Death, taxes and losing in betting are part of life. They can cause tesion and can drive one crazy. So how do we handle them? We will outline some ways to deal with it.
Take a break.
It is said that the first 15 minutes after losing a bet is the most critical point of time..We are being forced to place another bet in order to recoup what we have lost. All rationale points towards that. That is a bad reaction to bad luck and could spell more doom for the gambler. Anyone could fall for it no matter your level of discipline.
The best policy is to avoid time-frames with betting. Don’t have daily targets or amounts to be won in a given period. What you do is analyze the bottom line profit, and loss during the period when trading or betting is not taking place. Only this way, one can actually see where one is making mistakes and restrategize for the future.
A professional sport bettor can be compared to a professional sport person. What does a manager do after an immediate loss especially at the extra minutes mark? Does he play another game the next day? Or does he go home to analyze the game and check his player’s injuries? He knows that his team needs rest and not to go into another intensified match. This same process applies to the sport bettor when dealing with a loss. If the losing streak will make you to make some poor decisions or apply your staking powers inconsistently, please apply a break. Give yourself a break over some days to take some stocks and work out how you have been making those poor selections.
There is no punter that makes money due to rushing to place a bet after a loss. Don’t fail to have a sound staking plan. There is no harm in taking few breaks. Freshen yourself up and get back at it when you are ready.
Of you don’t need someone to tell you to change strategies when it’s no longer working. For example, the most feared gambler in the UK, Patrick Vetch, constantly changed strategies in the battle to stay ahead of the game. He has changed strategies in horse racing betting over the last five or six years.
Be current with the latest technology
The dangers of standing still when it starts getting wrong can be disastrous. You have to be familiar with how technology has impacted betting. Try and understand how value is been perceived and how odds are being drives including other intricacies of the business. Get to know more about betting exchanges and how they operate in your country if any.
Reduce your stake and limit maximum losses.
The best advice from punters during crisis period is to reduce stakes until when confidence returns. If the punter usual stake is N1000, try and reduce it to N200. What usually happens to punters is they increase their bets during losing streaks, trying to recoup losses. It is during this period that the previous hardwork and profits would be thrown away. Getting the stakes right is the hardest part of the business and it’s better to play bigger when things are going smoothly, than to try and smash it big when things aren’t.
Play more carefully to restore confidently
Try and limit the live bets and focus on areas that you are knowledgeable. This is always ignored by most punters. One should admit frailties as this stands
Give up the game completely
This is not what any punter would want to hear. Most times family and friends would say that to you when you tell them about the losing runs. Giving up is not an option now and house wouldn’t want to hear that a game u predicted but never played later won. The search for a better and profitable betting can never end and one must learn to adapt or die in this rapidly changing world.
Understanding losing streaks are realities
No matter how good the bettor is, or incredible his results are, he will surely encounter losing streaks at some time. If you are losing and it’s costing you, there would something wrong with your staking plan or how you are picking your games. Losing streaks will come and go.
Every losing streak presents an opportunity for you to review your staking plan and selection criterion. If one or both are inconsistent. You would need to steer your ship to another direction.
Analyze your betting history
If you keep on the losing streak, then there is something wrong. Go through your spreadsheet closely and you would see where you are getting it wrong. Develop a habit of writing your strategy of each bet. You would find out later of its successes.
Don’t be a coward and get over it. It is not going to last forever as far as you have analyzed where you got it wrong. Pick yourself up, dust yourself and prepare for the next selection. Identify a new sport to get involved with and apply a new brand strategy.