How do you handle your losses

[DevilSlayer]

I have experienced the highest of the highs and the lowest of the lows when it comes to betting on sports.

I am talking six figure wins and six figure losses.

My three most important rules are;

1 - NEVER chase your losses.
2 - NEVER bet with emotion
3 - NEVER bet what you can't afford to lose.

I hope that helps.

Your personal rules are good, I may add it to my strategy for me to become more better gamber. We all know that gambling can be a popular pasttime where it can be fun and exciting but it also comes wit risks which lead to financial problem without handling it very well. Anyone who play slots, blackjack and crash in different online gambling site knows that gambling can lead you to lose a lot of money and it can lead to problem rearding responsibilities like paying bills because of the losses.

Losing money because of gambling is very upsetting and depressingm but there are things that we can do to make our gambling losses less painful and for us to move on quickly to the losses that we incurred. One of the ways that I always do after my losses is I the acceptance stage where I keep telling myself that I accept the money that I lose. I'm aware that I can't win all the time and it is the reason why I can quickly overcome it.

[lienfaye]

It's not hard for me to handle losses when I gamble. Because right before I start playing, I already set in mind to have less expectation, to already consider i'm going to lose since I didn't gamble in the first place to win (though it would be great if it happened), I mainly gamble to entertain myself. Moreover i'm not using a huge amount for gambling, it's only my spare money that I can live without, the reason why losing is not something that can make me depress. So if I lose, I move on and do an activity to forget everything.

Anyway, we have different ways when we are handling our losses but whatever it is, keep in mind a gambler who have discipline can manage the defeat because he is aware of the risk and the consequences when he gamble his money.

[MiliMil]

Your personal rules are good, I may add it to my strategy for me to become more better gamber. We all know that gambling can be a popular pasttime where it can be fun and exciting but it also comes wit risks which lead to financial problem without handling it very well. Anyone who play slots, blackjack and crash in different online gambling site knows that gambling can lead you to lose a lot of money and it can lead to problem rearding responsibilities like paying bills because of the losses.

Losing money because of gambling is very upsetting and depressingm but there are things that we can do to make our gambling losses less painful and for us to move on quickly to the losses that we incurred. One of the ways that I always do after my losses is I the acceptance stage where I keep telling myself that I accept the money that I lose. I'm aware that I can't win all the time and it is the reason why I can quickly overcome it.

I understand what you're saying. Sometimes we can get carried away and lose a lot of money and then chase that money. The problem is you are now betting with emotions and your risk appetite has increased significantly leading you to do things you normally wouldn't.

Feel free to DM me if you need any advice/tips. I have done it all and seen it all.

[Don Pedro Dinero]

I handle my losses well. For many years I have been betting in a very rational way, small amounts that I can afford to lose.

Although I recognise that this is not the most common thing to do and that even people who bet responsibly often go over budget.

For me, being aware of the mathematics of the game you are playing is fundamental, as well as being clear about the difference between short-term and long-term results. That way, your emotional side, which is the one that often leads you to do crazy things, is kept more in the rearguard.

[xSkylarx]

We all handle emotions differently, also the way each of us admit our losses differs. I love playing dice and blackjack on my favorite casino and have never had a big win, but I make sure not to chase my loss if I lose. I have learned to deal with losses, it wasn't easy from the beginning, but it gradually became part of me over time.

Not everyone is good at letting go of their loss. I used a four way strategy to train myself into admitting my loss:


First I draw a plan of how much I am willing to risk for any bet:
I so much believe everything starts with a plan. To avoid been carried away by my loss or urge of trying more chances I first plan how much I'm willing to risk and if it goes I pause to try again when next I have made new budgets.

I make sure I don't pay attention to the leader board:
I try my best to avoid this board because it can be tempting and compelling seeing how much a user cashed out the hungry to try a little luck might make me go against my plan

I ensure I drink enough water to reduce risk of heat stress :
I won't want to be under any compulsion or stress after a loss, so I make sure I drink water to stay hydrated, and it helps manage my mood even if I lost.

