We all walk into a casino hoping that we would make a lot of money, but losing happens the most, to our surprise. When such a thing happens, while it is hard for some people to keep their heads straight, others start placing another bet to recover the losses.
What Does Loss Chasing Mean?
When a gambler places a larger wager to recover the losses incurred after losing a bet, they are said to be chasing a loss. Although chasing losses is considered a poor strategy, people usually follow it. But to people who think and behave logically, even during emotional events from losing, it might seem strange behaviour because it destroys your wallet within a few minutes.
A person continuously chasing their losses is undoubtedly filled with anxiety, frustration, and worry of not recovering the lost money. For them, gambling is no longer fun as they focus on finding ways to rationalize the losses.
As you can see, some people can control their emotions even after losing money, which implies that it is not impossible to think logically and win after that. If you enter a casino the next time and lose money, try controlling the tension in your heart and the sickness in your gut. Think about the people who lose their heads, behave irrationally, and try not to imitate them.
How to Keep Yourself From Chasing a Loss?
- Avoid obsessing over trying to win back your losses and hoping luck will turn around.
- Avoid proving that you did not make the wrong decision by loss chasing.
- If you feel the urge of wanting to win your money back, take a break and do something that you enjoy. It could be watching a movie, listening to music, cooking, playing, etc.
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What Does the Martingale System Mean?
Suppose you’re losing money and feeling like an emotional wreck despite applying all the logic that you can think of; bless yourselves because there is a verified technique that you can use for chasing losses. The martingale system is a betting technique that allows the players to do the unusual thing in a casino, i.e., make profits!
According to the martingale theory, a player can never lose their money in a game if they double their bet after each loss.
You might think that you will have to incur a loss to make profits for this theory to work, but that isn’t the case. The idea suggests that when a player wins a bet, they win back all their lost money. So, there’s nothing lost and everything gained! However, in the real world, losing chasing by employing this system is not helpful because of maximum bets and limited bankrolls.
The martingale strategy was discovered by John Martindale in the 18th century, a casino owner. Although it is believed that he never employed this strategy while gambling, he encouraged his friends and other players to use it. So, what are the benefits of using this tactic while gambling?
How Can One Employ the Martingale Tactic in Real Life?
According to this straightforward tactic which is not so hard to use, you have to do a little math. As there are not so many calculations involved, you can enjoy playing while following your gut and using logic. The basic idea is to keep playing games with 50-50 outcomes of the win to loss.
If you want to use this tactic in real life, we’d suggest you play Roulette. It is the go-to game of most gamblers who have just started using this strategy. But remember to double the next bet after each loss to employ the martingale strategy correctly. And if you win, all you need to do is make smaller investments from now on.
For instance, if you start betting $5 and lose them all, your next bet should be $10. And if you lose that as well, your next chance should be $20, then $40, and so on. The basic idea is to double the last bet you incurred a loss. If you strike a win, go back to betting $5 again. Using this approach will surely help you make a lot of money in gambling!
Advantages of Using the Martingale Strategy:
- Allows you to make a lot of money effortlessly.
- You can use this strategy in all the games with a 50% win ratio.
- As there are fewer calculations, you can have fun while playing.
- Since it is a legal strategy, no one can write you a fine for using it.
- If you play Roulette, it will let you make a lot of money in a short time.
Disadvantages of Using the Martingale Strategy:
- It demands a lot of patience as you’ve to wait until you strike a win.
- If you want to make a profit, you need a massive bankroll.
- As there are no perfect conditions, some players get confused.
- The wager limit prevents you from playing as long as you want.
Final Words
Since you don’t want to waste loads of time and money on a futile tactic, so, it is worth knowing whether the martingale strategy will work or not. There are a few other things, such as how to approach it the right way, when to start, when to stop, and when you will make a profit. Knowing all these things will surely help you get the hang of this system.
You will indeed feel a little overwhelmed when using the martingale strategy for the first time. But do not quit using it if you want to become a pro gambler! Whenever you’re out of luck, employ this method, and you’ll have fun earning profits!