How to deal with gambling loss like a pro?

If you are gambling then loss or set backs is going to happen sooner or later, the best chance you have against it is to come up with a strong loss management system to deal with that.

What I see that most commonly newbies and even veterans make is that they think they are too smart. Once you are in this mindset loss is inevitable.

You can never outsmart the system that has seen more outcomes than you plus with an additional edge over you know as the house edge where every win you give a small portion of it.

Here is what you can do to deal with the gambling loss or set backs like a pro:

1) Play Reasonably:

The odds are not always in your favour. You can get away sometimes by playing risky but its not going to last long so best play reasonably with a strategy that gives you profit at a reasonable rate. Know the risk involved and try your best to minimise it.

If you think that an outcome is impossible, then do not even think of betting. Like going all in on 10X payout on first bet.

Play safe do not risk a large portion of your bankroll on a single bet like the high rollers. Believe me they can bring in more than double the amount they loss and recover, you can't so act reasonably.

2) Set Max Loss to be at 1-2 Days Profit:

If you are not making more than what you are losing you will end up with zero balance soon. So make this compulsory if you loss 1-2 Days Profit on a session just stop betting come again another time once you have finally dealt with your losses.

Avoid unnecessary recovery bets, if you bust the remaining its going to be a hard road ahead.

If you do not know how much you can make daily figure it out and work out your risk accordingly. Start slow if you need to first.

3) Take Reasonable Profits:

The biggest problem is that we think we can go from 1$ to 100$ and even some 1000$. I am not saying its impossible its possible you can reach there eventually but its not by doing a sprint but a marathon.

Set reasonable profit goal, it's ideal to set 10-20% of your initial funds as your profit goal. You can do more but it will come with more hurdles and there is chance of loss of your funds.

4) Put a Stop Limit:

The most important of all if you are betting continuously. A long loss streak do come eventually the only way to save yourself is stop betting no other way around.

5) Draw a line between fun and profits:

Gambling is boring if you only think of profits but if you mix fun and profit, you will have a hard time with both. Best is do some reasonable bets take a healthy profit first and then take a part of it & do the risky bets for entertainment from the profits. Win or loss won't matter at this point.

This how you keep both sides happy. If you do it only for fun it won't last long as eventually you will run out of funds to keep it going and if you only do for profits it does get monotonous after sometime.

6) A Strict Bank Roll Management:

If you only do this too profit will be yours. Do not let your loss get big and eat up on your future potential earnings. Risk only about 20% of your initial balance. If you loss it come back another time and earn again.

I have long understood that losing always comes with the territory when you wander into the gambling business, just as getting crippled for life is an acceptable risk in the linebacker business. They both are extremely violent sports, and pain is part of the bargain. Buy the ticket, take the ride. - Hunter S. Thompson