I ensure my emotion is in check:
I remind myself regularly that I am only having fun that can either be winning or loss, and what ever be the outcome it is for the fun of the moment and not a get rich quick scheme.

I avoid greedy friends
Friends play a big role in the character of a person. Someone who is never greedy can become greedy based on a friend's influence. I rather take a small win and walkaway than risk it all to lose even my win.

My most annoying losses comes when I feel or assume that I have greater chances of winning the game. I experienced most of this in the last world cup in Qatar due to the numerous unpredictable game results. Listening to my favorite songs would be my best option to handle my losses. It helps to distract my attention from the game. Watching a good movie is also another good option to cool off the pain and anxiety. But like you rightly pointed out, greed is one of the catalyst that fuels unacceptable behavior after a loss. Hence, it is adviceable  to bet moderately so that one wouldn't lose more than he can bear.

This was also my feeling in which i thought this bet is a sure bet like 80%  chance of winning which having an over confidence but turns out not . If this kind of feeling will struck me I tend to not bet because being over confident is you will also increase your bet means huge of losses. It is really advisable that you should bet what you can afford to lose and if we can control our self the better

[LogitechMouse]

Just yesterday, I just lost a small amount of money betting into sports.
I felt nothing about that loss. Why?

It all comes to self control and discipline. If you think that the money you put into gambling has a high chance that it will be gone then you will not feel anything about it. After all, it all comes to how disciplined you are and maybe how emotionless you are .

How do I handle my losses? It's very simple. Whenever I loss to my bets in gambling, I simply play online games while my disappointment towards it is gone. Some gamblers are doing bad things whenever they lost money in gambling, but not for me. I'm just thinking from the start that the money I put has a large chance that will be gone and I just accept it. I only gamble to add some excitement while watching sports games.

[btc78]

I handle my losses well. For many years I have been betting in a very rational way, small amounts that I can afford to lose.

admiring people who gambles but stay having this attitude, because we can win of course but majority will be losing and our precious price is Enjoyment.

Although I recognise that this is not the most common thing to do and that even people who bet responsibly often go over budget.

that is when desire get over our willingness , and i have experienced this several time before.

For me, being aware of the mathematics of the game you are playing is fundamental, as well as being clear about the difference between short-term and long-term results. That way, your emotional side, which is the one that often leads you to do crazy things, is kept more in the rearguard.

and also being aware of what you may become if not treating gambling fairly.

[danherbias07]

The plan is to stay with the "budget".
Chasing losses mostly end up with more losses because you cannot think clearly anymore.
I do sports gambling so it's easier, Once the game ends I usually stop, I don't seek other sports that I have no clue about and just bet blindly. I also learned my lesson from casino games because it's always accessible, you can play anytime, 24/7 which means the urge to chase the losses is available.
I don't like being in that position so I switched to a gambling hobby that would end today and the next time I can bet will be tomorrow.
It actually works so now I can forget about the losses and the next day will be a fresh one.

[Kakmakr]

Do not track wins and losses in gambling, because you will lose your mind. I used to calculate all my wins and losses and I wanted to give up gambling, because my losses acceded my wins by a huge margin.  

You just accept that gambling are based on luck and that it is a form of entertainment... so a reasonable amount of losses, should be accepted. (Are you counting all the money spend on Movie tickets or take-away in a year?)

Write it off as entertainment and just enjoy it.... if it is not fun anymore... stop!

[GigaBit]

We all handle emotions differently, also the way each of us admit our losses differs. I love playing dice and blackjack on my favorite casino and have never had a big win, but I make sure not to chase my loss if I lose. I have learned to deal with losses, it wasn't easy from the beginning, but it gradually became part of me over time.

Not everyone is good at letting go of their loss. I used a four way strategy to train myself into admitting my loss:


First I draw a plan of how much I am willing to risk for any bet:
I so much believe everything starts with a plan. To avoid been carried away by my loss or urge of trying more chances I first plan how much I'm willing to risk and if it goes I pause to try again when next I have made new budgets.

