We all experience losing streaks. Even the experts you usually listen to and follow to experience them. It’s a normal part of our betting careers, so it’s nothing to worry about. However, when you handle a losing streak poorly, that’s one thing that you shouldn’t. A losing streak is usually quite frustrating.
Our predictions are going wrong, and you’re losing money. It’s a challenging experience to handle, so what we do in that particular situation is very important. Do you chase your losses or go home and lick your wounds? In today’s article, we will give you tips on how to handle a losing streak smartly.
Change Your Betting Strategy
We all have our strategies when we approach a race. Some start with across-the-board betting, and if they win, they go to exotic bets and then further. Some like to take it slow, start with single bets, and then tier up to boxing bets, etc. Regarding handicapping, some like to lay against particular runners, and some go for the favorite.
Each of us has a strategy, but what happens when that strategy doesn’t work anymore? One thing you can do is try to change your strategy. It’s simple. If nothing is currently working your way, maybe you need to try your luck on something else. It’s a simple concept, but it’s always effective.
Study Your Betting History
Professionals are where they are right now because they are learning from many mistakes, which is an example you should adhere to. No one is that gifted that they win all of their bets.
As mentioned earlier, even the experts experience a losing streak, but do you know what they usually do in that situation? They look back at their recent betting history and see if they can spot something they are doing wrong, and you should do the same.
Reduce Your Betting Amounts
If you got to a point where you’re consistently betting more significant than usual amounts on each of your bets, you should know that when a losing streak comes, you’ll also lose a lot. That said, in that situation, for you not to make everything much worse or, in other words, not lose a lot more money, you should take a step back and reduce the amount of money you put into each of your bets.
Some people like to chase. Chasing is when they double up their next bet to try and take back the loss they just experienced. While it might be a sensible thing to do, it’s also precarious. Why? If you lose your double-up bet, you’ll lose 3x your original bet.
If you win, that’s good, but a professional handicapper wouldn’t double up their bet without thinking it over, but still, it’s an unwise thing to do.
This goes hand in hand with the last tip. If you’re currently experiencing a losing streak, then most of the time, the best thing that you should do is to just stop and move on. As mentioned earlier, even the best of us experience their losing streaks, and most of the time, they stop for the day and try their luck on the next.
We know that it’s frustrating to have a losing streak, especially if you have already lost a lot of money, but if you let your emotions get the best of you and chase, you’ll lose a lot more money. If you don’t know what chase or chasing means, it’s one of the TVG horse betting terms, which means trying to take back your losses by doubling up your next bet.
Worst case scenario of this is that you’ll be hurting your bankroll a lot. Always think logically, even in the face of a losing streak.
Don’t Drink Under the Influence
When we say influence, we mean alcohol. Alcohol is a culprit of some of the heinous things in society, but it can also be something you should avoid when you’re on a losing streak. As we all know, a losing streak is very frustrating, and every one of us has different coping mechanisms during this experience. However, some of us turn to alcohol during a losing streak.
It’s understandable, though. You’re losing your bets; you’re losing a lot of money; you’re worried about your bankroll, etc. In short, you’re both anxious and frustrated, and a beer wouldn’t hurt right now.
While it’s fine most of the time, if you continue betting with a drink in hand, those feelings will get amplified, even making you braver and chase your losses. Chasing losses can be bad, but with a beer in hand, it’s worse.
A losing streak is a part of the process. You can’t expect to win all the time, no matter how good you are. Remember, professionals also experience losing streaks. However, to avoid making things much worse, you can follow the tips we discussed above. Always put in your mind that losing streaks are normal; getting hung up over them is not.