Losing all your fortune with just 3 years - page 8.

rodskee

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Quote from: Beparanf on May 12, 2024, 12:25:28 PM

I’m not sure if this story was already shared here but I just recently watch this gambler sad story from social media that is really heartbreaking.

The subject is Terrance Watanabe which is a successful businessman who has a huge business and money that becomes addicted on gambling. He lose a total of 127M which is all his fortune that he earn from his business. Imagine all your hardworking was turn out to nothing after a few years of gambling addiction.

The sad part here was he became a victim of casino scheme of alluring user with their offers and allowing him to play while drunk until he loss everything.

He manage to wager a whooping 825M $ in just a single year when he lose that 127M.

Source: https://www.cbsnews.com/news/gambler-lost-127m-in-2007-sues-casino/

That is not sad story in which forme a stupid story instead ?

who is in his right mind that will let His all time earning to lose just like that? where in the world .

Sorry to say that but i am not for here to sympathize because he do not need that .

and also that is the casino scheme but that is our own decision to make to gamble while we are drunk.

madnessteat

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Quote from: Beparanf on May 12, 2024, 12:25:28 PM

~snip~

Uh-huh. Alcohol is evil, so it's best not to use it when money is involved. It doesn't matter whether you are in business or gambling. Do it sober, and then get drunk if you want. Alcohol and drugs can stupefy the mind, and we all understand that to leave the casino with a winnings in such a state is very difficult. I do not understand why this person after the first major loss did not realize that to repeat this experience is clearly not worth it. Or he continued gambling without sobering up?

STT

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Both alcohol addiction and even gambling can be considered an illness which does seem to indicate he has some leverage in his court case to argue his poor health and unsuitability to gamble.

I would expect a settlement of some kind to occur, you could even consider it some form of cashback or return on his losses. Casino already sometime give back bonuses on that basis so they might be more amiable then first appears.

Obviously somebody is advising Terrance and giving legal representation. If he is broke they are taking a cut of whatever earnings from the court case come forward so they are confident in being paid, I expect some payment tbh.

Zigabel

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Quote from: Beparanf on May 12, 2024, 12:25:28 PM

I’m not sure if this story was already shared here but I just recently watch this gambler sad story from social media that is really heartbreaking.

The subject is Terrance Watanabe which is a successful businessman who has a huge business and money that becomes addicted on gambling. He lose a total of 127M which is all his fortune that he earn from his business. Imagine all your hardworking was turn out to nothing after a few years of gambling addiction.

The sad part here was he became a victim of casino scheme of alluring user with their offers and allowing him to play while drunk until he loss everything.

He manage to wager a whooping 825M $ in just a single year when he lose that 127M.

Source: https://www.cbsnews.com/news/gambler-lost-127m-in-2007-sues-casino/

This is why we have always advised that gambling should be done on the basis of having fun and aswell if you must gamble, make sure to risk that which you can afford to loose and not that which will cost you a fortune because most gambler end up in situations as this that they get to loose their fortune to the casinos and it turns out the casinos don't refund Even if you have lost a fortune neither do they compensate you for loosing a certain amount at a particular time because they know if it were you who got to win such amount, you most likely wouldn't even ask the casinos to keep some of the funds you will rather take all and even more if possible.

The casino happens to make profits when they get such big losses from their customers, it's always advised even by the casino that one should always try to stay responsible as much as possible at the casino by gambling with only that which they can afford to loose basically it was just the fact thst that man lacked discipline and at some point greed that got him to that point in his gambling habit.

boyptc

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That's a serious f*** up story from that businessman. Whoever gets to enjoy his wealth but then suddenly falls into gambling will have to deal with the consequences.

He worked hard for his assets and what he's got then it will turn out to be gone easily.

I can't imagine how painful it was for him and to the people that are caring to him most.

coin-investor

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Quote from: Beparanf on May 12, 2024, 12:25:28 PM

The sad part here was he became a victim of casino scheme of alluring user with their offers and allowing him to play while drunk until he loss everything.

