely only make the problem worse.
You must remain composed and in charge if you are having trouble pinpointing the root of your betting losing streaks. Making logical choices and carefully weighing your options is the only way you have of changing the situation.
Consider all of your options after you have identified why you are in the midst of a streak. One good idea is to lower the amount you bet to cut down on the amount you are losing. You could continue on as if nothing happened, though that is unlikely to change anything.
If things do improve, great. The likelihood of that happening isn’t great, so you can try something like betting on a different sport. You could try different bet types or you could try some new betting strategies.
You can attempt a number of things at this time. You might choose a different sport to wager on or use some alternative tactics. There are numerous ways to profit from sports betting, so you shouldn’t be discouraged simply because one strategy didn’t work out. If you still have faith in your ability to predict outcomes, it’s always worthwhile to try a fresh strategy.
The last resort, which is almost ridiculous, is to give up entirely. Sports betting is not for everyone, so there is no shame in giving up. But, if you truly love sports betting, you’ll find a way to get out of your betting losing streaks.