Chasing losses will ruin your bankroll (learned it the hard way today)

[MAAManda]

Lesson learned.... it doesn’t matter how good your system is, the moment you start chasing losses, you’re done.

There's nothing wrong with chasing losses, sometimes we experience bad luck when chasing losses, but we also experience good luck. I once lost $200, then made a second deposit of the same amount with the goal of chasing losses & it worked out well. The problem is when we don't have limits, because no matter how much you have, it will all be gone if you're unlucky. But I also agree with you regarding the plan, never betray the plan, because if we take one wrong step, all the foundations we have built from the beginning will collapse.

[Tungbulu]

Lesson learned.... it doesn’t matter how good your system is, the moment you start chasing losses, you’re done.

Stick to your plan, stay consistent and don’t let emotions take over.

I believe this has been discussed over a million times on this forum and it’s such a shame that some people would wanna experience it first before they’ll believe it. Or maybe they’ll say it’s just nothing but theories and their case might be different, while in fact all path still leads to the same place…

First of all, every gambler should come to the realization that gambling success is dependent on luck and chances, and chasing losses and wins would most likely land you in a mess, not everyone are lucky to actually succeed and actually recover their loss, the chances are almost zero.

[Findingnemo]

Fixed amount, is it even a strategy that is worth considering? I can't understand: if someone is just going with fixed bets, what's the point of managing the bankroll, or is it about picking the obvious, low-risk bets rather than just being random?

Anyway, chasing the loss is bad and it more likely will end up as worst-case scenario. You realized it sooner or it could be much worse so that's something you can take away from that event and move on from other things.

[Mrbluntzy]

Funny how a bettor will labour to remain discipline and build their deposit to a bigger amount but the greed of doubling it further will come in their mind, or the idea to win back a small amount that was lost will come to their mind and just that small chase of profit, all the effort you put to build the balance will be racked back by the bookmaker, the only way to win against it is by remaining discipline and risk conscious at all time, you don't have to let out your emotions on the bet.

[aoluain]

Lesson learned.... it doesn’t matter how good your system is, the moment you start chasing losses, you’re done.

Stick to your plan, stay consistent and don’t let emotions take over.

Thank you for sharing your experience. You didn't have a bad experience but you learned some good lessons that will help you become a responsible gambler. I have also faced the same situation, when I wanted to recover my losses, only to keep digging deeper into losses. Since then, I ensure that my gambling budget is strictly followed, no matter the urge to increase it.

Thats a great way to look at that scenario.

Like a lot of people I have had the same experience as the OP.

It is so easy to lose the control of the betting pattern you build up for yourself through
a moment of panic, not thinking straight, 'feeling' lucky or experiencing the gamblers fallacy.

I recon the successful gamblers are so regimental in their approach and do panic
or try a quick high stake bet to win back losses.

[rodskee]

I've been following a solid betting strategy where I stick with a fixed amount per bet and focus on beating the bookie through volume, not luck. It’s all about consistency and proper bankroll management and it works. But today I broke my own rule. I tried to double my bet after a loss thinking I could win it back quickly. Of course, that one move destroyed everything,  lost control, and just like that my bankroll was gone.

Lesson learned.... it doesn’t matter how good your system is, the moment you start chasing losses, you’re done.

Stick to your plan, stay consistent and don’t let emotions take over.

it’s unfortunate that the only time you allow yourself to sway away from your system it comes crashing down but this is proof that when you lose control and you do just whatever you want it can come back biting you and the consequences may be harsher than you initially thought

im sure you’ll still come back from this though! good luck

[vanesha]

Most gamblers lose control when they lose and want to turn the situation around. There are some players who are lucky enough to recover their losses, but most players just wait until all their money is gone. The way to control yourself is difficult, but if you persist and forget about your losses, you can definitely control yourself.

[rakebit]

That’s one of the hardest lessons most gamblers learn, chasing losses usually ends in a bigger hole. It’s better to treat each session like a new start and stick to a fixed bankroll plan. Even pros accept bad days instead of doubling bets to recover.

How do you manage tilt when you’re on a losing streak?

[Pandorak]

I've been following a solid betting strategy where I stick with a fixed amount per bet and focus on beating the bookie through volume, not luck. It’s all about consistency and proper bankroll management and it works. But today I broke my own rule. I tried to double my bet after a loss thinking I could win it back quickly. Of course, that one move destroyed everything,  lost control, and just like that my bankroll was gone.

Lesson learned.... it doesn’t matter how good your system is, the moment you start chasing losses, you’re done.

Stick to your plan, stay consistent and don’t let emotions take over.

From the story you shared, it reflects how momentary emotions can overcome the discipline/strategy that you have built up over a long period of time, destroyed in just a short time due to uncontrollable emotions. I think this can be a lesson for you to better control your ego and be prepared for whatever the outcome may be when you start gambling, you should also have a gambling budget that you have set aside beforehand, so that when that money is lost, you are not too devastated by it.

[ashmodeus]

You're not alone, OP, as most gamblers have experienced how chasing losses can worsen their situation. No one can be 100% disciplined in gambling when money is on the line, but your experience is invaluable and will make you much more disciplined. The bottom line is that chasing losses rarely ends well. While some people do succeed, it's just a fluke, as the results won't always be consistent.

