Dealing With Sports Betting Losing Streaks

A lady parts with £20 to a bookmaker at Goodwood racecourse on July 29, 2015 in Chichester, England. Alan Crowhurst/Getty Images

If you wager on sports long enough, you'll have to deal with the inevitable losing streak. It doesn't matter how long you've been betting, or how good of a handicapper you are, there are going to be periods where absolutely nothing goes right.

How bettors deal with these losing streaks will go a long way in determining their eventual success, or failure, in the world of sports betting. Anyone can ride a hot streak, but those who can deal with losing streaks are more likely to be around for the long haul.

If you're broke, you can't bet. It's as simple as that.

Realize That Losing Streaks Will Occur

The first thing sports bettors have to realize is that losing streaks are going to occur. It's not something that is happening only to them. Even those who make their living betting on sports are going to have the 2-10 weekends.

One of the most famous sports bettors around, Steve Fezzik, had a day to forget in the 2014 NCAA Basketball Tournament, going 0-10 on leans that he posted to the Internet. As expected, he took a lot of flak for that effort, but did keep upbeat. Several days later he posted on Twitter, “Some clown posted that I was 0-9 the other day. 100% wrong. I was actually 0-10.”

Keeping one's composure is essential when the losing streaks happen. A flustered gambler is more than likely a losing gambler.

Don't Alter Your Handicapping

One of the initial reactions when things are going well is to start making changes in the way a person handicaps a game, which is a mistake.

If a person has a solid, proven method of handicapping, there is no need to make any adjustments. Things will turn around eventually.

Equate yourself with a professional baseball player. All hitters are going to have slumps during a season. But when a hitter starts changing their stance, altering their swing, and making major changes, that's when a minor slump becomes prolonged.

The best hitters do nothing except possibly choke up on the bat just a fraction and try and make contact, which is what successful sports bettors will do.

Cut Back Your Bet Size

If a sports bettor uses any type of money management system, their bets will inevitably be smaller when a losing streak occurs. If you're not using any type of money management system, you should be. It's the single most important factor in the eventual success, or failure, a sports gambler will have.

Even though a bettor's money management system will gradually reduce the size of their bets during a losing streak, don't hesitate to reduce the size of your bets even more when in a slump. Betting half the recommended bet size, or even less, is perfectly acceptable and can help a bettor ride out the losing streak.

Don't Cut Back Your Number of Games

One piece of advice many people will give sports gamblers in the middle of a cold spell is to cut back on the number of games they bet. I disagree, and would argue for cutting back the size of one's wagers instead.

When a bettor is having a period where things aren't going well and they cut back on the number of games they place a wager on, it's almost a given that they will discard their winners and bet on their losing selections.

If a person selects six games and decides to cut back the number of games they wager on and bet just three of them, it always seems that the three games they bet on will go 1-2, while the three games they discarded will go 2-1. I'm sure plenty of you know about this from experience.

Don't Be Afraid to Take a Day Off

Many bettors feel as though they must be in action every single day there are games scheduled, when many times the best thing is to take a day and get away from the grind. Take your spouse out for dinner, go see a movie, or anything else to get your mind off of sports for a while. It will definitely help recharge your batteries and make things appear less stressful the following day.

Be prepared for losing streaks and realize that all sports bettors will have them. Try to wriggle off the hook with as little damage to your bankroll as possible, and you'll be in good shape once things turn around.

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Your Citation
Moody, Allen. "Dealing With Sports Betting Losing Streaks." ThoughtCo, Oct. 14, 2015, thoughtco.com/dealing-with-sports-betting-losing-streaks-3116432. Moody, Allen. (2015, October 14). Dealing With Sports Betting Losing Streaks. Retrieved from https://www.thoughtco.com/dealing-with-sports-betting-losing-streaks-3116432 Moody, Allen. "Dealing With Sports Betting Losing Streaks." ThoughtCo. https://www.thoughtco.com/dealing-with-sports-betting-losing-streaks-3116432 (accessed November 23, 2017).