Take advantage of a betting winning streak.
Key Points
– Maximizing a betting winning streak comes down to sound money management.
– Successful bettors do not get too riled up by streaks, whether good or bad.
How to Maximize a Betting Winning Streak
Sports bettors spend a lot of time considering losing streaks. They spend hours trying to prevent them. When a losing streak starts, bettors will try to stop them as soon as possible in an effort to preserve their bankroll.
What many bettors fail to recognize is that winning streaks are just as important. The average bettor is just hoping to have a winning streak. Instead, bettors should be thinking like professional sports bettors. They should be thinking about how to maximize a betting winning streak.
If bettors do not manage a betting winning streak properly, it can do just as much damage as a long losing streak. Winning is, of course, good for the bankroll. The problem lies in how bettors behave when they start winning. That’s what can get them into trouble.
If you’re a sports bettor and you are fortunate enough to be on a betting winning streak, here are three things to keep in mind to maximize your performance.
ICYMI: NFL POSTSEASON BETTING TIPS
Lose the Arrogance
The truth is, you are not nearly as knowledgeable a bettor as you think you are. It can be easy to believe that you are a genius with a unique understanding of a game when you win a few in a row. Lose that attitude right away or you are headed for a big fall.
If you bet long enough and have some degree of competency, you will eventually enjoy a nice win streak. Keep in mind that if you bet long enough you will also experience a big sports betting loss as well as long losing streaks. It’s simply the nature of the beast.
When you win, you should act like you expected to win. When you lose, you should act the same. The best way to describe a bettor’s attitude while in the midst of any streak – winning or losing – is to look at the professional poker player.
The professional poker player goes all-in on a wager and wins five or six figures in a single hand. Most players rarely react in any form. Amateurs will go out of control when they experience a big win or a big loss.
The professional knows that he will win some and lose some. Overall though, he knows that he will win more often than he loses. Therefore, they don’t get overly excited whether they win or lose.
To maximize a betting winning streak, lose the arrogance. Have a long-term perspective on your betting performance. Never get too high or too low with your emotions.
Maintain Your Strategy During Betting Winning Streak
One of the biggest mistakes bettors will make is to change their betting strategy because they are experiencing a number of wins in a row. They will try to go above and beyond what they already do as a result of their success.
This can take many forms. For example, a bettor that primarily wagers on football point spreads now believes that his good fortune applies to moneylines, totals, or even carries over into other sports.
Sure, it is possible to profit from multiple bet types over the long run. However, winning streaks are not the ideal time to diversify your betting strategies.
If you are having success, it means that your sports handicapping strategy is working. You are tuned into what you are doing. Instead of trying to expand and extend yourself at that time, it makes much more sense to keep doing what is working right now.
If you are killing it betting NHL totals, keep betting NHL totals. Maybe you add another game or two if there is value. Remember, your success comes as a result of what you know and do best. It’s not because you have magical abilities or you are some kind of betting genius.
Increase Bets Logically
When a bettor experiences a winning streak, one of the first thoughts is to wager more. Most money management theories suggest that as your betting bankroll grows, you can increase your betting unit size.
The problem with this is when a bettor lets the betting winning streak determine the size of the wager. After having won a huge number of bets in a row, some bettors will feel like they are invincible.
The $50 a game bettor believes that his success affords him the ability to wager $500. They become so confident that they place outrageous wagers that are not within the guidelines of their money management strategy.
Bettors start to see only the results of their betting winning streak. They don’t take into account the impact of a loss. Again, sports bettors can take lessons from casino gamblers. Often, blackjack or roulette players who wager $1 to $5 per bet will increase that stake dramatically after a series of wins.
The $5 bettor experiences a number of wins and becomes overconfident. Eventually, he is betting $25, $50, maybe even $100 per bet. This, of course, is a recipe for disaster. This type of behavior must be avoided at all costs when you are experiencing a betting winning streak.
Just like having strong handicapping strategies, sound money management practices will help bettors weather the downturns and maximize the betting winning streak.