Chasing losses
Chasing losses is raising stakes, or betting more often, to win back money already lost. It turns a losing run into a big loss: a sign of problem gambling.
Example
After losing 50, staking 100 to win it back risks losing 150 in all, on a bet that is no more likely to win than the last.
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Related terms
Betting unitA betting unit is a fixed standard stake, usually 1% to 2% of the money set aside for betting. Bets are sized in units, so results compare across bankrolls.VarianceVariance is how far real results stray from what the odds and the chances predict. In betting it is large: good bets can lose for weeks before the edge shows.