I just want my money back but at what cost?

[Junii]

Hello Reader. I hope everything is going well at your end.

I want to talk about something that many peoples related to it . In Psychology we call it The Sunk Cost Trap .

Well it starts with one loss. Then another one. At first they think It’s okay I will recover. But after a few losses there mindset changes.

They stop playing to win. They start playing to recover what they already lost. And that is where the real problem begins.

Because now every decision is based on the past not the present. Peoples increases their bets not because it makes sense but because they feel like they have to.
They tell themselves “I can not stop now after losing that much.”

But the truth is simple.

The money they lost is already gone. The next bet does not know there past. The game does not care how much they lost before. Still they keep going trying to fix something that cannot be undone.

I have seen people lose much more just because they refused to accept a smaller loss earlier.

So My Question is:
At what point do you think recovery turns into self destruction?

Love Yourself, Take care of yourself and stay well.

[Odusko]

The moment you start gambling trying to recover from your previous loses, that the point you start getting it wrong in gambling, the reason is that chasing a direction is worthless unless if you are chasing you winnings direction, but if the aim is to recover from a previous loses then you start taking decisions that keep you further away from the expected winning which may never come.

[sunsilk]

So My Question is:
At what point do you think recovery turns into self destruction?

When the reason to gamble is to chase the losses and this is what many gamblers are doing right now.

I didn't know that there's a call for that and that's additional knowledge for all of us. When a gambler losses their main reason why they gamble and that's to have fun.

Then, expect that they're no longer doing it to have fun but to take back all of their losses and take note of that, all of their losses. IMO, it can also count as gambler's fallacy.

[Somto9Light]

At the cost and expense of your bankroll, and possibly money you didn’t initially intend to gamble with. A lot of people have walked this path and it mostly doesn’t end well, the path of loss chasing has led a lot of gamblers into a trap that getting out turned out to be way more difficult than it was when getting in. It usually begins with, I just wanna get back my money and I’m gone for good, but that’ll require you to put in more and more money, and most times, more than you’re willing to lose, and yet you still keep losing more and unable to recover the loss.

[rachael9385]

Hello Reader. I hope everything is going well at your end.

I want to talk about something that many peoples related to it . In Psychology we call it The Sunk Cost Trap .

Well it starts with one loss. Then another one. At first they think It’s okay I will recover. But after a few losses there mindset changes.

They stop playing to win. They start playing to recover what they already lost. And that is where the real problem begins.

Because now every decision is based on the past not the present. Peoples increases their bets not because it makes sense but because they feel like they have to.
They tell themselves “I can not stop now after losing that much.”

But the truth is simple.

The money they lost is already gone. The next bet does not know there past. The game does not care how much they lost before. Still they keep going trying to fix something that cannot be undone.

I have seen people lose much more just because they refused to accept a smaller loss earlier.

So My Question is:
At what point do you think recovery turns into self destruction?

Love Yourself, Take care of yourself and stay well.

There's a point in gambling where those find it difficult to control themselves get into, this is the desperate state to recover and not minding if they lose everything and it's quite funny that sometimes it is possible to recover these losses but due to greed gamblers don't stop there they continue the cycle until they end up losing everything completely.

[Mia Chloe]

~snip

There's a high chance every gambler has been in that desperate situation at some point especially in serial gambling. Where they are in loss grow into huge profits and after that they probably try to make a little extra and end up losing some of it that they try recovering it back before eventually losing everything.

It actually takes a lot of experience and discipline for a gambler to overcome that emotional stage of not wanting to end the game in losses especially with the naive trust in that slim probability of winning eventually.

[swogerino]

Hello Reader. I hope everything is going well at your end.

I want to talk about something that many peoples related to it . In Psychology we call it The Sunk Cost Trap .

Well it starts with one loss. Then another one. At first they think It’s okay I will recover. But after a few losses there mindset changes.

They stop playing to win. They start playing to recover what they already lost. And that is where the real problem begins.

