Chase Betting System
JPMorgan Chase & Co's Chief Executive Officer of the Chase Consumer Banking division Thasunda Brown Duckett is leaving America's largest bank to become the head of the retirement provider. You can get all of The Whale's expert picks for free at: The 'Sports Betting Whale' who won tens of millions of dollars. JPMorgan Chase & Co. (NYSE: JPM) ('JPMorgan Chase' or the 'Firm') has filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2020 with the SEC. The report is available on the.
Estimated Read Time: 4 minutesSee All Guides
Chasing betting systems are a controversial tactic in sports betting. Of all the debates over the best staking methods for sports betting, chasing is almost universally criticized.
But is there ever a time when it makes sense to chase your bets?
While most bettors would say no, let’s take a closer look at the chase betting system and see if there’s ever a time to reject common knowledge and chase your bets.
What Is Chasing A Bet?
If you’re not familiar with chase betting, we’re going to elaborate in this section. Chasing a bet is essentially betting for the sake of trying to recover for a loss.
For example, let’s say you had $1,000 that you bet on various Sunday NFL games at 1:00pm ET. As it turns out, you lost them all. That’s quite the risk; with single game NFL odds & spreads a safer betting option for those new to betting that involves less strategy and more facts
As a result, you decide to deposit $2,000 into your sports betting accounts and bet all of that so that you can not only win back your $1,000 but also try and make money on top of that.
In this case, you’re assuming a massive amount of risk in attempt to chase a loss or losing streak.
Why Is Chasing Bets A Bad Strategy?
Many professional bettors are opposed to chasing bets because they are often motivated by emotion rather than opportunity and logic. There’s always that stinging feeling after losing a sports bet and many bettors can’t handle it. Many bettors just want to recover their losses as soon as possible.
This approach is problematic because logic tends to go out the window. If you’re betting $50 per game but then need to recover $200 in losses, you might find yourself wagering $400 to get it back.
That wasn’t the original plan. You’re only doing it now to recover your funds, not because you wanted to place this $400 worth of bets.
Such an approach also brings into question the actual picks: were you planning to bet the second wave of games to begin with or are you merely betting them because you want to recover your money and those are the only games left on the board?
Nba Chase Betting System
Typically, chasing bets includes emotions, large bets and shaky logic. That often leads to even more losses. That’s why so many experts are opposed to it.
What Is A Chase Betting System?
Developing a chase betting system requires following a team or a specific type of bet and simply chasing the bet if it loses.
For example, let’s say you decide to bet on the New England Patriots for the entirety of the regular season, which is 16 games. If you bet $100 on their first game and they win, you bet $100 on their next game.
As long as they keep winning, you keep betting $100 on the game.
However, if they lose, you double up to recover the first loss and win on the second. In other words, if they lose, you’d bet $200 on their next game. If they lose, you double up again until they win again. Then you start again from scratch. We’ll map it out for you in a simple example using a -110 betting line for every game:
Game 1: $100 is bet. You win $91.
Game 2: $100 is bet. You win $91.
Game 3: $100 is bet. You lose $100.
Game 4: $200 is bet. You lose $200.
Game 5: $400 is bet. You lose $400.
Game 6: $800 is bet. You win $727.
Game 7: $100 is bet. You win $91.
At the end of this, the bettor is up $300. It could have been worse but because they chased the losing bet in Game 4, 5 and 6, they recovered the losses and ended up ahead in the end.
The Martingale System and D’Alembert Systems both involve chasing losses, though they do not require you to focus your efforts on a single team or wager type all season long.
What’s the Downside?
The downside to chase betting systems is felt when your team hits a losing streak. Most bettors simply don’t have a big enough bankroll to handle it.
Take the example from above. Our player is betting about $100 per game, meaning they could be risking an $800 bet after just three losses. That’s a fairly unnerving prospect, and for good reason.
What if the team in the example above went on a five or six-game losing streak? Now we’re talking about betting $1,600 or $3,200 on a single game.
Imagine our player is risking $200 per game instead of $100. They’d need $3,200 and $6,400 to chase the bets mentioned above. Sure, if you have endless piles of cash, you should eventually turn out fine but sports can be unpredictable. No one knows for sure when a losing streak will come to an end.
And therein lies the problem with the chase betting system. Most bettors start off thinking “that losing streak can’t go on forever” and start betting against it. However, the Washington Capitals and San Jose Sharks once lost 17 games in a row, the Cleveland Cavaliers once lost 26 in a row, and the Philadelphia Phillies lost 23 in a row.
A lot of bettors try to employ this strategy at the roulette table with red and black, thinking that if you keep betting one color consistently and chasing your bets, you’ll eventually win.
That’s certainly possible, but in reality, there’s no correlation from spin to spin. If you don’t understand why, we strongly suggest you familiarize yourself with the Gambler’s Fallacy.
Avoid All Chase Betting Systems
On the surface, these systems might seem to make sense: bet the same pitcher, bet the same team, bet the same team only when they play at home and keep doubling up to recover your money if they lose.
Don’t be seduced by the simplicity of this approach. Even though we are hard-wired to expect different results from repeated events, reality is very different.
To start, you need a huge bankroll to sustain yourself through losing streaks. Secondly, who knows how long a losing stream can go? You need to have quite the stomach to dedicate yourself to a chase betting system, as you’ll start wagering some really big amounts when you lose three, four, or five times in a row.
You can undoubtedly win money betting on sports, but using this type of “bet it blindly” system is a shortcut that usually doesn’t work out very well for anyone but the sportsbook.
Looking for some reliable strategies based in sound logic? Check out our sports betting strategy section for more.
