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Coping with Gambling Loss: Learn How to Recover

- May 7, 2020 By Riley Wilson -

learn to cope with a gambling loss

You should never chase your gambling losses.

When it comes to playing casino games, there is one golden rule: you win some, you lose some. No one is immune to gambling losses and the amount you lose depends mainly on your playing style. Each loss, no matter how large it may be, can demotivate the player. If you have recently experienced a significant gambling loss, stay with us to learn how to cope with it and recover as soon as possible.

Stop Chasing Your Losses

One of the biggest mistakes gamblers make is chasing losses. If you are on a losing streak, that’s the last thing you should do. Whether you are a penny punter or a high-roller, trying to recover your loss immediately after you have experienced it will do you no good. Instead of trying to get back the money you have lost, a better option would be to take a break. Quit playing casino games immediately and find another form of entertainment. Try to combat negative thinking and find an activity that will distract you from thinking about the loss. Make sure that the break lasts as long as you need to get over the incident.

Set Your Budget and Limits

Losing the money you couldn’t afford only worsens the overall situation. If this has happened to you, consider it as a red flag you need to pay attention to. We are aware of the fact that one can easily get swept away when playing favourite casino games. Still, overspending can be detrimental to your budget. That’s why it is of the utmost importance to set your bankroll as well as win and loss limits and stick to them. Keep in mind that proper money management is the key to success.

Reconsider Your Gambling Habits

Once you have accepted your loss and set your new bankroll, you need to reconsider your habits regarding gambling. You may study the games you have played and you have lost most of your money at. If you like to play high volatility slots, maybe you should consider playing those of medium or low variance. Or, you can go for skill-based table games where proper strategies can help you beat the house. Consider learning to play the games based on skill as they provide you with higher odds of winning when played according to basic strategies.

Also, think about how much time and money you have spent while playing casino games. You may find out that you have played longer than you have planned to or you have wagered more than you could afford. Moderation and self-discipline can help you take control of your gambling habits and turn your favourite pastime activity into a source of entertainment instead of worries.

Signs of Problem Gambling

If you have realised that you have gambled all your money away compulsively, you may have a gambling problem. The first thing you should do about it is to confess it to yourself. That may not be the easiest thing to do, but once you do, you can tackle your problem. The good news is that there are organisations that can help you deal with it. Don’t hesitate to turn to them and ask for assistance.

Explore all the options and take action as soon as possible. Once you find the organisation you like, sign up with it and put maximum effort into combating the problem you have. If you think you cannot deal with an urge to play casino games, use the self-exclusion program until you feel you can handle the problem and enjoy online gambling again.

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