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12 Reasons That Explain Why You Keep Losing When You Gamble

If you're going to gamble, be smart. Here are a few things that are keeping you from walking away with a thicker wallet, and to learn more about the high rollers in Vegas, watch Money Talks on CNBC Prime.

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4. You think, The longer I don't win, the more likely I will!

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It's called the "gambler's fallacy," and it's when you think you're overdue for a win, and so you keep playing. But the more you do, the more you lose, and then the more you think you're entitled to a win. Which, ya know, you aren't.

8. Casinos track your movements and personality to encourage you to keep gambling!

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They do what's called "crowd contouring," which is when they "cater their offerings to specific groups based on animated maps and data analysis that tells them exactly what type of person gambles a certain way, where they're at in the evening, and what they're likely wanting to do next."

10. You don't observe your opponents before you go up against them!

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The more you know about your challenger, the better off you are. Take some time before you join the game to watch how they act, play, and (hopefully!) reveal more about their hands than they should.

12. And finally: When you win, you use it as an excuse to keep playing!

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Don't be a dummy! Quit while you're ahead! If you keep playing, you're guaranteed to lose what you've just won and you will be sad and you'll feel your life's purpose drip out of your fingertips.

Inspired by Steve Stevens and his Vegas lifestyle on Money Talks

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