A few weeks ago, I wrote an article on managing your bankroll when you’re running HOT (read it here). Now, it’s time to discuss the flip side — what to do when you’re ICE COLD.
With the Robin Hood Club on a nasty skid lately, this is the perfect time to talk about bankroll strategy when everything is going wrong. Let’s walk through how I handle cold streaks in a way that minimizes losses, keeps me sane, and lets me stay in the action — all while protecting my long-term ROI.
❄️ Case Study: Robin Hood Club Cold Front
Let’s get honest about recent performance…
- We lost the 1-unit Robin Hood play on Akron last Saturday due to a missed field goal and extra point.
- That opened the floodgates. Since then? A brutal 3-14-1 run.
- BUT — the Club is only down 3.57 units. Not 11, not 12 — just 3.57.
How? Smart bankroll management. 🎯
🚨 Everyone Has Cold Streaks (Even the Best)
There is no way to eliminate losing streaks. None.
- The best pros hit rough patches.
- Even Mr. Poison finds a winner now and then.
- What separates pros from amateurs is how they respond to losing.
Where amateurs press and chase, pros recognize the situation, reduce risk, and preserve their bankroll until the tide turns.
🐠 Goldfish Memory: The Gambler’s Curse
Let’s talk about mindset.
Someone once said:
“The average gambler has the memory of a goldfish.”
A goldfish (supposedly) forgets everything after three seconds. That means:
- When it’s hungry, it feels like it’s been starving forever.
- When it’s losing? Feels like it’s been losing for eternity.
- When it’s winning? Feels like it’s invincible.
That’s how most gamblers behave.
When they’re losing, it feels hopeless.
When they’re winning, they’re the GOAT.
And when things go bad? The world is ending.
You MUST overcome this mindset if you want to survive cold streaks.
🧠 Regain Sanity First
When you’re cold:
- Don’t press.
- Don’t chase.
- Recognize the streak.
- Control your emotions.
It’s not the universe out to get you — it’s variance. You’ve had losing streaks before and got through them. You’ll get through this one too. But only if you keep your head.
💼 Step-by-Step: My Cold Streak Strategy
1. Lower Unit Size
As soon as I sense a cold streak, I cut my risk.
- From 1 unit ➡️ 0.5 units
- If the slide continues, I go down to 0.2 units
- If it’s still brutal? I step away entirely for a few days
The idea isn’t to eliminate losses — just shrink them.
I’m still in the action (which scratches the itch), but I’m not compounding damage by betting full units when my edge isn’t hitting.
“I’d rather win less than lose more.”
Let the streak run its course with minimal exposure. Then, ramp back up when the market shifts.
2. Know When You’re in a Cold Streak
Simple rule:
If you’ve lost several bets or multiple days in a row — you’re in a cold streak.
Don’t rationalize it. Don’t assume you’ll “snap out of it” with a big bet. Acknowledge it, and adjust.
Remember:
- Losing 2 days in a row? 🚨 Warning signs.
- Losing 3+? ⛔ Stop betting full units.
3. Fight the FOMO (Fear of Missing Out)
This is where many fall apart.
When you’re cold, dropping from 1 unit to 0.2 feels like a missed opportunity if you hit a winner.
But let’s be honest — you’re probably not hitting right now.
You’re not missing out on wins — you’re avoiding bigger losses.
📉 A smart example? The Robin Hood Club’s 3-14-1 run only cost 3.57 units.
That’s thanks to this exact method.
🧪 Proof the System Works
Take a look at my personal and algorithm plays:
- MLB totals: +38 units
- Profitable in soccer, hockey, NBA, NCAAB, golf, tennis, props, and more
- Robin Hood Selections: 11-7 (61.1%) and +19.3 units
So why do people freak out during a rough week like this?
Because they’re goldfish. 🐠
Losing 3.57 units isn’t “the end of the world.” It’s a blip.
🧱 Final Word: Ride It Out, Don’t Flame Out
Here’s your action plan:
- 🧠 Lose the goldfish mindset
- 📉 Cut bet sizes fast
- 🛑 Pause if needed
- 📊 Track performance
- 🔥 Ramp back up when things shift
I’ve had losing streaks that turned into heaters. If I had pressed during the slump, I wouldn’t have had the bankroll to enjoy the comeback.
The goal is survival, not style points.
🧩 Summary: Surviving the Icy Times
- When the losing begins, don’t panic — adjust.
- Drop your unit size to stay in the game with low risk.
- Let the streak bottom out, then ride the next wave up.
- This is not rocket science, but it requires discipline and perspective.
If you can do that? You’ll outlast every casual gambler and be ready to crush when the streaks flip — as they always do.
“Action is not oxygen — you can survive without it.”
~ The Sharp Plays
🎯 Stay sharp, stay sane, and protect that bankroll.
Good luck in your action!
~ TSP