Man lost £20,000 in one night after becoming addicted to online gambling! - page 3.

Desmong

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Quote from: Rengga Jati on August 07, 2021, 10:55:01 AM

Quote from: ene1980 on August 07, 2021, 10:11:02 AM

-snip-

If we count from the annual salary, of course, this is a big amount.
But, if those are those who are often gambling in huge amounts, win and lose several times, it may be usual for them.
however, whatever condition of the gambler that lost that high amount, I think that losing that big amount is very a pity, maybe he thinks he will immediately get his luck and multiply his money. But what happens otherwise, actually loses that much money.

It's never a pity to me cause he might lost more than such amount of money and also gained more that is greater than what he had lost. We have investors gamblers who can gamble with more $50k and even more without shaking or having phobia of losing their funds because they'll have what it takes. I have someone that gambled with $1m and make more than $3m just within few hours.

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Quote from: hahay on August 15, 2021, 08:54:33 AM

At least there will always be good things after suffering and I think that treatment only happened because he had a big loss. That is, if he does not suffer a major defeat then it is unlikely that treatment will be possible, because the treatment he is doing is only for a recovery, perhaps because he is not ready for the defeat. Well, this incident can at least give a lesson to many people as well and not only for himself, having a lot of money doesn't mean we can spend it quickly because in gambling we have to be aware of the time to stop even though we still have money in our pockets.

Severe addiction to anything needs to be considered as mental disease. However the majority of the gamblers doesn't believe that gambling addiction needs treatment and by the time they take help, it is too late. Early diagnosis and treatment can save the gambler from complete financial ruin. A lot of people say that it is the duty of the casinos (both online and offline varieties) to help such people. But I disagree. There is nothing that the casinos can do about it, if the individual himself refuses help.

hahay

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Quote from: bryant.coleman on August 15, 2021, 08:31:09 AM

Quote from: Silberman on August 13, 2021, 06:04:25 PM

In the article it is stated that he lost a total of £40k pounds of which £10k came from borrowing from friends, family and banks, the rest came from a property that he had sold, so fortunately for him he's not so heavily indebted and even if he has an average job he should be able to bounce back as long as he doesn't make another mistake, however losing so much money in one single night even for a reasonably wealthy person is is still incredibly painful.

This may sound harsh, but sometimes heavy financial losses are necessary to wean off gambling addicts from this habit. Hopefully he has learnt the lesson, and will never again involve himself with such behavior. And as you mentioned, it is not a life-threatening amount. The article also states that he has managed to kick the habit, after getting himself treated Cardiff-based at the Footsteps to Recovery institution. So eventually, this loss did something good to him. If he hasn't lost this amount, would he agree to the treatment?

At least there will always be good things after suffering and I think that treatment only happened because he had a big loss. That is, if he does not suffer a major defeat then it is unlikely that treatment will be possible, because the treatment he is doing is only for a recovery, perhaps because he is not ready for the defeat. Well, this incident can at least give a lesson to many people as well and not only for himself, having a lot of money doesn't mean we can spend it quickly because in gambling we have to be aware of the time to stop even though we still have money in our pockets.

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Quote from: dunfida on August 13, 2021, 06:59:34 PM

There's always a way for a problem to be solved but you should first solved out your addiction on where you wouldnt really play for a while and focusing on repaying those debts and since you do have some work

and some businesses then you might able to resolve it in no time.Its just a matter of dedication and seriousness of quitting gambling and fixed everything that had been mainly affected by such mistake

that you had done in the past.It might sound easy but its not since its neither you would able to get away or get rid with the addiction or would fail to do so.

If that person has an addiction to gambling and other problems that can make him in trouble, he needs to solve his gambling problem as he can play more to distract the other problem that come to him. I agree that it is just a matter of seriousness for him not to playing gambling forever and that can happen if only he realizes that gambling can not make him happy instead of giving the other problem.

Getting rid of the addiction will not be easy, especially if he is heavy addicted to gambling and that will be more difficult if he does not have other people who can support him to get out from the addiction. If he can solve his gambling addiction, he will get the other way to solve the other problem.

