How to Be a Smart Sports Bettor by Not Chasing Losses
In many cases, when a sports bettor gets on a losing streak, he only bets more than usual to “back back” the money he lost. This is referred to as chasing losses, which only ends up in more losses, and then the chasing begins again and the losses too, etc.This is called chasing losses, which leads to even more losses, more chasing, more losses, etc.This is what we call chasing losses, which only brings more losses and then more chasing and so on.
This phenomenon is as real as sports itself.In fact, there have been many scientific studies conducted on it the world the world over.Among the most popular inquiries on chasing losses was done at the Department of Experimental Psychology at University of Oxford in the UK, where they found that chasing losses had something to do with increased activity in sections of the brain that were associated with reward expectation and incentive-motivation.
In an opposite effect, quitting was related to less activity in these very areas but more activity in those that handled conflict monitoring and anxiety. In simple terms, participants who chased their loses focused solely on the good result; and conversely, the bad result when they finally made a decision to quit.
Of course, because you’re human, there’s no way to totally eliminate your tendency to chase a loss.But there’s a way to plan ahead to control it and avoid responding negatively to the situation.
So what type of plan do you need to avoid chasing losses?Just decide on the four below and follow through:
1. Money you can afford to lose
2. Unit size (about 1-5% of number 1)
3. Sport(s) you want to bet on
4. Choosing bets (analytics, value, etc.4. Picking bets (situational, tailing trusted cappers, etc.)
As soon as those details are all set, you can focus on the following rules to help you avoid chasing inevitable losses:
1. Don’t increase your unit size just because you’ve been losing recently.
2. Don’t make unplanned bets.
3. Win or lose, take a cooling break after every bet.
4. Don’t bet when you’re intoxicated or under any kind of stress.
5.Treat each bet separately from others.
6. Get score alerts only if you have a live bet strategy.
The above-mentioned rules are related in certain ways, but when you read them separately, you can get varying perceptions of your emotions as well as you betting tendencies. This also gives you a better understanding of the individual factors, and of their totality. Awareness is the secret, and the ability to identify these scenarios will help you avoid chasing. If you bet in a state of fear, resentment, or a feeling that you will get bad luck, it is automatically a bad bet, whether it wins or loses. It’s acceptable and just normal that you feel like this, but it’s important that you can identify it, build a way to manage it, and stop betting until you’re feeling better.