He manage to wager a whooping 825M $ in just a single year when he lose that 127M.

Source: https://www.cbsnews.com/news/gambler-lost-127m-in-2007-sues-casino/

This article was written in 2007, and the update on the case was

Quote

Caesars Entertainment Corporation was fined $225,000 by the New Jersey Gaming Commission for allowing Watanabe to continue gambling in a highly intoxicated state,

In 2017, Watanabe announced he had prostate cancer and he began a GoFundMe campaign to raise $100,000 for an operation. In 2022, Foundation Media Partners acquired the exclusive rights to Watanabe's story.[

https://en.wikipedia.org/wiki/Terrance_Watanabe

The moral of the story here is even if you are the wealthiest man in the world, you can blow everything or lose everything you worked with on gambling it takes a year to lose everything that you've worked hard all your lifetime, so draw the line with money that you can afford to lose and don't let your ego play and if you're drinking a lot do it at home not in a casino, because casino might take advantage of you during your weakness or when you're drunk.

Litzki1990

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The amount of money he had earned hard throughout his life and the position he had built up in the society, he had lost in no time. In this case I must call him a fool because how can a person who can run his business in such a good condition get addicted to gambling and how can he get addicted and lose all his money. It is certainly a sad case but the person you mentioned must be very greedy and very stupid because if he was not extra greedy or stupid he would never have gambled away his entire business money. His incident will be a lesson for some traders. There is no problem if you have a habit of gambling but don't let the habit become an addiction because whenever the habit becomes an addiction it will bring its own destruction.

Outhue

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Quote from: Beparanf on May 12, 2024, 12:25:28 PM

I’m not sure if this story was already shared here but I just recently watch this gambler sad story from social media that is really heartbreaking.

The subject is Terrance Watanabe which is a successful businessman who has a huge business and money that becomes addicted on gambling. He lose a total of 127M which is all his fortune that he earn from his business. Imagine all your hardworking was turn out to nothing after a few years of gambling addiction.

The sad part here was he became a victim of casino scheme of alluring user with their offers and allowing him to play while drunk until he loss everything.

He manage to wager a whooping 825M $ in just a single year when he lose that 127M.

Source: https://www.cbsnews.com/news/gambler-lost-127m-in-2007-sues-casino/

As a gambler who likes visible-located casinos, don't ever take any free drinks or food from the casino, you can be a target without you knowing that you are.

Especially people who are rich like this man, they will want to get the best of him for sure, he let his guide down and got stung, I will blame the casino for these losses, they are preying on him to make him lose.

I also don't get why many rich men like this person will decide to gamble with millions, I have friends who told me that if they can get some amount every month as salary they will stop gambling forever.

The reason why many people are into gambling is to make money, and the other few are here to have some fun, many will choose to walk away from gambling if they are already worth millions in dollars.

ethereumhunter

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Quote from: Hirose UK on May 16, 2024, 11:45:46 PM

For them, rich people gamble more than anything because they are really looking for satisfaction and adrenaline which is much more desired, many rich people don't care about the risks and losses they can incur when gambling but in the end they still lose large amounts and disappointed.
Anyone will definitely regret it if they spend quite lot of the money they have just for gambling, especially if it drains all their wealth then in state of collapse they will become like crazy people or lose their enthusiasm for life.
All of this should be able to be minimized from the start of entering gambling, but however, when you first enter gambling there will definitely only be excitement, curiosity and also emotional increases that are unstable and lead to many mistakes.

Limitation in time and finances are the main factors in context like this, isn't it very sad when someone works or does business at any time in several years and has to be destroyed because of ephemeral pleasure and satisfaction.
Maybe after something like this happens they will be able to think properly and that is the experience that is called the most useful teacher.