Because now every decision is based on the past not the present. Peoples increases their bets not because it makes sense but because they feel like they have to.
They tell themselves “I can not stop now after losing that much.”

But the truth is simple.

The money they lost is already gone. The next bet does not know there past. The game does not care how much they lost before. Still they keep going trying to fix something that cannot be undone.

I have seen people lose much more just because they refused to accept a smaller loss earlier.

So My Question is:
At what point do you think recovery turns into self destruction?

Love Yourself, Take care of yourself and stay well.

Some providers know very well past bets as they resume in every session where you left the past one and I am talking about Pragmatic Play in this case as they resume exactly where they left no matter that they tell you past bets are not connected to future ones, if it was like that and they were true to their word why start exactly where they left. This means absolutely nothing because they make you lose every single time, you cannot win like never 3-4 times in a row the buy bonus though you can always lose more than 10 times in a row when you buy the bonus, crazy yet true and I have suffered it myself. Now of course when we gamble we should not think about the past, at least I don't as my objective is always the same, to hit that max win in some random slot I love to play at any session.

[OgNasty]

So My Question is:
At what point do you think recovery turns into self destruction?

I think that is probably the point where you don't value your time.  For me personally, I couldn't even think about spending my time trying to earn back money I lost gambling.  Probably because my time is worth more than any amount I would gamble, but I think even if your time isn't worth anything currently, you could spend it to make your time worth something.

Gambling is for entertainment.  That is what you should use it for.  Trying to get rich in a casino is like trying to find a wife at a strip club.

[mcdouglasx]

So My Question is:
At what point do you think recovery turns into self destruction?

Everything gets complicated from the moment you start losing more than you should, compromising personal matters such as debts and responsibilities. And if that's a very common bias in humans, it doesn't only happen in gambling, it happens in everyday life. When people feel they have invested time, money, or effort in something they haven't yet achieved, they find it hard to stop because they feel it's already too much of an investment to back down.

[Fivestar4everMVP]

But the truth is simple.

The money they lost is already gone. The next bet does not know there past. The game does not care how much they lost before. Still they keep going trying to fix something that cannot be undone.

I have seen people lose much more just because they refused to accept a smaller loss earlier.

It's very sad but this is the unfortunate reality for many gamblers out there, while reading the whole post, I felt like you were actually telling me that story of friend of mine and how he ended up losing his life savings to gambling a couple of weeks ago, something I've been wanting to bring as a discussion to this forum and board but haven't found the time to..
And another reason being that what he did was something we discus alot of about on this board, so I felt bringing that up will be like bringing up something thats been discussed about over and over again.

This is like the common saying that "Men keep repeating same mistakes simply because we have refused to learn from our past mistakes and experiences", this is clearly the case, because the scenario you gave is the reality of many gamblers today, and this has been a problem of many fb gamblers from time immemorial.

[Marykeller]

At what cause is the question to really ask some of these gamblers who think they will someday recover their losses in gambling, when the losses in gambling are higher than its wins?

Well, some gamblers who have the mindset of recovery their losses in gambling are beginning to have a change of mindset that their losses will never be gotten back no matter how many times they gamble and stake with big money, their losses will keep increasing not decreasing

[Dunamisx]

At what point do you think recovery turns into self destruction?

The moment a gambler sees gambling as an opportunity to make money and cannot afford the losses he has been having over time, instead, try to recover all the losses and chase after such, then such Gambler will be said not to be the type that is gambling for fun, instead to recover losses and make earnings from gambling, but the truth is that you cannot recover by so doing, as things will only get more worse and ugly, because the more you are chasing to recover the more the incidence of losses increases.

[Grace333]

All this is as a result of wrong information these people have about gamble. Maybe when they began gambling they thought gamble was another source of income to generate money for them and maybe their first game they where lucky enough to win a so that might also add up to their conviction that gamble pay but unfortunately gambke started showing them its real side but the truth was just to unbelievable for them to accept. Lol it's very easy for people like this to become addicted easily. This is why I like to make sure that my friends and people around know what they're doing except we're not in talking terms.

