Topic: Anyone here who retired with Gambling winnings ? - page 6. (Read 1348 times)

Yes it is difficult, because big win usually will make gamblers tempted to gamble more due to greed but of course it is possible to retire after big win. It requires a strong will to retire, otherwise big win will lead into more frequent gambling activity because we have more money to spend. Aside from a strong will, gamblers who can retire with big win must have a strong plan/resolution as well before they start gamble. Maybe there are some gamblers with slogan/promise to themselves such as "I'll stop gambling forever once I win xx amount". Although in reality it will be still hard to keep their own promise but I believe that there are still some people who can keep their own promise.

Winning is very difficult to be able to retire as a gambler even though you have had a big win and to stop being a gambler is even more difficult if we are addicted to gambling, so it would be better for us to be able to control the gambling we play and don't let us become addicted to gambling. because it is very difficult to stop gambling. If we are curious about the game we are playing, of course we will continue playing until we win which can make us lose our curiosity about the prizes given in the game we are playing.

You are right, indeed for some people who are greedy they will never have enough of the winnings they have gotten in their gambling and sometimes they continue to play after the big win they get so they lose again and lose all the winnings they have got.

Retiring as a gambler is very difficult for some people. just like the way they said that winners don quite. its also difficult for gamblers to quit. Gambling is a kind of game that no matter the wining you've made, there is that curiosity to have more. Not only applicable to gambling but to our everyday life. No matter the amount we have at hand doesn't satisfies us because that is human nature.
So I find it difficult for gamblers to retire with big win.

Hahaha and of course they won't be able to read threads like this when they retire.
There are some people who can change their lives and stop gambling because they got the lottery jackpot, but the number can be counted and I sure that people like this are no more than 1% of the total number of gamblers.
Winning is usually supporting factor for gamblers to be able to bet more and of course they will chase other bigger wins because they think that they will be lucky again.
Professional gamblers may have won big wins but the reality is that they don't stop gambling and there are other reasons that we may not know because people like this will never honestly say why they still gamble.
Like Dan Bilzerian who is professional poker player and has had many big wins from poker table games, he is very successful and has managed to also own an online poker company.
People like this are very rare to meet.

That is called lifestyle inflation or lifestyle creep and it is a very common occurrence, so if for example someone was earning a particular amount of money and then they were given a raise and they were paid double that amount, instead of saving all of that money people will spend it all as things that were luxuries become needs.

This is what makes people to have to work for the rest of their lives, and only a very small number of people can combat that temptation and avoid falling into that trap.

Average gamblers who are basically poor gamblers tend to expect more money before retirement and who are rich gambler they have the same situation but expect more than average gamblers. As this matter is a gambler's personal issue. We don't know anyone's personal opinion so we can't say about that. I don't really care about getting anything out of gambling because I don't believe I'm going to win that big and think I won't win so I don't have any regrets. I cannot assure that I will retire from gambling if I win big. Because I enjoy gambling.

Does it really helps or works? When you have a million in your pocket, you dont go to local canteen for business lunch offer and dress in Zara anymore. I have never seen someone who is rich, being modest in his expenses and live like "this amount will be enough to live till I die". In fact, I rarely heard that people who won large amounts, managed not to spend them all during first couple of years. With great money standards of living changes.

They would not be here... they are retired  It is actually possible to retire with gambling winnings but that is either by a stroke of luck - like winning a big lotto such as the "Euromillions" in Europe or one of the big price games out there or... become a professional player of some of the player vs player games such as poker that have well paid tournaments.

That's right, usually and what makes sense is that people will think about retiring when defeat dominates which of course makes them not doing well and losing a lot of money so that is a reasonable reason in my opinion if in the end they decide to quit. their gambling activities, and on the other hand I think stopping after winning seems like it would be impossible, especially if for example the winnings they managed to get were very large which of course made them very happy and excited. Logically, winnings from gambling are money and we as humans always need money and in addition, we often develop a sense of dissatisfaction in any case, so it is very possible that in that condition, instead of stopping, on the contrary, they are addicted to winning again, even in a more sophisticated way. aggressive. So basically I think it makes little sense and it is very unlikely for someone to think about stopping when they win.

To work decades of your life for an average wage retirement once you reach your 60s or 70s years old doesn't look great either, but that is what is disponible for most of us, and besides this alternative there is none. Gambling isn't an alternative, anyway. As you said, it's nearly impossible to achieve retirement through gambling.

Yes, someone on his 20s or 30s years old is very likely to waste not only his days, but also his whole patrimony attempting to grow it through gambling for a retirement along the years. I've also seen some people who are now around 50 years old and have never built anything solid in their lives, because all the money they make goes to alcohol, drugs or gambling at local shops. They may complain about several factors and aspects of their lives which prevented them from going further, but the reality is that they didn't even try to change for better.

And I really believe these people have tendencies of thinking they would win big from gambling at some point, and that would be a life changer, but for most people it won't happen, so by watching their examples, we have to adopt more solid and concrete decisions for ourselves, sticking to a regular 9-5 job and trying to make investments along the years, so we can boost our retirement later.

sufficient?.. a gambler is never satisfied with his endless lust/desire for more wins - no matter how small it is.. I don't even think they'll decide to quit gambling assuming they began to hit a winning streak for about a year... All they've gotten used to is the ecstacy and the pleasure over nothing ( cus sometimes, most gamblers are multimillionaires in real life... So what's the point of gambling away the funds for another funds you ain't even sure about?)
There has never been a time... Never!!!!

