If you quit that's when you lose is the loser mentality, in my opinion. So many gamblers have lost life savings before on gambling to chase losses and that is how they thought about quitting gambling. I don't recommend applying this logic since there is no guarantee the next big multiplier will save all previous losses while you can add up more on the loss side. Gambling is all about the fun and nothing else, so forget this point of view and don't chase losses.
exactly what it is. That's even the reason why some people end up using their school fees to gamble, and some even use the money they were supposed to use for another project to gamble because of that false mentality they have about gambling. The major losses in gambling arise when the gambler refuses to give up after they have already lost a Great deal. As a gambler, one is supposed to have a budget of the amount that they would want to gamble off, so that even if they experience losses, they will not chase their losses.
Or worse, people will start considering committing a suicide and eventually end up taking their own life just like what we discussed here in this forum a couple of weeks ago about a student who used his tuition in gambling activities.
Honestly, it's not really that surprising that gamblers will end up in a situation like these because right from the start, they are already thinking it wrong and chasing whatever what is lost will be the easiest shortcut towards debt and problems. Gambling should be played with a total control over your emotions and setting the boundaries so that problems can be avoided.