How to Recover from a Big Gambling Loss – Experience Costs Money

In this article, you will learn how to recover from a big gambling loss. First, we will start by identifying the main reasons and factors that set players on that dangerous path of heavy losses and developing a gambling addiction. After that is done, we will carry on by looking into different ways and methods that will assist you in coping with gambling losses.

The Usual Path to Significant Gambling Losses

We are all gamblers, and we have all been there. Of course, the exact definition for “significant gambling losses” is quite subjective, and the monetary borders vary depending on who is playing. Whether losing £500, £10,000, or £100,000 is a lot for us, the exact behaviour and path towards havoc is usually the same, or at least similar.

We first enter the gambling building or log in to one of the top online casinos. We get our chips, deposit funds online, grab a drink either from the bar or the fridge and head to pick a game. The chances are that you are not one of the luckiest people in the world, and during a particular gaming session, the gambling gods simply decide for you to lose.

You lose a hand or two; thus, you decide that you will cut your losses and go home before it’s too late. Unfortunately, that is not how it usually goes, is it? We all have different methods regarding how to cope with gambling losses, but normally, we just go for another game, and then another, until the ship has completely sailed away.

At this point, some of us stop, while others carry on their gambling spree. It is scientifically proven that gamblers not only get a rush of adrenaline when scoring a win but also when losing. The thrill of uncertainty in gambling is a solid factor that motivates players to keep gambling.

For example, no matter if poker is a game of skill or luck, some compulsive players would continue to play in the hope of recovering from gambling losses. In their eyes, they are constantly just one bet away from winning the jackpot. Let us look at two instinctive behaviours in getting over gambling loss.

Chasing Losses

The first way of definitely not how to recover from a big gambling loss is to continue “chasing the losses”. When some gamblers lose a couple of times in a row, they do not hold their horses. Instead, they starkly believe that since they have lost consistently, the big win is just around the corner.

This is a very dangerous mindset and is the opposite of what the blackjack strategies advise. Truth be told, chasing losses is the reason why some people struggle with how to cope with gambling loss. After a few unlucky tries, these players realise that their spree has resulted in huge losses and are determined to win them all back. Of course, such attempts are usually not successful and might result in even more colossal depletion.

Post-Loss Speeding

Another common unsuccessful practice in coping with gambling losses is the so-called “post-loss speeding”. After a big loss or a continuous stream of failures, some gamblers begin to quickly bet one time after another.

That behaviour is due to personal frustration prompted by the defeat and an instant attempt to win back the lost money. Instead of getting more cautious about their budget, the post-loss speeding often makes gamblers more impulsive and even reckless. If you read any of the top-rated gambling books, you will see that they often advocate exactly against that sort of behaviour.

How to Recover from a Gambling Loss – Step-By-Step Guide

We all have experienced a gambling loss in our gaming careers. Truth be told, “loss shouldn’t be in a singular”. To a casual player, having a few unsuccessful hands or spins would not ruin the fun. The sum of money lost would be so neglectable that such games would not have any negative effect.

In comparison, some players who experience difficulties related to their gaming habits will probably have an issue recovering from gambling losses. For that reason, we have prepared a list containing some of the most common strategies on how to cope with gambling loss.

In the following sections of this article, we will closely look into each of the listed steps. Therefore, let’s find out how to recover from a big gambling loss.

Take a Break from Gambling

Just like with cigarettes and any other sort of addiction, tackling the problem straight out and completely cutting the unwanted from your life is always a decent option. But first, you need to be honest with yourself. If gambling has become problematic for you, ending your real money gaming temporarily or permanently are two options that should be considered.

We should note that “Self-Exclusion” and “Time Out” are great features for regulating your own gambling activities and are offered by many of the top online casinos. But, we will talk more about that in a later section.

Control your Spending Habits

Perhaps, this step of finding how to recover from a big gambling loss is among the essential ones. You must always control how you spend your finances. We always advise players to consider their gaming budget and never exceed it.

However, if such occurrences happen regularly on your casino ventures, you must take extra precautions. For example, you can set limits on your cards and accounts or provide a family member with control of your accounts.

Self-Exclusion or Time Out

Like we briefly mentioned earlier, “Self-Exclusion” and “Time Out” are two great website features that many of the top real-money online casinos have. Going through with either option will temporarily restrict you from online gambling.

If you are considering self-exclusion, you may wish to go for the UK’s GAMSTOP service, which will prevent you from accessing all online gambling companies licenced in Great Britain. That means that for your selected timeframeonline gambling will be unavailable. Of course, you will be able to reverse the restrictions once feeling better.

Join a Responsible Gambling Community

One of the best practices for responsible gambling is joining a responsible gambling community. Among the most famous responsible gaming organisations, you will find GamCare, GambleAware, Responsible Gambling, Gamblers Anonymous, and Gambling Therapy. For your convenience, we have included some of them in the table below.

Entering a gambling-related support group is an important step as you share your experience and problems with addiction. A lot of bravery and courage are needed to go through with this attempt to recover from gambling losses. Additionally, being a part of such support groups and communities will allow you to read their material and gain more knowledge on the subject.

After all, talking in front of other people about your issues and facing them head-on is not easy. However, we should keep in mind that those responsible gambling communities and groups are specifically made for people with addiction issues to find help. Therefore, newcomers can rest assured that they will be met with hospitality and trust.

Reach out to Medical Help

Once a part of a responsible gambling community, you will most definitely join a support group or get a sponsor. You can share with them and be held accountable if you slip into some bad behaviour. Nevertheless, if this step also proves to be unhelpful, it might be time for you to find some professional medical help.

There are residential treatment centres made specifically for such occasions. They are usually secluded facilities where patients have all the needed support and resources to heal from the routine everyday life environment with gambling. Additionally, the staff working in such locations are trained and taught to offer the best possible medical help to those getting over a gambling loss.

Recovering from Gambling Losses – Conclusion

Suffering from not knowing how to recover from a big gambling loss is a significant issue that can be found anywhere around the globe. Fortunately, there is plenty of helpful material players can use available at responsible gambling organisations. If you struggle to get over gambling loss, try our tips and suggestions, but if the situation is getting out of hand, be sure to look for appropriate assistance.

FAQ

Thus, we have reached the end of our informative blog post on how to recover from big gambling losses. We hope we have managed to provide insight into this remarkable topic. To wrap things up, we have selected some of the most frequently asked questions and answered them for you.