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

[Finestream]

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.

[AbuBhakar]

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.

I can relate to this and this sucks to feel like I want to vomit.

I experienced this before on my betting journey having a good profit that last for 2 months until I destroyed everything all my profits and bankroll by just a simple martingale from a small lose bet just because I want to recover it before I end my session.

Chasing lose + martingale is always a killer combo which every casino expect us to do at some point when we gamble no matter how disciplined we are.

[Oshosondy]

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

Do you know the funny thing about chasing losses? You can try it the first time and have luck, think this can be a good strategy. Some people that first started using martingale strategy think like this also. But they will later know that it is not very simple as they thought when they started to lose huge amount of money. Chasing losses in anything is very bad because it is very risky, making the person vulnerable to more losses.

[Eternad]

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

Do you know the funny thing about chasing losses? You can try it the first time and have luck, think this can be a good strategy. Some people that first started using martingale strategy think like this also. But they will later know that it is not very simple as they thought when they started to lose huge amount of money. Chasing losses in anything is very bad because it is very risky, making the person vulnerable to more losses.

Yeah right. This is the tricky part on why gamblers often become a victim of this method. The illusion of recovering your funds quickly just because you experienced it already gives courage to the gamblers to increase their bets to immediately end the misery of having losses.

The expectation bs reality hits hard when the losing streak becomes brutal while your losses is already huge that higher on your bankroll even if you do all in bets.

[Rruchi man]

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 is very easy to go out of plan and principles both in gambling and trading and do something you vowed not to do. This is why you always have to remind yourself your reasons for having those fixed principles because if you forget, you will be reminded by the extra losses that you will make. A lesson you do not learn from a mistake will be repeated until you learn the lesson.

@OP, I am sure you had the confidence to chase your losses because you taught you had a solid strategy, so you see, over confidence sometimes is a major reason why people go against their own principles, another lesson learned and something to be watchful about.

[_act_]

It is very easy to go out of plan and principles both in gambling and trading and do something you vowed not to do. This is why you always have to remind yourself your reasons for having those fixed principles because if you forget, you will be reminded by the extra losses that you will make. A lesson you do not learn from a mistake will be repeated until you learn the lesson.

Not that they forgot to be following their principles but they are greedy. The greediness they have make them to chase losses, thinking they can make the money back, but they will lose at the end and feel sorry for themselves.

This is very common those that are addicted to gambling and trading. It is not bad if you set little amount of money for gambling and trading but many people are involving themselves in both or on one of them for money. Trading can be done because of money but it should be done with small amount of money and it should not be done for huge profit reasons.

[Anayochukwu]

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.

Discipline remains the easiest way to overcome frequent losses. But most gamblers normally forget about it because they think of doubling their money all the time without realizing that gambling doesn't have a particular system. Though, chasing losses is the worst decision because once you have that thought you bankroll wouldn't remain the same again. Actually, a responsible gambler would always stick to their decision because it's a game of luck.

[blomen]

the correlation fallacy causes people a lot of trouble in gambling. i want to explain this with a very simple example:

let's say you flip a fair coin four times. it comes up heads every time. if you were to bet on whether the next flip would be heads or tails, which would you choose?

actually, there is no difference between choosing heads or tails, because there is no connection between the events. in each trial, the probability of heads or tails is equal and 50%. but the human brain likes to make such connections.

when you lose one or a few bets, you feel like you absolutely have to win the next one, so you bet more to try to win back your losses. but the outcome is not influenced by previous results. falling into this trap can deplete your balance very quickly.

[Merit.s]

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.

You just broke your own rules because you allowed your emotion to control you. You wanted to win back your losses and thought that it's possible by your own doing. You forgot that gambling is a game of luck and no one knows if he's going to 2in his next bet or not.

Discipline is what some gamblers lack. They feel that they already know how to limit their losses but when they're gambling, they get tempted easily after two or three consecutive losses, they get emotional and do the opposite.

[fredericktaylor]

It is foolish to expect to recover money lost through gambling, we make the same mistake over and over again while gambling, the risk of losing money increases manifold by betting to get back the money lost due to emotion or greed. It is very important to always be aware to survive in the gambling field. It is wise to gamble with the money you can afford to lose, this does not put additional financial pressure on yourself. Those who can control their emotions while gambling can protect themselves from big losses. Most people are greedy by losing or winning repeatedly, so it is better to stop betting at that time, this way you have self-control over yourself and can protect yourself from big losses.

[Z-tight]

I have known this since i started gambling, which is a long time ago. Don't chase losses and take your losses as well as you take your wins. You ought to know from the beginning that in the long run you are most likely to lose to the casino, so stick to your betting strategy, don't deposit more than you budget and just have fun.

It is easier to have fun in gambling when you are not doing too much, when you know you can afford to lose whatever you deposit. However, it is good to learn lessons along the way, so take yours well and that's that.

[Przemax]

I dont think there is a winning strategy. Just because something have worked before doesnt mean it will work next time.

