Phil Mickelson is one of the popular golfer. Even in his fifties he's good to make a major trophy win. It looks like he have understood the gambling problem at the right time, if not he might've missed his professional career. For him this loss hasn't made a big blow, however he restricted himself from losing much bigger amount.
Popular people sharing their experience will help common man think twice before getting into gambling or chasing the loses out of gambling.
Topic: Phil Mickelson Opens Up About Losing MILLIONS From Gambling - page 4. (Read 569 times)
I guess him and other sports personalities who have amassed millions in their career will fall on gambling as part of coping maybe specially if they have sort of retired. And that's where many athletes in the past become bankrupt, not taking care of their money, maybe through gambling and bad investment. Hopefully he can still control himself and the therapy will help him with his gambling addiction. That is huge amount that he wasted, money that some of us could only dream of having one day. And the lesson here is that everyone could be susceptible to gambling, even those who have money.
Since Mickelson was a golfer his retirement did not came as fast as it comes for other athletes, but despite this fact most athletes develop serious issues when it comes to money management, they get used to make a lot of money with relative ease that when they finally retire they cannot stop spending as much money as they did before but without the income to back those expenses, which means that sooner or later they will face bankruptcy, and while it does not seems as if Mickelson went that far he still lost a fortune in the process. 
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Mickelson suffer over $56 million in gambling loss and also spend hours for his therapy. When a guy already enroll himself in a therapy, you can tell its already bad.
I would say it was too late for him to enroll himself into therapy after loosing a whooping $56 millions, he should have done that when he lost his first million then it would make sense and he could have saved the rest, but what is the point when he looses everything and then understanding his mistakes and enrolling himself Mickelson suffer over $56 million in gambling loss and also spend hours for his therapy. When a guy already enroll himself in a therapy, you can tell its already bad.
. It is a recurring story from athletes where they misplace their wealth and end up being broke and it is really sad to hear as it will not take much to appoint a financial manager. 
It must be hard to cure such gambling addiction since he make a living out of golf sport, he is expose to this sport all his life. The only way I guess is to retire and if he still gambles after that, its really getting worse.
But, sports and gambling are I think two different things. It is in fact known that being exposed to sports can cure different kinds of addiction and bad habits and of course this includes gambling. Golf is a decent sport and known as the sport for the rich, if he is a player of this sport, chances are that he earns decent too. You can rather say that it's hard to get out of gambling because of this fact. If he retires, he will not be busy and it will be easy for him to think about gambling. Add in that he cant obtain money regularly because he is not working anymore, so for him, gambling is a way to get money as much as possible.There is a lesson in his story and that is to not be confident enough with yourself because no matter how you think you are skillful enough, there is something out there that can beat you.
He had been gaming since 2010-2014. Five years of gambling, yet he didn't realized he is not that good like his prime, he must be chasing his loss like everyone who in the process resulted to more loss.
I think there are also several times that he got a big win on that 5 years period of gambling.
It's just that in the long run, the greed becomes higher that he gambles not only just about to chase the losses but to earn more money.
The big winning experience is addictive that anyone wants to feel that experience again. And to feel that experience again, they need to continue to gamble.
It must be hard to cure such gambling addiction since he make a living out of golf sport, he is expose to this sport all his life. The only way I guess is to retire and if he still gambles after that, its really getting worse.
It's really hard to bounce back coming from a big loss. Emotional damage is far more worst to deal with.
Fortunately, he now back again to his usual self and realized that it's not too late to change for good. I hope other gamblers that can't resist doing gambling even if they are totally fuck*ed up can have a mindset like that.
He might lose big, about millions, but I think he still has lots of gas on his tank remaining. Better that he becomes responsible after losing big as a career in his sports is not forever. He is getting big paychecks during his active days that's why he never got affected by his loss from gambling and can sustain it in the long run until 1 day, he realized that it's not good anymore.
Whales before turning to a responsible gamblers should really lose big to trigger that behaviour. Without that big loss experience, they won't learn.
