If you have ever done any type of an activity that had a monetary hazard to it, you will know that all betting comes with a certain degree of variance. This betting guide covers how to handle this variance in wins and losses.
No matter how good you are, there will be ups and downs as you bet sports and you will need to learn how to handle this roller coaster if you are to have any real chance of success in this line of business.
The real trick to it is, of course, complete emotional detachment, but that is much easier said than done. While remaining calm and level during upswings is something most people can handle, avoiding the emotional turmoil that comes from experiencing a significant dip in your bankroll can be truly difficult and a devastating experience for many people.
Why Are There So Many Ups And Downs?
I have heard this question asked so often. If you are a professional sports bettor, why is it that you lose so many bets? Shouldn’t you just know who will win? This is the kind of mockery people often resort to when it comes to sports betting.
Yet the truth is that professional bettors don’t KNOW who will win. What we do know is when the odds offered are better than the actual probability of an event happening and we base our bets off of these differences.
When you are out there betting the odds, simple mathematics say that some variance is guaranteed and the ups and downs can’t really be avoided. This is something you have to be aware of if you intend to bet sports for a profession, as adapting to this rollercoaster ride will be crucial to your success.
Handling The Upswing: Stay Focused
Upswings are a great part of sports betting. A short term upswing can take your bankroll up significantly and make you feel like the king of the world. They will strike occasionally depending on how many bets you generally place and when they do, they will feel great.
However, upswings can lead to significant problems for many bettors. Instead of keeping up with the pre-set strategy, many bettors allow themselves to get completely carried away and instead of betting according to the plan, they will start doing some stuff that is not really that smart.
The first and most common mistake is when players start to raise their bets. While it is ok to have a strategy of gradually increasing your bet as your bankroll grows, this is to be done once you are sure what you are winning, for instance after a 3 month or 6 month period. Simply increasing your future bets just because you are running hot can go horribly wrong because upswings are often followed by big downswings as well.
Another trap you can fall into when you are on an upswing is to get too cocky and start placing bets that don’t really make too much sense. Just because you got 4 horse race winners in a row right doesn’t mean you are the god of horse racing, and you should still do your analysis and only bet on those horses that have a better price than they should.
Overall speaking, the trick with upswings is to stay absolutely level. Enjoy your winnings inside and feel proud that you are doing good, but do not deviate from your strategy and your plan. It was set in the first place to keep you winning for a long time and there is no reason to increase your bets so fast.
Handling The Downswing: The Bad Side Of The Rollercoaster
The downswings are certainly the worst side of the emotional rollercoaster that is sports betting. A bad downswing can significantly damage your bankroll, make you feel like you don’t have a clue about the sport you are betting and simply make you want to give up forever.
Of course, this is all just an illusion and just like upswings are a mathematical deviation, so too are the downswings. It is completely normal that at some point you lose 50% of your starting bankroll if you are not betting on an extremely conservative plan.
When this happens, it is again crucial to keep your emotions in check and stick to the initial plan no matter what. Don’t decrease your bets or increase them trying to chase back the losses you have endured. Keep betting with confidence as if your every bet is a winner, because if you are applying the right strategy of finding value, every bet is, in fact, a slight winner.
If you keep this in mind and treat every bet as a small winner instead of some bets as big winners and others as losers, you will develop a mindset where betting will become much more than a hobby and eventually the downswings will be something you shrug off, knowing that the upswing is just as sure to come.
Conclusion : Keep Your Head Clear In Good Time And The Bad
Sports betting is a major rollercoaster, which will put you to the test all the time and you will have to man up if you are to actually win. This means sticking to the plan at all times, during the good and the bad moments.
The upswings and downswings are very natural parts of sports betting and as a sports bettor you will endure dozens of both, with some steady periods of growth or stagnation. Don’t be phased by any of these and make yourself keep a level head at all times, sticking to your betting plan and betting the exact amount you told yourself you would.
A day will come when you will be so used to the rollercoaster you will stop even checking the results all the time and your only real concern will be finding good value bets and analyzing the statistics for your next wager.