Poker has taught me a lot of lessons that I can apply when gambling and in the real world. Knowing when I’m on tilt, slow playing and not chasing come in equally as handy with friends and business associates as they do when gambling on other games. One thing from poker that comes up way too often in other casino games is chasing. Chasing losses specifically.
Losing sucks. There’s nothing we want to do more than avenge our losses. It’s human nature. After listening to so many smart gamblers say not to chase losses I finally buckled down and stopped. Playing poker on tilt and chasing losses rarely turns into making good decisions. Chasing losses in the casino can happen anywhere from the sportsbook to the blackjack table.
We all gamble to hopefully make money but chasing losses rarely turns into money. Making irrational decisions is rarely fun and rarely profitable. Fool me once shame on you, fool me 100 times, shame on me. Chasing losses is out of my system but chasing isn’t.
Over the weekend I was drinking coffee and doing a little work on the photo blog at Red Rock Resort (more on the photo blog another time) when I decided to play Keno while taking a break. I don’t play Keno because it’s boring and has a huge house advantage. I only played because I saw that a jackpot that had to hit by $100 was up to $93 and there was nobody playing. I figured I can play a few minutes and snag a few bucks. Not so fast my friend.
2 hours later (yeah, 2 hours!) I was down almost $100 and a little old lady sat down and snaked my bonus in about 3 games. Not only did I lose money but I was now cranky. However, I learned a valuable lesson – Don’t chase progressive jackpots.
Like 99% of gamblers, I’m not a professional. I gamble to have fun. Sure I want to win but I want to have fun. Chasing never leads to having fun. Results from chasing losses in sports betting are rarely fun and don’t usually pay off over time. The same can be said for chasing bonuses.
No more Keno, no more chasing losses in sports betting and no more chasing jackpots. Sometimes it takes real life experiences to realize something that should be obvious.