Submission Title

Exploring a Multi-dimensional Understanding of “Loss Chasing,” and its Manifestation in Actual Gambling Record Data

Session Title

Session 1-4-C: Lightning Talks

Presentation Type

Lightning Talk

Location

Park MGM, Las Vegas, NV

Start Date

23-5-2023 3:45 PM

End Date

23-5-2023 5:15 PM

Disciplines

Applied Behavior Analysis | Behavioral Economics | Cognitive Science

Abstract

Abstract:

Many people consider loss chasing to be a defining marker of gambling problems. However, current efforts to measure loss chasing tend to frame this concept unidimensionally with regards to gambling behavior (e.g., increased betting) and time (e.g., within a gambling session). Yet, single dimensions are unlikely to fully capture the nature of loss chasing. Similar to men’s and women’s pant sizes (i.e., two vs. one size dimension, with the former often resulting in more varied—and thus better—“fits”; Jachimowicz, Blesch, & Hauser, 2022), stakeholders should consider measurement of loss chasing multidimensionally to improve “fit.” We propose a multidimensional concept of loss chasing that is a combination of key betting behaviors implicated in loss chasing (i.e., stake size, odds, and betting frequency) and frames of reference for losses (e.g., considering net loss based on more recent settled bets vs. all previous settled bets). In our discussion, we consider the possible pros and cons of a multidimensional approach to understanding loss chasing, and provide practical guidance for measuring this complex concept.

Implications: A multidimensional approach to defining the concept of loss chasing holds the potential for greater measurement precision to help inform the prediction and explanation of gambling-related problems. Greater precision can lead to better real time risk assessment, identification, and intervention.

Keywords

loss chasing, chasing losses, multidimensional

Author Bios

Timothy C. Edson, Ph.D. is a Research & Evaluation Scientist with the Cambridge Health Alliance Division on Addiction and Instructor in the Department of Psychiatry at Harvard Medical School. His main research interests include assessing the causes and consequences of irrational human decision making. He holds a Ph.D. in Criminal Justice and Criminology from the University of Massachusetts Lowell.

Funding Sources

Entain, PLC

Competing Interests

None

Share

COinS
 
May 23rd, 3:45 PM May 23rd, 5:15 PM

Exploring a Multi-dimensional Understanding of “Loss Chasing,” and its Manifestation in Actual Gambling Record Data

Park MGM, Las Vegas, NV

Abstract:

Many people consider loss chasing to be a defining marker of gambling problems. However, current efforts to measure loss chasing tend to frame this concept unidimensionally with regards to gambling behavior (e.g., increased betting) and time (e.g., within a gambling session). Yet, single dimensions are unlikely to fully capture the nature of loss chasing. Similar to men’s and women’s pant sizes (i.e., two vs. one size dimension, with the former often resulting in more varied—and thus better—“fits”; Jachimowicz, Blesch, & Hauser, 2022), stakeholders should consider measurement of loss chasing multidimensionally to improve “fit.” We propose a multidimensional concept of loss chasing that is a combination of key betting behaviors implicated in loss chasing (i.e., stake size, odds, and betting frequency) and frames of reference for losses (e.g., considering net loss based on more recent settled bets vs. all previous settled bets). In our discussion, we consider the possible pros and cons of a multidimensional approach to understanding loss chasing, and provide practical guidance for measuring this complex concept.

Implications: A multidimensional approach to defining the concept of loss chasing holds the potential for greater measurement precision to help inform the prediction and explanation of gambling-related problems. Greater precision can lead to better real time risk assessment, identification, and intervention.