Why People Keep Playing After Losing: The Science Behind Chasing Losses

Most people have been known to chase losses from time to time. Finishing a book or a movie you hate, continuing to search for deals when you’ve previously overspent, and gambling to recoup losses are all examples of this behavior.

But what does the science say about chasing losses? Why do we double down and continue to do the thing that’s making us unhappy, even if we know it’s not working?

When we experience wins (gambling or otherwise), our brain releases dopamine, a feel-good chemical that rewards feel-good behaviors; when we experience losses, when something bad happens, our brains release stress response hormones that can make us feel even worse.

We chase losses to get a hit of those feel-good chemicals and avoid stress-response hormones. Of course, we also want to negate the consequences of losing, too.

7 Reasons Why Gamblers Keep Playing After Losing

So why do people keep playing after losing, even when their rational mind tells them not to? Let’s look at seven reasons why gamblers often chase losses.

1. They Don’t Want Their Last Play to Be a Loss

Many gamblers feel superstitious about losing. If they stop playing when they’re losing, they often feel as though they might never win again.

Yet, it’s important to remember that the house always wins. If you’re losing, it’s better to cut your losses than to chase them.

2. They Believe the Next Big Win Is Around the Corner

We all believe that gambling is a numbers game. If you bet enough times, you have to come out a winner at some point, right?

Not necessarily. If you’re playing a slot machine with a high return-to-player percentage (RTP), sure, you’ll probably win at least one spin eventually. But will the winnings of that one spin negate all the losses?

Sports betting can be even dicier. Sure, the odds are posted for each bet, but even betting on the favorite doesn’t guarantee a win.

3. They Get Emotional

Many gamblers bet with their hearts, or who they want to win a sports matchup, instead of who is most likely to win.

Casino gamblers can also get emotional after losing time after time, and emotional betting doesn’t lead to good choices.

4. They Have a Gambling Addiction

Nearly 6 million to 8 million Americans struggle with gambling addiction or problem gambling.

If you have a gambling addiction, you may not be able to stop betting even if you want to. You may be more likely to chase losses or even bet when you don’t plan on betting.

5. They Want to Win Back What They’ve Lost

One of the most common reasons gamblers chase losses is that they want to win back what they’ve lost.

The sting of losing doesn’t hurt as much when they “negate” their losses by winning them back. Yet, this line of thought doesn’t usually work, as emotional bets are more likely to be made.

6. They Suffer From Loss Aversion 

Experts say that people with loss aversion feel the pain of losing more intensely than the joy of winning.

Since the goal of someone with loss aversion is to avoid pain, they’re more likely to continue gambling when they’re losing.

7. They Struggle With Impulse Control

Impulse control can lead to chasing losses and chasing wins. Linked to problem gambling and gambling addiction, people who suffer from this struggle to avoid behaviors that may cause negative impacts in the future.