Stop chasing your losses and use it as a lesson.

[Olotu20]

Gambling is a game of win and lose this is probably the first lesson anyone who is coming into gambling should learn first. Failure to come to terms with this reality will amount to disaster on the part of the gambler. Often times some gambler's are always trying to get back what they have lost in the process of gambling by continuously gambling, some even go further by increasing the stakes thinking that by doing that they are going to win and recover what they have lost in the process.

But there is no guarantee that you are going to recover what you have lost in gambling, the best thing to do when you have gone on a major losing streak is not to continuously gambling with big stakes believing that you are going to recover because, that may not happen.  Take a break and critically evaluate your losing and use it as a lesson going forward and gamble within what you can afford to lose.Chasing your loses is like opening yourself to more loses, Gambling is not a do or die affairs because, what you should know is that, the Casino wants you to continuously gamble knowing that the more you gamble the more the Casino becomes richer and the more the Gambler struggle with regret.

[Agbe]

unfortunately this is something that a lot of gamblers would keep on doing even if you warn them about how dangerous it can be, gamblers find it hard to learn from the past or other people's experiences. chasing losses only leads to more losses in the long run amd people that do this repeatedly will continue to lose time and money. You cannot do the same things and expect a different result.

[HelliumZ]

The most important warning message in gambling is not to try to recover past losses. If you try to recover past bets and lose repeatedly while trying to recover those bets, you will be in serious financial trouble. In this case, if you take out a loan to gamble, you will be in serious financial trouble, in which case you will have no way to repay the loan. That is why one thing is repeatedly said in gambling: never take out a loan to gamble and never keep betting again and again to recover past bets.

[OgNasty]

This is another piece of advice that is good for not only gambling but also investing. Limiting losses with stop losses is a common tactic by seasoned investors to limit losses if things don’t go your way. Taking a 7% loss hurts, but taking a 60% loss because you kept doubling down hurts a lot more. We’ve all been there.

[Oshosondy]

One of the best time for a gambler to lose all his money that is in his wallet or bank account or even the remaining money he has maybe on exchanges for trading is when the person is chasing losses while gambling. The person will increase the money he is using to gamble and what the person will finally find out is that he is having no more money which will be followed by regret as usual. It is good not to chase losses while gambling.

[Davidvictorson]

Gambling responsibly may seem hard at first but it saves the player so much heartache later.

Chasing your loses is like opening yourself to more loses, Gambling is not a do or die affairs because, what you should know is that, the Casino wants you to continuously gamble knowing that the more you gamble the more the Casino becomes richer and the more the Gambler struggle with regret.

This statement is something that I will not completely agree with. Casinos are legitimate businesses. Their aim is to make money and they do all they can to make money so that stay in business. Also remember that there is the economic benefits too because they employee staff. In my estimation, casinos are doing just want any other business would be - market their product and services. It is on the player to be disciplined and know when to quit.

[Kelvinid]

But gamblers are chasing losses in reality, and there's nothing we can do with that. Even the most disciplined gambler still chase his losses at times, so at this point, no matter how often we hear this reminder, still people would gamble and would chase losses after.

The only thing we can do is to learn from it, and realized that the more we chase our losses, the bigger the losses becomes. And the bigger the losses turned out, the more we end up regretting, wishing we could be good manager of our emotions.

[SUPERSAIAN]

One of the best time for a gambler to lose all his money that is in his wallet or bank account or even the remaining money he has maybe on exchanges for trading is when the person is chasing losses while gambling. The person will increase the money he is using to gamble and what the person will finally find out is that he is having no more money which will be followed by regret as usual. It is good not to chase losses while gambling.

Just thinking about it makes me anxious. I imagine myself losing control for a moment, being pulled into that deep pit. It's never happened to me before, and I don't want it to happen again. That's why I'm being cautious, ignoring my losses, and trying to pull myself out of that feeling immediately. I keep telling myself that if I don't, I'll be left with even worse feelings.

[Asiska02]

When a gambler already has this notion and believe that when they gamble and loss, by gambling more and increasing their stakes they’ll win back what they’ve lost, they’ve already started failing at gambling. And all of their risk management skills will become very useless because you cannot use that on the market you don’t have control over your losses on. The gambling market is designed to make you to come back and bet again and again but doing it more diligently is more important so as to not be faced with irreplaceable losses that you’re not ready to sacrifice for the games. Too many losses in gambling is a sign that you should hold on and not bet again, but wait for the perfect time, another time to try your luck again. When it has already reached your limit for that day, just let it slide and try again another day.

