If you are a sports bettor active at US, German or UK basketball betting sites, or some football online bookies or placing bets on other sports regularly, you know how frustrating it can be to go on a losing streak. The first thing to recognize about that is that they do happen. Every punter who has done any type of betting for a sustained period will go through a losing streak.
Such things can be testing times as well, because you may feel like you are doing everything correctly, but the results at the end of the day just aren’t going your way. It can feel like Lady Luck has deserted you.
That can then spiral into more difficult things such as, out of desperation to snap a slump, trying to chase losses, where you start throwing more money at wagers, usually at long odds, to try and recoup. Doubts may even creep in about your betting skills, strategy and luck.
But it is important to understand that losing streaks in sports betting are inevitable they don’t have to last. It doesn’t matter your experience and skill level, even professional bettors go through periods of negative results when expectations are not matched by reality.
Step Away From the Table
This is the first and probably most important thing you can do in this situation, take a break. Losing affects your mindset in so many ways, but even though it’s a negative, bettors still get a high from losing.
Stepping away for a while might not change your luck, but it will give you a renewed focus that may help to make better decisions that can help to snap the losing streak and thoughts about it. You can step away, and take some time to clear your mind, by doing something else like a bit of gardening, video games or exercise to get you out of this betting cycle. That way you won’t be tempted to make up for your losses or the next big exciting sporting event that is coming up. You know that when you’re ready to return, probably with renewed motivation and confidence, betting opportunities will still be there, so even if you take a break, you won’t be missing out.
Review Your Strategy
While taking a break from betting, it is also a good time to refresh your perspective about how you’re approaching the game. Is your losing streak a flaw that can be fixed? Is your betting strategy as good as you may think it is? It is well worth reviewing your betting strategy to see if there is something that needs tweaking. Also, remember things do change. Keeping your tactics uncomplicated such as applying the Martingale strategy will help you simplify and keep your mind clear.
A team that you regularly bet on is known for scoring a lot of goals, for example, can suddenly under a new defensive-minded Head Coach, become a completely different beast which means that you have to adapt.
Be objective about your betting strategy, and try to spot areas where you may have been influenced by emotions or confirmation bias and weren’t quite as objective as you should have been.
Keeping a Betting Log
This leads us on to something that all punters should be doing and that is keeping a log of all bets. Write down everything about every bet that you do, as that’s the only way that you are going to be able to really track what’s happening. A lot of punters get swept up in recency bias, focusing only on what is happening in the present and not looking at longer trends. If you have a bet record, you can see exactly what’s going on. You can get your printable betting logs at printerfriend.ly.
Another recommendation is to get into a realistic headspace about sports betting. Understand that losing streaks are part of the whole betting experience. There’s no punter out there that is running at a 90%+ success rate with their wagers.
Sports betting should be a casual pastime that is challenging and fun, but not something that leads you down stressful, panicked rabbit holes. Manage your bankroll, because when you are on a losing streak, betting more than you can afford to lose, or borrowing money to bet is a dangerous, slippery slope.
Wagering is a long-term endeavour that requires patience and perseverance, so focus on the quality of bets rather than targeting quantity.
Check your bankroll. Have you simply been betting too much? Have you increased the frequency of bets? Or perhaps have changed the base unit of your wagers and that is why results are looking worse than they are?
Always have a bankroll management system in place, where you set a fixed amount of money that you are willing to risk on sports betting. Then take a percentage of that total, usually 2-3%, for each stake. That way you simply protect yourself and the budget.
With the right approach, however, it is possible to get a handle on a losing streak. Losing streaks are inevitable in sports betting, but they don’t need to be the end of the world. There are ways to turn it around and it’s about keeping a level, disciplined head and being able to walk away when needed. But if things are heading to a bad place, seek professional help. Here’s state-by-state resources compiled from the National Gambling Council.