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This chapter extends the winner–loser gap thesis by analysing how inter-temporal changes in voters’ winner–loser status over time affect their democratic support in emerging democracies. The chapter conceptualizes elections in democracies as repeated games and argue that voters’ democratic attitudes are not just determined by their one-shot winner–loser status alone; instead, voters’ democratic attitudes are determined by their winner–loser status in past elections as well as their expectation for the future. With the CSES II data in six young democracies that experienced government turnover, the chapter shows that winning the current election restores the democratic support among previous losers, and losing the current election may not necessarily result in lower democratic attitudes if those losers had been winners in the previous election. The findings not only advance our understanding of the winner–loser gap thesis pioneered by Anderson and Guillory but also contribute to research on Huntington’s two-turnover test in the democratization literature.