If rich people don't care about the risks and losses, they will lose much money or all of their money. Playing gambling must have control to avoids the big lose so no matter if they have much money, they must not use big money to gamble. It's better they use their money to create a new business that can gives them profit than just playing gambling. Using the big money to playing gambling is never suggested because that can drain their wealth fast without they can realizes. When they see that they already lose some money, that will be the time to stops their gambling activity and leave the casino. There will not be a good decision if they deposit more money just to keeps playing gambling because that can cause them lose big money.

Yes, limitation will be the key to prevents the big lose but they can still enjoy playing gambling. With limited money and time, they will not have to worry with losing much money because they can knows how much money they will use to playing gambling. We all have bad experience while playing gambling but we can fix that so that will not happens again.

summonerrk

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Quote from: Viscore on May 17, 2024, 02:55:16 AM

I could never loss that big but I could be bankcrupt if I let myself addicted in gambling. just to bad for him, he was smart enough to become successful in his business but too fool to fall on the trap of gambling addiction. if he is really good in business, he can climb from being drown and be successful again, but I wonder how that experience in his life would affect his thinking, some people might have result to committing suicide, I hope he'll stay strong.

This may not happen to us but we can always learn from that news, as long as we are gambling, we are all at risk of getting addicted, but knowing the consequences of addiction will help us minimize the risk of getting into that low life level.

I think the problem of gambling addiction is not that common, but if someone becomes a ludomaniac, it's always a disaster. I am convinced that awareness of the danger of gambling addiction is already half the success.
If a person understands how dangerous gambling can be for the development of addiction, then he is already on the right track to protect himself from this threat. It is important to pay attention to the signs of addiction and not allow gambling to cause serious problems in life.

But I think that discussing this issue helps everyone to stay strong against gambling addiction. After all, everyone here remembers that taking care of one's own health and well-being should be a priority in all circumstances.

Julien_Olynpic

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Who is to blame for a person playing while drunk? I think there is no one to blame for this. No one forces a person to drink, no one forcibly pours alcohol into him. The fact that he made a lot of money from the business is cool, but he apparently played not for fun, but to increase his capital. The desire for quick wins and easy money ruined him. Of course, it’s a pity that most likely he won’t be able to get his money back. This is a harsh lesson not only for him, but also for many other businessmen and players. You can lose everything if you take your bets lightly. If you don’t know probability theory well, then don’t consider casinos and sports betting as income.

Mr. Magkaisa

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Quote from: Cantsay on May 12, 2024, 12:34:35 PM

Jeez man, that’s a lot of money. These are the type of cases that usually lead to the victim doing something stupid like committing suicide because of the shame, pressure and regrets he’ll face from his family.

I just did a quick scan through the article you shared and one part caught me attention.

This is insane - losing $5 million in a single day is not something that someone that is with us sane mind would pull off.

- 5 million dollars in a single? man! that crazy, really crazy mate. It's a lot of money. In our currency here in the country I'm in, that's equivalent to 275 million in our money. My family can live for up to five generations. That gambler is definitely very rich; well, that's their money, and they're just enjoying their lives, and they saw that when they played at the casino here with cryptocurrency.

While I have never earned 1 million dollars in my entire life because I am not rich, how much more can 5 million dollars be? It's crazy, to be honest.

blckhawk

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Quote from: Viscore on May 17, 2024, 02:55:16 AM

I could never loss that big but I could be bankcrupt if I let myself addicted in gambling. just to bad for him, he was smart enough to become successful in his business but too fool to fall on the trap of gambling addiction. if he is really good in business, he can climb from being drown and be successful again, but I wonder how that experience in his life would affect his thinking, some people might have result to committing suicide, I hope he'll stay strong.

This may not happen to us but we can always learn from that news, as long as we are gambling, we are all at risk of getting addicted, but knowing the consequences of addiction will help us minimize the risk of getting into that low life level.

