Chasing Losses

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Last post made 10 years ago by Lootva
Lipstick
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  • Lipstick
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  • Hiya LCB'ers,

    I always remember my dad telling me to never try and chase back my gambling losses. He told me 9 times out of 10 you will only end up digging a bigger hole. When i first started gambling i did just the opposite of what he told me and sometimes i have to be hit over the head with a hammer to see the light!

    I always thought just one more deposit, just one more ATM withdrawal and i know i will get it back! Oh my was i wrong! It seems like if you are not having a lucky day then no matter what you play winning is not going to happen.

    I have gotten much better with following my dad's golden rule but once in awhile i do slip up thinking ........maybe just maybe i can win if i try one more time! It is far and in between i ever come out ahead after losing.

    Do you chase your losses and if so has it ever paid off?

    Lips

  • nope; I buy pre-paid cards..what's on them is what I've got to spend..I don't go pick up another when it's out

  • yeahhh..it's true...set a budget...if u lose that's it cheesy
    chasing losses is just like you being "hot"
    if u r hot then u become reckless and u most probably will lose..

    control gambling, not the other way round

  • I've been chasing losses but not any more, I just set a budget for the session and stop playing when it runs out or cash out when I double the budget.

  • I was a little boy when I watched my cousin gambling 500.000 euros on blackjack (back than it was in german marks curency). That session lasted something like 24 hours and I think he smoked no less than 5 or 6 packs of cigarettes for that time. In the end he lost all that money, and I remember well the bad feeling I had after it was over. It kinda taught me some things, I knew from that moment Ill never be addicted to gambling.

    Ofc I do gamble, but I never redeposit if I lose, and always deposit the money I would otherwise spend on some kind of entertainment. I think its a crucial to say that there are no boundaries of how much you can loose when you hit the loosing streak. Just because constant loosing does not happen often, it doesnt mean it cannot happen to you cheesy Thats how I think at least

  • I have a budget and I stick to it. For me, it's simple as that; if I needed to deal with my addiction that wouldn't be fun and entertaining anymore.

  • I have chased losses and needless to say, it didn't always pay off however sometimes it did.  It is a bad thing and a limit is definitely a good way to restrict the amount that can be lost.

    blue

  • i used to chase losses years ago, when i gambled in the local arcade - but i did stop chasing them after a while, and just played what i could afford - and when i started online gambling, i never chase losses because online is far more different to argade slot machines.

    but it paid of years ago in the argade slots a few times when i chased

    LuckyRJ

  • Limits are nice in theory but many of us can't set and stick to them. Yep, I've chased my losses and ended up a hundred times worse off.

  • I'm guilty of chasing my losses. I love roulette so when I'm losing I tend to bet heavier out of frustration, which I only end up losing a whole lot more. I need to learn to walk away!  idea

  • It can be tough to walk away because gambling in essence is all about taking risks. It is knowing where to draw the line and sticking to it. It sounds like an easy rule to follow but when you are caught up in the passion and excitement it can be easy to throw the rule out the window!

  • been there done that... which only caused me to lose more.

  • I think it is a good advice not to chase the losses down. I try to stick to the budget that I set for a specific casino/game, a no-matter-what policy. That way, I have a feeling that I am in control of the cash flow, because once you don't have control over it, I guess you can only increase your loss...

  • Speaking of chasing losses. My ex been chasing me for the past 3 month. Maybe I should tell her to goto the atm and make some more deposits. Maybe she'll get lucky and win me back, lmao!!!

  • Hey as long as its her debit card and she wins why not lol. Don't think there is a gambler alive that don't try to chase back the losing blues. It's like playing craps sometimes it pays off and most of the time we want to kick ourselves in the arse for doing it.

  • Debit cards are a good way of keeping things under control. That is if it is not too easy to reload them:-)

  • It is maddening to try and collect on losses and i end up spinning my wheels and the slots to nowhereville. I think a fair amount of gamblers do chase them but are not willing to admit it. What is one more 20 dollar bill right?

  • I'll admit it. I have to leave my debit card in the car at the land based casinos and online, whew that's a tough one. With card info saved it's way too easy and I've chased a loss to the daily maximum debit limit. There's a question. What do you do when you hit the brick wall of debit card limits? For example, some banks only let you spend a certain amount of money per day using your card. If land based do you write a check, pull out another card? Do you use another card online?

  • Well, I guess it's not the question what to do if you burn your debit card, but to be strong enough to set your own limit and stick to it. If only that was easy..

  • I have reached the card limit at a casino heh and I've pulled out the check book. The check book is nothing but trouble. When I see lines of people standing there waiting to cash checks I can't help but think they hit the debit card limit.

  • I was out of control when  I first started gambling online, I'm talking way out of control. So my solution and it's the only solution I knew that would work for me is telling my husband I needed to be given an allowance every week, a set allowance. I gave him all my credit cards, debit cards, and the checkbook. So every Friday I get an allowance of $200, no more, no less. Needless to say this has been going on for the past 3 years and I have no complaints.