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Quote from: Silberman on August 13, 2021, 06:04:25 PM

In the article it is stated that he lost a total of £40k pounds of which £10k came from borrowing from friends, family and banks, the rest came from a property that he had sold, so fortunately for him he's not so heavily indebted and even if he has an average job he should be able to bounce back as long as he doesn't make another mistake, however losing so much money in one single night even for a reasonably wealthy person is is still incredibly painful.

This may sound harsh, but sometimes heavy financial losses are necessary to wean off gambling addicts from this habit. Hopefully he has learnt the lesson, and will never again involve himself with such behavior. And as you mentioned, it is not a life-threatening amount. The article also states that he has managed to kick the habit, after getting himself treated Cardiff-based at the Footsteps to Recovery institution. So eventually, this loss did something good to him. If he hasn't lost this amount, would he agree to the treatment?

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Quote from: Silberman on August 13, 2021, 06:04:25 PM

Quote from: KTChampions on August 11, 2021, 08:38:59 AM

Quote from: Jackl87 on August 10, 2021, 05:03:21 AM

Quote from: KTChampions on August 06, 2021, 06:29:17 PM

To be objective, this amount is not critical for developed countries. In fact, this is income for 5-6 months (I can be wrong, but not much). Therefore, I would agree with the statement that it is just money. They can be earned again. And by the way, everyone who, for example, did not buy Bitcoin or Ethereum cheaply has potentially lost much more Grin

I disagree here. I just googled and according to the internet the average wage for the UK was 29.000 pounds back in 2018 and that was before taxes! So this should be probably around 20k pounds after taxes. So this loss was basically exactly worth one year of wages after taxes for the average british worker. So if we assume that most people also have to pay rent or have to pay back a loan for their house or flat that they own than i would say, it is pretty hard for the average guy to put aside 20k pounds if you have that many running costs each and every months. So i would say that for the average person even in first world countries it is definitely critical to lose 20k pounds in one night. Maybe not in a way that your life is over and you have to sell everything you own but in a way that you need a few years at least to recover from that.

Hmm ... maybe I don't have a good enough estimate of the average income of the British, okay. But from your calculations it turns out that this gambler clearly does not belong to the class of ordinary workers, because despite the current expenses, the high cost of living, etc. he had vacant £ 20k to lose overnight at the casino, right? Accordingly, I can assume that this loss was not critical for him.

In the article it is stated that he lost a total of £40k pounds of which £10k came from borrowing from friends, family and banks, the rest came from a property that he had sold, so fortunately for him he's not so heavily indebted and even if he has an average job he should be able to bounce back as long as he doesn't make another mistake, however losing so much money in one single night even for a reasonably wealthy person is is still incredibly painful.

There's always a way for a problem to be solved but you should first solved out your addiction on where you wouldnt really play for a while and focusing on repaying those debts and since you do have some work

and some businesses then you might able to resolve it in no time.Its just a matter of dedication and seriousness of quitting gambling and fixed everything that had been mainly affected by such mistake

that you had done in the past.It might sound easy but its not since its neither you would able to get away or get rid with the addiction or would fail to do so.

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Quote from: KTChampions on August 11, 2021, 08:38:59 AM

Quote from: Jackl87 on August 10, 2021, 05:03:21 AM

Quote from: KTChampions on August 06, 2021, 06:29:17 PM

To be objective, this amount is not critical for developed countries. In fact, this is income for 5-6 months (I can be wrong, but not much). Therefore, I would agree with the statement that it is just money. They can be earned again. And by the way, everyone who, for example, did not buy Bitcoin or Ethereum cheaply has potentially lost much more Grin

I disagree here. I just googled and according to the internet the average wage for the UK was 29.000 pounds back in 2018 and that was before taxes! So this should be probably around 20k pounds after taxes. So this loss was basically exactly worth one year of wages after taxes for the average british worker. So if we assume that most people also have to pay rent or have to pay back a loan for their house or flat that they own than i would say, it is pretty hard for the average guy to put aside 20k pounds if you have that many running costs each and every months. So i would say that for the average person even in first world countries it is definitely critical to lose 20k pounds in one night. Maybe not in a way that your life is over and you have to sell everything you own but in a way that you need a few years at least to recover from that.

Hmm ... maybe I don't have a good enough estimate of the average income of the British, okay. But from your calculations it turns out that this gambler clearly does not belong to the class of ordinary workers, because despite the current expenses, the high cost of living, etc. he had vacant £ 20k to lose overnight at the casino, right? Accordingly, I can assume that this loss was not critical for him.

