Staying focused during a losing streak

Robert K - January 24th, 2008 .

There are two extremes that come into play when a gambler goes on a losing streak. He either starts to chase his losses, betting bigger and bigger to try and get everything back. Or, he stops betting entirely, passing on great opportunities just because he feels cursed.

It’s important for you to remember that any involvement with “chance” is going to have an ebb and flow. You’ll have good weeks. You’ll have bad weeks. Flipping a coin will have stretches of heads, and stretches of tails. But, the inherent probabilities don’t change. That’s the important thing to remember.

Here are some tips to follow if you’re confronted with a bad short term run.

*Study the games closely to see if you’re losing because of handicapping errors, or because of bad luck. Again, luck plays a big role in sports betting. Sometimes the breaks just go against you. If a star player got injured, if a questionable officiating call went against you at a critical time, you shouldn’t hold yourself responsible for the loss.

On the other hand, if you’ve overrated or underrated a team, then it is your fault. Study your key indicators closely. You might find that a mistake in one game leads you to several winners in future games. That will turn things around right there!

*Avoid any urge you have to chase. Some gamblers are conservative by nature, so they don’t fall into this trap. But, many assume that they just can’t keep losing, and that betting big on the next game will provide an easy way out. If that loses, bet bigger on the next game. You should all know by now that this is a fool’s effort. Even if it works the first time you’re on a losing streak, and the second time months later, it will eventually break you. At some point, chasing will exceed
the possibilities of your bankroll.

*If you’re the conservative type, make sure you haven’t crawled too far back in a shell. This style of wagering is prone to pass on winning plays because the fear of losing has become too prominent. The fact that you’ve been suffering bad luck in recent games doesn’t mean you’re cursed! Tomorrow is a new day, and you should be betting any games where your handicapping suggests there’s an edge. You can’t dig yourself out of a hole if you don’t have a shovel in your hands.

Being a long term winner in sports betting involves knowing how to deal with the highs and the lows you’ll encounter. Many former gamblers didn’t know how to handle short term success or failure. If you want to make a career out of this, you need to make the right decisions at the right times. Slow and steady wins the race, as long as you keep moving
forward.

 

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