Adults have been found to systematically overestimate the intensity and duration of their predicted future emotion, or affective forecasts, and this is known as the impact bias. The current study is the first to investigate if children have an impact bias similar to adults. To explore this, a novel method involving winning and losing games was created, whereby children predicted and subsequently reported feelings towards wins and/or losses. Feelings were measured on a 7-point scale of faces ranging from extremely sad to extremely happy in expression, which was created for the current study. Results indicated that children aged five displayed an impact bias with regards to losses, such that they overestimated the negative impact of losing a game. Results further indicated children did not display an impact bias with regards to wins, such that they accurately predicted the positive impact of winning a game. These findings give insight into the development of the impact bias, of which the literature is lacking. Additionally, the current study successfully developed a novel method and scale which can be applied in future research on the impact bias in young children.