Yes, drunk bet chasing can and often does turn catastrophic. been there, done that.
Drunk catsfanbgky " I have lost 5 straight, no way I lose 9 in a row." Decides to chase my losses and bet four more games, lose all 4.
I quit that **** several years ago, now it is bet select few games. No more betting 4 11am kickoff games, 5 2:30 kickoff games, followed by several 7pm kickoff games, then continue drunk betting the 9-10 pm games ,,, just to have action. Have bet 20-25 games on any given saturday, which looking back was a recipe for disaster. Hell hitting 50%, you still take a beating.