Submitted by rsteel on
Get comfortable being uncomfortable. One of the hardest aspects of betting sports is dealing with variance. I know most of you have heard this before BUT to emphasize no matter how sharp how good you are at this craft there will inevitably be bad stretches over an extended sample size reminding you to stay humble and adhere to proper money management.
Good bets sometimes lose bad bets sometimes win due to late game variance. The pain you feel when you lose is always greater than the joy you feel when you win. Why? Because the bad beats do not even out! Because when you place a bet you should always expect to win! Otherwise obviously why place the bet on a coin flip.
Sharp bettors way more times than not when they win is a result of solid handicapping. Sharp bettors when they lose again more times than not is because of in game variance bad luck that simply could not be handicapped. This is exactly why bad beats do not even out. Remember luck is temporary skill is not.
However there is a positive. Every time you lose a bet it creates an opportunity to learn. It could be about a player, coach, team, market entry, money management etc. So use the loss to make yourself better rather than chasing going on tilt or playing the blame game. We have all by now heard the phrase trust the process and it is appropriate in sports betting as well. In other words bet the process and do your best not to let short term fluctuations in your bankroll up or down impact your handicapping.