In this sportbetting Academy video, we take a look at how to deal with losing runs when betting on sport.
Video Transcription: How to deal with losing at betting
Here’s a little secret for you: Not every bet that you place will be a winner. Even the pros experience losing runs, but in this video we’re going to talk about why they come about and how to deal with those pesky losing streaks. Welcome to another sportbetting academy video. So, losing streaks will be a part of betting if you start betting regularly, it’s a statistical certainty, you will experience them in the long run.
What we’re going to talk about in this video is actually how to deal with those losing runs and how to learn from them and ultimately progress with your betting.
So, the first piece of advice that we have once you identify that losing streak is happening, is actually thinking about taking a break from betting.
Now, while it can be tempting to go and start chasing your losses, you need to think about it like actually in professional sports themselves, so if there was a horse that just got pipped to the post after a grueling four mile slog around Cheltenham, it is probably not a good idea to back that horse to win the Grand National, if it was to run next day.
All sports people need rests to recuperate after a heavy loss and sports bettors do as well.
So, the thing about losing streaks is that they actually present a great opportunity to look back at the bets you were placing, analyze what went wrong or what actually happened, so you can then learn from those mistakes and that will ultimately improve your betting.
It’s a really good idea to actually record all of your bets and as well as that record your state of mind when you place those bets, as well, so what actually convinced you of that value in the market: Was the source of your information actually credible? Or were you just placing bets on a hunch and a gut feeling? Maybe that’s not the best strategy to take as well.
Now, having said that, having looked back at your previous bet, we do recommend that you don’t shy away from a proven strategy, if you see that it does get results in the long run.
Losing streaks will happen, it is a statistical certainty that they will happen, but if you have cracked on to a winning strategy, then we definitely recommend you try and stick to that as much as possible.
Now, if you are employing sound bankroll management then losing runs shouldn’t hurt your overall bankroll by too much. We have talked about that in other videos, they will just mean that your path to profit does take a little bit longer.
And one final tip for you, if you are experiencing a losing streak, it might be a good idea to actually start paper trading.
What we mean by that, is to just place fictional bets using something like a spreadsheet to record all of your fake bets, so you’re not actually risking money on your bets, but you are testing your strategies out.
This might help you see where errors were happening, or mistakes being made and once you get your confidence back, then it’s a good chance to jump back in and start placing real money bets yet again.
But there are a lot of small ways to deal with losing streaks, we’ve got more guides over on sportbetting as well, but feel free to get in touch. How do you deal with losing streaks?
If you’ve ever experienced them. If not, then let us know your secrets to winning as well, but as always we do ask that you gamble responsibly. Thanks a lot for watching, and I’ll speak to soon.
Sports betting is the activity of predicting sports results and placing a wager on the outcome. The frequency of sports bet upon varies by culture, with the vast majority of bets being placed on association football, American football, basketball, baseball, hockey, track cycling, auto racing, mixed martial arts, and boxing at both the amateur and professional levels. (wikipedia)
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