There is some merit to what you say though. You have to have some psychological limit how much you are comfortable losing and do not try to go to that uncomfortable zone, that after crossing it all you think about is your loses.

Gamble suppose to be fun and thinking about loses is certainly not fun.

[Dunamisx]

To gamble more safely, don't run after losses, have it in mind that for you to be a gambler, you must be ready and willing to embrace the outcome to any bet you have taken, this is what we should always have the awareness of, because we can't afford to gamble and then later feel regretting of what we have done already, all these are part of the essentials of bankroll management for us to be able to know what we are up for in gambling.

[Sticky Bomb]

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.

One thing that comes with chasing loses is that it makes you desperate and desperation can lure you to making wrong picks since you're no longer making good decisions but struggling to recover your losses and most times it leads to more losses as can be seen in your case.

I've a friend that we normally play crash games together using every strategy available to us including the histories. We weren't doing very badly although not in much profits. From nowhere the guy adopted Martingale strategy and it seemed to work for him the first two weeks and he good better profits than myself, but it didn't last he lost over $2k some weeks ago and over lunch he was full of regrets for deviating from our slow and steady method and chasing loses with Martingale strategy.

Chasing loses isn't the best option, we always tend to lose control in the process. It's good you learned your lessons just like my friend

[Fiatless]

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.

Thank you for sharing your experience. You didn't have a bad experience but you learned some good lessons that will help you become a responsible gambler. I have also faced the same situation, when I wanted to recover my losses, only to keep digging deeper into losses. Since then, I ensure that my gambling budget is strictly followed, no matter the urge to increase it.

[Marvelockg]

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 is one thing to know that doing something is risky and might endanger you and a completely different thing to effectively put it into practice when the time finally comes. even with all the things we say here in the gambling board that going after you loss is a bad approach to gambling, when you have to make decision on the spot, it always seems as though they just wiped your head clear and that you can no longer think anymore.

chances that after chasing loss that you will not be wrecked is very slim. at the time you are about doing it, it always seems like that is the best option until you learn your lesson the hard way.

[Don Pedro Dinero]

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

That's a big problem, which is why the psychological aspect is the most important part of skill games when you're a winner. There are many cases of winners who have busted their bankroll during a losing streak.

The bad thing about that is getting over it. There is nothing left to do but try to cheer up and learn from this by .

[Koadharber]

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.

One thing that comes with chasing loses is that it makes you desperate and desperation can lure you to making wrong picks since you're no longer making good decisions but struggling to recover your losses and most times it leads to more losses as can be seen in your case.

I've a friend that we normally play crash games together using every strategy available to us including the histories. We weren't doing very badly although not in much profits. From nowhere the guy adopted Martingale strategy and it seemed to work for him the first two weeks and he good better profits than myself, but it didn't last he lost over $2k some weeks ago and over lunch he was full of regrets for deviating from our slow and steady method and chasing loses with Martingale strategy.

Chasing loses isn't the best option, we always tend to lose control in the process. It's good you learned your lessons just like my friend

Chasing losses is the quickest way to destroy both your bankroll and your confidence because once that emotional switch flips and you start thinking about getting your money back instead of sticking to your system the whole structure you’ve built just collapses you stop following logic you stop respecting your limits and suddenly you’re betting larger than you can afford on games you didn’t even analyze properly all because you want to recover fast it’s one of the most common traps that gamblers fall into.

What your friend experienced is a classic martingale disaster it always works in the short term and gives a false sense of security you win a few rounds and start to believe that the system is unbeatable but when that one long losing streak shows up it wipes out all the gains in a single night the psychological pressure becomes unbearable you start taking impulsive bets hoping to hit one win and reset but by then the damage is already done. The smartest move after a loss is to stop breathe and evaluate why it happened not to chase it if you take a small loss today it’s still a win because you protected your capital from being drained the goal in gambling or trading isn’t to win every time but to survive long enough to keep playing the next round those who understand this are the ones who stay in control while others burn out and quit that’s why discipline is more valuable than luck or strategy once you learn to control your emotions the game changes completely.

[Hardyrobust]

[The main reason why we have so many addicted gambler is because of chasing after losses with the hope of winning back what they have lost. There Many that started gambling responsibly, but the moment they fail to understand that gambling is purely based on luck and there winning has always been as a result of luck. Some gambler started gambling and things was going smoothly for them , paraventually they are hit by loss , at that moment everything change. They will begining to think of getting back what they lose.

[JeffBrad12]

Absolutely agreed. It's not everyone understand chasing the lose is not about recouping your money back, but it's about following your EGO. I know when someone is losing, he's trying to fix the pain of losing the money. However, it can be stopped only when he stops to rewrite his past exp. Yeah, the key is to stop it and start to slowly, but surely building his own future with proper plan.
Losing the money is about the disatisfication owned by yourself to keep rewriting the story about your lose. When you lose, stop it. That's the best way to slowly build mentality, then can have better mod to gamble.