Chasing The Dragon

Michael G Borresen By Michael G Borresen, 20th Oct 2013 | Follow this author | RSS Feed | Short URL
Posted in Wikinut>Gambling>Peer To Peer

All about chasing your losses of money during the gambling experience.

Chasing Your Money

When a gambler loses money gambling, then they will resort to using their ATM card, credit cards, or take out personal loans to get more money in order to regain the money that they have lost during their gambling episode. This is called chasing your losses, or chasing your money, or chasing the dragon and could last for hours, days, weeks, months, or even years.

The period of chasing your lost money is a period of confusion because the compulsive gambler is doing the same thing over and over again expecting a different result. Chasing your money is like being on a merry-go-round and not being able to get off.

Probably the most dangerous part of chasing your losses is the need to borrow money in order to try and win back the money that was lost to gambling. The most common way that gamblers borrow money is from their credit cards. Most do not want to accept the reality that with credit cards they have to pay back the loan with interest. Some will resort to abnormal ways of getting money to feed their gambling problem.

Many gamblers will spend their entire paycheck just trying to break even. Others will borrow money from payday loan companies. The end result is that a compulsive gambler will get themselves deeper in debt when they are chasing their money to try to get out of debt. While they are chasing the dragon they are also chasing one big jackpot that will be their salvation.

During this phase of confusion, a compulsive gambler can lose total control of how much money is being tossed away into a gambling machine, a table game, or even through internet gambling. As a result a problem gambler can chase their money until their money is all gone and they are broke.


Chasing, Debt, Losses, Money

Meet the author

author avatar Michael G Borresen
Michael is an author and journalist and is an inspirational writer. Recent book is Our Universal Family.

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