Myth Monday: Chasing Your Losses

There are many common misconceptions about gambling that can lead to risky gambling behavior. Every other Monday, we’ll debunk these myths to help keep you and your loved ones playing responsibly.

Today’s Myth: If I lose at first, I can eventually win it all back if I keep gambling.

The truth about gambling is that you are going to lose. You may start out by winning, but eventually you’ll start to see the losses piling up.

Every game you play has a statistical probability against you winning, and the odds reset after every game you play. What has happened in the past will have no impact on your next game.

While this house advantage doesn’t mean that you can’t win, you probably won’t. Not in the long run, anyway. That’s why it’s important to treat money for gambling as budgeted-for entertainment, and remember that gambling is a game of chance.

And never keep gambling to try to win your money back. This is called “chasing your losses,” and it is a sign of problematic gambling behavior.

If you choose to play, remember to always play it safe. If you think you or your loved ones are engaging in problem gambling behavior, like “chasing your losses,” call the Problem Gambling Helpline at 1-800-522-4700. Confidential support is available 24/7.