Gambling chargeback occurs when a player disputes a transaction with their bank or credit card provider following a gambling loss. The consequences of a gambling chargeback can be severe for both the player and the gambling operator. For the player, it can lead to account bans, loss of winnings, and possible legal ramifications. For the gambling operator, chargebacks can result in hefty fees, a damaged reputation, and potential restrictions from payment processors. Understanding these consequences is crucial before initiating a chargeback in the gambling industry.