Whales before turning to a responsible gamblers should really lose big to trigger that behaviour. Without that big loss experience, they won't learn.
Unfortunately, its a bit late when a person has to experience a big devastating event in life to get the lesson sink in to change his life. more than $50M is more than a life time retirement fund.
He must have heard of famous people who got broke because of gambling such as Coco Diaz. People talk about them in the gambling table. The realization occur to someone when he is already alone and without money.
He might lose big, about millions, but I think he still has lots of gas on his tank remaining. Better that he becomes responsible after losing big as a career in his sports is not forever. He is getting big paychecks during his active days that's why he never got affected by his loss from gambling and can sustain it in the long run until 1 day, he realized that it's not good anymore.
Whales before turning to a responsible gamblers should really lose big to trigger that behaviour. Without that big loss experience, they won't learn.
Whales before turning to a responsible gamblers should really lose big to trigger that behaviour. Without that big loss experience, they won't learn.
That bad experience is good for me. If he continues to win, then he might not wake up someday to realize that something is not good. He is financially capable to support his gambling habits that's why I don't consider that a mistake for him. He never becomes a madman or irresponsible even after losing that amount. More importantly, he now understands that continuing to gamble might not help.
And no, he never chases losses but rather just wants to earn more even earning lots already at his beloved sports - greed.
In gambling, it's more entertaining to earn more, and that is what big whales do, not to chase their losses.
And no, he never chases losses but rather just wants to earn more even earning lots already at his beloved sports - greed.
In gambling, it's more entertaining to earn more, and that is what big whales do, not to chase their losses.
One more worst example that we can use as a real example of gambling made him sink and lose a lot of money and undergo therapy sessions to get rid of his addiction. The more we chase our losses in gambling, the more we will actually lose money and if we don't wake up quickly from what we are doing, we could end up with him and it could even get worse. There are indeed some people who can win a lot of money from gambling, but that is rare and can be counted on the fingers and those are the people who are really lucky in gambling. We should not try to follow them because our luck will not be like theirs.
This is what we say fate, because what he lost is a big money. With this a big number of people can have a very good life through their entire life. For him this is his hard earned money, out of some plans he went for making it big. The risk he took didn't give him success and made him loss. He was in the act of chasing his loss with bigger bets which is the reason why he have lost such a big money. Anyhow atleast by now he could make his life successful stopping to chase the losses. The fact that the is into therapy, only says he already has a gambling problem in him. Losing millions of dollars is okay as long as you can afford to lose, everyone has our range in gambling, but if we go beyond that range, that's where the problem will start.
This is for all of us, we have to learn our lessons, not necessary that we will lose before we learn, we should learn from other people's experience, so OP thanks for sharing.
This is for all of us, we have to learn our lessons, not necessary that we will lose before we learn, we should learn from other people's experience, so OP thanks for sharing.
Yeah I agree only therapy can cure gambling addictions if you are making millions you can go on losing money from gambling and you won't even regret it but once the money coming in stops, that's when you realized that you have a worse gambling addiction, Phil did the right thing and its not yet late after he is cured he will be a good example and a role model to people who are addicted to gambling.
I guess him and other sports personalities who have amassed millions in their career will fall on gambling as part of coping maybe specially if they have sort of retired. And that's where many athletes in the past become bankrupt, not taking care of their money, maybe through gambling and bad investment. Hopefully he can still control himself and the therapy will help him with his gambling addiction. That is huge amount that he wasted, money that some of us could only dream of having one day. And the lesson here is that everyone could be susceptible to gambling, even those who have money.
The fact that the is into therapy, only says he already has a gambling problem in him. Losing millions of dollars is okay as long as you can afford to lose, everyone has our range in gambling, but if we go beyond that range, that's where the problem will start.
This is for all of us, we have to learn our lessons, not necessary that we will lose before we learn, we should learn from other people's experience, so OP thanks for sharing.