In the article it is stated that he lost a total of £40k pounds of which £10k came from borrowing from friends, family and banks, the rest came from a property that he had sold, so fortunately for him he's not so heavily indebted and even if he has an average job he should be able to bounce back as long as he doesn't make another mistake, however losing so much money in one single night even for a reasonably wealthy person is is still incredibly painful.

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Quote from: Jackl87 on August 10, 2021, 05:03:21 AM

Quote from: KTChampions on August 06, 2021, 06:29:17 PM

To be objective, this amount is not critical for developed countries. In fact, this is income for 5-6 months (I can be wrong, but not much). Therefore, I would agree with the statement that it is just money. They can be earned again. And by the way, everyone who, for example, did not buy Bitcoin or Ethereum cheaply has potentially lost much more Grin

I disagree here. I just googled and according to the internet the average wage for the UK was 29.000 pounds back in 2018 and that was before taxes! So this should be probably around 20k pounds after taxes. So this loss was basically exactly worth one year of wages after taxes for the average british worker. So if we assume that most people also have to pay rent or have to pay back a loan for their house or flat that they own than i would say, it is pretty hard for the average guy to put aside 20k pounds if you have that many running costs each and every months. So i would say that for the average person even in first world countries it is definitely critical to lose 20k pounds in one night. Maybe not in a way that your life is over and you have to sell everything you own but in a way that you need a few years at least to recover from that.

Hmm ... maybe I don't have a good enough estimate of the average income of the British, okay. But from your calculations it turns out that this gambler clearly does not belong to the class of ordinary workers, because despite the current expenses, the high cost of living, etc. he had vacant £ 20k to lose overnight at the casino, right? Accordingly, I can assume that this loss was not critical for him.

traderethereum

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Quote from: kotajikikox on August 10, 2021, 05:28:44 AM

Quote from: traderethereum on August 10, 2021, 03:58:59 AM

Quote from: fortunecrypto on August 08, 2021, 02:37:47 AM

Quote from: rhomelmabini on May 10, 2021, 10:33:38 PM

Quote

After becoming addicted to online casino games in March last year, he lost £40,000 in the space of a month, losing half of that in just one night.

After losing that money too, he found himself in massive debt, and contemplated taking his own life.

https://www.mirror.co.uk/news/uk-news/man-lost-20000-one-night-24067466

I don't know why they are caught up in this moment but I think people know the risks yet they still try. Was it appropriate for him to call the gambling firm wrong or he was right? (See the last part of the article or better read the 3 mins. article instead)

He is not guided and has no control of himself he is like a timebomb waiting to explode, this is what usually happens if you won a big amount of money on your first try playing, you thought it's all easy and you just need a big bankroll, this is what a guy told me that I always regain my losses by using a martingale strategy, which old gamers know that cannot be trusted, always do your research if one guy told you a strategy to win in gambling.

Having no control will be his mistake as he does not realize that using more money only leads him to get more losses, which proves that he is losing so much money.

The biggest mistake of every gambler is to chase losses because almost majority of them only lose more than winning , because gambling must be treated with moderation and not just risking everything for the sake of 1 day winning .

When you can use gambling moderately, you will not get a big loss. Chasing your losses will only give you more loss and that means you can not gambling with control instead use your money to recover the losses.
We should treat gambling as it was so we do not lose too much money and know when our time is enough to play gambling.

Quote from: kotajikikox on August 10, 2021, 05:28:44 AM

Quote from: traderethereum on August 10, 2021, 03:58:59 AM

If he can think to stop gambling right after he wins much money from gambling, he will have a chance to enjoy the money and not return to gambling for some time.
But the greediness somehow attracts him to chase the next winning that he can not get instead of getting more losses and losing all of the money.
Recovering the losses will be the difficult thing the gamblers can do because I doubt he can win back all of his money.

Greediness , the attitude that always makes a person loser and addicted.

you want to win in gambling? then learn to limit your expectation and desire first.

When your purpose playing gambling is because wanting to win the games, you will not have a big chance to win.
You will get more and more losses, especially if you have greediness to chasing the next winning.
I agree about learning how to use the limit so we do not have a big hope to win, although many people will always want to win from gambling.

