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A young man in Nairobi is nursing premium tears after losing money he had won in a bet. James* had placed multiple bets last weekend in one of the betting platforms and won a whopping Sh16,000. A jovial James thanked the gods of luck after the windfall, and went back to bet some more, this time staking Sh5,000 a few times, but ended up losing the whole amount as he kept chasing losses for two days straight.
Don’t ever chase losses. The rule of the thumb is that ‘you should never chase losses’ – like James did. Convincing yourself of impending victory is great as a fan, but potentially costly at the sportsbook. Just stay away from betting immediately after a win – or a loss. Just as important as falling in love with your own team is not falling in love with your own predictions.
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