And what causes gamblers chasing loses most times is when a gambler gambles more than they can always afford to lose, and in such case, the only option such gambler has is to double his betting stake, while hoping to win and recover all lost funds plus an extra, just as O.P did, by winning an extra, which is a rare occasion, as most times, if you are not lucky enough, you could also end up losing your entire funds, and gamble only responsibly at all times no matter whatever the scenario be, while having how much is he/she willing to risk at all times.
Gambler lose more in chasing loses because they tend to stay on the same game. Like in slots, the longer we stay on this game, the more frequent dead spin occurs. So if chasing losses is triggered, the player tend to ignore that kind of observation and keep on gambling until they ran out of money.
The danger of chasing losses is the trigger factor where a gambler don't mind anything but to get a huge win and eventually recover his losses which often times don't happen.
Without chasing losses, gamblers will also lose more often because this is gambling where there is no certainty that can give you guarantee of winning, even when you change games you can't ansure win.
Of course, very few gamblers can accept defeat and all this is because gamblers have the wrong goal when they enter into gambling, firstly they think of making money and secondly they always want to get win that is always bigger than before.
And as much as possible use money that is truly acceptable when you lose, I said this very often.
I consider chasing losses to be the first step towards ruin because to chase losses every gambler will definitely deposit or use more money, whereas once they start betting the losses will never stop.
This kind of behavior must be thrown away from gamblers if they want to be able to enjoy the true happiness of gambling.
You're quite right; gambling is a game of chance with little chance of success. Although it's a bitter pill to swallow, this is the reality. Gamblers frequently enter with the incorrect mindset, believing they will win huge amounts of money and constantly seeking for greater wins. They get caught in the trap there. It's more about the excitement and entertainment than it is about making money. Indeed, you ought to spend funds that you are willing to risk. I will repeat what I say all the time: spend money that won't cause you to lose sleep if it disappears
The actual issue arises when one chases losses. It's an endless cycle. You lose, you increase your bets in an attempt to win back, and you almost always lose more. It leads directly to disaster. If gamblers hope to derive any pleasure from the game, they must abandon this behaviour. It's all about self-control, establishing boundaries, and honouring them. You shouldn't be gambling if you are unable to accomplish it.