Bouncing Back After a Big Loss or Losing Streak

Unfortunate as it may be, there really is nothing truer. That being – if you intend to gamble on a regular basis, it is inevitable that you are going to lose at some point. Of course, exactly how much or how regularly you lose is something that will vary significantly from one person to the next. But at the same time, it is borderline impossible to avoid occasional heavy losses and losing streaks.

Both of which can see you walking away with a rather severe financial hangover.

In any case, it’s all part and parcel of the experience. The most successful and experienced gamblers in the world will tell you that knowing how to lose like a pro is just as important as knowing how to win. Which means that the better your ability to deal with losses, the more likely you are to ‘succeed’ as a gambler.

And by succeed, what we mean is have a good time and stay safe.

Losing is never a pleasant experience, but is one every gambler needs to acknowledge, accept and deal with from time to time. So rather than simply beating yourself up and feeling sorry for yourself, you may as well take a proactive approach to the whole thing. Which is precisely why we thought we’d share with you a few of our own hand-picked tips for bouncing back after a big loss or losing streak.

It’s going to happen sooner or later, so when it does, you may as well do the following to reduce the pain of it all at least slightly:

Accept Responsibility
First of all, one of the most common responses to these kinds of scenarios is that of blaming absolutely anyone and everything other than yourself. The simple fact of the matter being that regardless of what happened, it was you who made the decision and therefore got yourself into this position in the first place. It could have seemed like the most obvious and fool-proof wager on the face of the earth, but remember – nobody forced you into it. And even when there is only 0.001% chance of losing, this still represents a chance. So even if it seems as if you really were dealt the most hideous of hands by lady luck, you still need to accept responsibility for what happened and stop blaming others.

Can the Self-Pity
It’s largely inevitable that you will be feeling pretty sorry for yourself – a sinking feeling in your gut that may be difficult to deal with. Nevertheless, you need to think carefully about whether or not you really have any right to feel sorry for yourself – if being painfully realistic. Referring back to the point above, the only instance in which you really have the right to feel sorry for yourself is if something unfortunate happened that you had no way of stopping. In this instance, the problems you are facing are entirely down to your actions and your decisions alone. Which in turn means that feeling sorry for yourself and playing the victim really doesn’t come into it. It’s natural and inevitable that you will feel sorry for yourself initially, but the quicker you get this under control and accept it for what it is, the faster you’ll bounce back from your negative experience.

Acknowledge What Went Wrong
In the wake of a negative gambling experience, there are technically two things you can do. One option is to bury your head in the sand, pretend nothing happened and simply hope the whole scenario will not play out once again. Which tends to be the most common approach by a pretty huge margin. Alternatively, you can think carefully about what went wrong, analyse why it is that you have ended up in the position you are in and determine exactly how you can avoid it in the future. Once again, the important thing to remember is that in the world of gambling, there is no such thing as 100% guaranteed wagers at any time or at any level. If anything, it is good to occasionally be reminded of the fact that what seems like a guaranteed winner isn’t always as it appears. Think about why it is you lost, consider what you could have done differently and try to ensure you don’t make the same mistake again.

Hold Off as Long as Necessary
If you are dealing with relatively heavy losses, you might want to take into account the financial aspect of the whole thing. For example you typically allocate yourself £200 per month for gambling in general. If you lose the whole thing on the first day of the month, you might be tempted to simply pretend it didn’t happen and reset your balance to £200. Which isn’t a good idea at all, given the way in which your judgment will most likely be clouded for some time at least. But what you need to understand is that if a heavy loss means that you have to hold off for some time before getting back into gambling, this is technically your ‘punishment’ for getting things wrong in the first place. The whole idea of a loss and the concept of learning from losses being that consequences are part and parcel of the equation. So unless you have plenty of credit left in your gambling budget, stay away for as long as necessary.

Don’t Chase Your Losses
Last but not least, perhaps the single most important rule when it comes to gambling losses in general is to never, under any circumstances even think about chasing them. In some instances, the temptation to dive straight back into things and attempt to win back at least some of what you have lost can be overwhelming. Unfortunately, this turns out to be the biggest mistake you can make in about 99.99% of instances. Your judgment will be clouded, your ability to make logical decisions will take a hit and your desperation to win back the money you have lost will steer you in entirely the wrong direction. No matter how much you have lost and however confident you are that you can at least make a dent in your losses, don’t do it…EVER!

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