How to handle a losing streak

[dav4463]

I am 0 for my last 17 bets. How do I handle this ? My solution is to download tomorrow's pp's and just keep going knowing (hoping) that the losing streak ends. How do you other guys out there handle those inevitable losing streaks ?

[Dick Schmidt]

Dav,

Keep records. When you lose 17, or 30 or whatever in a row, look back and see how many times this has happened in the past. Look and see how it worked out for the month. Streaks are a phenomena that happen in any gambling activity, both win and loss. If you can look back at all the bets you've made in the past two years and see that time after time the streaks ended and things worked out, then they won't much bother you.

Of course, I'm assuming you're a winning player. If not, there is no salvation for you. Quit playing until you are showing a consistent paper profit. Without records, we have no course to steer by.

Dick


"No wife can endure a gambling husband, unless he is a steady winner." ~Thomas Robert Dewar

[cj]

Hey,

That quote looks familiar!



Craig

Who notices when other people use the same quote he does.

[Zman179]

0 for 17?!?!? HAHAHAHAHA, that's not a losing streak, that's just a hiccup. I've gone periods of two weeks and more without cashing a single ticket.

Best thing to do is to take a break for 4 or 5 days and come back. Take care of some errands that you've been putting off, go to the beach for a day, take your "significant other" out an extra time or two, anything other than ponies. And when you do come back, sharply cut back your betting amounts (about half of what you usually play) until you feel yourself warming up and your confidence returns. Or do what I do and go to the racetrack and stick to the live races and forget the simulcasts. That tends to break me out of a streak.

Good luck on breaking out. And when you get back on a winning streak, put aside a deuce for me

[eclecticapper]

One thing I recommend is reviewing charts and/or replays for each and every race you bet, rather than just adding up wins and losses. Was the race run the way you expected? If your 6-1 shot gets beat by the 6-5 favorite, I don't think that's cause for concern. Anyone who uses a value approach will likely find periods where the overlays just plain get beat by underlays. If your selections stay in the rear half of the field all the way around the track on a regular basis, then you have a problem.

[headhawg]

dav4463,

Been there.

I posted a similar topic a couple of months ago so do a search. There was some good advice in that thread as there is in this one.

I would be concerned if you are a "chalk" player. Whatever you are doing needs to be changed, or you should take a break, and reevaluate your method(s). If you are looking for longer priced horses then 0/17 is no big deal!

The advice given to me was that if I am confident in what I'm doing then I should just play through it and not play "scared". I use to back off when I got cold, and then, of course, the inevitable would happen -- the price horses that I would have played would win and I wouldn't have a nickel on them. NO MORE! I keep playing and you know what? That is working for me.

So.. be smart, make good bets, and I'll see you in the short line.

HH

[Valuist]

Get more selective and make no more than 3 wagers your next day of betting horses. Go to a track or OTB, place your bets and leave without watching the races. Do NOT bet online. The temptation to make too many plays is too easy online. Don't look at the results until the day of racing is over. I find the temptation to "get out" for a day is pretty strong but I never try to get back a previous days losses. Hope this helps.

Unless you're playing a lot of favorites, I don't think 17 in a row is that uncommon. Just check newspaper handicappers. There's plenty of times they'll go winless 2 days in a row.

[levinmpa]

I remember walking into a racebook one day and asking the "regulars" how they were doing. One guy says I've lost 26 straight photos. My reply to him was, "and you're still playing?"

I think that different people handle negative streaks differently. If it were me, whether it was a bad streak of losing photos or 20 consecutive losing races, I would take a step back. Take a day or 2 off and do something that will take your mind off the situation. Perhaps you're someone that has handled losing streaks well and can get through it doing your normal routine. What you can't do is "reach" for winners, making wagers that you normally wouldn't make, just to end the streak. This is a path that has ruined many a good horseplayer. Be very careful. You know yourself better than anyone. Remember that things tend to even out over the long term.

Good luck.

[timtam]

I've been reading how some guys lose 17-25 bets in a row. How do you handle this by way of wagering. If you flat bet even $10 to win your down $270 and would have to hit quite a few just to get that back. I always thought the only way to wager is the old due column wagering. One hit and your in the black but I've been told countless times on this board that due column is suicidal. So when your in a long losing streak how do you recoup your losses and play again. A walk on the beach is fine but your still down $270 when you come back. I really have no answer but its a question that has been bothering me for the 20+ years I've been playing.

[Valuist]

You always hear how the "money due" works in theory but it doesn't take human psychology into account. Imagine doubling up after every loss, or even going 1.5 times higher after every loss. You never know when the streak ends; the amount risked can get to be staggering. Its not worth it.

Exotic wagering is a better way to get out of a slump. You can risk small amounts and a nice hit will get you out.

[pmd62ndst]

Since Tuesday, been on a 1-38 slump. Made up for a spectacular weekend where I went 16-83 (19.3%).

It all just seems to work out in the end. I just try to grind through the rough times because I think about all the lucky streaks that I could be missing.

PMD

[dav4463]

Thanks for all the advice. I do keep records, but this particular losing streak really got me. Last night, I wasn't even close ! Horses that looked great to me didn't even hit the board or even run a decent race ! Three or four days in a row like that starts to shake the confidence ! I used to change my handicapping style every time I had a losing day...at least I don't do that anymore !

[InsideThePylons-MW]

Originally posted by Valuist
Go to a track or OTB, place your bets and leave without watching the races.

[JackS]

I believe it was Cramer or Meadows who ran probilities on 2/1 favorites. 18 losses in a row are an eventual probility. This is of course over hundreds of runs using a computer to prove out this theory. 17 losses in a row with horses at various odds averaging something above 2/1 sounds like this may be a very normal, although rare occurance.

[kenwoodallpromos]

Since you did not say how you cap or bet, I looked at some of your old posts.
Within the last week, what track, race, and # of horse did you bet? what did you like in the horse's recoed?
Maybe you throw oujt horses based on too few factors.
Try writing unser the purse what price you think the horse is a contender, and how fast it has to run the first 6f to win the current race. Then you can see if the record, competition, and post position gives it a real shot.
If that does not work, check BM for a very small field and bet every horse in the race. LOL.