It is a common practice for some people who bet on sports to chase their losing bets until they catch up with the winning streak. The belief behind this practice is that “if I had started betting when my luck was hot, I would still be ahead.” That’s true only in theory; in reality it is very dangerous to follow such a strategy.
“The chase betting system is one of those strategies that has been in existence for a very long time, yet it shouldn’t even be considered a viable option,” says Mr. Ong of WS88, a sports betting singapore-based online casino.
How Does It Work?
The chase betting system simply involves the following: when you place your first bet on a sports event, you will need to make it as small as possible in order that you can then increase your stake over time, until you eventually reach what is known as the “chase” amount. This could be anything from double your original stake to even quadruple it.
Chase betting system is a strategy that you should use as a last resort to win your bet, especially if you are already trailing the game in the middle of play. It means that you will bet more and more until you can win back what you have lost during the game. Thus, there is a high probability that you will spend more than the amount of money that you could have earned had you won your bet from the very beginning.
One example would be if you placed a bet on team A to win and they are currently trailing Team B by 8 points. In this case, you will rely on the power of defense, or turnovers made by team A that will give you the opportunity to make a comeback thus win your bet. But if they were unable to come back then you will commit to the chase betting system by further increasing your bet until it becomes a high risk and high reward gamble.
If you examine this system in detail and logically think through the consequences of continuing with it over time, you’ll only reach one conclusion and that is that it should never be used by any sports bettor.
Why It’s A Bad Strategy
The truth of the matter is if you are using the chase betting system in your betting, then you will find yourself entering into markets which are becoming increasingly expensive as time goes on. This means that even if a system like this could work at first, it’s a system that continually fails over time.
The only people who benefit from this kind of thing are bookmakers and those betting using chase betting systems, as they will be the ones raking in the cash at your expense.
If you know a certain event is already overpriced, then this can lead to you chasing failure by placing your bet at higher odds than necessary because of the chase factor, but it’s also partly down to the fact that all events must occur for a profit to be won.
When you add this into an existing market which has become more expensive, this is when you will really start to notice how the chase betting system can be damaging for your bankroll.
When you are chasing losses, instead of being profitable, you’ll be continually losing money in the long run by chasing losses with a never-ending stream of stakes that are getting more and more expensive as time goes on.
Not only that, but you’ll also find yourself getting enticed by the chase factor which is to raise your stakes with every loss.
This is the one thing all successful sports bettors will be aware of and more importantly, they try their best to avoid it like the plague. They prefer to be ahead on their stakes in order that they can simply sit back and wait to see the result, instead of placing an unnecessary risk on their bankroll by chasing losses with more money.
The chase betting system is nothing more than a risky strategy that will continually keep you losing in the long run while bookmakers make money from it. It’s highly recommended that all sports bettors stay away from this system, as it will only spell untold misery for your bankroll.
Find a good sports betting singapore site that offers enhanced odds and you can lower your risk to profit from the bookmaker. The bookies always have an edge so let them do their work and bet with value instead of chasing bets!