How to Beat a Losing Streak
Accept losing streaks and the fact that they’re inevitable
What’s a losing run actually? What’s a losing run for you, may be an ‘accounted for blip’ for another. However, you can never make a good profit strategy work if you think every selection of yours will emerge a winner. Although it’s a very good feeling to be on a winning streak, the truth is that people who’re successful at sports betting in the long-term are the ones who’ve consistently faced losing streaks over thousands of bets and many-many years.
However, there may be something really wrong with your selection criteria or your betting strategy if your losses start costing you big-time and compromising your betting bankroll too. Losing streaks cannot be denied. They’ll come and go from time-to-time. But what matters most is that you make every losing streak count and use it as an opportunity for reviewing your selection process and your betting plan. It’s advisable to simply continue with regular betting and see through the losing streak if both your selection criteria and betting plan have their foundations in a solid betting theory. Alternatively, you may need to make some significant changes if both these are inconsistent and don’t have any sound betting theory behind them.
Go on a break
You must approach the field of professional sports betting the same way as a professional sports person does. It can help you a great deal in overcoming the heartache caused by a losing streak. Please note that losing streaks are inevitable and even the best professional bettors experience them. However, what sets these professionals apart is how they deal with and respond to such losses.
Think of yourself as football manager who has just seen his team losing in the extra time after playing an excellent match. The last thing you’d want to do after having experienced that is to wait for two more minutes and rush into another high-voltage match of the same kind. Both you and the team would need some rest. It’d be better to take some time off to reassess your tactics.
The same principles are applicable to losing runs in sports betting. You should never allow a losing streak to push you into making poor decisions or compromise your betting plan. Just take a break! Take couple of days off and figure out why you’ve been making wrong selections lately. No sports bettor in the world can ever make consistent profits if he doesn’t follow a sound betting plan and/or continues to place ill-researched bets, one after the other.
Review your sports betting history
Please understand that there is something seriously wrong if your betting bankroll stoops down to unacceptable levels after a losing streak. You should go over your spreadsheets and carry out a thorough analysis to understand where you’ve been going wrong. Whatever you do, never ever chase your losses.
A good habit is to add comment related to your approach whenever you’re recording your bets. Did you or did you not stay true to your betting plan? Did you carry out a comprehensive analysis or not? Be honest. Make a note if you didn’t stick to your betting plan, even if you ended up winning that bet. Why? Because you’ll realise later that all such bets cost you money overall. Although some may be winners, majority of them put you in the red.
You cannot ever develop betting discipline and find your way out of losing streaks unless you look at the cold hard facts.
Never act cowardly
Although it may be a little difficult to do, staying resolute at such times can help you see through such losing streaks. As mentioned earlier, losing streaks are inevitable, sometimes even when you’ve a solid betting plan and a sound selection process. So, even if you witness a losing streak despite doing everything right, keep walking the path you’re on. Stay true to your processes. Stay true to your betting plan. Continue making the same selections. You’ll definitely find your way out of the dark if you continue doing everything right. What more, you’ll be a far more confident person when you emerge from such a losing streak.
Agreed that losing streaks are hard-to-handle, especially if it’s the first or second one. You’ll experience a certain amount of self-doubt, making you think of whether your profits so far have all just been a matter of luck. Whether you have it in you to succeed in this industry or no?!
Please remember that the first losing streak is always the hardest. Once you come to terms with the fact that losing streaks are commonplace in this industry, you’ll successfully walk through each one of them and emerge a confident sports bettor. Never allow such streaks to throw you off your guard, pushing you to make unwanted changes.
Never brood over it
Ask any experienced sports better how he managed to sustain his sports betting career despite facing such losing streaks and he’ll tell you the importance of picking yourself up, dusting yourself down and getting ready for the next after any such run.
There is no shame in admitting your losses and realising that you have it in you to become profitable once again. As also emphasised above, take a break and assess where all you may be going wrong. It may be better to stop betting on sports where you’ve never managed consistent gains, and have been continuously haemorrhaging cash.
Indulge in some paper trading if you need to and look at other opportunities out there. Identify new sports you can get involved in or a new strategy you can apply to the same sport. As someone wise suggested, failing to prepare is the same as preparing to fail!