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Quote from: fortunecrypto on August 08, 2021, 02:37:47 AM

Quote from: rhomelmabini on May 10, 2021, 10:33:38 PM

Quote

After becoming addicted to online casino games in March last year, he lost £40,000 in the space of a month, losing half of that in just one night.

After losing that money too, he found himself in massive debt, and contemplated taking his own life.

https://www.mirror.co.uk/news/uk-news/man-lost-20000-one-night-24067466

I don't know why they are caught up in this moment but I think people know the risks yet they still try. Was it appropriate for him to call the gambling firm wrong or he was right? (See the last part of the article or better read the 3 mins. article instead)

He is not guided and has no control of himself he is like a timebomb waiting to explode, this is what usually happens if you won a big amount of money on your first try playing, you thought it's all easy and you just need a big bankroll, this is what a guy told me that I always regain my losses by using a martingale strategy, which old gamers know that cannot be trusted, always do your research if one guy told you a strategy to win in gambling.

This is something that happens a lot, a person thinks that they have figured out how to make money at gambling and they decide to keep doing it just because they expect to get benefits out of it instead of doing it because they are obtaining entertainment, and this can be a very difficult spot to be in because as soon as your luck begins to turn against you then anxiety is going to begin to creep in and you are bound to make mistakes, and then when you lose money you are going to want to recover it and you are going to take unacceptable risks in order to do so.

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Quote from: ?? on ??

If you have a lot of money like $20,000 do not gamble it is a bad combination. If you do not have a lot of money then do not gamble. Only gamble what you can afford to lose is a common saying but I would say only gamble a % of what you can afford to lose to stop you from losing all that money.

that is the problem for the mentioned person because that 20k euro amount seems like his Lifetime funds but he decides to gamble and that means stupidity right?

then the problem is why it looks like people are concern about his stupid idea when he losses, but no one will care if he wins.

this story has just been exaggerated but the truth is this is just like many gambling addict experience and story.

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Quote from: kotajikikox on August 10, 2021, 05:28:44 AM

Greediness , the attitude that always makes a person loser and addicted.

you want to win in gambling? then learn to limit your expectation and desire first.

Greed dominates bad behavior that is difficult to control for gambling addicts, there is no instant way to stop greedy behavior but you stop gambling activities temporarily so that you can control your brain and lust.

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Quote from: traderethereum on August 10, 2021, 03:58:59 AM

Quote from: fortunecrypto on August 08, 2021, 02:37:47 AM

Quote from: rhomelmabini on May 10, 2021, 10:33:38 PM

Quote

After becoming addicted to online casino games in March last year, he lost £40,000 in the space of a month, losing half of that in just one night.

After losing that money too, he found himself in massive debt, and contemplated taking his own life.

https://www.mirror.co.uk/news/uk-news/man-lost-20000-one-night-24067466

I don't know why they are caught up in this moment but I think people know the risks yet they still try. Was it appropriate for him to call the gambling firm wrong or he was right? (See the last part of the article or better read the 3 mins. article instead)

He is not guided and has no control of himself he is like a timebomb waiting to explode, this is what usually happens if you won a big amount of money on your first try playing, you thought it's all easy and you just need a big bankroll, this is what a guy told me that I always regain my losses by using a martingale strategy, which old gamers know that cannot be trusted, always do your research if one guy told you a strategy to win in gambling.

Having no control will be his mistake as he does not realize that using more money only leads him to get more losses, which proves that he is losing so much money.

The biggest mistake of every gambler is to chase losses because almost majority of them only lose more than winning , because gambling must be treated with moderation and not just risking everything for the sake of 1 day winning .

Quote

If he can think to stop gambling right after he wins much money from gambling, he will have a chance to enjoy the money and not return to gambling for some time.
But the greediness somehow attracts him to chase the next winning that he can not get instead of getting more losses and losing all of the money.
Recovering the losses will be the difficult thing the gamblers can do because I doubt he can win back all of his money.

Greediness , the attitude that always makes a person loser and addicted.

you want to win in gambling? then learn to limit your expectation and desire first.

