The slippery slope of chasing losses.

[Etude]

Hey everyone! I would like to discuss about a critical factor that often leads to even more losses than already happening typically done unconsciously during our gambling sessions.

Have you ever suffered consecutive terrible losses in a row that hurts quite badly that makes you want to make a larger basebet in order to recover the said losses by using martingale or even worse max betting your whole bankroll just to attempt to chase back those losses? 

I face this problem all too often especially in the game of HiLo where consecutive losses can be a thing that happen so frequently as the next cards are unpredictable. All too many times in those situation I just continue to blindly chase the and attempt to recover the big losses in the session only to lose far more and in the end dry up my whole bankroll. 

Well learning from this happening far too many times, I would say a good advice is to never fall to the trap of rushing a recovery of losses ever since rushing things can cause an even bigger mess than before.

So I would like to hear you such similar experiences too if any.

[1n0n7y]

Consider the life of a professional gambler: one that derives his primary income from "games" be it games of chance or skill nonetheless. Without proper bankroll management, he will occasionally hit a big win - of which, he will lose eventually to his staking; aside from that which he pulls out from his bankroll to spend on his life needs. The more he spends, the more utility he can actually derive from his winnings. SO, he therefore must spend as much as he can as fast as he can - before losing it back to the casino. 

This pattern, let's say a "winning" or "net-plus" pattern gets magnified when the he increases his average bet amount in order to cover his growing need for money use - a typical pattern we see in life, as one gets older their financial burdens increase, naturally. So he gets caught in this loop whereby, he must spend all his winnings or counterbalance the amount for the chance to hit another big win... and is left to a life of destitute, barren of any form of savings possible. 

Any comments?

[barbaris]

Yes this is true. Martingale such an impression that leaves no chance of winning. But when you are broke and you bet 0  to check what happened next, he gives you the victory. It is better to restore slowly.

[nattekut]

I never ever chase losses. It has no use to chase losses and take the risk to loose even more. Thats why I never ever use a strategy like martingale cause at the end you will get burned anyway. I rather like to switch game or settings and forget about losses made during a previous session or game and just start with a clean sheet. I think this is the best way to avoid big losses. You can better go for multiple small profitable sessions instead of betting to huge and take the risk to bust everything

[cukup2]

 

I already want to share tips, I also experienced the same money when I played Hilo there, I only looked for payout 2x and suffered losses that made all my money run out because I remember returning back the defeat I had experienced. maybe this also happens to all players who play gambling, they always try to restore defeat and what happens instead.

[CntryBoy]

I hardly ever chase losses, but it has happened on occasion.  As long as you do it smartly, and don't try to get it all back very quickly by playing recklessly, it can work out sometimes.  Let's say I lose $100.... I won't deposit another $100 and try to double up to recover my loss in 2 minutes, I will maybe deposit back $25 and try to slowly rebuild back up to recover.

[FotisNt]

Well I was experiencing the same when I was playing hilo. Turned to plinko and I'm actually chasing wins. I guess Hilo became shit after the update so that's the reason. If you get used to a game, it might be really bad once it gets reworked.

[Paecga129]

7 hours ago, Etude said:

Hey everyone! I would like to discuss about a critical factor that often leads to even more losses than already happening typically done unconsciously during our gambling sessions.

Have you ever suffered consecutive terrible losses in a row that hurts quite badly that makes you want to make a larger basebet in order to recover the said losses by using martingale or even worse max betting your whole bankroll just to attempt to chase back those losses? 

I face this problem all too often especially in the game of HiLo where consecutive losses can be a thing that happen so frequently as the next cards are unpredictable. All too many times in those situation I just continue to blindly chase the and attempt to recover the big losses in the session only to lose far more and in the end dry up my whole bankroll. 

Well learning from this happening far too many times, I would say a good advice is to never fall to the trap of rushing a recovery of losses ever since rushing things can cause an even bigger mess than before.

So I would like to hear you such similar experiences too if any.

Oh I have been here so many times.   It’s like if I make a deposit and triple my money.    Cash out.   So what if I lost 5x this amount the day before.   Chances of winning back all of your loses are so very slim!!!    Anyone that is in this current situation I urge you to reevaluate!!!!    You will probably never ever get all of those loses back.   So reset that number very day or two because chasing will bring you to one place.    Busted and disgusted ! 

