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Resisting the urge to chase losses

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Even if you’re a highly disciplined soul, the hypnotic sway of the casino can seduce you into uncharacteristic behavior. One typical lure that pulls gamblers off the cliff of control is chasing your losses. For example, say you’ve lost more than you intended. But, you think, if you could just win one big bet, your problem would be erased. So, chasing your losses is tempting, especially in a casino where people seem to be winning all around you.

The reality is that most people walk out of casinos with less money than they started. Living to fight another day is far superior to outstaying your welcome and chasing your losses with bigger and bigger bets. It’s a natural instinct, and it’s a phenomenon that seems to sweep over casinos from the Mississippi River to Monte Carlo.

Don’t fall victim to chasing your losses! When you seek to retrieve that lost money, you start throwing good money after bad, hoping to win it all back. To avoid losing even more of your gambling bankroll, treat a loss as just that: a loss. Say no to the next hand or play, and say yes to some other activity.

One reason some of the best professional gamblers win is they don’t chase their losses. As a matter of fact, the best pros win, not because they’re lucky, but because they have a long-term perspective on their gambling. Annie Duke is one of the world’s most accomplished poker players. Her philosophy is to not fixate on individual sessions or daily results. Over time, all players get dealt the same cards. The important difference is how skillfully they play those cards. Maintaining a proper emotional attitude and composure, even when you’re losing, ultimately spells success.

Casino Gambling For Dummies

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