Top Ten Betting Mistakes - 3) Chasing Losses
3) Chasing Losses
Chasing losses at first sight may appear to be an easy way to guarantee an eventual profit but the true story is it is a game for fools and statistically will not work unless you generate an overall level stakes profit. Chasing losses is a game for the illinformed who do not want to make the effort to seek value in their bets. Bookmakers have to price up every race. Punters don't have to play in every race, they can pick the races they want to bet in ,and that is the main edge that people fail to understand. If you have had a losing day, by attempting to chasing your losses you give up that advantage and bet in the races that you should not be betting in. You are therefore betting the way bookmakers want you to and not in the way to win. Many punters will alter their stakes in the last race either to "chase" losses or "play up" winnings. Its no coincidence that the bookmakers have ensured that the last race on each day is often a handicap or one of the hardest races that day . There will be more racing the next day and the day after that. The secret is waiting for opportunities and only betting when you know you havecircumstances which favour you and not the bookmakers. You must never change your approach, or deviate from sensible staking as there is no such things as "The Last Race".
Labels: Betting Quotes