5 Tips on How to Handle a Losing Streak in Horse Racing
One of the best ways to enjoy horse racing is betting. But let’s admit it, though, that most of the people who watch horse racing are only watching it to bet. There’s nothing wrong with that, as it’s just the norm. But while betting on horse racing is fun and exciting, sometimes, the odds aren’t just in your favor.
Not only that but there are moments when we’re so down in our luck that we experience a losing streak. Of course, it can be a frustrating experience. But then again, it’s normal, even for professional bettors, to experience a losing streak once in a while. With losing streaks being fairly common in betting, how you handle it is what’s more important.
Some people, when on a losing streak, make irrational decisions that make the losing streak much worse. They make unjustified bets, don’t think about anything, and even chase their losses, which can hurt their bankroll. So, how do you exactly handle a losing streak in horse racing betting? Here are some tips you might want to know.
Take a Short Break
Sometimes, the best way to handle a losing streak is to back off and move on. Don’t keep on betting, hoping you’ll magically get your money back. And most importantly, don’t ever chase.
While some call chasing a viable strategy, it does more harm than good. Just imagine you losing quite a huge bet. And then you get so hung up on it that you double the same bet the next time. You might get back your losses if you win, but you’ll lose a lot if you lose.
Take a short break. Back off and study the mistakes you made during that bet. Reflect on your actions and, most importantly, get a hold of your emotions. Remember, while getting emotional when you’re on a losing streak is normal, things will be much worse if you let it control you.
Reduce Your Betting Amounts
If you want to chase losses, here’s an alternative that might help you instead. Chasing losses means betting double on your next bet to get back the losses of your previous one. This is dangerous, so what should you do? The exact opposite!
Reducing your betting amounts will minimize your losses if you end up on a longer losing streak. Sure, it might be a small amount if you win but remember, slow and steady is the tortoise who won the race.
Analyze Your Betting History
If you’re on a losing streak that results in you almost drying up your bankroll, then something is wrong. It might be lady luck messing with you right now, but sometimes, it’s your fault why you’re on a losing streak. If you think this is the case, the first thing that you should do is analyze your betting history.
Go through your betting record and see what you’re doing wrong. Are you sticking to your betting plan? Are you using your strategies? Are you hung up on some expert’s advice too much? If you ever made mistakes in your betting history, make sure to take note of them and remember them in your next betting session when you’re trying for luck in next year’s Pegasus World Cup with TVG Pegasus picks and odds.
Have a Professional Outlook
Always be reminded that even professionals and veteran bettors experience a losing streak once in a while. But do you ever ask how they can recover so quickly? This is because they have a professional mindset. Since they have a reputation to maintain, especially professionals since a lot of people are looking to them for tips and advice, they are keener on understanding where they went wrong, studying more strategies for horse betting, maintaining a positive outlook, and knowing when to stop.
If they get too emotional, especially on losing, no one will take them seriously anymore. That said, you should also do the same. Be mindful of how you act during a losing streak, try to understand your mistakes, accept that you lost, and be brave enough to move on and try another day. Remember, losing your composure would make things much worse.
Get Over It
As mentioned before, sometimes, the best way to handle a losing streak is to get over it. Often, people would get so emotional during a losing streak that they lose their rational minds and chase their losses, which is obviously not a good idea. People also get so depressed that they don’t want to try horse racing betting again. While, in some instances, quitting might be a good idea, quitting has no place in horse racing betting. Remember, horse racing is not a quitter’s sport.
Being on a losing streak is normal. Even veterans and professional bettors experience them once in a while. But that’s not what’s important. What’s more important is how you handle a losing streak. Handle it well enough, then you might get back your losses the next time, but if you handle it poorly, your losing streak will get even worse.