You've nailed the real trouble with gambling - the deadly pull of trying to recoup lost bets. This trap is where the gambler tries to win back their losses by doubling down, often landing in even deeper trouble. It's like chucking petrol onto a bonfire. Cognitive biases like the gambler's fallacy and loss aversion often fuel this. Instead of falling into the chase, it's smarter to hit pause and look at your betting habits. By setting strict caps on how much dough and time you drop on bets, and sticking to them, you can stop things from going haywire. Crucially, remember that gambling should mainly be for kicks, not a cash cow. So if you find yourself caught in a gambling whirlwind, reach out for professional help. There are loads of organizations ready to lend a hand to folks wrestling with a gambling problem.
True, however this comes from a prior and even bigger mistake, which is to believe that somehow people can become profitable with gambling, then when the gambler realizes they are not obtaining profits and they are sustaining losses they were not expecting that is when desperation hits them, then they try to recover their money and begin to chase their losses, and once they do that it is almost impossible to make the gambler understand they are committing a huge mistake, and they will only learn this was the case once their capital runs out.