Tips, Previews & Guest Writers

Do not chase your losses

You win some you lose some, it is important as a bettor to accept that you will have weeks or months of differing success rates and not to let it get the better of you. Chasing your losses, essentially the placing of more money on a bet in order to recover previous losses is a very dangerous avenue to go down and should not be attempted. BeGambleAware’s advice is as follows: “If you lose your set money limit and then try to win some of it back before you leave, then you haven’t really set a money limit. Chasing your losses will usually lead to bigger and bigger losses.”

Alongside setting weekly limits and budgets, a consistent staking strategy can help ensure you do not exceed your responsible allowance. Forecasting how much you will spend over a week or a month can be really useful in keeping track to ensure you do not go over your limits. You are far less likely to chase your losses if you never bet more than you can afford to lose, reducing the frustration of a loss and creating an all round more enjoyable experience. 

Try not to get too attached or invested, having an obsessive interest in betting will make you more likely to chase losses, do not get into the mentality of always thinking that your next bet will turn your luck around, it is an unreliable and harmful approach. It can be easy to slip into a mindset of attempting to make it back to breaking even, without considering the additional losses you could be accruing as a result. The chances are that your judgment and decisions will become more and more clouded with each bet you place in this fashion.

Do not hesitate to take a break, if losing does spark any of the feelings described above. As stated in the last piece, it is important that you only place a bet with a clear head and a recent loss can cloud your judgment so taking a step back to then approach the situation differently would be a great help. The urge to chase your losses will not last if you give yourself a break, do something you enjoy to put your mind at rest, then you are far more likely to make better and informed choices when you return to place a bet. 

Should you feel yourself slipping into irresponsible gambling habits then do not hesitate to reach out and seek help. There are services like GamCare, Gamblers Anonymous and the National Problem Gambling Clinic that offer support and treatment. Daily Stat Cards take responsible gambling very seriously and we are always here to talk if anyone needs to.

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