Chasing losses - Double down bet or Bet twice?

Beparanf

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Quote from: Synchronice on February 16, 2023, 09:16:08 AM

Are you damn serious? It's casino, how can you aim to hit a winning streak to recover? What if you don't recover? Are you going to lose your whole balance?
If I were you, I would dedicate certain amount of money for gambling and wouldn't care about win/lose ration. It would be better for my mood, better for my budget and better for everyone.
Just my piece of advice: If you have been gambling for money for a while and find it difficult to stop yourself alone and do double bet and similar budget destroying things, just write down the plan that if the balance reaches X amount, you'll just turn off the game and don't gamble that day! Remind this to yourself, stick with your plans. If you feel nervous, just go to the GYM and spend your energy there.

Your reasoning is not cut out on gambling logically. The only way to win in the casino is to have a win streak. Let’s say you are increasing your bet to recover your loss, it’s still useless if you are not winning consistently no matter what is your strategy.

Quote from: Synchronice on February 16, 2023, 09:16:08 AM

If I were you, I would dedicate certain amount of money for gambling and wouldn't care about win/lose ration. It would be better for my mood, better for my budget and better for everyone.

Why you will dedicate money on gambling if winning is not your top priority. This doesn’t make sense and a common post by user that doesn’t gamble at all. You can play gambling games on playstore and appstore using play money if your goal is not to have profit to save you time and money.

Quote from: Synchronice on February 16, 2023, 09:16:08 AM

Just my piece of advice: If you have been gambling for money for a while and find it difficult to stop yourself alone and do double bet and similar budget destroying things, just write down the plan that if the balance reaches X amount, you'll just turn off the game and don't gamble that day! Remind this to yourself, stick with your plans. If you feel nervous, just go to the GYM and spend your energy there.

Your advice is a bit off-topic. I’m not asking an advice personally. This discussion is meant to determine what people typically on recovering loss. And if you are really a gambler I think I doubt that you can do your opinion personally. Grin

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Quote from: Beparanf on February 15, 2023, 07:01:06 AM

I always have a dilemma when it comes to chasing losses in gambling. When I’m in the good mood, I preferred betting using the same amount multiple times until I hit a winning streak to recover my lose but when I’m in bad mood, I usually increase my bet size equals to my total lose so that I can recover quickly.

What do you typically do when you are on chasing loss situation?

I would say it’s not wise to play with emotions. Whether you’re losing or in a winning streak, you shouldn’t let your emotions cloud your judgement and forget when to stop. That’s the key; knowing when to stop.
When having losses while playing, it’s best to stay calm if you want to continue playing. Do not let the pain of losing overshadow your ability to reason. If you can’t, it’s best to pack up, nurse your bruised ego and go home.
Different things works for different people but I would not advise anyone to chase and try to win their losses back. It most times ends up in more losses.

romero121

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It is not good to gamble when you're in bad mood. We have big plans, but we fail on execution. Yesterday I received my signature earning and I was able to double the amount received, but when I went in making just a single dollar I failed and lost everything just because I tried to have my wallet balance to be same after the wager. Here what I did is just went on doubling the bet amount. This means if you're lucky, doubling the bets could bring big money. When the choice is to safe gamble it is good to bet twice. Chasing losses is the bad decision one should never think with gambling.

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I think doubling up the bet is a better strategy than betting twice, at least that way has worked better for me. Always when I try the bet twice method I end in a bust because when we are on a bad streak that means we will lose most of our bets. So, the long run is was take our money. But, with the martingale as OP mentioned we can recover with a single win and move on chasing the profit side.

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Quote from: Synchronice on February 16, 2023, 09:16:08 AM

Quote from: Beparanf on February 15, 2023, 07:01:06 AM

I always have a dilemma when it comes to chasing losses in gambling. When I’m in the good mood, I preferred betting using the same amount multiple times until I hit a winning streak to recover my lose but when I’m in bad mood, I usually increase my bet size equals to my total lose so that I can recover quickly.

What do you typically do when you are on chasing loss situation?

Are you damn serious? It's casino, how can you aim to hit a winning streak to recover? What if you don't recover? Are you going to lose your whole balance?
If I were you, I would dedicate certain amount of money for gambling and wouldn't care about win/lose ration.

