Why You Should Never Chase Your Losses

You may start to make excuses to justify what you’re doing, like saying it’s just an unlucky wager and even be confident you’ll manage to win back your money.

All of this will drive you to gamble more frequently and to spend more money, even in those situations when you clearly have fewer chances of scoring a win. And instead of returning the money, the losses keep on amassing.

The Best Way to Avoid Chasing Losses

It’s not easy to stop chasing losses, but it’s possible. Here are some things you can do.

Don’t Be Obsessed with Taking Back Your Money

It’s hard to stop, especially when you think your lucky break is just around the corner. And this feeling is normal, although it’s likely you’re just fooling yourself.

When you’re only focused on winning back your money, you won’t be able to consider all other things, such as all additional losses you’ve made while chasing your losses.

The feeling this streak of bad luck is about to end can lead you to dangerous territory.

It’s Not Personal

Losing is not a great feeling, and it’s something no one likes. But make sure not to take it personally.

You don’t have to prove to anyone you did everything right, because doing so will give more logic to your attempts to get back the money. It will force you to risk more and maybe even increase your losses.

In the end, you may start borrowing money to continue your efforts, creating additional problems, and more pressure.

Knowing When to Stop

As we’ve already mentioned, chasing your losses is a signal to stop gambling. It can be a warning sign of a gambling problem, so taking a break could prove to be a smart decision.

Taking a break will allow give you time to clear your head and turn your attention to other things you enjoy doing.

The feeling of wanting to return to chasing your losses won’t last that long. After some time, you can go back to gambling, although you should always bear in mind to gamble responsibly.