If you’re a seasoned sports bettor, you know the old adage, that if you chase your losses, you’ll lose your shirt and most likely bust your bankroll. It’s time to throw all that nonsense out the window and learn for the first time that chasing your losses is the best case scenario. To make money using a chase betting system, you need three items at your disposal:
1. One hundred funds (or account balance)
2. plan
3. A strong stomach to carry out the plan
The old adage goes that: he who chases his losses will burn his funds. This is true only if you don’t have a real plan, a strong stomach and a decent bankroll. Let me explain. The old adage comes from the player betting $100 on Team 1 to win today. Team 1 loses, so tomorrow the player bets $200 on team 2 to win (he thinks he can’t lose twice in a row and team 2 is a sure thing). Team 2 loses, then on day 3 they bet their remaining funds on team 3, lose, and within three days their funds go bust. The old adage is true, for this player…not for you.
You will see that a chase system uses simple math to ensure that you never lose money. However, you have to make sure that you bet the correct amount and you have to have the guts to go through with this program. The system is easy to follow no matter what sport you are betting on and whether you are chasing a specific team or a sport in general. In 2007, AFSB completed a study of the chase system in the NHL focusing on the Montreal Canadiens. The system worked like this: on day 1, $25.00 was bet on Montreal, if Montreal lost, the next time Montreal played, $50.00 was bet on Montreal, if Montreal lost again, and on the next game $100 was bet, 00 to Montreal, if Montreal lost that game, then $200.00 was wagered on Montreal and so on until Montreal wins or runs out of money. Once Montreal wins the system resets and the next time Montreal won $25 was bet on Montreal on their next game, if they lost then on the next game $50 was bet on Montreal, however if they won then on the next game game $25 was bet. Bet on Montreal.
This simple system made us win $1,210.00 in the NBA Playoffs in 2007 (see our absolutely free sports betting article regarding the NBA dog chasing system). We used this system again in the 2008 MLB playoffs and got $1,373.00.
In the 2010 NCAA basketball season we are using this system in a more generic way. We are playing a Dog-Chase and a Favorite-Chase that is not team-specific. Click our Free Picks link to see the details of the 2010 NCAA Basketball Chase System hard at work.
To ensure your bankroll doesn’t go broke, we recommend that you only wager 1/4 of the normal amount you play per game. For example, if you bet $100 per game, then under a chase system, you only have to bet $25.00 per game. This is why:
The chase system is based on the premise that you shouldn’t be able to wrongly cripple a game for seven days straight. If you are betting $100.00 per event in a chase system and you are wrong 7 times in a row, then you are betting $6,400.00 on the 7th game ($100, $200, $400, $800, $1,600, $3,200, $6,400). To protect yourself, you must bet 1/4 of the normal amount; In our examples, we assume that 1/4 would be $25.00 per event ($25, $50, $100, $200, $400, $800, and $1,600).
Let’s examine the power of the Chase system. Let’s look at a player who bets on 14 games (1 per day, over a 14 day period) and this player doesn’t do that well, winning 6 and losing 8. Example 1 below shows if you simply bet $100.00 per game on a normal price. -110 per game. Example 2 shows the same player with the same results, however he bets $25.00 on a Chase system.
Example 1 – Sports bettor who wins 6 bets and loses 8
wagering $100.00 per game, one game per day
Game 1: Winner, $91.00
Game 2: Winner, $91.00
Game 3: Loss -$100.00
Game 4: Loss -$100.00
Game 5: Loss -$100.00
Game 6: Winner $91.00
Game 7: Loss -$100.00
Game 8: Loss -$100.00
Game 9: Winner $91.00
Game 10: Loss -$100.00
Game 11: Winner $91.00
Game 12: Loss -$100.00
Game 13: Loss -$100.00
Game 14: Winner $91.00
This player is 6-8 and lost $254.00 over a two week period.
Example 2 – Sports bettor who wins 6 bets and loses 8
wagering $25.00 per game (with chase rules), one game per day
Game 1: You bet 25 and win $23.00, so in the next game:
Game 2: You bet 25 and win $23.00, so in the next game:
Game 3: You bet 25 and lose -$25.00, so in the next game:
Game 4: 50 is bet and lose -$50.00, so in the next game:
Game 5: You bet $100 and lose -$100.00, so in the next game:
Game 6: Bet $200 and win +$182.00, so in the next game:
Game 7: Bet $25 and lose -$25.00, so next game:
Game 8: You bet $50 and lose -$50.00, so in the next game:
Game 9: You bet $100 and win $91.00, so in the next game:
Game 10: You bet $25 and lose -$25.00, so in the next game:
Game 11: You bet $50 and win $45.00, so in the next game:
Game 12: You bet $25 and lose -$25.00, so in the next game:
Game 13: You bet $50 and lose -$50.00, so in the next game:
Game 14: Bet $100 and win $91.00
This player is 6-8 and WON $105.00 over a two week period with a losing record.
You can obviously use this system however you want, here are some possibilities:
(1) Equipment specific. In 2007, in the NHL we only used this system betting on Montreal. If Montreal lost, we doubled down in the next game, if they won, then in the next game we went back to where we started.
(2) Position specific: In 2010, we play a dog and a favorite every day in NCAA basketball, if the dog loses, then we double a different dog the next day, if the dog wins, the next day we go back to our starting point. (The same is true for our favorite system)
(3) Specific position within a series: In the 2007 NBA playoffs, we played the dog during a series, so the dog could be Team 1 in game one vs. Team 2, but then Team 2 could be the dog in game 2. We play over the dog no matter who we played in the previous game.
You need to be careful, there will be a point where you find yourself betting more than you have ever bet before on a game, however when that game triggers your winnings will skyrocket. Please don’t bet your normal unit, bet 1/4 or less.
If you’re skeptical, check out our 2007 NBA Dog-Chase article, check out our 2008 MLB Playoffs results, or just click the Free Picks link on our website and see how the system works in 2010. Once you see how well it works, you’ll be addicted.