No, you cannot. Not typically. Research confirms that attempts to recoup gambling losses is generally a futile mission (see below). We know that’s not what you want to hear after casino gaming or sports betting emptied your bank account, but it’s the moment of clarity that many gamblers need to come to terms with. It’s why you should find comfort in the fact that you arrived here after searching “can I get my gambling losses back“, as opposed to being exposed to misinformation. Misleading information may relate to insurmountable prospects of refunds from operators, or worse, the promise of gaining access to methods to beating the house at its own game. Instead, today’s feature offers a succinct look at why the odds of recovering sunken wagers are extremely lean and can lead to larger net deficits from a financial and mental health perspective. More importantly, this article concludes with a call to action that will lead to a far better outcome. Please keep reading.
Why the Odds of Getting Gambling Losses Back Are Slim-to-None (and where to refocus your attention)
I. Research Confirms It
The Gambler’s Ruin Formula was initially developed during the mid-17th century to analyze betting scenarios in order to understand, via a mathematic model, why players, whose funds will always be more limited when compared against gambling houses, will inevitably lose over time. The formula concludes that a player with finite wealth playing either a fair or unfavorable game against an opponent with infinite or significantly larger wealth (e.g. a casino or sportsbook) will almost certainly go broke. Regardless of the betting system used (more on this below), the probability of ruin is definite as any gambling game continues.
We encourage you to reference recent research, conducted by the University of Pittsburgh (view here) and Columbia University (here) for a look at the formula under the microscope of various scenarios of wager amounts and game-types. Alternatively, we at Kindbridge have put together a more digestible summary of the Gambler’s Ruin Formula in a popular article titled; Sports Betting as a Side Hustle is a Dangerous Myth.
Tap image for a close look
II. There is No Winning Strategy to Gambling
Regular gamblers who look for advice on Reddit, YouTube, and Tik Tok (et cetera) regarding winning and “win back” strategies will invariably come across content creators and gambling influencers who point them to playbooks that promise success in casino gaming and sports betting. These may as well come with a side of snake oil, because research (and the above mentioned Gamblers Ruin Formula) consistently shows that there is rarely a winning strategy in gambling.
The concept of bankroll management is the biggest fallacy. The so-called “disciplined practice” involves setting aside a dedicated sum of money (“bankroll”) specifically for wagering, and managing it to prevent ruin and ensure longevity. It involves staking only a small percentage of total funds per bet to survive losing streaks and eliminate emotional decisions. While it can have merit in the realm of responsible gambling (for entirely healthy persons), it relates to a phenomenon observed in gamblers who experience the illusion of control over a given outcome. This phenomenon is known as a cognitive distortion. Cognitive distortions directly related to bankroll management and other purported winning strategies include the following:
- The belief that strategies minimize longterm risk for most gamblers.
- The belief that strategies remove or reduce emotional betting behavior for most gamblers.
- The belief that strategies enhance gambler discipline.
- The belief that strategies are sustainable of the long haul.
For a detailed breakdown of why suggested winning strategies such as bankroll management don’t work for most gamblers, click here.
III. Chasing Losses is a Sign of Problem Gambling
If a non-habitual gambler lost a $1,000 at blackjack (for example), walked away to ponder if they could get their gambling losses back, and tried their hand again, they potentially could. That’s gambling. But these are rarely the individuals who search for insight into how to get gambling losses back. Those who search for this information are generally those who exhibit a pattern of behavior that leads them to financial stress due to gambling. As someone who may be among them, what you are essentially doing is chasing losses.
Chasing losses is the harmful behavior of continuing to make bets – often increasing stakes or changing strategies (as per the section above) – to urgently recover money previously lost, rather than stopping gambling altogether. It is a hallmark of problem gambling where gamblers are driven by the illusion that winning back what they lost is imminent. They enter a vicious cycle of larger, emotional bets, leading to further financial losses and mental health compromise. Simply stated, the mere fact that you’re here after searching “can I get back my gambling losses?” may indicate that counseling intervention is required.
View more on the signs and symptoms of problem gambling right here.
IV. Other Issues May Keep You from “Winning”
If you do exhibit signs of problematic gambling behavior, it is also possible that you struggle with other issues that often overlap. And if so, the odds of winning back what was lost may become even slimmer because comorbidity of problem gambling and other issues indicates that rational decision making is further compromised.
If you know or suspect that you may live with any of the following, following the next step detailed in the section below is not just recommended, but critical:
| Anxiety | Depression |
| ADHD | Bipolar Disorder |
| OCD | PTSD |
| Substance Use Disorder | Suicidal Ideation and Suicidality |
V. The Sustainable Path to Success + Wellness
Reframe the question of “Can I get my gambling losses back?” to “How to get my life back on track?”. The latter will lead you in a positive direction through a professional assessment and customized counseling strategy that addresses your unique situation.
As someone who may need help to curb unhealthy gambling, you will not just learn to manage behavior and keep from sustaining further losses, you will gain access to tools and resources that can make you more successful in life. Regular counseling, featuring cognitive behavioral therapy (CBT), is often a high-return, long-term investment that can improve more than behavioral and emotional wellbeing. It may also indirectly improve your financial situation by addressing any underlying issues that hinder decision making, financial management, and productivity. Data suggests that therapy can actually lead to increased income (all things equal) with one study pointing to potential average increases (between men and women) of more than 10%.
Let’s get you started on the road away from unhealthy gambling, towards optimized wellness. Connect to a Kindbridge care coordinator to initiate an assessment and to schedule your first virtual counseling session at a day/time that is convenient for you. Use your preferred form of contact below to get started.