At least, I believe the OP has been aware of the risks. after all, the OP has said he always has a dilemma when it comes to chasing losses. The OP also explained that when he's in a good mood, he always bets using the same amount, until he reaches the point of having his luck. well, which becomes a problem when the OP is in a bad mood. OP, got carried away by his emotions and led him to bet increasing the size of an uncharacteristic amount. if it wins, it is good luck for him. if he loses, he will suffer a greater loss.

But despite all that, we agree with what you say. it would be nice when we do gambling sessions, not really expecting rewards to get high wins. or it could be, play loose with a pre-budgeted amount regardless of winning or losing. most importantly, we continue to enjoy every gambling session without having to always chase losses.

348Judah

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Quote from: pawanjain on February 16, 2023, 10:24:12 AM

Quote from: Beparanf on February 15, 2023, 07:01:06 AM

I always have a dilemma when it comes to chasing losses in gambling. When I’m in the good mood, I preferred betting using the same amount multiple times until I hit a winning streak to recover my lose but when I’m in bad mood, I usually increase my bet size equals to my total lose so that I can recover quickly.

What do you typically do when you are on chasing loss situation?

That is what called as revenge betting. You are basically taking revenge by betting more than you can afford to lose.
You are chasing the loss without controlling your emotions which eventually lands you in trouble.
What I do is when I lose 3-4 consecutive attempts to recover the loss then I prefer to stop gambling for the day and come back next day.
This is how I control myself from over gambling and stay in the limits.

Don't be surprised that this may actually work out for some gamblers just that only on a rare occurrence, our dexterity doesn't count most times when we sound very eager to win, the harder we try the lesser result we see, which means it's not actually onbthe rate of amounts being used or the mind well determined for winning, it's all by luck and how accurate we are in predicting over games we play when gambling.

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Quote from: Beparanf on February 15, 2023, 07:01:06 AM

I always have a dilemma when it comes to chasing losses in gambling. When I’m in the good mood, I preferred betting using the same amount multiple times until I hit a winning streak to recover my lose but when I’m in bad mood, I usually increase my bet size equals to my total lose so that I can recover quickly.

What do you typically do when you are on chasing loss situation?

In your bad mood, what if you increase your bet size to the total loss and win that bet ? This means that now you loss will be double.
Same if you bet the same amount, you can lose another bet and it will pile up your losses. In my point of view, both these choices are not good because you are in fact chasing your loses.

As per main personal experience if you start to chase the losses on the same day you will never succeed. The best bet is that you stop playing for the day and come back again to gambling after a day or two with a fresh mind and fresh emotions. Maybe luck changes and you start again on a winning streak.

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Quote from: Beparanf on February 15, 2023, 07:01:06 AM

I always have a dilemma when it comes to chasing losses in gambling. When I’m in the good mood, I preferred betting using the same amount multiple times until I hit a winning streak to recover my lose but when I’m in bad mood, I usually increase my bet size equals to my total lose so that I can recover quickly.

What do you typically do when you are on chasing loss situation?

Bet using the same amount multiple times.
Increasing bet size is almost the same as martingale strategy, and it might be working for others, but not for most of the gamblers especially for those who are chasing losses.

I've seen gamblers increasing their bet size, so that they can recover faster, but I would take the safer approach, and be disciplined. I did try that "increasing bet" strategy in the past, but I ended up losing all of my money. On the other hand, currently I'm trying to be disciplined, and not chasing my losses and so far, I'm having more success on that than increasing my bet size. I mostly bet on sports and statistics are very helpful in choosing your bets as it increases your chances of winning (at least for me) so in that way, I'm slowly recovering my past losses.

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Quote from: Beparanf on February 15, 2023, 07:01:06 AM

I always have a dilemma when it comes to chasing losses in gambling. When I’m in the good mood, I preferred betting using the same amount multiple times until I hit a winning streak to recover my lose but when I’m in bad mood, I usually increase my bet size equals to my total lose so that I can recover quickly.

What do you typically do when you are on chasing loss situation?

That is what called as revenge betting. You are basically taking revenge by betting more than you can afford to lose.
You are chasing the loss without controlling your emotions which eventually lands you in trouble.
What I do is when I lose 3-4 consecutive attempts to recover the loss then I prefer to stop gambling for the day and come back next day.
This is how I control myself from over gambling and stay in the limits.

