Chasing losses will ruin your bankroll (learned it the hard way today)

[imamusma]

I've been following a solid betting strategy where I stick with a fixed amount per bet and focus on beating the bookie through volume, not luck. It’s all about consistency and proper bankroll management and it works. But today I broke my own rule. I tried to double my bet after a loss thinking I could win it back quickly. Of course, that one move destroyed everything,  lost control, and just like that my bankroll was gone.

Lesson learned.... it doesn’t matter how good your system is, the moment you start chasing losses, you’re done.

Stick to your plan, stay consistent and don’t let emotions take over.

Don't focus on beating the bookies because in the long run it can take you off track, I don't think anyone has successfully done that. Beating the bookie means that you found a way to win consistently and that's not really possible to achieve but you can incur and be in profit at the end of every month if you strictly follow principles, chasing losses is capable of ruining your discipline and breaking your plans

Many casinos would go out of business if there were an effective strategy to win bets consistently. Even in games that involve skill, a strategy can only improve your chances of winning, it never guarantees success, as luck will always play a role.
In sports betting you may be able to win frequently, provided you have good analytical skills. But again, there's no guarantee you'll be successful in the long run. I think if you don't lose much money after tracking your monthly gambling expenses, you already have good self control.

[Mayor of ogba]

The best way not to ruin your bankroll in gambling is to discipline yourself never to chase your losses no matter how much money you lose because the very minute you make up your mind to chase your losses, you don't know what you are doing again, and you will prioritise staking your bets with big amount of money so that you can recover your money, but you don't know you have just started a journey of ruining your bankroll. Anytime we are experiencing too many losses in gambling, we should just take a break from gambling for the time being so that we are not tempted into chasing losses.

[EluguHcman]

I've been following a solid betting strategy where I stick with a fixed amount per bet and focus on beating the bookie through volume, not luck. It’s all about consistency and proper bankroll management and it works. But today I broke my own rule. I tried to double my bet after a loss thinking I could win it back quickly. Of course, that one move destroyed everything,  lost control, and just like that my bankroll was gone.

There is no late time to make corrections when we take the wrong decisions. I must  say it that ... I like it when gamblers who lost control of themselves along the lines realizes their mistakes and take correction steps.

Some are just stubborn and deceiving themselves that they don't hav problems with their gambling life.
Meanwhile... Deep down scrutinizing their bankrolls, their accounts bleeds over recklessness.

Dear OP, it is never a good advise chasing your loss and the martingale gambling strategies will always end tlu loosing more than expected if you are not careful and take control of your emotions.

[BitMaxz]

Your first strategy looks like risk management in trading; you have consistent bets, but you end up broke because you are chasing losses. It is similar to trading; if you chase your losses, you'll end up losing much. It looks similar to overtrade, but this one is overbet, which leads to a big loss.

That's why you need to stay with your strategy while it's profitable. One mistake could lead to disaster.

[Reatim]

Anytime we are experiencing too many losses in gambling, we should just take a break from gambling for the time being so that we are not tempted into chasing losses.

the reason why people chase losses is because they can’t afford to lose the money they just lost so they try to win it back but sometimes it ends up even becoming worse and they lose more than intended

[SUPERSAIAN]

I've been following a solid betting strategy where I stick with a fixed amount per bet and focus on beating the bookie through volume, not luck. It’s all about consistency and proper bankroll management and it works. But today I broke my own rule. I tried to double my bet after a loss thinking I could win it back quickly. Of course, that one move destroyed everything,  lost control, and just like that my bankroll was gone.

Lesson learned.... it doesn’t matter how good your system is, the moment you start chasing losses, you’re done.

Stick to your plan, stay consistent and don’t let emotions take over.

It's necessary to accept defeat. Chasing after losses only happens because you refuse to accept that defeat, and what happens next only gets worse, so it's best to accept defeat. So, I completely agree with what you're saying. There will be moments of devastation when you act on emotion.

The more we act on emotion, the more we stray from logic. Sometimes we think we can quickly make up for the loss with that emotion and ambition, but this is all about ambition, and it usually ends badly.

[nullama]

~snip~
It's necessary to accept defeat. Chasing after losses only happens because you refuse to accept that defeat, and what happens next only gets worse, so it's best to accept defeat. So, I completely agree with what you're saying. There will be moments of devastation when you act on emotion.

The more we act on emotion, the more we stray from logic. Sometimes we think we can quickly make up for the loss with that emotion and ambition, but this is all about ambition, and it usually ends badly.

Yes, if people continue playing even if they're losing they will end up dry.

There are a lot of people who lose their entire life savings in a day.

Gambling can be fun but also can be very expensive.

[criptoevangelista]

That’s called risk management, and it’s important to always stick to your own method. You made a mistake when you tried to recover your money, that doesn’t exist. Once the money is lost, it’s gone, period. You just restart your strategy and move on. If you keep trying to recover losses, you might end up losing absolutely everything. Lost? Let it go and move on.

[maydna]

Chasing losses makes you forget your strategy and plan while you will spend more money. You really need to control yourself and not let your emotions take over. If you feel tired and almost ose control, you need to take a break and drink some water.

Chasing losses will destroy everything. You lose control, your emotions are higher, and that will make you lose all money. You should learn the lesson so you will not repeat it. Many people get the same as you so you need to learn hard to avoid it.

You may difficult to recover the money. Casinos will not let you get your money back easily.

[Darker45]

Just like you, I also follow a solid betting strategy. Just like you, I also end up chasing losses once in a while. I guess that's just how a gambler's mind runs.