You will never know for sure until this happens to you, that's the thing about this one. Even if we try to relate and put our feet on Watanabe's shoes, we still can't fathom what we should do next, that much money would probably make some of us think that we've got an infinite money, that's why I believe that even if the case where we're put into that situation, it will probably come to the same end. Also, addiction isn't something that you would know that you've contracted, it will manifest without you noticing it and by the time someone points it out, you're already addicted so it's for this reason why I don't think that he's a fool for falling for the gambling trap, some people are just too obsessed that it just clouds their judgment. Knowing is one thing but actively preventing and having the discipline to not get addicted to something or just straight up saying no is another thing.

Webetcoins

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Quote from: mindrust on May 12, 2024, 12:53:50 PM

I can't be sorry for these people somehow. A person what has hundreds of million dollars should be smarter than this or else it only means he never deserved to own that much money in the first place. If he earned all that money himself, then he should have known how dangerous gambling can be if you are not cautious. Since he lost all that money to gambling, it only proves my point and he didn't know shit about risk management. Maybe he inherited all that wealth from his parents. It happens all the time. The parents earn everything and when they die, their children fuck everything up because the parents couldn't raise them properly. If that's the case then I am sorry for the parents. Not for the dumb kid.

That's exactly how I think about such things.

Someone who builds an empire from scratch cannot be as reckless as this guy who loses all his wealth in gambling. A hard-working person knows what it takes to earn money and to become financially stable or independent, and such a person can never spend all their money on useless things.

I know the guy was addicted to gambling, but he wasn't addicted initially, he could always back off knowing that he is spending way too much money on it. I'm pretty sure he was in his senses in the initial stage when he started gambling, and no one gets addicted to gambling so quickly, it takes some time for them to reach that state.

Dr.Bitcoin_Strange

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Quote from: rachael9385 on May 15, 2024, 02:40:12 PM

Finally, rich people have a clear knowledge on how to spend their money, so I can say that no rich gambler can lose all his money with a clear eyes. Although, it's easy to lose money on gamble but it's very rare for rich gamblers to use all their money and gamble all of them at ones. It's very obvious that he lost all his hard works just in one day because he was drunk. However, most rich gamblers don't listen to advise mostly if they sees the person given them advice like someone that's not up to their standard. They won't listen and they will ask you this question.

If they don't spend the money on a clear eye, then what do you think is the case? Are you thinking voodoo? That's not what it is, bro.

In this case, the gambler wasted the money in three years. Perhaps something has happened to him that just made him so addicted to gambling, and gambling addiction is something that is very difficult to stop, mostly when the victim doesn't agree he or she is addicted and also when it's an addict that doesn't allow anyone to advise them. You know that it's not any kind of person that can just walk up to a rich man and advise them; they usually have their circle.

Viscore

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Live with peace and enjoy life!

I could never loss that big but I could be bankcrupt if I let myself addicted in gambling. just to bad for him, he was smart enough to become successful in his business but too fool to fall on the trap of gambling addiction. if he is really good in business, he can climb from being drown and be successful again, but I wonder how that experience in his life would affect his thinking, some people might have result to committing suicide, I hope he'll stay strong.

This may not happen to us but we can always learn from that news, as long as we are gambling, we are all at risk of getting addicted, but knowing the consequences of addiction will help us minimize the risk of getting into that low life level.

leonair

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Quote from: Oshosondy on May 12, 2024, 12:47:34 PM

So sorry for the man. I wish something like this should never happen. But this is a lesson for people to know that gambling should be done with just little amount of money. Probably if the man is on a forum like this and reading from what we are posting on gambling discussion board, he might have learned some lessons from here instead of going through this hard time.

he was deeply addicted on gambling. $825M wager in a single year is not a normal gambling. he loss $127M which is really huge big amount. gambling shouldn’t use seriously. because it is not a type of business or a investment. gambling is a bet which is really depended on luck. so taking a big risk like this It is not the work of any intelligent person. I will also say that such an incident should not happen to anyone else. every gamblers should be careful when they gamble

Hirose UK

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Quote from: ethereumhunter on May 16, 2024, 05:28:54 AM

Quote from: Uhwuchukwu53 on May 16, 2024, 02:07:32 AM

Quote from: Oshosondy on May 12, 2024, 12:47:34 PM

~snip~

That is true, this speak volume in my heart we should learn how to control our emotion once it comes to gambling mostly when all that you have labour for over the years is to be engaged on the process such situations of gambling to me it's extremely unwise as many do said that gambling with what one can loss and see it as spare money is quite good in all ramifications because if it's a spare money the Man wouldn't have been in such predicament.