This is for all of us, we have to learn our lessons, not necessary that we will lose before we learn, we should learn from other people's experience, so OP thanks for sharing.
I remember reading the news some weeks ago about Phil Mickelson losing a fortune while gambling, at the time I disregarded this as it was coming from a nonofficial source but now it seems to have been corroborated by him, it is sad because he is someone that did not really needed to go through anything like this as at the first signs of trouble he should have tried to get help, but when you have so much money it takes a lot of time until you begin to feel the effects of all the money lost, so it is not surprising he has lost so much money over the years at gambling.
You only realize it when gambling is taking a toll on your pocket or your mental health, gambling addicts will have to lose almost everything and feel the abyss to finally realize that they really need help and cure their addiction, opening up and admitting is the first step and important step, but looking at the amount he loses in gambling one will only feel the waste of money, this is something that you don't want to happen to you.
https://www.youtube.com/watch?v=1qBpH9DK370
Quote
“Gambling has been part of my life ever since I can remember. But about a decade ago is when I would say it became reckless. It’s embarrassing. I don’t like that people know.”
Another biggest loser in gambling is on the list adding to the competitive personalities they have in sports. He had been gaming since 2010-2014. Five years of gambling, yet he didn't realized he is not that good like his prime, he must be chasing his loss like everyone who in the process resulted to more loss. Mickelson suffer over $56 million in gambling loss and also spend hours for his therapy. When a guy already enroll himself in a therapy, you can tell its already bad.
When you are the ones playing your sports, you'll trust on your skills which is why he bet so much too. I guess this is also what happened to the NBA stars who fell in same loss. It must be hard to cure such gambling addiction since he make a living out of golf sport, he is expose to this sport all his life. The only way I guess is to retire and if he still gambles after that, its really getting worse.
I think this is a person who has lost a very large amount because he gambled for a long time and in the end only got regrets, it is better when you want to gamble you must understand first that this has a very high risk and you should play it safe better instead of taking extreme gambling. Hopefully from this incident Phil can get back up and of course let's play gambling again but in a safe way and stay careful.
https://www.youtube.com/watch?v=1qBpH9DK370
Quote
“Gambling has been part of my life ever since I can remember. But about a decade ago is when I would say it became reckless. It’s embarrassing. I don’t like that people know.”
Another biggest loser in gambling is on the list adding to the competitive personalities they have in sports. He had been gaming since 2010-2014. Five years of gambling, yet he didn't realized he is not that good like his prime, he must be chasing his loss like everyone who in the process resulted to more loss. Mickelson suffer over $56 million in gambling loss and also spend hours for his therapy. When a guy already enroll himself in a therapy, you can tell its already bad.
When you are the ones playing your sports, you'll trust on your skills which is why he bet so much too. I guess this is also what happened to the NBA stars who fell in same loss. It must be hard to cure such gambling addiction since he make a living out of golf sport, he is expose to this sport all his life. The only way I guess is to retire and if he still gambles after that, its really getting worse.
Opening up about your losses and your mistakes in gambling is part of the therapy it's being honest with your mistakes and admitting them and a willingness to correct them is a good move for a gambler to be a better person, Phil is on the right track, and he is not the only one, there are many sports person who is or were very much into gambling on the peak of their career, the temptations are there especially if you're betting in a sport where you are in where you have an insight on your co-players and events.
It is not yet late for sportsmen like them as long as they are serious and really want to get a cure for their addiction, they excel in the sports they are in they can pass in their therapy too.
I would say that when you have an addiction that make you lose over 56 million dollars and you STILL end up a rich person, that seems like a good deal to me. Addiction is definitely a terrible thing and there is nobody denying that at all, but at the end of the day if you are talking about someone who is wealthy and afterwards still wealthy, that is not a "cautionary tale" to any addicted person.
It's like saying "look at this guy, he was an addict, gambled 56 million dollars away, and he still has tens of millions of dollars in his bank account, so he got off fine" and I would say that's terrible. People literally became homeless and turned to a life of crime because of addiction, Phil got off fine.