I don't know if there's a gambler who can strictly stick to his bankroll strategy whatever happens. If there's one, that gambler is probably in control of his/her emotions so much so that gambling might not anymore be for him/her.

I guess it's all part of a gambler's experience to be sometimes carried away by excitement, thrill, and whatnot. Would you be enjoying gambling if it's monotonous all the time?

[Pi-network314159]

I've been following a solid betting strategy where I stick with a fixed amount per bet and focus on beating the bookie through volume, not luck. It’s all about consistency and proper bankroll management and it works. But today I broke my own rule. I tried to double my bet after a loss thinking I could win it back quickly. Of course, that one move destroyed everything,  lost control, and just like that my bankroll was gone.

Lesson learned.... it doesn’t matter how good your system is, the moment you start chasing losses, you’re done.

Stick to your plan, stay consistent and don’t let emotions take over.

Yeah just like they say stick to what you know, it is good to maintain a strategy that works for us if it doesn't disappoint that much. But the fact is that as human we will always be tempted to try out new opportunity or strategy that that may work better than the previous one we used. Sometimes changing strategy may work and become better than the previous one, that is how discovery are made. In life we don't too stick to one thing otherwise we become stagnant in what we know. Just like they said  "a toad in the pond does not know about the ocean" he that try out new things can never be thesame with who has never tried. But however if the trying doesn't work out before you can stick to your strategy.

[ovcijisir]

OP you learnt a lesson hard way, hope you didn't lose too much. That's why I always say that maintaining limits and discipline is number one thing when it comes to playing casino games.

No matter how good the plan os, when emotions take over it is hard to stop and that's the moment discipline needs to kick in, to stop it when you reach your limit.

[KeenanEl19]

I've been following a solid betting strategy where I stick with a fixed amount per bet and focus on beating the bookie through volume, not luck. It’s all about consistency and proper bankroll management and it works. But today I broke my own rule. I tried to double my bet after a loss thinking I could win it back quickly. Of course, that one move destroyed everything,  lost control, and just like that my bankroll was gone.

Lesson learned.... it doesn’t matter how good your system is, the moment you start chasing losses, you’re done.

Stick to your plan, stay consistent and don’t let emotions take over.

Breaking your own rules by betting again after losing because you hope that the next bet will result in a win that might cover the previous loss is a common problem in gambling and everyone has experienced it, but only a few people can learn from it and not repeat it again, the worst thing is for players who really can't control themselves, they continue to bet again and again even though they have lost many times because of the strong urge from their thoughts that they are sure they can win in the next bet and continue like this until all the money they have is used up.

[junder]

I've been following a solid betting strategy where I stick with a fixed amount per bet and focus on beating the bookie through volume, not luck. It’s all about consistency and proper bankroll management and it works. But today I broke my own rule. I tried to double my bet after a loss thinking I could win it back quickly. Of course, that one move destroyed everything,  lost control, and just like that my bankroll was gone.

Lesson learned.... it doesn’t matter how good your system is, the moment you start chasing losses, you’re done.

Stick to your plan, stay consistent and don’t let emotions take over.

Once we reach the stage of chasing losses, the destruction is not over; it's just beginning. Many people experience the destruction of their lives because they insist on chasing their losses through gambling. This is an example of not being prepared for loss, even though in gambling, we should be prepared for loss. Otherwise, the consequences can be even worse.
But it's indeed difficult to control yourself when gambling. I myself have experienced a loss of self-control that resulted in me losing a lot of money in a single bet and also taught me a valuable lesson.

[Dr.Bitcoin_Strange]

First, a gambler or bettor should know that despite their skills in gambling or sports betting, there's normally two chances in every bet or wagering, it's either the game has a high chance of winning or a low chance of winning but what's more important to note is that every game has the possibility to go bad, even if the game had a 90% chance of success, that 10% chance of going bad can actually make the game go bad. That's to say, never strain your bankroll because of a game you feel so confident on because the result can be good or bad, nothing is certain in gambling.

[mindrust]

Playing for fun is the only plan you need in the long run. Every other plan and strategy will make you chase your losses eventually unless it is one of those overpowered broken builds you follow. (I mean EV betting and arbitrage betting.) Those OP strategies are mostly banned by the casinos sadly for a good reason. They make you win.

Playing for fun on the other hand is stress free. Sometimes you lose, sometimes you win but you don’t care about it anymore. You only care about the fun you had and to me, that’s more important than winning itself.

Getting rich was never the real goal, the real treasure was the fun we have had along the way.

[Orpichukwu]

Lesson learned.... it doesn’t matter how good your system is, the moment you start chasing losses, you’re done.

Stick to your plan, stay consistent and don’t let emotions take over.

Immediately you start breaking your own rules, you are one step closer to emptying your bankroll. It does not matter if you increase your bet amount because of cashing profit or chasing losses; once you start doing it, it will be hard to fall back on track, and it will also lead to fast consumption of your balance. Our discipline and self-control matter a lot if we want to keep a healthy betting experience.

[adultcrypto]

Chasing losses happens most when a player commits more than he should especially when he has developed some level of confidence in his selection. It never end well because when you chase losses, you end up ignoring your rules, if you have one, and continue to play with increased amount until everything is lost. To avoid being in a situation to chase losses, it is important we control how much we are willing to lose even before starting the gambling. In other words, if you calculate your possible losses before hand and decide to keep it at that level no matter what happens, you will not have any the urge to chase the money should you lose to that limit.