Sandra 🧑‍🦰

Hardly possible. Getting retirement money from a regular 9-5 which is inarguably way better than gambling your whole life away is practically impossible nowadays already, what more would it make of the very thing that relies upon sheer luck? I mean if you're looking for retirement from getting gambling winnings might as well wish you have wings to fly up from where your head's probably at right now.

Here's one thing that I would like to let you know. No one gets retirement money from gambling their whole savings away, and no one who gambles ever retire. I've seen people old enough to be considered ultra-senior citizens still muster the last of their strength to crank the slot machine's lever, why? Beats me honestly, but I digress. The thing is that you'd spend so much money trying to reach that retirement money goal you're looking for that you're practically just better off saving that money instead and finding a decent job so you don't have to rely on other people's fortune to survive until your retirement. There's no such thing as getting retirement money from gambling, as even those who win literal hundreds of millions of dollars from lotteries statistically lose their shit (and by shit I mean money) in 4-5 years because of their subpar financial literacy. It's just the way things go. If you want to find the capability to retire you'd never see it in the gambling world.

Sometimes, you retire because you want to cut the losses and not because you already won. I'm pretty sure most people who retired from gambling are those who are looking to no longer associate themselves with the said activity, and would no longer want to lose any money to it. If there are people who quit gambling because they win, they are pretty rare.

I've never heard of anyone ever retiring from gambling winnings.  Even the people who win massive amounts of money gambling usually give it all back or have to keep working.  The exception maybe being lottery winners that win a couple hundred million dollars.  I would be more than surprised if someone on these forums has retired from playing online slots.  Sure, it's possible.  I think it's pretty unlikely though.  Anyone who says they have retired from gambling...  I'd need to see the evidence to believe it.

Am still a gambler and I haven’t quite gambling so I don’t know the amount that I will win that will make me stop gambling, and am not really after money in gambling, am also having fun when am gambling, actually if I can win huge amounts of money, then maybe I will reduce the way am gambling, so that I won’t end up losing everything to gambling again. I don’t think some people are going to retire from gambling even if they win huge amounts of money, some of them will keep gambling for fun, and some won’t be satisfied, they will still want to keep on increasing the money which they might end up losing everything to gambling again.

In gambling I don't think that we have a particular or specific amount of money that we can retire with, secondly in gambling what we really need in gambling is concentration and also use small amount of money for gambling, many people who is gambler doesn't know particular amount of money they will retire with as a gambler, so therefore what I'm saying concerning gamblers is that they don't have measurements of what they can say that they are retiring with, it's people who knows the totality of what they have won in gambling and the one they conserved as their savings and that one is what they will use as gambling retirement benefits

This is entirely up to what tbe gambler wager. If he risk a smaller amount and lose and see that it doesn't worth it, if he want to quit that instant, he is going to do that without doubt but if a gambler has enjoy what it feels to win from gambling, he might endure a little and try to change strategy maybe it will work but if he see that it is not working as he plan, he will quick without thinking twice about it. However, those that does gambling for fun has a limit to amount they can put and they enjoy gambling regardless of making money or not making anything.

I don't think people will look away where they make money from mainly due to greed, you see it every time in gambling where a person will win big amount that is enough to make him establish a business but wouldn't mind or stop gambling. They are unfortunate to even lose everything back to gambling, even some of them that start business sell off the business to continue gambling.

Gambling is logical and our quest to gamble more would never ends whether we keep making profits or loses. It is very important that we know how to position our bets that will be giving us winnings. Someone that had an impressive wins yesterday would want to gamble more today maybe they will have another winnings.

Our mentality is positioned in a way that we want to keep seeing results every time we gamble and when we don't get the positive results we expect, the urge to gamble more will increase and we will want to try our luck to  get close to winning. Gambling is a way of making extra cash for ourselves and when we don't get that results, we could become desperate and want to do it everyday.

I've not yet had the privilege to win so big that could be called my retirement money from gambling, and as young as I am now, even if I win so big irrespective of the amount, I can't call it quit so far I am below 60 years of age. This is because gambling is not burdensome for me and I have never been desperate of the money to be made through it.

If I should suggest to anyone, it would depend on the plans of the person towards retirement. Do you want to stop working entirely and be spending the money or do you want to be doing business/investment but quit gambling with the money? Your answer determines the final values to be suggested, but I do not think this is ever a good idea if you are still young.

But making over $250,000 should be enough for someone to say goodbye to gambling if money is the reason why they gamble.

Do you know that people's need for money is never ending and gambling is the kind of game where after winning one gets the feeling of playing more. Suppose if you win $500 today then you will gamble more money tomorrow. When you are an addicted gambler you cannot stop gambling even if you want to because the lure of money will keep you playing. From my experience, the people who retire from gambling are those who lose gambling and become absolutely poor. Otherwise those who become rich reduce their demand for gambling because they are addicted to spending money in enjoy life.