Making money betting on sports can be tough, but there are a lot of sports bettors who consistently win, and there are even a lot of professional bettors who make a good living off of sports betting. On this page you will find sports betting strategy and tips to help you become one of the winning bettors.
Below I talk about the basic sports betting strategies for beginner bettors, but if you are more experienced you can check out the advanced sports betting strategy articles towards the bottom of this page.
The Basics To Sports Betting Strategy
In order to help yourself make money or a profit from sports betting there are a couple of basic strategies or tips you will want to understand and follow. None of these sports betting strategies are secrets by any means, but following them will help you win money betting on sports.
The bettors who don’t follow any of these strategies are often referred to as “squares” and those are the type of bettors that the sportsbooks will make their profits from.
#1 Money Management/Bankroll Management
When you are betting on sports you should always set aside a certain amount of money, which we refer to as your “bankroll”, in which you can afford to lose. Like with any type of gambling, you never want to bet betting on sports with money you cannot afford to lose. Set aside a certain amount of money that you can use for your bankroll for the week, the month, or the season. A general sports betting strategy for money management is to only make bets with 1%-5% of your bankroll. For example, if your bankroll for the NFL season was $1,000 you would be making $10-$50 bets on each NFL game you wanted to bet on. It is also very important that you do not chase your loses with bigger bets. It is common for some sports bettors to be down money and feel in order to win it back they need to increase the size of their bets. This is putting yourself in the wrong mindset and will often lead to you losing even more money. Work with the size of your bankroll, and look to slowly increase it over the length of the season.
Here’s a video going over Bankroll Management strategies for sports betting:
#2 Bet Sober and Don’t Go on Tilt
Although betting while sober seems like common sense, you’d be surprised how many people bet on sports under the influence. Is it a coincidence that the Las Vegas casinos offer free alcoholic drinks while you are gambling? I don’t think so. I don’t want to sound like your mother here, but betting while under the influence will impair your judgement and should definitely be avoided if you want to become a winning sports bettor.
The second part of this tips is “Don’t Go on Tilt”. Going on tilt or “tilting” is a commonly referred to term with poker players and basically means letting your emotions take over, which often leads to bad decisions. If you are angry or upset at something, such as a couple bad beats with your sports bets, you shouldn’t be placing any more bets. Take a break, go for a walk, get your mind clear before you start making anymore sports betting picks.
#3 Do Your Homework
This is maybe the most important sports betting strategy. You will always want to do your research before placing your bets. Although going with your hunch when betting your favorite sport may work some of the time, in the long run it will not lead to you winning money betting on sports. In order to profit from sports betting you will need to research, study, and do your homework for each pick you make. Look at stats, find trends, create sports betting systems, analyze past games – basically do everything you could possibly do to ensure you have value in your pick before you place your wager.
#4 Line Shopping
A very big step to becoming a winning sports bettor is to make sure you are shopping for the best lines. What this means is that you will have to have an account at a couple of different online sportsbooks and when you are ready to make a bet on a certain team or outcome you check the different sportsbooks and find which book is offering the best line for you (this ties in with our advanced how to find max value article). For example, if you are looking to bet on the New England Patriots on a 7 point spread, you would want to check a couple different sportsbooks to see if any of them are offering the Patriots at 6.5 points, or at the very least find the best price you can get them at 7 points at. Over the course of a sport betting season you can win yourself a lot of money from shopping the lines that would otherwise would not be one. Line shopping is definitely one of the best sports betting strategies used by winning sports bettors. To see a list of sportsbooks we recommend signing up for visit our Online Betting Sites section.
I’ve created a line shopping video and posted it on YouTube (seen below):
#5 Avoid Buying Points
Avoid falling into “square” tendencies such as buying favorites down or underdogs up. For example, some bettors always feel the need to buy an NFL favorite of -3.5 down to -2.5. The sportsbooks are smart enough to charge more juice to do this, mathematically making it a bad strategy. The same goes with buying an NFL underdog from +2.5 to +3.5 for example. In 99% of cases I would advise against it. Check out the video I made below about buying points on NFL underdogs.
Other Sports Betting Strategies and Myths
Above are the four main basic strategies you will want to follow in order to become a winning sports bettor, but there are a couple of other tips you can use to help you win money.
Sports Betting Systems
For one, you can try following a sports handicapper who is using a proven sports betting system. Be careful of scammers out there though. If they don’t show their past records long term plus proof I would pass, and in most cases I wouldn’t be paying for picks at all.
An old sports betting strategy is to bet on home underdogs. The theory is that teams are usually more inspired to play at home, and they will often not fold if they are down like they may when on the road. Betting home dogs in the past could have made you money, but this isn’t true as much anymore. You can read the current betting market article to learn why.
The last tip I have for you is to try and place your bets at the right time. With lines shifting from the time they are posted to the time the game starts, you will want to get your bet in at the time when you are getting the best price. Predicting line movements is extremely hard but it is worth looking into. Check out the video below that I made titled “When To Place Your Bets”.
Advanced Sports Betting Strategy Articles
» How to Place a Bet
» How to Win at Sports Betting
» Sports Betting Math
» Teaser Betting Strategy
» Prop Betting Strategy
» How to Get Max Value When Betting
» Future Betting Strategy
» NFL Bye Week Betting Strategy
» Parlay Betting Strategy
» Pleaser Betting Strategy
» Sweetheart Teaser Betting Strategy
» Current Betting Market
» How to Research Your Bet
» Mistakes You Need to Avoid
» Things Beginners Need to Know
» Win/Loss vs Value