Dealing with Sports Betting Losses

Money Management & Betting Systems

Before you start betting you should approach the hobby sensibly and develop a system or strategy that gives you the best chance of success. You will then need a suitable bankroll that you invest carefully so you can stay in action as long as you wish to bet. You will never find a system that wins every single time you place a bet as this is impossible. Whilst we hope to devise a system that wins in the long run, we must be prepared to deal with short term losing streaks and the effect that has on us.

No-one likes losing money whether it is on a horse race, lottery ticket or board game with your family. Losing is a totally negative feeling that we seek to avoid as much as possible so you may find yourself wanting to quit gambling rather than subject yourself to this negative set of emotions. I have known friends stop playing poker or sports betting even though they have a healthy profit simply because of one bad run. Rather than realize they have an edge the losing hurts so much that they simply give up.

The first response you need to make to a sports betting loss is to assess the status of the loss. It is important to be honest with yourself on a number of ingredients of the bet. Was the bet made within the rules of your bankroll management plan? Was the bet made within your systems selection perimeters? Was it purely a gamble rather than a sensible wager? The feeling of breaking one of these rules, or not having one of these rules in place, will accentuate the negative feelings you will have in response to your loss. This is the benefit of having systems and plans in place. Providing you trust they are profitable in the long run the odd loss will not feel so bad because you are following a plan that works for you.

The negative impact of a loss comes from the deeply set knowledge that gambling for the sake of it is not a profitable experience, particularly in sports betting. It is a fact that most people lose money betting. Your winnings or enjoyment will come from carefully considered participation that is not the feeding of an addiction, but the pursuit of a pastime you participate in sensibly.

If you have had a succession of sports betting losses then perhaps taking a step back and taking a break will do you good. Even if you choose to bet again in the future it may be wise to assess whether you should continue right now in the face of a run of losing bets. There is little use in losing your entire bankroll. If you feel emotion getting the better of you, then it is wise to step away and take a break, there will always be betting opportunities available at a later date. You can take this time to work on your selection strategy and assess whether the bets you lost were from bad luck or bad selections.

You must constantly evaluate your response to wins and losses and proceed with discipline and care when gambling, as we all know the downsides to irresponsible betting. There is no reason why you cannot enjoy sports betting as a part of your entertainment without it becoming a problem providing you follow the guidelines set out in this article. Only you can know if you are doing the right thing in continuing to place bets, so make sure you keep asking the question.

Even the winning sports betting professionals suffer losses now and again, so learning to accept and manage the risk correctly will help you whatever sport you wish to bet on. Your consideration then becomes whether or not the system you use is a winner and there are plenty of resources to help you try and find a winning system to profit from.