Peanutswar

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In my opinion, this kind of gambling habit is quite expensive because you require every time you play to cover all of your losses which is not too ideal not all time can you recover from those losses unless you have a consistent bet until you reach the previous losses. Instead have a great strategy even not the same bet just until you reach the amount you are goal.

Quote from: btc_angela on February 16, 2023, 08:48:00 AM

I guess the gambler in all of us, of course we wanted to chase our losses and bet double down on the next, martingale system. But we all know that the risk is huge so it's all in or go home mentality.

And I do hope that it will be like that, otherwise, if you lose again after a double down and you don't have any capital, you might think of depositing for more and that's where the problem arises as you might be addicted in chasing your losses.

I did the same thing chasing with the martingale and of course I just have a limited asset for game play end of the day it doubles my losses but it doesn't mean its applied to others too.

Synchronice

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Quote from: Beparanf on February 15, 2023, 07:01:06 AM

I always have a dilemma when it comes to chasing losses in gambling. When I’m in the good mood, I preferred betting using the same amount multiple times until I hit a winning streak to recover my lose but when I’m in bad mood, I usually increase my bet size equals to my total lose so that I can recover quickly.

What do you typically do when you are on chasing loss situation?

Are you damn serious? It's casino, how can you aim to hit a winning streak to recover? What if you don't recover? Are you going to lose your whole balance?
If I were you, I would dedicate certain amount of money for gambling and wouldn't care about win/lose ration. It would be better for my mood, better for my budget and better for everyone.
Just my piece of advice: If you have been gambling for money for a while and find it difficult to stop yourself alone and do double bet and similar budget destroying things, just write down the plan that if the balance reaches X amount, you'll just turn off the game and don't gamble that day! Remind this to yourself, stick with your plans. If you feel nervous, just go to the GYM and spend your energy there.

btc_angela

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I guess the gambler in all of us, of course we wanted to chase our losses and bet double down on the next, martingale system. But we all know that the risk is huge so it's all in or go home mentality.

And I do hope that it will be like that, otherwise, if you lose again after a double down and you don't have any capital, you might think of depositing for more and that's where the problem arises as you might be addicted in chasing your losses.

mvdheuvel1983

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Quote from: Beparanf on February 15, 2023, 07:01:06 AM

I always have a dilemma when it comes to chasing losses in gambling. When I’m in the good mood, I preferred betting using the same amount multiple times until I hit a winning streak to recover my lose but when I’m in bad mood, I usually increase my bet size equals to my total lose so that I can recover quickly.

What do you typically do when you are on chasing loss situation?

One of the root causes of gambling addiction can be traced to down to chasing losses. It is like the hangman's noose.
In my conversations with gambler's, some prefer to bet twice, and some others prefer to double down bet with the intention to recover the initial loss which they know is difficult to achieve but can found a way to convince themselves that it is possible.
Once, I double down bet and ended up incurring more losses. I learnt from personal experience that double down bet is way worse than betting twice as your chances of incurring more losses becomes high. Always know when to walk away, you would leave to fight another day.

Taskford

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Quote from: Davidvictorson on February 16, 2023, 04:32:26 AM

Quote from: Beparanf on February 15, 2023, 07:01:06 AM

What do you typically do when you are on chasing loss situation?

However, sometimes, not all the time, even non-compulsive gamblers let their emotions get the best of them. I am guilty of this. Whether we choose to admit it or not, it is not all the time that we gamble for fun; sometimes, but not all the time, we actually gamble to win despite knowing that the odds are against us. It is at this point that we chase our losses. During this time, I wager the same amount multiple times until I finally hit a winning streak, and even if it's just a 5% increase over my initial wager, I leave happy.

Even if we called ourselves as well disciplined gamblers still there are time that we are out of focus and sometimes commit mistakes like this. Its normal reaction since sometimes our pride over powered us then we want our losses to return back on our wallets. But what good thing about that is we learn a lesson since for sure realization about things we do and mistakes we commit came up then next time we do more careful so that we can enjoy what we are playing.

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Quote from: Issa56 on February 15, 2023, 06:55:47 PM

Quote from: Beparanf on February 15, 2023, 07:01:06 AM

What do you typically do when you are on chasing loss situation?

