Chasing the win in gambling

I’d like to take a moment on the blog to discuss some serious gambling “don’ts” as in don’t do this.  Now gambling, either online or at a land based casino can be anything from an enjoyable hobby to a serious pursuit, depending on the game and the player’s skill. And casinos are happy to offer games for any level of seriousness. And for any bankroll.  But as a player, you have to be the responsible party when it comes to determining what your bankroll will be and enforcing your own limits.

The big don’t for today — chasing the win.  Now casinos won’t stop you from doing this. They want you to do this. It’s part of human nature and casinos are designed and fine tuned to take advantage of our gambling instincts. Here’s what happens. We start playing a game and we win a little. We like that feeling and we know we can win more. That’s what encourages us to play.  So, a bit later, we find we’re losing money. No problem. All we need is one good spin or one good hand and we’ll be back up.

And sometimes that happens. We win back what we’ve lost. Now here’s where human nature comes in. We don’t stop. After all, we’ve just reset our bankroll and now we have that money back to chase the big win, right?  Because it’s what we do.  But you know what, that isn’t where the real problem comes in. If you set a $50 limit for the night and after a few ups and downs, you still have $50 and still want to gamble, you haven’t violated your limit.

No, the problem comes in when you’ve just lost that $50, but you know you can win it back give just one good spin or one good deal. So, you withdraw a little more money from your account and start gambling again.  Casinos know you’ll do this. They make it easy to get to your money. They accept credit cards.  They let you charge to your room.  It’s all too easy to chase the win.  And it’s all too easy to lose far more than you planned.  So, watch your bankroll. Stick to your limits. And when that becomes difficult, consider calling

Comments are closed.