[Agbamoni]

Lesson learned.... it doesn’t matter how good your system is, the moment you start chasing losses, you’re done.

Stick to your plan, stay consistent and don’t let emotions take over.

System, strategy or whatever each gambler calls it, does not guarantee any win.

My plan is to gamble wit a certain percentage, whether I lose it all or not, it doesn't matter, what truly matter is that I wont gamble beyond that percentage. That's my limit and ill stick to it.

[$crypto$]

Any strategy to chase your losses will never win, the balance will be depleted because you bet with high emotions to increase the bet hoping that the bankroll will return again but in reality you will lose to the bookies.

Your important lesson is never to chase losses --- the consistency of your initial bet will be better than wanting to win big.

We feel the loss of chasing the final bet we regret.

[Perfectbaby]

Stick to your plan, stay consistent and don’t let emotions take over.

Indiscipline causes most of these things and of course anyone who is that sticking to their regulations and sets of commands would never be that Open or too loose to go against their decisions, although sometimes they may be carried away without them remembering what they have already decided on while gambling. But for someone that manages their bankroll correctly they needs to set limitations as form of moderation to their gambling activities, because without them having that rules you could see them gambling uncontrollably and even if they are losing they don't mind instead they would focused on the profits they are about to make while gambling.

[Bright0515]

I've been following a solid betting strategy where I stick with a fixed amount per bet and focus on beating the bookie through volume, not luck. It’s all about consistency and proper bankroll management and it works. But today I broke my own rule. I tried to double my bet after a loss thinking I could win it back quickly. Of course, that one move destroyed everything,  lost control, and just like that my bankroll was gone.

Lesson learned.... it doesn’t matter how good your system is, the moment you start chasing losses, you’re done.

Stick to your plan, stay consistent and don’t let emotions take over.

This is caused by greed, when you have become greedy to earn more money you will eventually lose alot of money. Discipline is important if you had been discipline you wouldn't have lost sugar amount. Although sometimes you need to learn a lesson so that you won't try it again. These might serve as a lesson to you right now and I'm sure you will do your best not to go against your plans that has been helpful to you. Now you know that loss chasing can ruin your bankroll.

[LFC_Bitcoin]

Chasing losses usually just makes things worse. When you’re down emotions take over and you start making bigger, riskier bets trying to win it all back.

Most of the time that just leads to losing even more. It’s easy to forget that the odds don’t change just because you lost before. Instead of thinking smart, you’re just reacting. The best thing to do is stop, accept the loss and come back later with a clear head.

[Mia Chloe]

I've been following a solid betting strategy where I stick with a fixed amount per bet and focus on beating the bookie through volume, not luck. It’s all about consistency and proper bankroll management and it works. But today I broke my own rule. I tried to double my bet after a loss thinking I could win it back quickly.

Fact is a biased sentiment and greed is always accompanied by a loss. The moment you begin to act naive you'll definitely end up in a net loss. Actually sometimes it may not seem like it at first but you could be lucky at first before eventually losing it all. When you deposit in fact you should have a max in mind.

That maximum value can serve as a guide on when to chill even if you win or you eventually lose the bet.

[acroman08]

yep, you got that right. learning the hard way is one of the best ways to make you stick to your system/plan. Yeah, it sucked when it happened, but experiencing how bad the situation is will make you more aware, strict and more responsible when you are gambling. Sadly, a lot of people often fail to stick to their system/plan.

[rachael9385]

I've been following a solid betting strategy where I stick with a fixed amount per bet and focus on beating the bookie through volume, not luck. It’s all about consistency and proper bankroll management and it works. But today I broke my own rule. I tried to double my bet after a loss thinking I could win it back quickly. Of course, that one move destroyed everything,  lost control, and just like that my bankroll was gone.

Lesson learned.... it doesn’t matter how good your system is, the moment you start chasing losses, you’re done.

Stick to your plan, stay consistent and don’t let emotions take over.

Don't focus on beating the bookies because in the long run it can take you off track, I don't think anyone has successfully done that. Beating the bookie means that you found a way to win consistently and that's not really possible to achieve but you can incur and be in profit at the end of every month if you strictly follow principles, chasing losses is capable of ruining your discipline and breaking your plans

[Oluwa-btc]

Stick to your plan, stay consistent and don’t let emotions take over.

It's so funny  each day hearing and seeing gamblers chase over loses and the funny part of it is that they keep learning the hard way but most of them keep coming back gambling and recycling the same process cause they can't stick to a proper gambling activity. So while sticking to plan and strategies chasing over loses should be  exported but practicing responsible gambling should be nurtured.

[NurseHub]

It is easy for a gambler to forget his plans and go above it and then go bankrupt. Chasing losses and some advertisement that makes you keep trying, then you lose more. That's why it's advised to use different accounts for both your gambling and trading. The reason you broke your own rule is because you let your emotions control you, which is not good for a gambler.
At least you have learnt from your own mistake, and you won't repeat it. It will also help others not to try going above their plans.