What Is Chasing Losses and Should You Do It

If you are a gambler, then you will no doubt be aware that both wins and losses are a standard part of life. Wins can happen regardless of the quality or otherwise of the hand.

While wins are of course welcomed by bettors everywhere, losses can quickly make any gambler feel angry and frustrated. They can also lose control of their emotions and embark on fruitless pursuits, all in a bid to recover the money lost. This is called chasing losses.

What Is Chasing Losses and Should You Do It

Chasing Losses- Why It Happens?

About every gambler at any online casino, of course, wants their bet to be a winner, the bigger the better. However, a prolonged winning streak can make even the most skilled, experienced and realistic gambler feel like their brain matter is not functioning as it should and that perhaps they should just give up gambling.

For those making use of a fixed bankroll, significant losses can deplete this rather fast. It can as well force players to try to get ahead by enlarging their usual bet sizes, in order to scoop up the big win that is popularly believed to lie at the end of the long string of chasing losses. This can however quickly lead to ruin.

Players everywhere indulge in chasing losses not because it is a sound strategy, but because we as a people are slaves to our emotions and can make significant but poorly thought-out decisions based on those same emotions. This must be totally avoided by professional players, as there’s no gain to it.

Don’t Be Result Oriented And Foolishly Chase Losses

A good bettor should be concerned only with the fact that the odds offered to make good sense and are a good value. Only then can they start laying bets.

If the bet was of good value, whether it actually won or not should be irrelevant, and the result shouldn’t bother players who regard themselves as professionals. This is because getting focused on the results leads to the chasing of losses to get back the amount lost. So, players should simply confine themselves to making bets that make good sense and leave it up to Lady Luck to decide if it will be a winner or not.

Luck And Life

In life and leisure, there is no such thing as luck. It actually is a complicated mathematical equation.

This means that there are no lucky or unlucky players, actions or things. The results of bets are therefore decided not according to luck, but on how well or otherwise they were evaluated before they were made.

Usually, chasing losses occur when people snap and decide that someone up there doesn’t like them and that their run of bad luck is due to change very soon. However, this turns out to be a fallacy, because there is no such thing as luck. As well as the fact that both wins and losses are simply due to the making of poor decisions, lack of favourable variance or player skill and the like.
Since controlling the variance is beyond the ability of players, they should instead focus on making bets of good value that will not bankrupt them in an eyeblink.

Free Your Emotions

To be truly successful in betting on games of chance like online roulette and others alike, players of all stripes must eliminate all traces of emotion from their play. This is necessary if wins and consistent ones at that are to be achieved. It can be done by gradually boosting the amount being staked in order to get better acquainted with how it feels to suffer big losses.

So long as players are making use of their set bankroll and do not deviate from their strategy, winning streaks will come sooner or later. Indeed, the biggest enemy that players have to worry about is themselves, as their emotions can quickly run riot and ruin them if care is not taken.

So, in order to ensure a long career and fruitful career, playing games of chance they must never chase losses no matter what and must always follow a set plan.

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Summary

Name: What Is Chasing Losses and Should You Do It

Posted On: 25/10/2018

Author: Alex Karidis