How Many Gamblers Quit Before Winning Big?

Many people gamble in search of a “big win” or jackpot.

If you are a sports bettor who frequently bets parlays, you might wonder how long it will take for one of the long-shot parlays to hit. You might be frustrated that you lose parlay after parlay.

The truth is you should consider abstaining from gambling if you’re thinking of quitting but continue because you think your big win is around the corner.

Wins will come, and maybe you’ll score a large payout, but you should never fall victim to the gambler’s fallacy. Doing so could set you up for a gambling problem.

Many gamblers believe that past events affect future outcomes in games of chance, like sports betting and poker. This can lead them to continue gambling longer than they intended, hoping for a big win. This can also lead to the dangerous behavior of chasing losses.

If you bet long enough, a big win will likely come. But will the money be enough to get you out of the hole? Will you feel satisfied after all the time invested to break even? Will you give all of that big win back to the sportsbook or casino because you’re now compulsively betting?

Big Wins Are Future Losses

For people with a gambling problem, a so-called big win is just money to lose in the future. 

Money isn’t the reason for gambling. People struggling with a betting addiction are using the activity to deal with other issues, often mental health problems.

Big wins are irrelevant because they can’t stop betting, and the house wins in the long run.

Here’s one example of a gambling boss admitting that big winners don’t quit.

Former Las Vegas casino executive Steve Wynn, who founded Wynn Resorts, told 60 Minutes in 2011 that in his decades-long career he never saw one gambler quit after a big jackpot.

The interviewer for 60 Minutes asked Wynn: “Have you ever known, in your entire life, a gambler who comes here and wins big and walks away?”

“Never,” Wynn replied.

Do 99% of Gamblers Quit Before a Big Win?

This specific question is a common one because many people believe that if they continue to gamble a so-called big win will come and erase previous losses.

There’s even a shirt for sale on Amazon with the words, “99% of gamblers quit before hitting it big.” Underneath the phrase is an image of a stack of poker chips.

This is apparently a popular meme. Don’t buy that shirt.

To answer the question seriously: Many gamblers do quit before they win big, as they should.

Sometimes it can be taking a break from betting and returning with a clear mindset. More often it can mean abstaining from gambling because it’s an activity with no positive outcomes.

Image by Mohamed Hassan from Pixabay.