Quote from: BitcoinPanther on November 09, 2023, 09:38:51 PM

Quote from: CryptoHeadlineNews on November 09, 2023, 08:46:32 PM

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.

The reason why a person loses more while chasing losses isn't that they stay in the same game, but the main reason for it is that the gambler starts increasing the bet amount almost by 2x after every loss, we call it the martingale strategy, and a healthy loss streak with this strategy will take only a short while to empty the bankroll of the gambler because the bet amount is doubling after each loss and that when continued for more than 10 bets will reach a pretty high amount.

So, the danger of chasing losses is in doubling the base bet which is a recipe for disaster a lot of gamblers don't understand because they might have done it successfully once or maybe twice but they haven't yet experienced a deadly loss streak that sometimes can even go above 20 consecutive losing bets which is disastrous.