Even the best gamblers have off days at the races. But when the losing streak goes on for too long and it seems like you are sinking further and deeper into a quagmire of loss, then it’s time to switch tactics.
No matter how good you are at betting on horses and no matter how solid your handicap, after a season of wins will eventually come to some losses (or a lot). This can happen because your favourite horse suddenly loses its edge or the tables have simply turned against you. But rather than let your losing streak become a permanent fixture that gradually but surely erodes your confidence and finances, you can use any of the ways listed below to break free and regain your winning ways.
1. Put your money only on conservative wagers
If you clearly are having troubles picking a winner and it’s been going on for some time, you need to be smart and avoid superfectas, trifectas, and other exotic wagers. This is because these are low probability bets that will sink you deeper if you lose. Thus, stick to more conservative bets such as win bets until you get your winning mojo back.
2. Reduce the amount on your bets
A losing streak can make you desperate for a big win, but do not give into this temptation. Instead, minimise your losses till you get back on track by cutting back on amounts you wager on a race. The trick is not to think of yourself as a gambler looking for a lucky break, but as an investor who knows when to hold back and when to pay in. This will keep you playing steadily without bankrupting yourself before you can bounce back.
3. Look into your fundamentals
Stop feeling like a pro when you are losing and go back to the basics. Go back to the fundamentals of handicapping and behave like you are a newbie at horse playing. Relearning essentials such as speed figures, pace, class, high percentage trainers/jockey combinations can help you identify where you’ve gone wrong and rediscover your winning streak.
4. Try experimenting with something new
If you are too proud or too lazy to revisit the fundamentals, you could instead try something new. You could attempt learning and applying factors that are novel to you, or play on tracks that you’ve never tried before. By doing this, you’ll get a fresh look at the game which will renew your enthusiasm and might jump-start your winning ways.
5. Be very picky
If you intend on being a horseplayer that wins more than he/she loses, you can’t afford to keep picking horses on a whim. Rather, you have to be very selective. Regardless if you are at the Kentucky Derby or playing elsewhere, it’s strongly advised that you place races only where you have an edge. Also, only place bets where you have a degree of certainty of potentially making a decent profit.
In simple terms, only play races where a majority of factors are operating in your favour. Betting on horses might be a game of luck, but there’s nothing wrong with skewing the odds in your favour by betting on what seems the most likely to win. Also, keep in mind that not all races are playable, so avoid playing every single race on the card. Be patient and selective concerning which races you play. It’s understandable if you’ve lost a lot and are in a hurry to win to cover your losses but patience is important. Patience might be hard to observe if you’ve suffered a string of losses and are hungry for a win, but be guaranteed that it’s worth it.
On a final note, bear in mind that the more exotic a wager is, the higher your chances are of going on a long and expensive losing streak. Thus, stick to win bets at least till you find your footing.
These are just some of the steps you can take to recover from a winning drought. If you love the game, you don’t have to quit just because you are losing. But you must know when to scale back and regroup so you can come back a stronger, better, and smarter player.