I make sure I don't pay attention to the leader board:
I try my best to avoid this board because it can be tempting and compelling seeing how much a user cashed out the hungry to try a little luck might make me go against my plan

I ensure I drink enough water to reduce risk of heat stress :
I won't want to be under any compulsion or stress after a loss, so I make sure I drink water to stay hydrated, and it helps manage my mood even if I lost.

I ensure my emotion is in check:
I remind myself regularly that I am only having fun that can either be winning or loss, and what ever be the outcome it is for the fun of the moment and not a get rich quick scheme.

I avoid greedy friends
Friends play a big role in the character of a person. Someone who is never greedy can become greedy based on a friend's influence. I rather take a small win and walkaway than risk it all to lose even my win.

When a gamblers place bets uncontrollably, there is potential for huge losses. It may be financially or physically. But since profit and loss are very common in betting, a gambler has to take these two things very seriously. Both high gains and losses affect a gambler. But when a gambler bets more than he can afford to lose, his losses can affect him greatly. A bettor must think of loss first before betting. If he thinks he is in a position to recover that loss, he can bet. A good gambler can only become a good gambler when he can naturally control his big losses.

A gambler can be influenced in many ways. Like through his friend or someone else but in that case the gambler has to control himself. There is no place for emotion in gambling. Gamblers need to raise awareness of such things.

[Pierre 2]

Do not track wins and losses in gambling, because you will lose your mind. I used to calculate all my wins and losses and I wanted to give up gambling, because my losses acceded my wins by a huge margin. 

You just accept that gambling are based on luck and that it is a form of entertainment... so a reasonable amount of losses, should be accepted. (Are you counting all the money spend on Movie tickets or take-away in a year?)

Write it off as entertainment and just enjoy it.... if it is not fun anymore... stop!

Some people are calculating gambling budget and set it up in different ways to decrease their losses. If you can handle it mentally it can be beneficial. But I think you are pretty much right, if people keep thinking about their total losses they would probably lose their mind. Average gambler is probably in net loss (its reason why gambling business is profitable)
I also think spending time with family and also friends is awesome thing to stop thinking about your finances. People wouldnt mind your losses if they are sincere relatives.

[kotajikikox]

I avoid greedy friends
Friends play a big role in the character of a person. Someone who is never greedy can become greedy based on a friend's influence. I rather take a small win and walkaway than risk it all to lose even my win.

Lucky that I have no sets of friends with this attitude ,  most of my friends are just for happiness in enjoying because all of gambling friends has their self control and has a good family that makes them best in their decisioning .

greedy attitude is always the way to lose and many of us have seen this happening .

[Crypt0Gore]

It's your problem if you take gambling so seriously, it's a game of fun to me that's why I always gamble with very small amounts of money and if I win I take out my initial amount and have fun with the rest, the emotional and greed side of gambling is something I can't deal with on my own, so the only way is to derive pleasure and fun out of it.

[piebeyb]

I ensure my emotion is in check:
I remind myself regularly that I am only having fun that can either be winning or loss, and what ever be the outcome it is for the fun of the moment and not a get rich quick scheme.

This makes more sense, after all, gambling will not make us rich quickly, on the contrary, it can make us lose more quickly, losing a lot of money, so winning at gambling is not winning in the sense of getting a lot of money there, but being able to control ourselves also changes the feeling of defeat. as usual, when we can do that, that's a real victory

[btc_angela]

I will tell that it's really hard to handle losses, even if you think you have control of your emotions, it's very different if you are into it and trying to win unfortunately, lady luck is not on your side. Probably the best approach is to really just play the money that you can afford to lose and if you by chance didn't win then just shut it down and never thing of playing again. And just go away in the next couple of hours and best couple of days just to get away from the thought of gambling again and trying to recover what you have lost the previous days.

[TopTort777]

Even though I gamble with the amount I am ready to lose, the amount I mentally has already "spend", it always hard for me to hand stress after a loss. After a huge loss, I feel worried for couple of days, and remember the amount lost for months. Specially if that was a an altcoin, and it has gained. Cant help myself from checking the growing amount I could have get In such situation, for me he best cure is to switch attention to something completely different or get loaded with work. That usually helps.

