Regularly-held elections are one of the main mechanisms to regulate conflicts in democratic societies. Provided that the rules are fair, it is expected that citizens will accept the outcome of an election whether they are on the winning side or the losing side. Hence, citizens’ support for and satisfaction with democracy are essential for the stability and longevity of democratic institutions as well as the peaceful alternation of power. However, a great amount of research has noted the existence of a gap between winners and losers in relation to satisfaction with democracy. One aspect of the winner–loser gap that has been overlooked is the impact of citizens’ expectations and the strength of these expectations on their level of satisfaction with democracy. More precisely, how do citizens react to unexpected winners and losers? Are individuals on the losing side less dissatisfied when they recognize that their favourite party or candidate was likely to be defeated at the polls? Does experiencing a surprise victory lead to a boost in satisfaction? To answer these questions, I use data from multiple national and regional elections held in Canada, France, Scotland, and the United States.