What’s the Deal with Chasing Losses?

Kia ora, fellow Kiwis! Online gambling can be a bit of fun, right? A cheeky flutter on the pokies, a hand or two of online poker, or maybe a spin of the roulette wheel. But sometimes, things don’t go our way. You lose a bit, then you lose a bit more. That’s when the sneaky habit of “chasing losses” can creep in. It’s when you try to win back what you’ve lost by betting even more, hoping for that big payout to get you back in the black. Sounds familiar? It’s a common trap, and it’s important to understand it to keep your online gaming experience enjoyable and, most importantly, safe. Before you start playing, consider checking out resources like https://winzcasino.co.nz/ to get a feel for responsible gaming and the types of games available.

Why Chasing Losses is a Bad Idea

Think of chasing losses like trying to fill a leaky bucket. You pour more and more water (money) in, but it just keeps draining out. Here’s why it’s a dangerous game:

• Emotional Rollercoaster: Chasing losses is fueled by emotion. You’re likely feeling frustrated, angry, or desperate. These feelings cloud your judgment, making you more likely to make impulsive bets.
• Increased Risk: When you’re chasing losses, you’re often betting more than you normally would. This increases your risk of losing even more money, digging you deeper into a hole.
• It Doesn’t Work: The harsh truth is that chasing losses rarely works. The odds are designed to favor the house (the casino). You’re more likely to lose more than you win.
• Financial Strain: Chasing losses can quickly lead to financial problems. You might end up spending money you can’t afford to lose, impacting your bills, savings, and overall financial well-being.
• Relationship Problems: Money troubles can strain relationships with family and friends. Hiding your gambling or arguing about finances can damage trust.

Recognizing the Warning Signs

Knowing the signs of chasing losses is the first step towards breaking the cycle. Ask yourself these questions:

• Are you betting more than you initially planned?
• Are you increasing your bets to try and win back losses?
• Are you gambling when you’re feeling stressed, upset, or bored?
• Are you neglecting responsibilities like work or family to gamble?
• Are you hiding your gambling from others?
• Are you feeling irritable or anxious when you’re not gambling?

If you answered “yes” to any of these questions, you might be falling into the trap of chasing losses.

Strategies to Break the Cycle

It’s not always easy, but breaking the cycle of chasing losses is absolutely possible. Here are some strategies:

Set a Budget and Stick to It

Before you even start playing, decide how much you’re willing to spend. This is your gambling budget. Treat it like any other budget item, like groceries or entertainment. Once you’ve spent your budget, stop playing. Don’t be tempted to dip into other funds.

Set Time Limits

Just like a budget, set a time limit for your gambling sessions. This can help prevent you from getting carried away and spending too much time (and money) playing. Use a timer if you need to.

Take Breaks

Regular breaks are essential. Step away from the computer or your phone. Go for a walk, grab a coffee, or do something else you enjoy. This gives you time to clear your head and avoid impulsive decisions.

Avoid Gambling When Emotional

If you’re feeling stressed, angry, or upset, gambling is probably not a good idea. These emotions can cloud your judgment and lead to poor decisions. Wait until you’re feeling calmer before you play, or better yet, avoid gambling altogether when you’re not in a good headspace.

Don’t Chase Losses – Accept Them

It’s okay to lose. It’s part of the game. Accept your losses and move on. Don’t try to win them back immediately. This is perhaps the most difficult step, but it’s crucial. Remind yourself that you’re playing for entertainment, not to get rich quick.

Use Self-Exclusion Tools

Most online casinos offer self-exclusion options. This allows you to temporarily or permanently block yourself from accessing their site. It’s a powerful tool if you’re struggling to control your gambling.

Seek Support

If you’re finding it difficult to control your gambling, don’t hesitate to seek professional help. There are many resources available in New Zealand, such as the Problem Gambling Foundation and the Gambling Helpline. Talking to a therapist or counselor can provide you with support and strategies to manage your gambling habits.

Where to Get Help in New Zealand

If you think you might have a problem with gambling, or if you’re concerned about someone else, there are resources available to help in Aotearoa:

• Gambling Helpline: 0800 654 655. This is a free, confidential phone service available 24/7. They can provide support, information, and referrals to other services.
• Problem Gambling Foundation: Offers counselling, education, and support services throughout New Zealand. Visit their website at pgf.nz.
• Te Hiringa Hauora: A government agency that works to promote public health and wellbeing. They have resources and information on gambling harm.

Conclusion: Stay in Control, Stay Safe

Breaking the cycle of chasing losses is about taking control of your gambling habits. By setting a budget, setting time limits, taking breaks, and avoiding gambling when emotional, you can enjoy online gaming responsibly. Remember, gambling should be a form of entertainment, not a source of stress or financial hardship. If you’re struggling, don’t hesitate to seek help. Kia kaha, and enjoy your gaming responsibly!