  • A set allowance is a great plan. Sometimes you need someone else to step in. Glad it's been working for you tinker. I've spent a pay check or two in the past. The card has to stay home when I go to the land based casino. I tend to forget that it's real money until I leave and I'm broke.

  • just lost an extra 150euro chasing losses. total loss is 300euro. I'm usually very disciplined but this time i did not stick to my game plan.

    When i gamble I always try to double up my initial deposit and then cashout. But this time i was winning at the beginning and instead of cashing out when I had a chance I continued to play. That resulted in my initial deposit being lost.

    then I made that another deposit, which I lost too ...  >:(

  • Anyone noticed how much easier is to spend the money using credit card than cash:-) Sometimes, I can't help but thinking that the only reason credit card is invented was to make you spend the money faster and have less control. Oh, and I agree that set allowance is a good thing, as long as you have someone really responsible on your side.


  • Anyone noticed how much easier is to spend the money using credit card than cash:-) Sometimes, I can't help but thinking that the only reason credit card is invented was to make you spend the money faster and have less control. Oh, and I agree that set allowance is a good thing, as long as you have someone really responsible on your side.


    Lol.... its soo true my cc runs everytime no problem, now if i go to atm to get cash those last for forever cause i dont wanna just buy crap i dont need.
  • kazzi, isn't it funny how we don't want to spend money on certain things or buy crap but we'll drop let's say $200 at the casino with no problem.  laugh_out_loud

  • My husband had to step in, the first couple of years when I started gambling online, I charged over $27,000 on one credit card, $10,000 on another, I was so out of control! I mean way out of control. Now when I look back at myself during that time I'm a little disturbed at myself how utterly out of control I was. We just paid off the $27,000 credit card bill 4 months ago, and have nothing to show for it except a frown my husband gives me once in a while when he sees me gambling:)

  • By the way feeling froggy, you are so on the money what you wrote.

  • Tinker, that's aweful. At least you were able to pay it off.

  • Tinker i think you have great system and that fact you have stuck to it this long is fantastic!



    Anyone noticed how much easier is to spend the money using credit card than cash:-) Sometimes, I can't help but thinking that the only reason credit card is invented was to make you spend the money faster and have less control. Oh, and I agree that set allowance is a good thing, as long as you have someone really responsible on your side.


    Lol.... its soo true my cc runs everytime no problem, now if i go to atm to get cash those last for forever cause i dont wanna just buy crap i dont need.


    I heard at one time they were considering slot machines to accept credit cards that could be placed directly into the machine same as cash at land based casinos! Can ya even imagine how dangerous that would be!

    Lips
  • I heard at one time they were considering slot machines to accept credit cards that could be placed directly into the machine same as cash at land based casinos! Can ya even imagine how dangerous that would be!

    Lips


    For you definitely Lips!.  You are out of control when playing slots at land casinos tongue
  • Well, the only thing left is for the casinos to offer to keep your cc and pin stored, so you don't have to bother to think if you brought it with you smiley


    Tinker i think you have great system and that fact you have stuck to it this long is fantastic!



    Anyone noticed how much easier is to spend the money using credit card than cash:-) Sometimes, I can't help but thinking that the only reason credit card is invented was to make you spend the money faster and have less control. Oh, and I agree that set allowance is a good thing, as long as you have someone really responsible on your side.


    Lol.... its soo true my cc runs everytime no problem, now if i go to atm to get cash those last for forever cause i dont wanna just buy crap i dont need.


    I heard at one time they were considering slot machines to accept credit cards that could be placed directly into the machine same as cash at land based casinos! Can ya even imagine how dangerous that would be!

    Lips
  • OMG that would be dangerous. I bet the only thing that's stopped them is the cost of converting all the machines

  • Actually there are a few casinos already evolving into ticketless, coinless systems.  Where a player is required to get a players card or if nothing else a cashout card.  I could see ways to go up to a Kiosk or the cashier.  Ask to load cash, a check, or a credit card advance onto it.  Then be able to play without even seeing the cash in your hand until you either A you cash out or B realize you've lost it all.
    While I don't mind the fact that my funds are now on my players card.  I just hate the fact that not all casinos actually keep there card readers in good working order.  Even though I have seen several players just jam there cards into the machine.  That can't be helping them either.

  • Hey lipstick I kind of have no choice but to stick with my system for two reasons. One is I don't completely trust myself, even though I've learned my lesson but still come on. Two I don't want to disappoint my husband again. I honestly think if I did the same thing and charged up the credit cards again he would probably want to talk about divorce with me. I wouldn't blame him. So you see I'm happy getting an allowance every week like my 12 year old son.  laugh_out_loud

  • If they ever had slots at the land-based that accepted credit cards I would probably have to handcuff myself somewhere in my house so I could avoid breaking the bank. 

  • Here we do have slotmachines that accept bank-cards since a couple of months, their in Bars and pubs and diners.

  • That is way too dangerous. I hope I never come across one of those.

  • Yeah, really part of my control is having to actually go to an ATM, but just being able to put the card in  is a scary thought.

  • There's a scary thought!


    Here we do have slotmachines that accept bank-cards since a couple of months, their in Bars and pubs and diners.

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