How to handle bad runs in sports betting
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Gambling and betting are different, although some people don't know that. The two concepts are confusing because they both involve staking money on outcomes.
Another way the two are similar is that you can suffer a bad streak when doing either. One minute you could be having fun playing your favourite games or betting on a football match, and the next, you are losing multiple bets. A bad run in sports betting can be demoralising.
If you don't know how to deal with it, it could ruin your experience. Every bettor or gambler, even the most experienced, goes through bad streaks. Accepting that is the first step to learning how to come out on top after a negative variance swing.
Wallowing in self-pity or betting while frustrated because things are not going as planned won't help you. In fact, it could lead to more losses.
So, you should know what to do before signing up on your preferred betting site in New Zealand. No single formula can tell you how to get over a bad streak, but a few tactics can ensure you come out of the situation wiser than when you started.
In the same way Adam Parker - Webmaster and Editor of NZCasinoClub.com - can guide you when playing casino games in New Zealand, use the following tips to improve your sports betting.
Define a bad streak
Before worrying about what to do if you hit a losing period when betting, learn how to tell if you are having a bad run. A poor streak is a period when a bettor suffers high volumes of losses. It can be mild with recoverable losses or severe such that its cripples your bankroll.
You won't find a standard limit to categorise a betting round as poor. What might be acceptable losses for one player may be an abysmal streak for another.
Therefore, you must decide what a negative variance means for you. For that, you need to understand your risk tolerance.
How much can you afford to lose? If you can tolerate considerable losses, then five consecutive incorrect selections might not mean much to you.
Conversely, if you plan to spend only $100 and lose two-thirds of that in a row, then that's a bad run.
So, you must evaluate your situation carefully to see how bad it is and then employ the necessary measures to counter it.
Analyse your betting
When you have been betting for a while, and then you begin losing more often than normal, then something is not right.
Many bettors adopt a betting system to help them with their selections.
Whether you bet on tennis, eSports or rugby, you need an effective approach to making bets.
Your system might work for you for a while but may require some adjustments later. A wagering tactic that gets excellent results now might not have the same success after six months.
The reason is that various elements change when betting on sports. For instance, if you are betting on a runner who participates in several events across a short period, their performance will not be the same in the first and last races.
Hence, you must evaluate how you bet. Analysing your sports betting activity lets you see the mistakes you could be making.
You might be too comfortable with a betting system that you forget to examine other variables that could be contributing to your losses.
Stay away from exotic bets
The temptation to experiment with special bets can be high. You might want to choose markets with low probabilities and big payouts to compensate for a negative variance; don't do it.
As interesting as exotic bets can be, they carry too high a risk. Be particularly wary of markets that a sportsbook promotes heavily. Less-popular bets could result in more losses that you may not recover from.
It's not to say all exotic markets are bad. The point is to be cautious about jumping on anything you think will recoup your losses. Research any market you are not familiar with thoroughly before spending money.
Don't forget bankroll management
Just because you are on a bad streak doesn't mean your money management strategy goes out the window. You had that plan in the first place to get a handle on your betting.
Thus, a poor run shouldn't be an excuse to dip into your miscellaneous funds to top up your gambling or sports betting budget.
The bankroll strategy you established should remain intact throughout your betting session, despite how severe the losses get.
Be especially keen not to increase the volume of your bets. A bad run can test you psychologically, and you should resist the urge to make big decisions.
Maintain discipline
Don't base your decisions on a losing streak. A bad run can be frustrating, and those feelings can lead to mistakes.
When you see your picks losing one after another, you may rush to do something to correct the situation, inadvertently making things worse.
For example, you might bet too high or too low and throw your entire betting system off balance. Try to keep the discipline you had when starting.
Admittedly, you might consider decreasing your stakes to reduce losses, but it shouldn't be drastic. Losses can hit you twice as hard as wins.
So, be careful not to respond emotionally. If you are having a difficult time with discipline, then take a break. Time away can help you regain your objectivity.
Remember that gambling and sports betting might not always be right for you. If you believe that betting is getting out of hand, then stop immediately, if you can, and contact a support organisation.
Most New Zealand betting websites have responsible play resources you can turn to.
Don't let bad streaks destroy your sports betting experience or be the reason you never bet again. Arm yourself with a few strategies to guide your actions when things don't go your way.
