Surviving a Betting Cold Streak
It happens to all of us – one month you’re making money hand over fist, and the next, it’s like a cricket-choir in your wallet. While it can be incredibly disheartening, it comes with the territory. Here are a few tips that will help you survive a cold betting streak.
1. Lower your unit size (now, not later!)
I know this one is going to feel counter-productive, but if you’ve recognized that you’re going through a losing streak, keeping your unit size up on full blast is only going to cost you more money. As soon as you find that sports just isn’t going your way, decrease the amount you’re placing on your wagers – and don’t wait! So many people think that they have to keep their unit size the same for an entire month regardless of the sports betting landscape; this is a lie. I change my unit size the moment I notice a drastic downturn. And hey, it’s not your fault! Loss is all apart of this game, and sometimes, teams and its players are just wildly unpredictable, or are making plays based on long term strategies that have absolutely 0 benefit to our bankrolls.
Save your money and wait until things get hot again.
2. Step away for a few days.
Sports can be incredibly volatile. No matter how much homework you do, how many stats you memorize, or how solid your win streak is, sometimes wins just aren’t in the cards. Anytime I start feeling defeated, I step away from sportsbook for a few days. It gives my brain a chance to reset, and it gives the leagues a few days to mellow out and get the upsets out of its system without my money on the table. Much like lowering your unit size, this will feel counter productive, and the FOMO will kick in (PREPARE YOURSELF!) but trust me, you’re doing the right thing by walking away for a bit.
3. Play lightly during notoriously unforgiving times.
There are two times of year where sports betting is notoriously unforgiving: At the beginning of the season, and towards the end of the season. Season start always means that teams are getting used to new players, figuring out the strengths and weaknesses of their squad, deciphering which plays work and which ones don’t…etc. This can make for some incredibly unpredictable results. I’d say I feel this effect the most in Major League Baseball (MLB) – a relief pitcher finding their stride after the off-season can absolutely tank a bankroll in a single inning (if you’ve been betting on baseball lately, YOU KNOW what I mean…)
Towards the end of the season, teams are getting ready for playoffs. Once they’ve solidified their spots in the post-season, they’re resting their best players to avoid injury for bigger games, which is unfortunately, terrible for your bankroll.
For example: Not only am I likely to lose money by betting on the LA Lakers if LeBron James and Anthony Davis aren’t on the court, but I don’t even WANT to bet on that game if its best players aren’t playing.
I’m not saying don’t bet towards the end of the season, but I am saying that your due diligence process should be extra thorough before you lay the money down. Ie. Make sure the players who bring home the wins are in the game, and care enough to bring back a win!
4. Don’t chase losses (this rule applies always, but especially now…)
It’s extra, extra tempting to chase your losses when games are at their most unpredictable. Losing money is somehow more painful when the team you fully expect to win takes a dive against a terrible opponent. A lot of people’s first instinct is to find the next game and wager what remains of their bankroll to make the previous loss back. Let me tell you, friends: sometimes, when sports goes cold…it goes COLD. Like arctic winter freezing cold. All you’ll do by placing bets on games you haven’t researched on a whim is lose more money.
5. Keep your chin up (this part’s important)
A cold streak can really f*** up your mood, but also your betting confidence. Even the best sports bettors I know go through arctic-like betting temperatures; it happens to all of us at some point. In short: Don’t let it get your spirits down – your win streak will be back before you know it!