Chasing Sports Bets And Losses
In sports betting, a lot of times you hear the phrase: “don’t go chasing your bets”. The rookies at sports betting online may not know what this is, but the sharps sure do. This is a very important rule for those punters that make sports betting a profession. So what is chasing bets?
Best Online Sports Betting Sites
Chasing bets at top rated sports betting sites is putting money on action that is not typically going to win. In chase betting, if you do find a way to win the action, you may not have to win as many games as you would just betting straight odds.
Examples Of Chasing Bets At Sports Betting Sites
So let’s say we have a series between the Washington Nationals and the New York Yankees. The Nationals are the huge underdog in all three games, due to the fact they are the lesser of the teams. In chasing sports bets, we are looking for one win in the series. So let’s say we bet $100 on the Nationals for the first game. The odds are at +165, so a win for Washington would net us an additional $165.
If they win in game one, the chase is over, and we are winners. If they lose game one, and we bet $100 on game two at +165 odds, if the Nationals win, we take our $65 profit and move on. Where things really get interesting is when your team loses the first two games. Now you want to put $200 on the gamer, to “chase” back what you lost.
Let’s say the sports betting odds stay the same and are at +165. If you win this third game, you win $330, which would give you the $130 profit for the series. Of course, if Washington loses, and gets swept there goes $400 on a bad baseball team.
Another form of chasing bets at online sports betting sites is by just “chasing your money back”. Let’s say you are watching some college football on a Saturday. You really liked a certain team at the 11am game. You placed $50 on the game, because you were pretty confident. That team did not cover the game, and you lost.
Now the 2:30 games arrive and instead of staying disciplined, you find a game that looks like could win, but absolutely don’t love and do not have an advantage over the book on. You place $100 on it, because you want to win your money back for the first loss.
As can happen a lot, your sports bet loses, and now you are down $150. Well, now the late games come, and you find another game, and you find another game you “like”, but don’t “love” or see an advantage in playing. You are itching for a win, and want to win some of your money back (first indication there is a problem).
You decide to get your $150 back plus a profit and you wager $250 on the game. If you hadn’t lost the other games, you would never dream of putting that much money on Utah to cover the 7.5 point spread at Boise State Saturday night. Regardless of how you fare on Saturday night, you certainly “chased your bets” all day long. This is a sure fire way to losing your entire online betting bankroll on games you don't have an advantage to play.
More About Chasing Losses On Sports Bets
While there are occasions where you can win your money back when “chasing bets”. But over a long period of time, if your goal is to stay successful at sports betting sites and make a profit out of it, chasing losses and missed bets is not a good idea. A good idea is to make all your bets at the start of a big day and let them go. Checking them constantly is not going to help, and especially making more wagers after a result won’t help.