Tips on How to Recover From a Big Gambling Loss

Tips on How to Recover From a Big Gambling Loss

A gambling loss is something that everyone experiences, but no one wants to talk about. If you deny losing bets, then you are not a serious gambler looking to be a long-term winner. Anyone offering sports betting tips and picks online suggesting they don’t lose, run far away.

It’s just as important to learn how to lose, as it is to learn how to win as a gambler.

What do you mean by learning how to lose? If you want to be successful, being aware of how to recover from a gambling loss is important. Yes, there is a proper way to act after a big win as well.

PRESS YOUR BETS?
We’re not spending much time on what to do after a big win, but just a disclaimer: don’t go wild and overly excited. You might soon be reading up on what to do after suffering heavy gambling losses if you believe it will always be that easy.

Gambling losses are all part of the game, so get used to it if you are new to betting. Does this mean you are going to be a losing gambler?

No, to be a winner, you need to know how to recover from gambling losses the right way. This is a marathon and not a sprint.

If you warn to learn more about gambling losses and how to recover properly, head below for our top tips for recovering from a big gambling loss.

How to Recover From a Big Gambling Loss

A big gambling loss is never a good feeling. If you’ve gambled for long enough, a blog loss is hard to avoid at least once or twice.

This is why we recommend only betting 1-3% of your bankroll per bet. In this case, 3% is considered your “big” bet. You’ll never get yourself into trouble if your bankroll is managed well.

Take Your Mind Off Gambling

It’s important to separate yourself from gambling as quickly as possible after a big gambling loss. Do anything that isn’t gambling related.

Do you like taking walks? This is a good one to get some fresh air and remove yourself from the online casino or sportsbook. The worst thing you could do is sit there looking at your computer or phone.

GET OUT OF THE HOUSE
Taking your mind off gambling is easier when you aren’t in the same environment as where you suffered your loss. There are more distractions out in the real world to keep your mind off gambling.

What you do is completely up to you, though. As long as it isn’t self-destructive behavior that could make things worse, go and do something that will take your mind off the gambling loss.

Delete Gambling Apps

This is an additional method to separate yourself from gambling. A lot of us have gambling apps on our phones for convenient access.

Having a casino in your pocket can be a blessing and a curse. Following a big gambling loss, it is a good time to ditch gambling apps.

It’s too easy to fire up the gambling app and hit the deposit button. Many people are tempted to try and recoup their losses by chasing. There couldn’t be anything worse than going into chase mode.

A big loss could quickly turn into gambling losses that you can’t dig yourself out of, including your life bankroll for food, rent, and mortgage payments. It happens.

Note: your account will not be deleted by removing the app from your phone.

While your account will still be active, this puts up a barrier between you and being tempted to chase your losses. If deleting the app isn’t enough or you use your computer, follow our next tip to recover from a gambling loss.

Take a Break From Gambling

When we say take a break, this means taking an extended break and not just going for a walk. Recovering from a big gambling loss often requires taking a long break away from the game.

Is deleting gambling apps not enough? What if you don’t even use a smartphone for your gambling? Contacting customer support of your online casino can help.

Imposing a self-imposed timeout on your account is possible. If you need a month or a few months, customer support can freeze your account to give you time away from gambling.

The goal here is to not think about gambling, so you can go back with a fresh mind and approach in the future.

Your emotions will be under control much better after returning instead of going back to gambling immediately. The length of your timeout will depend on how much you lost. If it’s impacting your living expenses, you must stay away for longer.

Consider Making Smaller Bets

When you are ready to gamble again, the intention isn’t to get yourself into trouble again. Your gambling bankroll is going to be smaller after a big loss, so you’ll have to adjust your bet size.

For instance, if your normal unit size for a bet is $100.00, then consider cutting it in half or more. TheSportsGeek advises betting a percentage of your bankroll (typically 1-3%).

In other words, your bet size is not going to be static. It will have to change and be fluid depending on how successful or poorly things are going.

If you want to recover from a gambling loss, you’ll have to swallow your pride and drop your units down to smaller bets. Over time, you can recoup your losses and build a proper bankroll. Going all-in and continuing to make big bets isn’t what professional gamblers do.

Implement a Bankroll Management Strategy

Okay, so, you learned your lesson and you don’t want to repeat your mistakes. What should you be doing instead of making big undisciplined bets?

Our definition of what your biggest bet should be is 3% of your bankroll. A normal unit should only be 1-2% of your gambling bankroll. This goes for any form of casino gambling and sports betting.

Betting 25% or even over 50% of your bankroll on one bet is foolish. It’s a quick way to ruin your bankroll. Bad runs are impossible to avoid, even for professional gamblers, so you can’t have success with this strategy.

It’s important to be strict with your bankroll management strategy. A well-disciplined and focused mindset is required to have success as a gambler, and it begins and ends with bankroll management.

Conclusion

How did that big gambling loss feel? It doesn’t feel good, at all. It’s the most miserable feeling for a gambler, so let this be a hard lesson.

It can be a very valuable lesson. In the long-term, you can use a big gambling loss as a reminder to not bet what your bankroll can’t afford.

If you use a big gambling loss as a teaching moment, then consider it a win. When you are ready to get back into the game and bet as a smart gambler, check out our list of top online casinos.

About the Author
Kyle Eve profile picture
Kyle Eve
Sports/Casino Writer
Blog and News
FaceBook Twitter
Kyle Eve is a seasoned pro of The Sports Geek. Since joining the team in 2012, Kyle, has covered some of the biggest sporting events in the world. From the Super Bowl and World Series to March Madness, the NBA Finals, Kentucky Derby, and many more, Kyle has provided reliable analysis for millions of readers. After dedicating himself to hockey and football in high school, Kyle placed his first sports bet on his 18th birthday. Since then, he has spent his entire adult life devoting himself to becoming the best sports bettor and casino gambler possible. Kyle is from Windsor, ON, Canada

Leave a Reply

Your email address will not be published. Required fields are marked *