[r_victory]

Chasing past losses is the biggest mistake a gambler can make and what most often leads them into debt because they start to believe that they only needed one more spin on the slots to win a jackpot, just one more roll of the dice, or one more spin on the roulette wheel. This is a complete trap of their own mind. It is not wise to think about recovering losses.

[Asiska02]

Trying to chase after your loss and recover your lost money back at that point has already become a self destruction. The game was never built to favour you, then why chase after what will forever remain a dream and not be able to actualize it. Gambling like you said is independent of your past experiences, they don’t really get to decide what your next game will look like as even the casinos have no right to turn anything into your favour. When the losses is getting excessive, it it better you stop gambling and go back to your planning room, there should be little risk henceforth after that and you shouldn’t be focused on recovery but rather focus more on how you can manage your resources to hit a big win one day.

[DYING_S0UL]

When you start gambling you should start with the mindset that the money you are playing with is already lost. Running after losses cannot guarantee that you will be able to recover your previous losses. Instead, it might lead to the opposite, you might end up with even more losses. On rare occasions, it might work out, but as others have already suggested, the results are often not pleasing. So, instead of doing that, we should focus on proper bankroll management, as well as setting a limit on daily loss. When exceeded, you simply stop playing. It's not a foolproof strategy obviously, but it helps in reducing the losses to some extent.

[Z_MBFM]

When you lose in gambling, forget about it as soon as possible because the more you try to recover that loss, the more you will lose because in gambling you will never get a winning guarantee and no matter how many strategies you use, you will not be able to win by using those strategies. So why should you take risks where you do not get any guarantee that you will be able to recover your loss. So always use the amount of money in gambling that you can afford to lose, then you will be able to control your own emotions and you will be able to forget about your loss. And only then can you be saved from the harm of gambling.

[Anayochukwu]

So My Question is:
At what point do you think recovery turns into self destruction?

I think that is probably the point where you don't value your time.  For me personally, I couldn't even think about spending my time trying to earn back money I lost gambling.  Probably because my time is worth more than any amount I would gamble, but I think even if your time isn't worth anything currently, you could spend it to make your time worth something.

Gambling is for entertainment.  That is what you should use it for.  Trying to get rich in a casino is like trying to find a wife at a strip club.

Absolutely correct, I think entertainment is what gambling is made for and not by forcing yourself too much to earn back money that you have already lost. Getting rich through gambling is purely not satting so it's better to gamble for fun and make use of your time for something meaningful because there is no reasonable need to chase losses in gambling because obviously you are not smarter than the casino, so it's not advise able take it to the next level rather we should take it slow.

[yahoo62278]

Unless you win your 1st bet aren't you always kinda chasing losses? If I am sportsbetting I usually only make 1 bet a night. I say usually as it depends on the sport and the day. NFL games on Sundays have 2 start times 1pm est window and a 4pm est window. There's 1 late game as well but I usually add the late game to the 4pm parlay. Anyways, depending on the sport I usually make 1 bet a day and it's a 3-5 team parlay. If the bet wins or loses I am done for the day and play again the next day.

Self destruction occurs when players try to martingale or get crazy on a bet showing 0 bankroll management.

[Wakate]

Chasing past losses is the biggest mistake a gambler can make and what most often leads them into debt because they start to believe that they only needed one more spin on the slots to win a jackpot, just one more roll of the dice, or one more spin on the roulette wheel. This is a complete trap of their own mind. It is not wise to think about recovering losses.

Chasing loses is one of the major mistake a gambler could make that can lead to further loses. This is is not a joking matter because I have tried this method several times and it didn't end up well for me.
It is okay for you to lose money to betting forgetting about it than to chase loses which can be very dangerous. I know we all make mistakes but it shouldn't be related to gambling, while trying to recover past loses. The story doesn't end well most times in numbers.