I think the best thing is for you not to chase the loss, if you try that then you are likely to lose more money, you won't even be able to do your analysis well again, all what you will be after is just your win which at the end you might endup losing all your money. Whenever you are losing and you notice it's getting too much, just stop gambling for that moment and come back another time, if you want to use any strategy to win back your loss, then don't be suprise that you will keep on losing.

Stop and try to chill for a while,

you might find some breathing instead of chasing for your losses and continue to add more money to lose
when you already suffering from a bad losing streak. Something that is really hard to stop when you are getting aggressive to win
back those amounts that you are not willing to let go, you need to accept that inside gambling there's always a huge risk.

Davidvictorson

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Quote from: Beparanf on February 15, 2023, 07:01:06 AM

What do you typically do when you are on chasing loss situation?

We all know the inherent dangers of chasing losses. It always ends with premium tears. However, sometimes, not all the time, even non-compulsive gamblers let their emotions get the best of them. I am guilty of this. Whether we choose to admit it or not, it is not all the time that we gamble for fun; sometimes, but not all the time, we actually gamble to win despite knowing that the odds are against us. It is at this point that we chase our losses. During this time, I wager the same amount multiple times until I finally hit a winning streak, and even if it's just a 5% increase over my initial wager, I leave happy.

Plaguedeath

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Chasing losses in gambling is a bad idea because you will end up lose more and then blame yourself for did that. You will not be happy and enjoy during your gambling session, you might ask for loan in order to chase all of your losses that you use all of your money.

Just gamble what you can afford to lose, no need to force yourself to make money through gambling because you will not always lucky.

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Quote from: Beparanf on February 15, 2023, 07:01:06 AM

I always have a dilemma when it comes to chasing losses in gambling. When I’m in the good mood, I preferred betting using the same amount multiple times until I hit a winning streak to recover my lose but when I’m in bad mood, I usually increase my bet size equals to my total lose so that I can recover quickly.

What do you typically do when you are on chasing loss situation?

It seems that the conditions are the same, a calm mind can make players think better about setting a strategy to increase the bet amount or stay but sometimes players get frustrated so they often make the wrong decisions, sometimes they don't just raise bets without good calculations but also often go all in because they think it's time , and I am a person who often does this all in when I'm chasing the loss, and it becomes a bad decision that makes all the balances run out.

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Quote from: tabas on February 15, 2023, 06:41:51 PM

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Quote from: Beparanf on February 15, 2023, 07:01:06 AM

What do you typically do when you are on chasing loss situation?

Crazy things such as betting with all that I've got and having that yolo mindset. It's hard to make that whenever I'm in tough situation in gambling because I want to chase my losses, my emotions are too high and it's uncontrollable.
I want to get as much as return as I want as soon as possible and that makes sense for me to bet one in a blow and play by having a yolo mentally for which sometimes ending up good but mostly, not.

Going all in is never been ideal whether you are dealing with investment, how much more with gambling? Cry

If you dont like to experience or suffer more deeper losses then you shouldn't be having this kind of habit but if you do have the money something needs to be burnt then its your choice.
Sometimes its really our emotions that do drives us to make some crazy moves and decisions in life.

So its a personal choice whether on how you do make out your bets.

It's really not an ideal thing but if you are in the situation, as I've said that we can do crazy things and those are just a few from the lot possibilities that you can do.
Well, you're all right that it's a matter of personal choice and we're all grown ups to understand what will be the potential outcome of it. We just can expect that it might quite good at the end but then the result varies.

When we are engaging on something which isnt just limited to gambling alone but also in other aspects in life which does need that making up a decision then it would really be that crucial whether you would be doubling the risk to acquire something or would really just let it go and would be accepting for whatever results or outcome would be able to hit or acquire out.?
This is really just the same when you do gamble. Everything would varies on our decision if we do have something that we could still able to pay up and spend then go for it.
People's leisure contentment isnt really the same and this is why we do see different scenarios.

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Quote from: Beparanf on February 15, 2023, 07:01:06 AM

What do you typically do when you are on chasing loss situation?

I think the best thing is for you not to chase the loss, if you try that then you are likely to lose more money, you won't even be able to do your analysis well again, all what you will be after is just your win which at the end you might endup losing all your money. Whenever you are losing and you notice it's getting too much, just stop gambling for that moment and come back another time, if you want to use any strategy to win back your loss, then don't be suprise that you will keep on losing.

Topic: Chasing losses - Double down bet or Bet twice? (Read 420 times)