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Chasing your losses...

Discussion in 'Misc. Vegas Chat' started by BobLasVegas, Mar 24, 2017.

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  1. BobLasVegas

    BobLasVegas Low-Roller

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    You gotta know when to hold'em, know when to fold'em....
    But sometimes not!
    Who among us has not chased their losses? Usually to their dismay!
    I have. Much more than once.
    But the time that sticks with me is in the 4 Queens at the Double Bonus Progressive.
    I don't remember what I started with maybe $60 or $100...but I pushed it up to maybe $400...
    Got greedy, and kept pushing it as the tide turned. I was going down faster than
    a 20 dollar Fremont Street hooker!
    My girlfriend at the time, who was not a gambler, kept urging me to quit.
    That just infuriated me more as I stubbornly put more money in the machine in a hopeless
    quest to preserve my dignity and some money. I lost both.
    Defeated and broke, I defiantly walked away.
     
  2. spdandpwr

    spdandpwr VIP Whale

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    I chase losses all the time....especially with VP machines. I keep thinking (especially on JOB), it's gotta get me back. The worst feeling is when you continue to chase losses and realize when you get back home that you took out one too many benjamins. LOL, its no wonder the casinos "comp" me
     
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  3. Rush

    Rush MIA

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    If I drop a five dollar bill outside, I chase it down the street. I'm sure as shit gonna chase $500!
     
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  4. tringlomane

    tringlomane STP Addicted Beer Snob

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    JoB is the worst unless you're playing 9/6, it feels like an endless suck unless you hit the royal. With 9/6 I feel like my money bounces around more.

    And although I've got better about this, the biggest trigger for me is when the damn thing doesn't pay at all and my first $20 goes poof in 5 minutes or less. That usually makes me want to throw more cash in it. Most of the time that is a bad decision, but my last Vegas 4 Aces ($214 prog.) came after a rebuy at DTG when I briefly considered quitting. Glad there was enough craft beer there to make me not to!
     
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  5. Miller12pack

    Miller12pack High-Roller

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    I usually start out with the same amount every day, but if I win, I don't bank that money, I keep playing on it. I have chased losses many times. I always lose during the day and then it takes me all night to catch up.
     
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  6. Breeze147

    Breeze147 Button Man

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    I never chase losses.

    Edit: Although I do have a saying that the second buy-in is the lucky one, I never go past that.
     
    Last edited: Mar 24, 2017
  7. Electroguy563

    Electroguy563 Over-Fried Gambler

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    I hate it when I take out more money to recoup what I've lost. Usually it just gets worse.....

    There were times where I'm down to my last 12 dollars or so at the craps table and I fight back up to a couple of hundred dollars or so. I still lost money but it just feels good to fight back and win some of it back.
     
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  8. spdandpwr

    spdandpwr VIP Whale

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    HAHAHA, your posts have been absolute fire!
     
  9. MikeOPensacola

    MikeOPensacola VIP Whale

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    Oh yeah, in my youth I chased my losses. When I was 22 I blew my whole paycheck on a weekend Vegas trip and had to live very spend free for a couple of weeks. Granted, I was in the Navy at the time and lived on a ship and didn't have to worry about food or rent but it still was a lesson. Over the last thirty years I've been a lot more disciplined. I've had some big losses but I never had the desire to chase them. When I take a loss in Vegas I'll just chalk it up to "shit happens" and do something else or low/slow roll for the rest of the day. Like everyone here I go out to Vegas to have fun and chasing losses just doesn't contribute to that for me. Thankfully I learned my lesson when it didn't really hurt me that much financially - but it did leave a lasting impression......

    :peace::beer:
     
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    Summer Trip at Aria
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  10. Chuck2009x

    Chuck2009x VIP Whale

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    I guess there's two kinds of chasing:

    One is when you're on a cold streak, maybe especially slots, where you're getting killed but keep playing, waiting for variance or a big hit to pull you out of it.

    The other is when you've had a bad session (or trip), machines or tables, and you try to get a big chunk back with one or two big bets.

    The first type I've done several times, get way in the hole on a machine early (typically a high-volatility one) but keep playing. I'm kind of OK with that, because theoretically, walking away and coming back later really shouldn't make any diff. I'm probably going to play that machine again at some point anyway.

    The second type I've only done about 3 times. They were all craps sessions where I was down probably between $500 and a grand. All 3 times, I put $100 on the line (vs a normal $10), a 6 or 8 came up as the point and I put $500 out in odds. Won twice, lost once. But I stopped doing that to chase losses, now I'll just occasionally do it if I'm up.
     
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  11. C0usineddie

    C0usineddie VIP Whale

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    I have two objectives when gambling

    1- entertainment. i like the fun aspect of it so i can have that for a very small amount of risk. 9 lines 1 cent per line.

    2- I love drinking beer more then anything else so once the beers start to roll in, i am perfectly happy.

    If I win anything, like say $10 or so, i will cash it out and put the slip in my wallet and put another bill in the machine. Like pocketing some chips from your rack. Its just like a savings account. Lightening does not strike the same place twice.

    I will never lose all the way down to zero. if its not going my way I will punch out of that machine faster then maverick in top gun. Its not that a few bucks really matters, its the mental part of it. If you lose down to zero then you walk away feeling like a loser. So i went on vacation to feel like a loser. thats not why I go on vacation, i can do that at work every day just fine.
     