[alegotardo]

Do you know why people do this? Because they bet more than they should.

Think about it with me... if you go to a bar and drink too much and regret it, will you fight with the waiter to get your money back? Certainly not because that is impossible.
But in a casino the situation is different... people believe they can win money as easily as they lost.

Cool then... if someone only bets on the casino what they can lose, they will be "conformed" if they lose their bankroll, after all they were already prepared for that.

But if someone loses the money they should have used to pay the rent, what will they do? This was money that he could not have lost, so the person becomes desperate and as he is already in trouble, he believes that accepting the risk of losing some more is a good thing for the opportunity to recover the money he lost.

[crwth]

It's like asking yourself "how to avoid the destructive cycle" ^{that you know you are doing}

We all know how we feel, the entitlement that if you end up losing, a win is due. The Gambler's Fallacy is behind every loss, making you feel like any time now, a win should happen. This is very common in slots, and some of the games are just designed that way to make you feel that you can win.

In the long-term, it's still the house edge that could win. Mathematically speaking 

[TopT3ns]

When a gambler already has this notion and believe that when they gamble and loss, by gambling more and increasing their stakes they’ll win back what they’ve lost, they’ve already started failing at gambling. And all of their risk management skills will become very useless because you cannot use that on the market you don’t have control over your losses on. The gambling market is designed to make you to come back and bet again and again but doing it more diligently is more important so as to not be faced with irreplaceable losses that you’re not ready to sacrifice for the games. Too many losses in gambling is a sign that you should hold on and not bet again, but wait for the perfect time, another time to try your luck again. When it has already reached your limit for that day, just let it slide and try again another day.

One of the biggest traps is to turn to chasing your losses by betting more money as this is sure to destroy whatever you had planned in the first place. I have learned that this is the best safeguard we can have in order to avoid total ruin which is inadvertent when we cease to work when we have met our daily quota.

Break at the table enables us to make our heads straight before we gamble again in future. Coercion will not help the situation, because the market is never on overboard with a display of emotions. When you know when to quit when your limit is reached it is all right to make sure that your capital is safe.

[Grace333]

unfortunately this is something that a lot of gamblers would keep on doing even if you warn them about how dangerous it can be, gamblers find it hard to learn from the past or other people's experiences. chasing losses only leads to more losses in the long run amd people that do this repeatedly will continue to lose time and money. You cannot do the same things and expect a different result.

The fact here is that, we are all human looking for possible ways to profitable or to bring income to our pockets, whether easy or hard way. In the aspect of gambling some of us do it for fun and others do it as a source of income or have become addicted already, does that does it for a source income are the ones that will want to get back what they’ve lost by any means possible. I have a friend who wants to make payment for something important to him and money was not yet complete, so he decided to double the money by gambling part of it, unfortunately, luck wasn’t on his side and he lost, he used the remaining part of the money to gamble again to recover the one he has lost, at the end of the day he ended up going home with nothing and was not able to pay for what he wanted.

You don’t use money meant for something of importance to you to gamble, cause gambling is a 50/50 chances of winning, if you happen to loose the money you’ll try to get back the money you’ve lost by chasing your loses, that way you won’t think rationally again until you’ve exhausted your funds.

[m2017]

Gambling is a game of win and lose this is probably the first lesson anyone who is coming into gambling should learn first.

But how? Every gambler believes they're unique and will have everything special, because they were born to win. Gamblers come to the casino to win (not lose)!

Failure to come to terms with this reality will amount to disaster on the part of the gambler. Often times some gambler's are always trying to get back what they have lost in the process of gambling by continuously gambling, some even go further by increasing the stakes thinking that by doing that they are going to win and recover what they have lost in the process.

It's probably a typical human mental trap: the desire to win back losses and minimize them. This also happens in trading and investing. Therefore, many people will make the mistake of trying to win back losses, even knowing about the dangers. What can you do? It takes a strong will. Train this.

But there is no guarantee that you are going to recover what you have lost in gambling, the best thing to do when you have gone on a major losing streak is not to continuously gambling with big stakes believing that you are going to recover because, that may not happen.  Take a break and critically evaluate your losing and use it as a lesson going forward and gamble within what you can afford to lose.Chasing your loses is like opening yourself to more loses, Gambling is not a do or die affairs because, what you should know is that, the Casino wants you to continuously gamble knowing that the more you gamble the more the Casino becomes richer and the more the Gambler struggle with regret.