Jackl87

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Quote from: KTChampions on August 06, 2021, 06:29:17 PM

To be objective, this amount is not critical for developed countries. In fact, this is income for 5-6 months (I can be wrong, but not much). Therefore, I would agree with the statement that it is just money. They can be earned again. And by the way, everyone who, for example, did not buy Bitcoin or Ethereum cheaply has potentially lost much more Grin

I disagree here. I just googled and according to the internet the average wage for the UK was 29.000 pounds back in 2018 and that was before taxes! So this should be probably around 20k pounds after taxes. So this loss was basically exactly worth one year of wages after taxes for the average british worker. So if we assume that most people also have to pay rent or have to pay back a loan for their house or flat that they own than i would say, it is pretty hard for the average guy to put aside 20k pounds if you have that many running costs each and every months. So i would say that for the average person even in first world countries it is definitely critical to lose 20k pounds in one night. Maybe not in a way that your life is over and you have to sell everything you own but in a way that you need a few years at least to recover from that.

traderethereum

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Quote from: fortunecrypto on August 08, 2021, 02:37:47 AM

Quote from: rhomelmabini on May 10, 2021, 10:33:38 PM

Quote

After becoming addicted to online casino games in March last year, he lost £40,000 in the space of a month, losing half of that in just one night.

After losing that money too, he found himself in massive debt, and contemplated taking his own life.

https://www.mirror.co.uk/news/uk-news/man-lost-20000-one-night-24067466

I don't know why they are caught up in this moment but I think people know the risks yet they still try. Was it appropriate for him to call the gambling firm wrong or he was right? (See the last part of the article or better read the 3 mins. article instead)

He is not guided and has no control of himself he is like a timebomb waiting to explode, this is what usually happens if you won a big amount of money on your first try playing, you thought it's all easy and you just need a big bankroll, this is what a guy told me that I always regain my losses by using a martingale strategy, which old gamers know that cannot be trusted, always do your research if one guy told you a strategy to win in gambling.

Having no control will be his mistake as he does not realize that using more money only leads him to get more losses, which proves that he is losing so much money.
If he can think to stop gambling right after he wins much money from gambling, he will have a chance to enjoy the money and not return to gambling for some time.
But the greediness somehow attracts him to chase the next winning that he can not get instead of getting more losses and losing all of the money.
Recovering the losses will be the difficult thing the gamblers can do because I doubt he can win back all of his money.

lixer

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Quote from: LUCKMCFLY on August 10, 2021, 01:40:57 AM

The bad thing is when he is in a bad streak, the player if he does not have enough self-control, he does not know when he can stop playing, and this is linked to the personality type, because at one point the player forgets the value of money, since he only wants is to win and win, he does not measure consequences, at that moment is when he goes into addiction.

In my opinion on both good and bad streaks, gamblers usually do lose self-control. Because, both positive and negative rolls will disturb the balance of emotions of gamblers and when gamblers start losing their control over emotions then they start taking worst decisions like adding more funds to bankroll and then increasing bet amount randomly and then forgetting to generate new paring-seed.

I have seen gamblers lose in thousands on each round still they were in hurry to win so that they believe that they could recover all the losses and may leave the casino with profits. On one occasion, a friend of gambler was trying to understand the worst current situation of gambling, but that gambler refused to listen to his words and followed his own intuitions and lost all his money.

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Quote from: Desmong on August 09, 2021, 10:28:18 AM

Quote from: molsewid on August 05, 2021, 10:13:05 AM

Quote from: Naficopa on August 05, 2021, 06:20:55 AM

Unfortunately, addiction does just that. There are no limits for an addicted person. As in this case, people go into debt as long as they can, because they still believe that there will be a big win that will allow them to pay off all their debt. Unfortunately, this is not happening in most cases. The only way out is, as this guy did, admit that you are addicted and seek help from specialists.

They've been trap in the mindset and urges that if they tried to play again for another chance they will get back the amount that they lost. Trying their luck and lucky time came they win at first and then trying again believing that they will gonna win again but all the amount that they brought on the gambling site losted again and worst they fell into debt, additional debt. I think I saw this kind of scenario in the movies but I know this is happened in the real life situation. I felt bad to those being trapped with this.

