The life of a gambler requires taking risks and wagers. There are times where a player wins, and when a gambler loses. One of the most entertaining gambling activities that you can engage in is online sports betting. And like any other form of gambling, there is a chance that you may have a hot hand every time you place a wager.
Maybe you’re not a gambler, but you probably have a grasp of the concept of a “hot hand” or a lucky streak. A hot streak means that you win every bet consecutively. Winning streaks can be an excellent way to develop confidence. However, you may wonder if winning streaks are true or are they happening only because of luck.
On the other hand, losing streaks can also happen. Here are some facts about stripes and how they can affect your chances as an online sports bettor.
Studies about gambling streaks
A study with 76 participants from Europe and the United States revealed that a gambler has a chance of winning or losing 48 percent of the time (draws presumably account for the remaining 4 percent). After a single winning bid, there is a one percent increase in your chances of winning the next wager.
The interesting part of this study is that there is a higher chance that you will win the bet after you won the previous one. What’s more fascinating about this is that after having a four-bet winning streak, there is a 72% chance that you will win your fifth one. The problem with this chance is people think they will lose so they bet safer.
The luck wears out
The study also has concluded that losses can breed more failures. After losing twice, the chance of winning is heavily decreased to 43%, and every time you lose, it adds a 20-30% chance that you will lose your next wager. This phenomenon happens because people bet more each time to make up for their last loss. However, this rarely happens.
What should I do then?
The best thing to do before placing a wager on a sports team is to research past games, injuries, and win-loss records to know your chances of winning the bet. If you ever win this wager, you can repeat the same pattern and place a slightly higher wager because, as we have said, there is a higher chance that you can win.
And once you lose your bet, you may want to slowly wage smaller or completely stop betting from a brief moment to prevent further losses. Winning streaks might be true, but this does not mean that you have to go all-in as one potential loss can hinder everything in sight. You should also know your bet.
More than betting, you should also look for a reliable sportsbook each time that you plan on betting on your favorite sports team. If you want to start your online sports betting journey, you can always go to www.chezacash.com.