Certain things are a given in the world and losing streaks in betting is certainly one of them.
Whether you’re a casual gambler or a professional bettor you’re going to face losing streaks at some point in your betting journey.
Admittedly, this is one of the most difficult situations a bettor can face. No matter what bets you put on, you can’t seem to get a break and end your losing run.
The thing with losing streaks is that they start to impact not only your bank balance but also your confidence. Doubts start popping into your head about your overall betting strategy and whether it’s going to be successful or not.
If you find yourself in this situation, don’t panic. All is not lost!
With the help of this article, you’ll be over your losing streak and placing winning bets in no time.
Let’s get started.
Losing streaks are part of betting
It’s important to understand that losing streaks are part and parcel of any betting strategy just like losing is part of professional sports.
Even the most successful bettors experience losing runs so don’t feel like it’s just you facing this situation.
Once you understand this, it’s easier to put your losing streak into perspective and get back to winning ways more quickly.
Results are out of your control
A common reaction to dealing with a losing streak is second-guessing your past bets. Punters tell themselves that they should have bet on so on and so forth to win.
However, it’s important to bear in mind that the outcome of a fixture or event is completely out of your control. There’s nothing you can do to change the results.
You’re betting on live sport and anything can happen. Nothing ever goes 100% according to plan. Therefore, there’s no point beating yourself up about past bets.
Don’t chase your losses
When things aren’t going well and you’ve lost a lot of money, a common reaction is to chase your losses to rebuild your bank balance quickly. It’s human nature.
However, this often puts you in a worse situation than you started in and you’ll probably end up further in the red.
After several losses, the bookmakers understand that most bettors are at their most vulnerable. They’ll do anything to earn back their lost money.
Don’t be surprised if the bookmakers send you exclusive free bets and promotions. They want to incentivise you to start betting again.
It’s important to ignore these promotions until you’re ready to get back out there.
If you go through a losing streak, don’t double up your stake on your next bet. History shows that you’re more likely to continue losing money.
Take a break
After a losing streak, one of the most simple, yet effective solutions is taking a complete break from your betting.
Give it a week or so and you’ll come back with a clear mind and strategy to get your betting back to winning ways.
Stick to winning betting strategies
After a losing run, you may have second thoughts about certain betting strategies. It’s difficult to return to a strategy which hasn’t been performing well.
However, if your strategy was working for you before the losing streak began it’s certainly worth using it again.
It then takes some careful analysis to ensure that you don’t continue on the losing run. If things don’t pick back up, you should reevaluate your strategy.
Reevaluate your strategy
If you feel that a certain strategy is not worth continuing with, it’s time to change it up and choose a different strategy.
The only way you’re going to find out if certain strategies work is by giving it a go. After which you can do some research and investigate your bets.
Reduce your risk
Last but not least, another option to bear in mind when you get back to betting is reducing your risk. I mentioned this earlier but don’t go all guns blazing on your first wager after a long losing run.
Your confidence may be at a low point and will take some time to rebuild. For that reason, it’s best to stick with low stakes until you’re past your losing streak.
Perhaps you should also stick to certain categories and markets you know a lot about and are confident with.
Getting over a losing streak
Losing streaks are part and parcel of the betting industry and all bettors face them at some point in their journey.
The important thing to remember is not to chase your losses and end up further in the red. Instead, take some time out, reevaluate your betting strategy come back stronger.
You’ll be back to winning ways in no time.