[CntryBoy]

9 hours ago, Paecga129 said:

Oh I have been here so many times.   It’s like if I make a deposit and triple my money.    Cash out.   So what if I lost 5x this amount the day before.   Chances of winning back all of your loses are so very slim!!!    Anyone that is in this current situation I urge you to reevaluate!!!!    You will probably never ever get all of those loses back.   So reset that number very day or two because chasing will bring you to one place.    Busted and disgusted ! 

I couldn't agree more.  We deposit and win a nice chunk, but seem to forget we just lost 10x that amount last week or whatever... lol.  As you say, reevaluate, reset and start fresh with a new attitude and hopefully the wins will keep coming.  Being gamblers though, we almost HAVE to forget about those losses so we can keep a positive outlook...

[artizykristy]

hem ... I think the way to play that looks for insta profit is the wrong one is not the strategy you use. just imagine if you play big payout compared to betting big bet blance I think this will make you get recover gradually

[yololife222]

Hey, this hase happend to me multiple times for excample i lost 10$ i got 220 on me so i went all in to recover it 1.05x and lost, the other time i got 13mil ltc went down to 10mil and went all in and bust. I know i should stop or try some thing diferent when i bust many but my gutts always say i should try maby i will win now.  

[GKD09]

This surely happens to every regular gambler especially the inexperienced ones. You tend to get the feeling of losses when you remember precisely your prev balance or when using the live stats and once you see the graph go below the 0 line you slowly get this feeling which increases exponentially and almost always ends only after busting. 

There is a huge psychological game that is being played apart from the gambling session. Your better off resetting the stats or not looking at your balance and play with the hope of luck coming your way. This is also why lower multipliers and including the usual 2x doesn't help this at all. Playing with a decent multiplier and games like Mines and Keno you do have the chances of hitting a good multi every once in a while. 

 

[williamshennie9]

Chancing losses always (well mostly) leads to more losses. I managed to actually turn all my stats green expect bitcoin, but I decided not to because I will probably lose more money in the process.

[bmg]

To be honest I have been on the worst losing streak of my gambling life.   Not that I have much to bet anymore like I used to.

I can not kick this ugly curse of a losing streak it's killing me.

[polor12]

why everyone is trying to win back the money they loss.. that is no good.. you lost it then dealt with it.. after that forget about it,,. that is the past already., if you play for recovery then you playing in circles. you wont never be happy for the winnings you get. you just considered that a recovery,. lost means gone.. so it be gone,,sat ethis. every bet is a new bet. win or lose.. every bet is new. that means.. you start all over again. even though you gain. because every bet you can win different amounts on the type of game you play.,. playing for recovery.. <sigh> bad for gambling. 

[Paecga129]

1 hour ago, bmg said:

To be honest I have been on the worst losing streak of my gambling life.   Not that I have much to bet anymore like I used to.

I can not kick this ugly curse of a losing streak it's killing me.

Same BMG.   Last time I hit something good was back in April or so I believe.    But I have also been a lot more broke so haven’t really been gambling as much.    I hope both of our luck changes VERY soon chica.  

[Bimfo]

In a casino, it is very okay to lose. In this particular game of Hilo, I tried using the proportional method of gambling i.e. I was just wagering 1% of my balance, and after I lost so much in the streak, I reduced the base bet to 1% of the current balance, I actually recovered after everything and I won more.

I learnt all these in the streams that Eddie always make. Eddie doesn't really use the margintale method but he will use proportional method of wagering. He will always have a balance of 2 ETH and he wager just 0.02 on a single bet. That is wisdom. That's just 1% of the said balance, and when he loses too much, he drop the base bet and he gets to recover at last.

Before I got to know of the style or method, i also doubled when I lost, which made me lose more then I run out of balance. These days, I don't really lose and I just cash out of stake when I want to cashout, it is so simple as that.

[DaDude]

᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎I have read scientific peer reviewed journals about addiction and ᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎problem gambling behavior that chasing losses plays a is a very big role in the negative affects of the whole shebang.