How To Avoid Chasing Losses?

How to Stop Chasing Losses.
If you have been gambling for a while then I can guarantee that at some point you must have definitely chase losses, only to end up regretting more and even losing more than what you have lost previously.

What Chasing Losses Is All About?

Chasing losses is when you continue gambling with the hope of recovering what you've already lost. You might believe that you'll win eventually win, so you invest more money and time into it but you only constantly keep adding up to your losses.

You might have the feeling that you're about to win big but this is only the start of bad things to happen. Chasing is a sign that you're now losing control of your gambling.


How Does It Feel Like?

When you’re chasing your losses, you’re filled with these emotions anxiety, frustration, and worry.

Gambling is no longer fun and it's more about getting even and finding ways to rationalize the losses. You might start telling yourself, " It was just an unlucky bet, ... will surely win this time.", "I have already loss this many times in a row i will definitely win now.", " I will win it all back this time."... etc.

What all this will lead to is betting frequently, with more money, and taking unnecessary risk which you know you have less chances of winning. Now the losses just keep on adding.

How To Avoid Chasing Losses?

Avoiding to chase losses might be tough but its possible.

1) Stop Obsessing/Trying Too Hard To Win It All Back:

We all win once in a while, but thinking that the next bet might be that big win makes it hard to stop.

It's normal to think that the next bet will turn your luck around and you win back your losses, but you're only just fooling yourself.

When you only think about winning it all back, you don't consider all the additional losses that are adding up.You might think that it's just an unlucky streak, it will definitely come to an end and you will win back all your money soon, but you're entering a dangerous territory.

2) Don't Take It Personally:

Nobody likes losing and its not a great feeling. It’s normal to take it personally. 

When you get into the game of proving yourself or others that you did not make the wrong decision, chasing losses seems a logical way to get back your losses. But its not the case, the more you risk, the more you end up hurting yourself.

Over time, you may end up borrowing money to win back your losses, which can create more problems. Now you may feel even more pressure to get back your losses.

3) Take A Break:

Whenever you find yourself in a situation wanting to get the money back that you have just lost gambling, it's a signal to stop. Take a break when you get that feeling as it's an early warning sign.

Walk away, take a break and clear your head. Do something you like and enjoy. I can be watching a movie, reading, listening to music, playing a game, cooking, or text a friend. Know that this feeling of wanting to go back won’t last.

The best way to avoid chasing is to never break this gambling rule: 

Don’t gamble more than you can afford to lose.

Just be real with yourself – know how much money you can afford to lose, so that you can wake up the next day feeling as good as the day before.

If you are planning for a recovery. There is a better way to recover your losses instead of chasing your losses. Check out our Recovery Guide.

Want to add something or have any doubts, leave a comment below.

Follow @smartgamblingedge on Telegram, Never Miss Any Updates!

Do share the post with a friend that might benefit from it!
How To Avoid Chasing Losses? How To Avoid Chasing Losses? Reviewed by Aryan Raj on 12:42 AM Rating: 5

No comments:

Powered by Blogger.