"How'd you get those claw marks..?"
What's the Tactic?
Sports betting companies are acutely aware of one of gambling's most dangerous psychological phenomena: chasing losses. It's the desperate urge to bet more money in an attempt to win back what has already been lost. Unlike most industries where a bad experience leads to customer churn, in gambling, losses often perversely increase engagement. Betting agencies rely on this irrational thinking, knowing it's like riding a tiger – they want you to get eaten. When a bettor thinks, "I've come this far, I can't quit now," betting agencies see an opportunity. This is precisely why a loss is often immediately followed by a nudge message or notification to that same bettor, encouraging them to "give it another go" or "get back on track."
Why It Works?
The "I'll get it back on the next bet" mindset is a powerful psychological trap, rooted in several cognitive biases and emotional drivers:
- Sunk Cost Fallacy: This is a core driver. When individuals have already invested a significant amount of money (the "sunk cost"), they feel compelled to continue investing more, believing that further commitment will somehow salvage their previous losses. The idea of "walking away" feels like the invested money was wasted, leading to the irrational decision to throw good money after bad.
- Gambler's Fallacy: After a string of losses, bettors often succumb to the gambler's fallacy, believing that a win is "due" or that their luck is about to turn. They mistakenly think that past independent events influence future probabilities, leading them to increase stakes or bet more frequently. The human brain seeks patterns even where randomness prevails.
- Near Misses: "Near misses" – where a bet almost wins – can be particularly potent. They reinforce the idea that success is just around the corner, fueling the desire to chase, as they are interpreted by the brain as proof of skill or impending success rather than simply a loss.
- Emotional Highs and Lows: Losses evoke strong negative emotions – frustration, anger, despair. The act of chasing is often an an attempt to escape these negative feelings and experience the temporary emotional high of a potential win, even if fleeting. This emotional drive overrides rational financial planning.
- Availability of Funds & Immediate Opportunities: Online platforms make it dangerously easy to deposit more funds and place new bets instantly, feeding the impulse to chase losses without a cooling-off period. The constant stream of betting opportunities prevents reflection.
What's the Impact?
The impact of chasing losses is devastating for individuals and directly translates into increased profits for betting companies.
- Escalation of Financial Losses: The "I'll get it back" mindset inevitably leads to longer betting sessions, more frequent bets, and significantly higher stakes. This accelerates financial losses, quickly draining savings, leading to debt, and causing severe financial distress. Research consistently shows that loss chasing is a core feature of problematic gambling and is strongly associated with increased gambling expenditure and severity of problems (see Further Reading).
- Compulsive Behaviour: The act of chasing often becomes compulsive, driven by an overwhelming urge that overrides rational decision-making and self-control. This contributes directly to the development or worsening of gambling addiction.
- Deepening Emotional Distress: While initially a coping mechanism, chasing losses ultimately leads to deeper feelings of guilt, shame, anxiety, and despair as losses mount. This can impact mental health, relationships, and overall wellbeing.
- Disguised Profit Strategy: What appears to be an individual's poor decision-making is, in fact, a calculated strategy by betting companies. Their platforms are designed to facilitate and encourage chasing, knowing it's a primary driver of their long-term revenue.
What to Watch For
Recognising the signs of chasing losses in yourself or others is crucial for taking back control:
- Increasing Bet Sizes After a Loss: Immediately placing a larger bet to "make up for" money just lost.
- Feeling Compelled to "Win Back" Funds: An overwhelming urge to keep betting after a loss, even when you know you should stop.
- Disregard for Budget: Blowing past your pre-set limits or dipping into funds meant for other purposes (bills, rent, etc.) to continue betting.
- Intense Emotional Response to Losses: Experiencing significant anger, frustration, or despair after a loss, which then drives you to bet more.
- Betting Agencies' Nudges: Notice if you receive messages or promotions directly after a loss encouraging you to bet again.
Remember, these tactics are sophisticated, and they are designed by experts to influence your behaviour.
You’re not alone, and it’s not on you. These tactics are designed to keep you betting, but you can take back control. Head to beingplayed.info or call 0800 664 262 for free, confidential support.
Further Reading:
- Newall, N. E., Russell, A. M. T., Hing, N., & Vitartas, P. (2021). Why Do Gamblers Chase Losses? A Review of Psychological and Behavioural Explanations. Journal of Behavioral Addictions, 10(3), 563-577.
