How to Avoid Chasing Losses When Sports Betting
Usually, when a sports bettor realizes he’s on a losing streak, he may bet more than usual to “recover” whatever money 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 actually more real than you’ll ever think.In fact, scientific research has even been conducted on it in various places around the world.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. Simply put, subjects who chased mostly focused on the good outcome; and conversely, the bad outcome when they finally decided to quit.
Of course, because you’re human, there’s no way to totally eliminate your tendency to chase a loss.However, there’s a way to plan for it and control it, thus lowering your chances of reacting in a negative manner.
So what type of plan do you need to avoid chasing losses?Just decide on four things:
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.)
When you’re all set with those details, you can add these rules on how to handle the unavoidable losing streak without chasing:
1. Don’t up your unit size because of losses you recently had.
2. Don’t make a bet you weren’t planning on earlier.
3. Have a cooling period following each bet, win or lose.
4. Don’t bet when you’re intoxicated or under any kind of stress.
5. Treat every bet independent of earlier bets.
6. Don’t get score alerts if you no live bet strategy.
Most of above rules are closely related but by reading them separately gives you different views of your emotions and your betting tendencies in general. This also helps you gain a better understanding of the factors individually, and in their general context. 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.