Hi everyone,
Here actually is my finding on why people chase loses in gambling, do you know that it's natural for a gambler to chase after his or her loses? Well, if you don't know, now you know, it is natural in the sense that ; the desire is inbuilt, it is we ourselves that learn to put or subject the desire to our control, same way it is natural to feel bad when you lose a bet, but you can be happy if you choose to, and can control your emotion.
One of the reason why many gamblers naturally chase after their lose is due to one thing that is built into every game known as the "near miss effect", after every loss, a near miss effect makes our brain believe that a win is very close, and this automatically makes the player to keep playing and playing, even while he or she is losing, his or her brain convinces itself that a jackpot is just around the corner, this makes the player keep playing until he or she discovers that his or her bankroll is empty, this is when anger and regret usually sets in, you begin to feel like you were not really yourself all that time you were gambling, like you were hypnotized or something, and you only regained consciousness of yourself when you have already gambled all your money away.
This has happened to me few times, and from it, I've leant to always be conscious of myself and my decisions while gambling, making sure I do not allow my brain to deceive me into believing that my losses is because a win is around the corner, making me to gamble way more than I've planned to.
So, from your own understanding, what do you think makes people chase loses aside greed which I believe many of us are already familier with?.
Carrot in a stick approach. The thing is that casinos have this tendency to play things off as if they are fair to the player and they can gain their losses whenever they tank some. Casinos may not fully say or show it but it definitely is there. As we all know though, this couldn't be further from the truth when we start to realize that the casino impose house edges and RTP settings when in an ideal setting, wins should always be on a 50/50 setting.
Now, when I say carrot on a stick, what I mean to say is that casinos dangle this prospect of winning back their losses in the faces of their hapless players like a carrot on a stick, add to this the fact that the common gambler doesn't have the self-discipline required to avoid being tempted to answer to this, and you get yourself a gambler that continuously chases losses with no real hope of earning back what they have already let go their hands of.
It's fucking sad but it's the reality, and I don't mean to put the blame on the casino but it's just the truth.