One more spin. One more hand. Maybe I can at least break even. For gamblers, this probably sounds familiar. The urge to win your money back can be overwhelming.
Around 33-40% of regular gamblers admit to chasing losses, according to a 2024 study. Even though the odds remain the same, it’s a common and costly temptation. So why do we keep falling into the same trap? Unsurprisingly, online casinos have created the perfect environment for triggering that impulse.
I’m going to explore what makes the urge to chase losses so strong and how gambling sites exploit the psychology behind this behavior.
What Does Chasing Losses Mean?
Chasing losses happens when a player continues to gamble after losing in an attempt to win back their money. There is no guarantee it will work, and it often results in even more losses. Why would anyone risk fanning the flames?
Losing hits more than your wallet. It affects your brain. Chasing losses stems from a potent mix of chemical reactions and psychological biases that can influence decision-making.
What Happens in Your Brain When You Gamble
Gambling stimulates the brain’s reward system, much like drugs and alcohol do. Hitting a win causes your brain to release a wave of feel-good chemicals called dopamine, leading you to associate gambling with a positive feeling.
However, the link is more complex than “winning feels good.” Near misses, when you almost win, provide a similar rush, making players feel exhilarated even when they’re losing.
In fact, some studies have found that the brain may release more dopamine when the outcomes are unpredictable. So, despite the potential to lose, the draw to continue playing is powerful.
Behavioral Biases That Lead to Chasing Losses
Not only is dopamine a major factor, but researchers also suggest that the drive to chase losses can be rooted in skewed thinking.
The results from an online survey of 10,838 internet gamblers from 96 countries showed that those who chased losses were more likely to have irrational beliefs about gambling. Here are some behavioral biases that can affect how people gamble.
Loss Aversion
Loss aversion is when the perceived pain of a loss is twice as powerful as the elation from a win. It can send gamblers searching for another win to remedy the negative feelings.
Gamblers Fallacy
The Gambler’s Fallacy is a common belief that you can predict future game events based on past ones. For example, if the ball lands on red in roulette ten times in a row, surely the next outcome must be black. This false hope can cause players to keep betting when, in reality, each spin is independent.
Illusion of Control
Many gamblers think they can influence the results of a game of chance. They may bounce to a different slot after it hits or bet higher thinking it increases their odds. The false sense of control can make gamblers more likely continue playing.
Sunk Cost Fallacy
The sunk cost fallacy is the mode of thinking that I’ve already invested so much in this. I might as well make it worth it. Players feel that quitting would make their losses meaningless, leading them to bet more and often worsen the situation.
How Online Casinos Use Psychology to Keep You in the Loop
The online casino industry knows how to manipulate players to keep them in a dopamine-seeking loop. Those colorful sites, memorable mascots, and incessant advertising are all designed to get your attention and keep it. Here are some of the other tactics they use:
- Non-Stop Instant Access: Online casinos are at your fingertips 24 hours a day, seven days a week, with instant deposits. You can access them on desktops and mobile devices, making it easier than ever to gamble.
- Constant Reminders: Gambling sites send push notifications, SMS messages, and emails, planting mental seeds to gamble even when you’re not actively playing.
- Rewards and Gamification: Most online casinos gamify the experience, offering you rewards or redeemable comp points for leveling up in their VIP system.
- Frequent Promotions: Besides providing various bonuses on their websites, many online casinos send you personalized promotions in your email. Some, like “cashback on your losses,” may encourage chasing behavior.
- Tournaments and Chats: Casinos use social aspects to encourage more play, such as slot tournaments and chats in games.
- Narrative Slots: Slots that have a strong narrative or immersive, video-game-like qualities often influence gamblers to play longer.
Break the Loop: What to Do if it Becomes a Problem
There is a strong correlation between chasing losses and problem gambling. While not everyone who chases a loss plays irresponsibly all the time, it’s one of the symptoms of gambling addiction.
If you feel like chasing losses is becoming a problem, or you just want to stay proactive, here are a few things you can do:
- Turn off Notifications: Nobody needs constant reminders to gamble. Tune out that unnecessary voice by turning off push notifications and disabling SMS messages from online casinos.
- Make a Budget: Before gambling, decide how much you want to spend, and do not wager a penny more. When it’s gone, you’re done playing for the day.
- Set A Limit on Your Deposits: Most gambling sites will let you limit how much you can deposit daily, weekly, or monthly. It’s a good place to start if you need to control your spending.
- Enact a Self-Exclusion: You can take a break by excluding yourself from an online casino for a few months or forever. Reach out to customer support for more information and they will help set you up.
- Use Available Resources: Programs like Gambler’s Anonymous and the National Council on Problem Gambling offer free help for anyone struggling with gambling addiction.
Read more about responsible gaming and available resources that can help with problem gambling.
Keep Your Head Out of the Game
Bottom line: Online casinos are out to make money. They use psychological strategies to get you to sign up and play. But just because you gamble online doesn’t mean you will fall into the trap of chasing your losses.
Awareness is key. Set a budget, take breaks, and if you ever find yourself tempted to win your money back, it’s time to log off.
As long as you stay in control of your actions, you can have a safe, fun gambling experience.
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