In the context of gambling, a cold streak is a long losing run experienced by a player. The term is used to describe a succession of consequent negative outcomes for a gambler or a team. In sports betting, the term means losing several bets in a row.
The opposite of this is a player being hot.
- A long series of losses experienced by a gambler.
Fun gambling fact:
According to mathematical models of randomness, cold and hot streaks are a lot more common than most people would imagine. You can test this yourself by throwing a coin 300-500 times. You will almost invariably get far longer only-heads or only-tails streaks than you think you will.