Do Big Wins Actually Make You Play More — or Less?

We’ve all heard the stories of players winning the lottery, a big sports bet, or a jackpot slot spin – only to find themselves bankrupt in a few months or years. And most of us believe that if we won big, we would certainly put that money to good use; however, the data shows otherwise.

Let’s look at whether big wins make you play more or less, and why you’re more likely to keep playing your winnings after you’ve won a large chunk of change.

Why Big Wins Make You Play More

A 2023 study that analyzed the playing habits of 36,328 sports gamblers found that big wins often lead to increased gambling (though players’ habits generally diminished over time).

The study suggested that these big wins could also lead to problem gambling.

One possible explanation for big wins causing bettors to play more is that our brains remember big wins more than modest wins, and this can cause beginners to believe these types of wins are more common than they actually are.

Here are a few other reasons why big wins can make you play more.

Illusion of Control

The study suggested that big wins could give players an illusion of control, or the misbelief that the player won big because they were simply a sharp bettor. In the player’s mind, they had complete control over the outcome of the bet, so they would be able to reproduce the results if they kept betting.

Hot Hand Effect

The study also cited the work of three other researchers, Gilovich, Vallone, and Tversky, who in 1985 found that players believe that they need to keep playing so they don’t break their winning streak.

House Money Effect

Another finding of the study was that a lot of players felt that once they won big, they weren’t even betting their own money anymore. Instead, they were betting the house’s money, as their winnings weren’t their “own funds” to begin with.

Why Big Wins Might Make You Play Less

Even though the data shows that big wins are more likely to make you play more, there are a few reasons why some players are more inclined to play less.

One reason is that some players might feel nervous about their winnings, fearing they could end up betting more than they’ve won – and end up losing just as big as they’ve won.

Other players might simply need the money for other expenses. Some might decide to only bet a percentage of their winnings (say 10%) so they don’t end up losing everything they’ve won.

The Verdict: Do Big Wins Actually Make You Play More or Less?

At the end of the day, the data is clear: big wins are more likely to make you play more. Studies show that winning big can lead to increased gambling, which could lead to problem gambling.

If you’re lucky enough to win big on a sports bet, slots, or the lottery, create a budget for your winnings, so you don’t end up burning through your good fortune.