How many people chase losses because they don’t want to lose? Or they don’t want their money to disappear so they keep chasing losses until everything is gone.
Often trapped in a casino game that ends up losing a lot of money, but now there must be a principle when gambling you must be prepared to lose because in gambling losses are greater than wins.
That's why it's so important to determine the amount of money you are going to gamble with. You set that aside and that becomes your budget regardless of your results. If you win something with it, great. You did better than many other players. If you lose all of it, you stop because you spent all of it. Under no circumstances do you add more money to that budget trying to recover or minimize your losses. That's when you end up performing even worse than expected.