10 Tips for Surviving the Betting Slump
Bettors, like athletes, endure bad periods. Sometimes, you have to wait it out and reset. If you are in the middle of a betting slump, check out these 10 survival tips. Plus, which NBA teams are the best “Cover Kings” these days? And, which states are considering lifting sports betting bans?
Bettors, like athletes, endure bad periods—the tipped pass causing a freak score, the strange bounce, the bad call.
Tough breaks blow through budgets like a tornado before they finally subside. One must often wait out the carnage and reset. It’s part of the wagering cycle and, like professional players, gamblers can finesse their rebound path, just as hitters try to cut their swing down and hit one up the middle. Or, football teams try perfecting simple running players to regain rhythm. Betting fits the same philosophy.
Here are some tips for getting out of the betting slump:
- Slow Down. This is especially significant now, during the shoulder season between Super Bowl Mania and March Madness. Unless sports like hockey and college basketball are on your natural radar, don’t enter these waters.
- Don’t Chase. It’s tempting to load up after a losing streak to get it all back. But, this is when losses can mount.
- Learn What You Missed. This applies especially to horse racing, where a change in distance, trainers, workouts or potential racing luck can foreshadow a victory. Go back and note what the missed item was, because it will come up again.
- Respect the Law of Averages. Bad bounces may have affected you. Good ones will come, too.
- Scale Down Bets. This prolongs one’s bankroll until winning (and confidence) returns.
- Keep Doing Your Homework. Opportunities will fit patterns you like when you’ve seen enough games. The prep work remains your competitive edge.
- Don’t Lose Confidence. Your patterns matter. Avoid experts telling you who to play. Instead, assess the data.
- Don’t Take It Personally. The athletes don’t know you.
- Stay Grounded. If picking winners was easy, you wouldn’t have to work.
- Walk Away. Completely, for a while. Return in reset mode and renew your fundamentals. In the end, the person you can most trust…is you.
NBA ‘Cover Kings’
Philadelphia, New York and Brooklyn are way below .500, but rank among the best “Cover Kings” in the NBA. The 76ers were 32-22 versus the spread, the Knicks 30-26 and the Nets were 23-28 entering mid February. Philadelphia and New York have a good string of home games coming up. Watch the numbers on these teams.
In Unity, There Is Strength
Maryland, Michigan, Mississippi, New Jersey and New York seek, via litigation or legislation, to overturn existing law and bring sports betting to their states. We can credit the fantasy world for revealing the hypocrisy of sports leagues obtaining revenue from the betting world, while trying to ban the wagering that would make money for states and casinos. Stay tuned.