Commonly, when a sports bettor finds himself on a losing streak, he tends to bet more than usual to “recoup” the 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, 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 contrast, quitting showed less activity in the same areas but more activity in areas associated with 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, as a human being, there’s no way you can totally wipe out your loss-chasing tendencies.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 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. Picking bets (value, analytics, situational, etc.)
As soon as those details are all set, you can focus on the following rules to help you avoid chasing inevitable losses:
1. Never increase your unit size simply because you had recent losses.
2. Don’t bet unplanned.
3. Whether you win or lose, take a break after each bet.
4. Don’t bet drunk or when you’re dealing with any kind of stress.
5.Treat each bet separately from others.
6. Don’t get score alerts if you no live bet strategy.
Most of the the said rules are connected in some ways, but by reading them separately, you can have different perceptions of your emotions and general betting habits. Thus, you will also have a better understanding of each of the factors involved, as well as 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.