Wait until spring to repot cactus - they recover much faster if they are in active growth.
Its not the plant that's guzzling water. Well, let me re-state that. A cactus will absorb every molecule of water it can get its roots on. They live in the desert where every drop is precious and needed. Most plants come with shutoff valves - when they've gotten their fill of water, they shut off the valves. Cactus don't think they EVER have enough so you have to be the adult. Don't water until the soil is dry 2 or 3 inches down.
Cactus also do better in wider shallower pots as their roots fan out on the surface. Use a soil that drains very quickly. I use cactus soil with added perlite. You don't want any moisture against the roots between waterings.
