There is no way of knowing whether you will win or lose the next round.
Butprobability and mathematicswould say otherwise.
The majority of the time you quit after losing, it feels more frustrating than something truly devastating.
It is quite a dangerous slope towards pathological gambling and even addiction.
With the right disposition and realistic expectations, you will negate the danger of ending up with heavy losses.
Plus, you will be better prepared to learn when to quit while you are ahead.
But the degree to which you anticipate a win or loss depends wholly on how risky your bet is.
Your chances of winning are far shorter than a Red/Black bet covering 18/37 segments on the wheel.
No one really has realistic expectations of winning the lottery, as fantastic as it could be.
Frequent losses may build your stress levels, but you may experience occasional wins to reset the levels.
At the start of your gaming session, the dopamine regulation and anticipation responses are fresh.
How Loss Aversion Works
Casino gamesplay with your psychology.
After experiencing a bit of both and playing for a good long while, the sentiment will inevitably change.
Wins will not feel as good unless they are either significant or form long streaks.
Loss aversion is the phenomenon when the thrill of winning doesn’t match the remorse of losing.
As yourdopamine levels fluctuatethrough your gaming, you will need bigger wins to build on the highs.
Or, if you are trailing, you may feel the wins are too late and not enough.
Whereas the losses just pile on your frustration and stress levels.
The Danger of Early Wins
Imagine triggering a bonus round within 20 rounds on a slot machine.
Theslots bonus roundsuddenly gifts you a lump sum of money, sending your dopamine levels through the roof.
So you set your target on hitting another bonus round.
You won’t really feel the same highs as before.
Playing Catchup and Overdue Wins
Conversely, losses will not reduce in amplitude but only grow bigger.
Let’s say you are down 10% of yourbaccarat bankrollafter the first 50 hands.
The game has lots of variance, and right now it hasn’t worked in your favour.
Any wins from that point onwards will feel overdue, and as if you are just playing catchup.
Common Ways We Rationalize Losses
The way we deal with these losses will also change after time.
In the beginning, most players belittle losses and accept them as part of the game.
While that may happen, there are no guarantees that the actual outcomes will properly reflect the statistical probabilities.
It attempts to figure out the frequencies of wins and the point at which the outcomes match the probabilities.
In theory, the more rounds you simulate, the closer you will get.
As it will rule out any statistical anomalies andthe variancewill gradually reduce.
But even then, the odds are still not in your favour.
The house has an edge, which it takes by cutting out a small percentage of your wins.
The implied probability therefore becomes greater than the actual probability of winning.
It doesnt just comprise trying to read patterns or look for combinations of frequencies.
Outcomes can still be random even if they repeat themselves or occur more frequently than the probability would state.
But there is also a possibility that you would win all 10, or none at all.
But what happens in one round has no bearing on the next.
Chasing Losses
The results are always random in any casino game you play.
Card games use multiple decks and shuffle them to ensure fairness.
Plus, after a portion of the shoe is used, dealers generally reshuffle the cards.
However, the games and gaming environment aredesigned to make you want to play more.
Especially when you are losing.
And players who are hyped up and making impulsive decisions may feel the urge tochase their losses.
Thinking Your Tactics Are Unbeatable
You need a good plan to stick to when playing casino games.
But having a strategy doesnt mean you are bound to win.
You basically overestimate your chances of making a profit.
But you may never get the chance to quit on a high.
And then you end up chasing your losses.
And that they have a direct influence over the outcome of a hand.
Whereas in actual fact, the outcomes arecompletely random.
If the Dealer has 7 and you have 16, mostblackjack strategieswill tell you to hit.
But if you hit and draw 10, you go bust and lose.
In these games, it is easier to feelgamblers remorse.
After all, if you had decided differently you may have won the game.
It is not your fault that you lost, nor is it the houses.
But you are responsible for taking control and calling it quits before you overspend.
And as for the feeling of losing.
The best remedy is to take a break and come back when your dopamine regulation has balanced out.
Then, you are ready to test your luck once again.
Daniel has been writing about casinos and sports betting since 2021.
