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5 Reasons Never to Chase Your Losses When Gambling Online

 

People often tell you never to chase your losses when gambling online? Find out why it’s essential to recognize the time to stop and keep your (life) balance positive.

After These 5 Reasons Never to Chase Your Losses When Gambling Online Your Life Will Never Be The Same

 

Gambling can be exciting and rewarding. But sometimes, it can drag you to the dark side. For this reason, we’ll present you with the reasons never to chase your losses when gambling online. Our goal is to keep gambling as it was meant to be – fun. For this reason, we’ll present you with our not-to-do list when the bad streak occurs.  

Your Bankroll is At Risk

When on a losing streak, players’ border between reality and an imaginary world full of possibilities is getting further away. In other words, players stop being rational and start relying on hope. As a result, gamblers lose touch with reality and stop following their balance. For this reason, we advise you never to chase your losses when gambling online. 

How to prevent it?

Suppose you are one of those gamblers who are losing touch with the real world while gambling; it’s a good idea to open a particular account just for gambling. Evaluate your budget and allocate funds to this segregated account. This way, you are preventing yourself from spending more money than you can afford. Additionally, if you find yourself in a losing streak and burn all of your money, you’ll be aware that is the moment to draw the line and stop. 

Risk Becoming Addicted

Speaking about gambling and addiction can be a slippery slope. Most gamblers don’t like to see these two things mixing in the same sentence. Given the circumstances, that is for a reason. However, this is a subject we all must talk about. There are many examples of people who lost everything because of it. They couldn’t say no to it. 

The risk of becoming addicted is a good reason never to chase your losses when gambling online. Now, most probably, while speaking about this, gamblers would say, “I’m just playing from time to time, small amounts, nothing too much – I’m not addicted, never going to happen.” While this comes as a valid point, there are examples when this evolves into something more. 

Imagine a newbie winning his first prize. He thinks he got lucky and tries again. After a month, he realizes he has €1,800 more on his balance. Then, a young gambler calls his friends over; his family gets them drinks or dinners. Until one night, when he has a bad streak and loses €850. He’s now thinking about all of these dinners and drinks he’s going to miss out on. Carried away by that feeling, he continues to play, depositing more and more every time. 

Eventually, he realizes that he lost more than €6,000. From that moment, he is playing to get himself out of the minus zone, constantly repeating to himself he’s going to stop once he gets his money back. 

If this story seems familiar, be aware, it’s time to stop. If you don’t like the story, pay special attention and don’t be like the hero of our story. Nevertheless, it’s essential to stop for a moment, read this story repeatedly, and remind yourself never to chase your losses when gambling online. 

You’ll Forget Gambling is Based On Luck

In most casino games, winners and losers are entirely random. Those who have a bit of experience already know which games are random and require knowledge and tactics. Don’t forget that most casino games use Random Number Generator, which determines whether your bet will end up in win or defeat. 

As an illustrative example, let’s take a game of roulette, for instance. Imagine a player trying to bet on black. He takes into consideration that in the last seven rounds, all have been red. Now, he firmly believes that the next one will be black for sure. He relies on probability, keeping in mind that the chances for black or red are statistically 50-50. 

Although he is right, he fails to look at the broader picture. Chances are indeed 50-50 that the ball will stop on black or red numbers. However, he must consider that this will happen on an infinite number of rounds on a global scale. When looking on a microscale, chances are a bit different. So, with every round that hits red, he is even more sure that chances for black are increasing accordingly, which is very much wrong. 

Eventually, if he had no luck that day, he’ll end up losing a more considerable amount of money than he originally planned.

Solution

Remind yourself constantly that all the games are based on luck. Additionally, gambling establishments exist for profits. If every player got his prize every time, there would be no casinos whatsoever. Be aware that wins and loses are part of the game. 

Risk To Stay At One Casino

On the other hand, some gamblers take their losses personally. One of the reasons never to chase your losses when gambling online lies in the fact that taking it personally against the specific casino can blur your judgment. If you are on a losing streak with one particular platform, don’t forget that the point of gambling is to have fun. Thinking that a specific casino took your money and that you need to get even with it doesn’t bring any good. 

Instead, you should change the game or change the casino. Look at the more comprehensive picture; it doesn’t matter if you are in minus with some platform; it’s essential to be in surplus (or close to it) in general. Consider many other casinos that are offering different promotions and use them to your advantage. Conduct your research and check out other casinos that offer bonuses for new players. Choosing a casino operator with a generous welcome bonus can boost your bankroll in both the short and long run.

Risking Your Health

Eventually, one of the most important reasons never to chase your losses when gambling online is not to destroy your health. Needless to say, caring for your own physical and mental well-being is vital. Chasing your losses may cause distress and disruption in your life. If you ever notice you’re on a losing streak, stop trying to get even. Take your wife/ husband and take them for a nice dinner or drinks. Ultimately, take any steps necessary to distract yourself from thinking about gambling and keep your mind clean and your heart healthy. 

Final Thoughts

People love online casinos as they’re fun and exciting. Simultaneously, with gambling, there’s always a chance you’ll make a jackpot and change your life entirely. However, if you find yourself on a losing streak, it’s important to remember the reasons why you’ve started to gamble in the first place and never to chase your losses when gambling online. Keep in mind gamble is all about luck, and don’t take it too personally. 

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