No matter how well versed and knowledgeable you are, if you bet on sports frequently you must have had faced losing streaks.
It feels like you have tried everything but nothing seems to works. I have had some pretty worse losing streaks. I tried everything favourites, underdogs, unders and overs but at the end of the weekend, I had no wins at all.
I know how frustrating it can get and it is one of the downsides of sports betting that can keep you on the edge. Putting in the efforts and failing again and again, without a relief.
The thing is no matter how experienced gambler one is, everyone undergoes losing streaks.
But the reality is only the ones who know what they are doing can actually manage and avoid depleting their bankrolls.
Just as winning consistently in sports betting requires knowledge and planning, the same goes for the weathering the storm of several losses.
OddsMax has some tips for those of you who are on a losing streak to get through the hard times and get back on a winning streak.
1. Never try to cover the losses in one bet
Losing can be frustrating and the buildup frustration can lead to bad decisions. Ask any bettor and he will tell you that when you are losing, the urge to make more and more money to make up for the losses takes over you. But this wrong decision during the time of downfall can leave you with an empty bankroll or worse.
One of the characteristics of a good sports gambler is that they never fall into the trap of chasing the losses. Problem is the risk involved is too high and you could easily end up losing a significant amount of money.
The trick with being profitable is to be able to stick around long enough to be profitable.
2. Don’t be lenient with the bankroll
A losing streak gets your attention to the bankroll, if you are not already aware of is the importance and why you must stick to one.
Simply put, the bankroll is the pool of money that you have set aside for the sole purpose of betting.
Once you have the money pool the next step is to determine what percentage of the bankroll you are willing to risk in one bet. Your bankroll must only have the money that you are willing to lose without any risk.
Most gamblers manage their bankroll by limiting the amount they are willing to risk to 2% to 5%, but you can adjust yours accordingly. We recommend to keep it to as low as possible.
You need the bankroll to keep in the game, the amount you bet on a game must be adjusted in such a way that you can remain in play as long as possible.
It does not show be as amazing as you think it will be, but bankrolling is important to avoid big losses and spiral out of control.
3. Get back to the basics
For those bettors who are risk-tolerant and looking for a big win, there are plenty of betting options from online sportsbooks that are one of the biggest betting grounds for high payday seekers. But we do not find them to be the best way to make up for the losses.
While the online sportsbooks offer you multiple kinds of bets such as teaser, parlay or prop bet but the risk involved is much higher as you will have to win multiple bets to win the play.
At times it is better to stick to the old-fashioned spread. Betting the good old -110 spread with juice factored in is usually the best opportunity to win and sometimes that’s good enough.
Betting with value in mind might be slow and not that lucrative, but it always proves to be the best strategy overall it gives you the chance to stop bleeding when you are on a losing streak.
4. Vouch for a different sport
Albert Einstein said insanity is trying the same thing over and over again and expecting a different outcome. This is something that makes sense to the losing streak in sports betting as well.
For instance, if you bet on 5 NFL games and lose on all of them, it is a good idea to try your hand at a different sport and see if you can find a win there.
It can never be said where would you find a hot streak once you start putting efforts towards something else.
Remember that over-analysis is the enemy of success in almost every endeavour that includes sports betting as well.
Normally, it is dangerous to just let the guards down and think that you know what exactly is going to happen. But his public biases let sportsbooks to play against the bettors and win. But at times it is a good idea to take a chance the let the dice fall where they may.
5. Make your mindset long-term
It is normal human psychology that people tend to remember the bad times more than the prosperous times which why they usually take a negative mindset.
When your gambling is going through a rough patch it is easier to fall into the crack of abysmal but it is your responsibility to tell yourself that the tide will turn into your favour if you stick around long enough to see the change happen.
If you keep track of all your plays then you will be surprised to see how many weeks or months you have had positive earnings. It is proof that you are fully capable of winning just having a low time which makes you feel like a loser.
There are no seasons in sports betting and you always have a chance to make a comeback. There is no reason for you to treat sports betting as a short time game but a long-term venture. The success you had in the past, take a holistic view of it and recognize that you have only hit some bumps on the road and it will all get alright along the way.
6. Take a few days off
As mentioned before, you might feel the urge to win all the losses back when you are losing which is why it is sometimes you will be benefited by showing patience and stepping away from betting for a few days.
There is a very slim difference between adequate analysis and over-analysis. When you are losing it is good to take some time off and let the sense of urgency subside.
Patience will help you relax your mind and most importantly will put you in control to not let the emotions take over. If might find it hard to sit idle but remember that if you are betting, you are not losing any money.
For any gambler, it is not possible to avoid the losing streaks in sports betting. Irrespective of your skill, sooner or later, you will be hit with a rough patch.
In betting, it is always a constant battle which is why managing yourself when you are losing is more of a skill than just luck. We expect these tips to help you get back on your feelings and do damage control.