It's like saying "look at this guy, he was an addict, gambled 56 million dollars away, and he still has tens of millions of dollars in his bank account, so he got off fine" and I would say that's terrible. People literally became homeless and turned to a life of crime because of addiction, Phil got off fine.
I often watch and read Phil Mickelson's work on golf and the way he bets on gambling, Phil Mickelson is often nicknamed the 'Lefty' in the game of golf.
A case like this in 2012, if I'm not mistaken it also happened to Phil Mickelson, he had to pay around $48 million, to Billy a professional gambler at that time, maybe this is the umpteenth time Mickelson has experienced bad gambling, I think Mickelson's career is not bright anymore in gambling, it seems he should retire soon and live a normal life without gambling.
I think in terms of gambling, maybe we should be able to control ourselves in gambling people as great as Phil Mickelson, can fall if greed is prioritized without good calculations, this can be a valuable history for addicts of the true meaning of gambling.
A case like this in 2012, if I'm not mistaken it also happened to Phil Mickelson, he had to pay around $48 million, to Billy a professional gambler at that time, maybe this is the umpteenth time Mickelson has experienced bad gambling, I think Mickelson's career is not bright anymore in gambling, it seems he should retire soon and live a normal life without gambling.
I think in terms of gambling, maybe we should be able to control ourselves in gambling people as great as Phil Mickelson, can fall if greed is prioritized without good calculations, this can be a valuable history for addicts of the true meaning of gambling.
https://www.youtube.com/watch?v=1qBpH9DK370
Quote
“Gambling has been part of my life ever since I can remember. But about a decade ago is when I would say it became reckless. It’s embarrassing. I don’t like that people know.”
Another biggest loser in gambling is on the list adding to the competitive personalities they have in sports. He had been gaming since 2010-2014. Five years of gambling, yet he didn't realized he is not that good like his prime, he must be chasing his loss like everyone who in the process resulted to more loss. Mickelson suffer over $56 million in gambling loss and also spend hours for his therapy. When a guy already enroll himself in a therapy, you can tell its already bad.
When you are the ones playing your sports, you'll trust on your skills which is why he bet so much too. I guess this is also what happened to the NBA stars who fell in same loss. It must be hard to cure such gambling addiction since he make a living out of golf sport, he is expose to this sport all his life. The only way I guess is to retire and if he still gambles after that, its really getting worse.
Every good gambler should know when to call it a quit and that is what some persons have failed to understand that's why they do end up in great loss to gambling.
I sympathize with him and pray the therapy helps him recovers fully.
Wellllll I don't really think the amount matters here as long as he can handle it (which seems like he actually can, for now, anw). I do hope therapy helps at least to some degree since I know some cases with my friends where therapies did jack on helping them actually move on. Especially if we consider how his wealth isn't exactly going to infinitely increase so losing millions continuously isn't really anything good. I do wonder if he has a tally of his winnings or at least the ratio of W/L since I'm curious whether he's really just unlucky about losing on matches he bet big or he just loses a majority of his bets.
Just like the other athletes that also got into gambling and lose a lot of his earning. It isnt surprising anymore these day since we have heard of them like Mike Jordan and Charles Barkley who also suffer the same fate.
When people has tons of money, they dont just send it to help people as charity, sometimes they also spend just about anything like gambling in casino. Although they lose huge amount, they're not poor.
What they have to overcome is the addiction. Because thats the real battle.
Those who gamble and just play, they are useless trash. Unlike people who gamble and think about how they spend their money when they win and think about strategies when they lose. It all depends on how they do the gambling.
Famous people who gamble and lose of course they still have a lot of money in reserve and don't let all their money to gamble. Gambling also needs strategy and management, don't prioritize greed.
Addiction is indeed a disease that is not easy to treat, there must be a loss incident like Phil Mickelson to be aware.
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