Though many say that life can happen to anyone but not in most cases because some case inability to structure how the life will go for you as a person leads to such, poor planning and articulating of the outcome of what one want to take as risk is very dangerous.

That's why we must learns how to control ourselves because playing gambling needs to be moderately and not use much money to avoids the big lose. That's a lessons for us not to takes it seriously when playing gambling and considers to use gambling for a fun activity and entertain. The lose will be certain if people can't control themselves in gambling and the lose can be bigger if they still not aware or realizes about that. They also must remember not to drink alcohol when they playing gambling because that can makes them lose their minds and only wants to playing gambling. They will not see the risks becomes bigger while they just knows how to spends their money in gambling games. They will difficult to wins the games as they becomes too serious playing gambling without thinks that they already lose much money.

For them, rich people gamble more than anything because they are really looking for satisfaction and adrenaline which is much more desired, many rich people don't care about the risks and losses they can incur when gambling but in the end they still lose large amounts and disappointed.
Anyone will definitely regret it if they spend quite lot of the money they have just for gambling, especially if it drains all their wealth then in state of collapse they will become like crazy people or lose their enthusiasm for life.
All of this should be able to be minimized from the start of entering gambling, but however, when you first enter gambling there will definitely only be excitement, curiosity and also emotional increases that are unstable and lead to many mistakes.

Limitation in time and finances are the main factors in context like this, isn't it very sad when someone works or does business at any time in several years and has to be destroyed because of ephemeral pleasure and satisfaction.
Maybe after something like this happens they will be able to think properly and that is the experience that is called the most useful teacher.

ethereumhunter

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Quote from: Amphenomenon on May 16, 2024, 05:46:06 AM

Addiction, I wonder how is family is actually coping now, sadly he failed to see earlier too much pleasure is pain.

One lesson I learnt from this is from the fact that it doesn't matter if others are cheering for you and loves or admire you for what you do, try to check how each decision you're making is affecting your life because this man had fans including others who just came to the casino to watch him play, I guess all these false glory affected him and he became what he is now, how cruel Addiction can always be, sigh.

Yeah, addiction is something that we must avoids. We already see what the impact of addiction to our lives so we must not use gambling as a serious thing in our lives. We will gets that pain when we becomes addiction and that will impact to our family whether they like it or not. Our family lives will also ruins because of our addiction and everything will changes becomes worst.

We have that lessons so we must always take care of ourselves and not use much money to playing gambling. After all, playing gambling is only for fun and in our spare time and not too often playing gambling because that can triggers us to becomes addicted to gambling. The addiction can ruins someone lives and their family and no one wants to experience that so we must be careful when playing gambling.

Don Pedro Dinero

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Quote from: Eternad on May 15, 2024, 12:57:21 PM

The problem is he use all his fortune just to come up with that wagering volume and no person in their right mind will do that unless they are not mentally stable just like the subject here.

Of course, apart from the scandalous amount, we have to think that he lost everything he had. For others it might be $50,000 but that's gambling everything.

Quote from: NAPK1NS_RA3 on May 16, 2024, 11:07:14 PM

I believe that although they did take advantage of him, he got himself in that mess. I don't know how someone with that much money could gamble...at least gamble that much. Makes no sense to me.

That's due to mental problem, addiction. If you read the news you will see that he could spend 24 hours gambling on $25 multi-line slot machines. That's not right in the head.

Topic: Losing all your fortune with just 3 years - page 8. (Read 1697 times)