You gave the right advice – take a break if the game is going against your expectations. I'd also add that you need to create a game plan and stick to it. This will allow you to stay within your daily \ monthly loss budget, adding an element of control to your gambling process. It will also act as a deterrent when trying to catch up with losses and win back your losses.

[jcojci]

Not many people realize when they must stops gambling. Many will recover their lost although they understand it will difficult. But they consider that they may have lucky on chasing their lost and bring their money back.

If they could think twice about recovering the lost which may leads them to get more losses, they will not spend more money instead stop gambling and calming down themselves.

Increasing their bet will not be a solution but could makes them lose bigger than before. Stopping gambling for a while and calm down yourself will be better to be done.

You need to refreshing your minds, reducing your tension, and realize the fact that gambling is not for making money solution.

[Solodoski]

Unfortunately, there is nothing to learn here. Gambling is all about win and loss. The only thing worth learning is how to manage risk when gambling. Every other thing is controlled by the game providers and the players if it is sports betting. It is true, the most lesson learnt from gambling is never to chase loss. It only make the gambler, lose more. The same thing goes for chasing win. When the gambler tend to go for more win, rather than quitting when the time was right.

[danherbias07]

A lot of times, this is forgotten. Well, especially if a gambler experiences a win that makes him think that it could go on and repeat the same high multiplier win. The strategy of an online casino is mostly to make a newbie win initially, not because they are a charity, but to make the games more interesting. If we bite that trap and are unable to control ourselves, that's when everything goes wrong.

We have to be wise. That's the only thing we can do. But because most of the time our emotions get the best of us, we forget how to think twice before we deposit again. I don't blame gamblers who are hooked into believing they can win, but they must be informed that the chance of winning is lower than it is with losing. Sometimes very low that it can make you puke in disgust after a long losing spree.

[Oasisman]

This topic has been discussed several times, in fact, you can see a lot of users responding with the same thing to the threads that tackle about chasing losses.
It's safe to say that 99% of players who gamble know chasing losses will end up bad eventually, most of the time. However, these are one of the common facts that some players continue to ignore, believing they'll get different results.
This advice is also easier said than done, depending on the situation, especially for people who have been in the gambling heat and started hot, then all of a sudden losing streak came out of nowhere. Situations like that may trigger someone to chase losses, regardless of whether or not they're aware of the potential outcome.

[Agathamay]

Gambling is a game of win and lose this is probably the first lesson anyone who is coming into gambling should learn first. Failure to come to terms with this reality will amount to disaster on the part of the gambler. Often times some gambler's are always trying to get back what they have lost in the process of gambling by continuously gambling, some even go further by increasing the stakes thinking that by doing that they are going to win and recover what they have lost in the process.

But there is no guarantee that you are going to recover what you have lost in gambling, the best thing to do when you have gone on a major losing streak is not to continuously gambling with big stakes believing that you are going to recover because, that may not happen.  Take a break and critically evaluate your losing and use it as a lesson going forward and gamble within what you can afford to lose.Chasing your loses is like opening yourself to more loses, Gambling is not a do or die affairs because, what you should know is that, the Casino wants you to continuously gamble knowing that the more you gamble the more the Casino becomes richer and the more the Gambler struggle with regret.

The technique of increasing a stake after a loss is known as martigale principle.
Another thing that caught my attention was when you mentioned that, thetr is no guaranty to recovering losses and as a gambler, people already know that nothing is certain and most times, the major reason why people chase after their losses is because they gambled with money they can't afford to loss and as such, when the money is lost  to the casino, they try as much as possible to recover these losses thereby  incuring more losses

This very issue and topic will always be spoken about because we are in a generation where everyone wants money without stress

[Samlucky O]

This case is one of the most repeated case in the forum but however people still fall victim despite several warnings. But however those that will learn will learn and those that will not learn will still not learn, so it's a matter of decition either to learn self control or keep on chasing loses till you have nothing more to gamble. Majority of people here wished they could learn or Master the act of self control to avoid much loses but they fall victim always because there emotion is driven by their condition. This means if they are in losing streak they chase loses to recoup and if they are also in a wining streak they still keep on gambling hoping to win more until they have nothing left. Infact mastering the act of self control in betting is another difficult thing for many.