[Mauser]

Yeah, those are some great strategies for dealing with losses in gambling. I'd like to share some of mine

Personally, I like to set a specific time limit for my gambling sessions. For me, I've found that limiting myself to only 2 hours of gambling at a time and not gambling on weekdays has helped me to stay disciplined and in control. It's not always easy, and it's taken me a while to get to this point, but by consistently sticking to this schedule I've been able to keep my gambling habits in check. It takes time, patience, and determination to be able to control oneself, but it's definitely worth it in the end.

Another tip for me is to only use a set amount of money for gambling. If I lose that money, I stop and don't try to chase my losses. It takes a lot of discipline to stick to this, but it's important to not let gambling take over my finances

I also make sure to spend time on other hobbies that help me stay focused and creative, like reading or playing sports.  I read for 1 hour before sleep and run 5 miles in the morning mostly every day. Sporting makes us higher than gambling.

Another important aspect for me is prioritizing my family and relationships. They are the most important factor in my overall happiness and well-being. I make sure to spend quality time with them, whether it's having dinner together or going on a trip. I believe that having a strong support system and maintaining healthy relationships can greatly impact our overall mental and emotional state, which in turn can help us make better decisions when it comes to gambling

That seems like a very healthy set of strategies you have here and by reading through I think that the main focus we all can learn from is to have other important things in life that don't involve money and gambling. Setting a fixed time and money amount for gambling is also my main strategy to keep in control of my casino habits. Without having a fixed framework I spent too much time and money in the past with gambling. Already back in high school I was struggling with not a strong discipline, always leaving all my work till the last hour before the deadline. That is why I also need fixed rules on what to do when face a losing streak. Taking a break is necessary to clear my mind and I think this year I will also try to focus on other hobbies. Sport is a great idea that is also one of my New Year resolutions to be more healthy, so whenever facing a losing streak it's a good plan to focus on sport instead. Also you are right that family and friends are the most important thing in life, we should not be putting gambling above our own family. Being emotional stable in our relationships will help to remain calm when gambling and deciding on which risks to take.

[Reatim]

It's your problem if you take gambling so seriously, it's a game of fun to me that's why I always gamble with very small amounts of money and if I win I take out my initial amount and have fun with the rest, the emotional and greed side of gambling is something I can't deal with on my own, so the only way is to derive pleasure and fun out of it.

Gambling with small amount is indeed what we mostly do not because we wanted to play for fun but because we only has limited funds to use and admit it , that is the reality  , there are so much telling that they only gamble for fun so meaning you need no money to win ?

I ensure my emotion is in check:
I remind myself regularly that I am only having fun that can either be winning or loss, and what ever be the outcome it is for the fun of the moment and not a get rich quick scheme.

This makes more sense, after all, gambling will not make us rich quickly, on the contrary, it can make us lose more quickly, losing a lot of money, so winning at gambling is not winning in the sense of getting a lot of money there, but being able to control ourselves also changes the feeling of defeat. as usual, when we can do that, that's a real victory

and also if emotion will be there? better to be a Happy emotion and not a desperate one in which will turns out to be more risky and a chance of chasing losses.

[piebeyb]

and also if emotion will be there? better to be a Happy emotion and not a desperate one in which will turns out to be more risky and a chance of chasing losses.

If people can control their emotions, it means they have won the gambling game. I think winning is not just talking about money, but controlling oneself in gambling is the most important thing. Having fun playing gambling to divert emotions is also important.

[Jawhead999]

@OP you're wrong, it's not about how to handle your losses, but you need to handle your purpose in gambling.

You should remember, the purpose of gambling is for fun and not to chase money, so if you're making profit or losses in the end, you wouldn't blame yourself with the result. When your purpose to gamble is to make money, when you're losses, you wouldn't happy and will try to do anything in order to make you satisfied, this can be gamble more or using drug or drink a lot alcohol.