This is not a matter of addiction or what so ever. This is gambling and anything can happen anytime, even that most successful gamblers do make loses cause everyday is not meant to be rosy. There would be good days and bad days. We never know how much he had made from gambling, so for the fact that he lost such an exorbitant amount of funds makes some persons to over think claiming gambling is evil, full with a lots if bad addictions which is never true.

Everything is controllable except if there is an external forces acting on the person. Rich gamblers do gamble with big funds and when they lose, they will humbly leave cause they Know that tomorrow might be much more better.

You are right, but the point is to know and have the conviction to withdraw from the game on time, but when it is with the effects of alcohol while playing the brain usually transforms into superman, that is why certain conditions must be met to withdraw from the game on time. I play with losses that are not so great.

The bad thing is when he is in a bad streak, the player if he does not have enough self-control, he does not know when he can stop playing, and this is linked to the personality type, because at one point the player forgets the value of money, since he only wants is to win and win, he does not measure consequences, at that moment is when he goes into addiction.

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Quote from: Fatunad on August 07, 2021, 05:50:19 PM

-snip-

Exactly it will depend on the financial status of everyone who plays gambling at all. And we may be different.
However, in this case, Is it true that someone who is rich (or that man) is used to or not a problem when losing money like that much in gambling?

Quote from: rhomelmabini on August 07, 2021, 05:54:43 PM

Well, he got out of control and just caught up on what emotion he feels on that moment. The only reason is that he thinks he can get it if he chase the losses but it's undeniable that if we chase losses the more we get it, it's like we are in law of attraction moment. That is a huge amount to be honest and he can't get it in a monthly salary yet he risks it in one day, a pity one. This is just an eye opener to everyone and that's just an expensive lesson he must take.

Yes, this case really shows us how money and risk management are very important, plus good emotion when gambling. gambling may be fair enough when we know how to gamble wisely and smartly, not only gambling and spending money. From this case, we can see how he might make a mistake, tempted by very high desire, and very high expectation without abling to manage the strategy.

ene1980

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Quote from: KTChampions on August 07, 2021, 05:35:40 PM

~
Ez

For example, in the era of ICO, many participants in this forum received tens of thousands of dollars for performing simple actions or for wearing a signature. How could you lose this easy money? Sometimes it was an exit from an asset at the wrong time, sometimes on the contrary - you remained in the asset and it became very cheap. This happened to me several times, so I do not look back (take care of my psyche) Wink

but the fact remains - potentially I lost a huge amount of money.
When I wrote that message, I kept this script in my head, so maybe you did not understand me.

I failed to get into your head to understand the script Cheesy

. Everyone had those times when your coins rallies 1000% and you kept holding them longer thinking that it will rally further and then the market taking everything you think you made down the drain making it worthless. This is an experience everyone had during the ICO hype and i also went through the same feeling as yours and i am sure many went through that, but truth is i made my profits but failed to book huge profits in some of the hyped up projects in time, but if i started thinking as potential amount i might have gone through depression Grin

.

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Quote from: molsewid on August 05, 2021, 10:13:05 AM

Quote from: Naficopa on August 05, 2021, 06:20:55 AM

Unfortunately, addiction does just that. There are no limits for an addicted person. As in this case, people go into debt as long as they can, because they still believe that there will be a big win that will allow them to pay off all their debt. Unfortunately, this is not happening in most cases. The only way out is, as this guy did, admit that you are addicted and seek help from specialists.

They've been trap in the mindset and urges that if they tried to play again for another chance they will get back the amount that they lost. Trying their luck and lucky time came they win at first and then trying again believing that they will gonna win again but all the amount that they brought on the gambling site losted again and worst they fell into debt, additional debt. I think I saw this kind of scenario in the movies but I know this is happened in the real life situation. I felt bad to those being trapped with this.

This is not a matter of addiction or what so ever. This is gambling and anything can happen anytime, even that most successful gamblers do make loses cause everyday is not meant to be rosy. There would be good days and bad days. We never know how much he had made from gambling, so for the fact that he lost such an exorbitant amount of funds makes some persons to over think claiming gambling is evil, full with a lots if bad addictions which is never true.

Everything is controllable except if there is an external forces acting on the person. Rich gamblers do gamble with big funds and when they lose, they will humbly leave cause they Know that tomorrow might be much more better.

Topic: Man lost £20,000 in one night after becoming addicted to online gambling! - page 3. (Read 3792 times)