This brief was created by researchers in the Gambling Research Lab at the University of Waterloo to serve as a basis for the discussion of current regulations surrounding the effects of near misses and losses disguised as wins (LDWs) on players. This brief includes a state-of-the-art understanding of this topic developed from a systematic review of research performed over the last quarter century, and includes: - What is known about near misses - What is known about LDWs - Possible options to address the problem created by near misses and LDWs