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  12. spdandpwr

    spdandpwr VIP Whale

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    I remember I had my last 2 grand last time in Vegas (had a 10k bankroll) and was sitting at a top Dollar machine ($25 dollar denom playing two credits). I was like I gotta make something back. Was down to my last 300 dollars when I hit top dollar bonus and hit a decent 2500 dollar win. At that point I knew I should cut my losses and go. It was a very bad trip lol.
     
  13. Richard Alpert

    Richard Alpert LOST

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    You have some excellent threads started today, @BobLasVegas ! Thank you!

    I am more likely to chase losses at the local casinos when I'm carrying my entire bankroll.
    In Vegas I am carrying only a fraction of the BR at a time. And I'm pretty good at sticking to the "budget" for the day...

    RICHARD
     
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  14. PSM

    PSM High-Roller

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    I'm actually pretty good at not chasing my losses. I'm disciplined with when and where I sit down and with how much, and I rarely go past that. Not that I've NEVER done it to a degree, but overall if I sit down to play something and tell myself I'm willing to lose X dollars, I almost never go past that.

    BUT I think a big part of that is knowing that the more disciplined I am, the more often I can go. I'm a really low roller and if I regularly chased losses and spent more than my bankroll, I'd know I don't belong in a gambling mecca because I can't control it well enough.
     
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  15. rob889

    rob889 High-Roller

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    ^ This
    When you're doing a day trip to a local casino typically you're only there to gamble and maybe eat and all your cash is readily accessible and time limits are often involved if you only plan on staying for X number of hours.

    When you're in Vegas there are so many other things for you to do should you lose your buy-in or too much of your daily bankroll really fast so you aren't necessarily "trapped" in the casino to chase your losses. You can go up to your room for a break, grab a bite to eat or see a show. It's a lot easier to walk away in Vegas especially if you only carry a fraction of your bankroll and never allow yourself to hit the ATM, but at the same time once the drinks kick in it's really easy to gamble away that fraction of your bankroll because you know you still have cash in the room. The main thing is as long as you don't plan on running up to the room to grab more cash then that fraction of your bankroll is fair game because that's why you brought it down.

    I've "chased" losses on numerous occasions but it's with the money I had on me, not anything I wasn't supposed to gamble with. If I lose 75% of my daily bankroll by 11am then it's up to me to decide if I want to chase with the remaining 25% or take a break and give it a go later on because ultimately it's all the same whether you gamble now or later it's more of a time management thing.
     
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  16. nostresshere

    nostresshere Mr. Anti Debit Card

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    Down big bucks. Pull out another ATM card and win at the only machine that is paying (ATM that is).

    Then make a big hit on the slots. Then another, then another... pretty soon up to $3k in TITO. On a roll, so keep going, right? Then a dry spell and half is gone, then hit again. Repeat a few times and get down to almost nothing and realize I can not even see straight.

    Chased losses mutliple times and then washed out. That is a suck night.
     
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  17. jamesxnj

    jamesxnj VIP Whale

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    In Atlantic City once I chased a number all night it seems.Never hit the 32.I bought in 4 times at the roulette table after leaving it each time...I'd walk around,go upstairs for more cash and ask the old/new players at the table if the 32 came out while I was gone if it was a new board..Nope was the answer every time...Kinda half-lit now,more and more chips had to be on the damn 32 just to break even!
    Finally gave up as $ was needed for another day or so..Woke up all pissed at myself for doing that the 3rd/4th buy-in..

    First game I played in the AM was a new game to me-3-card poker and second hand in- I get dealt A23 Diamonds. for $400. Could not believe it..Was shocked and hungover also..
    Another lesson learned to REMEMBER. That intstacomebacks are rare and few between.
     
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  18. RebelDiceMan

    RebelDiceMan VIP Whale

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    One of my few chasing stories involved a solo trip I went on at least ten years ago. I was staying at the Rio and had the curtains open looking out over the city on my last night before flying home. I had brought $5,000 to gamble on and had lost 80% of that (4K) by that last night. While evaluating my situation, it occurred to me that if I would take that last thousand and bet it all I would have $2,000 if I won. If I then bet that $2,000 and won, I would have 4K which would almost be like winning. (yeah, almost-still a thousand down under the best scenario). I mean, who hasn't won two blackjack hands in a row? Anyway, five days of drinking heavily had burned out my logic and this idea sounded pretty good at 3 AM. I got up early the next morning and went down to a blackjack table to "get my money back". There was only one other person on the table at 8 AM and he looked like he had been there all night. Sitting on third base, he had at least a hundred chips in a big pile in front of him. They ranged from red $5 chips to black $100 chips but were totally disorganized and piled up in a haphazard manner. It was a shoe game with no restrictions on mid-shoe entry so I sort of hung out until I got the "vibe" ;) that the next hand was THE ONE. I then put out my thousand dollar bet and got ready to recoup my losses. (BTW-that 1K bet was one of the largest single bets I have ever made before or since.) Unfortunately, my 3 AM scheme for recovery turned into an 8:15 AM nightmare of another thousand dollars down the drain. I don't remember the details but I Iost the hand and slunk up to my room to finish packing before heading to the airport. Mike Caro talks about reaching a point where further losses don't matter as much as your previous losses (Caro's Threshold of Misery) and that was my state that morning. Having a shot at getting pretty close to even was much more important than losing another grand. I actually did not feel any worse on the flight home with that 5K loss than I would have if I had saved that last bet and been down 4K.
     
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  19. Rush

    Rush MIA

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  20. LV_Bound

    LV_Bound VIP Whale

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    Only done it a couple of times. Not a good feeling.
    Been a while since I have done it.
    Gotta set a limit BEFORE starting.
     
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