No one wants to lose money in a bet. Those who have lost cash can attest to this fact. Here is what you must do start winning.
Even the best bettors lose at times
The reality is that even successful bettors, those who have shown the ability of a number of years and thousands of bets, will hit a losing streak at some stage.
But remember that losing runs will come and go. But every losing run is a good opportunity for you to review both your staking plan and bet selection process.
Take a break
Even the best pro bettors go through losing streaks, but it’s the way they deal with their losses that sets them apart from consistent losers. If you feel the losing streak is going to lead you to make poor decisions or apply your staking plan inconsistently, simply take a break.
Give yourself a couple of days to take stock and work out why you’ve been making the wrong selections.
Analyse your betting history
If you go on a long losing run, resulting in your betting bank dropping to unacceptable levels, then there’s something seriously wrong. Never, ever chase losses.
Go through your spreadsheets of shame and if you look close enough you’ll see where you’ve gone wrong.
Don’t be a coward
This may sound a little harsh, but standing tall and resolute will help you work through a losing streak. As we stated earlier, losing streaks will happen, even when you apply a sound staking plan and bet selection process.
So when a losing streak comes, if you’re doing things right, keep doing them. Keep to your processes. Keep making your selections. If you are doing things right, you will work through your losing streak and come out the other end with greater confidence.
Yes, losing streaks are difficult, especially your first or second prolonged losing streak. You will feel great self-doubt, worrying that your good results have just been luck and that maybe you are not going to be the long term profitable punter that you hoped to be.
But take it from us, your first losing streak will be the hardest. Once you realise that losing streaks are common, and that you will work through each one by sticking to sound betting theory, your confidence as a bettor will grow and grow.
Get over it!
Pick yourself up, dust yourself down and prepare more thoroughly for your next selection.
The bottom line is that there’s no shame in admitting to yourself that you can’t turn a regular profit at a particular sport and calling it a day, or at the very least taking a break while you assess why and where you went wrong.