Personal Finance

5 Reasons to Avoid Chasing Lost Money

You will certainly agree with the fact that nobody likes to lose anything in life. We are talking about a strange feeling when we believe our livelihood has a gap we need to fulfill. Sometimes this is possible, sometimes it’s not. In any case, nobody likes this emotion. However, when you take a look at gamblers, you will see that they have a somewhat different approach to this feeling

For instance, you will see that when they experience loss, they are eager to fulfill that gap immediately. Meaning, they are interested in returning to the table or a slot and returning their money. Naturally, this is not going to happen in a vast majority of situations. In fact, we’ve all heard the saying which says that house always wins. Today, returning to the place where you lost money is much easier.

The reason is that there are a lot of different online casinos out there. If you want to take a look at one of these, be sure to visit where you can find legit websites of this sort. Now, we would like to talk about a couple of reasons why returning to chase the losses immediately is a bad thing to do. Without further ado, let’s check some of the most important ones.

1. Reckless Moves


One of the most obvious reasons why you shouldn’t return to chase losses when gambling is that chances of making reckless moves are significantly higher. Meaning, you would want to return all the money you have spent on a game, but not following your strategy properly, you cannot count on having the best possible results. Plus, the “high-effect” that carries you will not help you in this regard.

That “high-effect” is the adrenaline rush. You have certainly heard about the fact that gamblers don’t care whether they will win or lose, as long as they play. It needs to be said that this is correct to a certain degree. Still, we wouldn’t describe it as complete truth. In any case, following a strategy you have developed along the day will not be as strict when you have decided to chase losses.

2. Bad Bankroll Control


Having proper bankroll management is something that can lead you a long way with gambling. Countless hours and papers were spent describing how people can do this in the best possible manner. However, you will agree that this is not something you can always control, especially when you’re carried by emotions, who will not provide you with almost any benefit.

Instead, having a clear head during bankroll management is an absolute must. Sure, you have seen how some poker players are completely calm when they play. That way, they have enough time to calculate their every decision. Not to mention that they think about the ways how they can save their money. Therefore, being carried by emotions caused by chasing losses will not help with bankroll management.

3. Chances are the Same


It doesn’t matter whether you watch a scene in a gambling movie or you gamble yourself, you will see that every gambler thinks that losing leads to increased winnings. Even though we can see that many of them truly believe this to be a fact, it simply isn’t true. It doesn’t matter what sort of game you are playing, or when you do it, the chances of winning will remain completely the same.

So, having a bad streak will not lead you to reap some massive income. For some reason, this is a rather big misconception, that many people would describe as one of the main sources of losses. Therefore, we would like to tell you that taking a break before you try to get some of the losses back is an absolute must. If you have a chance to do that, you shouldn’t miss out on this chance.

4. Financial Burden


It needs to be said that gambling is a significant financial burden, especially if you are not careful enough. One of the ways we can describe a gambler not being careful is chasing lost money. The key factor to prevent this financial burden from becoming too massive is to know when to take a break. Not only that you will be rested enough to continue, but your focus will also become much sharper.

Just think about it, sticking to the gambling strategy is not possible without being rested enough. For that reason, we feel it is crucial to get enough sleep the night before you play. So, it is an absolute must to know when is the right moment to stop and focus on something other fields in your life than this one. That way, you will prevent the financial burden from becoming too large for you to handle.

5. The Balance


Finally, we feel it is important to say that the right balance between winning and losing is something that needs to be achieved. As is the case with anything in life, having the right balance can guarantee both of these. There is no way you can win all the time, and you will certainly not lose at every hand. For that reason, it is crucial to remain, patient, whatever you do.

Therefore, chasing losses is something that doesn’t fit into this balance. Eliminating losses whenever you feel like it is simply not how things work. In fact, we can see that there is even an example of this. For example, winning after a bad decision in sports betting is less likely to happen than losing after a good decision. So, you can see that chasing losses in the world of gambling is never a good idea.


As you can see, there are a lot of reasons why you shouldn’t chase lost money. We’ve tried to point out the most important ones in this article of ours. Implementing these in your gambling strategy is an absolute must. We are certain you will find all of these to be as helpful as you need them to be.

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