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Topic: Spanish Guy loses more than €500.000 in a crypto casino - page 2. (Read 448 times)

hero member
Activity: 2814
Merit: 618
Leading Crypto Sports Betting & Casino Platform
This is quite a huge amount to lose in gambling and from his story it was all his savings he had from work, I still wonder why people think gambling is a way to multiply their funds or take get rich quickly, this should serve as a warning that gambling us not a means to make money, it's all based on luck and it could ruin you, be cautious of gambling addiction.

I didn't read the full story of this Spanish guy but it seems a very stupid and childish behavior to risk all his life saving in gambling and think they he can make money from such acts. Such gamblers usually lose money and they are the ones, responsible for their losses. I wonder where is the mind and heart of people who take such big risks  Huh

Just another story of losing money from gambling addiction and borrowing money just to support this addiction.

I think he took a loan only to fulfill his daily needs and did not gamble from that money. In fact he got another big amount from some company who owed him money but I was surprised that he didn't get any lesson from the previous loss and again gamble with the money he got. Later he got his account suspended but that was a separate story, the lesson to learn is not to deposit and gamble with all your life savings. Be a responsible gambler.  Smiley
hero member
Activity: 1680
Merit: 845
It's a saddening story, but he crossed the line multiple times; he calls €100 to €400 bets, not a considerable amount, and possibly because he himself had quite a bit of money available, otherwise he wouldn't be able to put himself in that position. I'm not implying that only well-off people are able to blow away their money at the casino; any individual could have done the same, but with less money, of course, the scenario still remains the same.

Hopefully, he has learned his lesson, and it'll prevent him from participating in gambling, as he has no respect for money, otherwise he wouldn't call a €400 bet insignificant.
full member
Activity: 868
Merit: 202
imagine living with a salary above the spanish average and having quite a lot of savings, but everything is ruined just because of gambling.  it proves that gambling addiction is quite a serious problem and that it can destroy a person's life in a short time.  it makes a person helpless and unable to do anything because they cannot control it.  this is why someone who is addicted must get professional help as soon as possible to overcome their addiction because we don't know when it will destroy them and worse it also affects the people around them.
hero member
Activity: 2996
Merit: 598
Leading Crypto Sports Betting & Casino Platform
He did the right thing going for a psychiatric treatment if you're betting this huge amount of money and part of which is coming from loan then he has a serious problem in gambling that needs an immediate cure this should be his main concern.

The guy's issue with the casino is complicated, he should get himself cured first before going after the casino as it will have effect on the guy's mental health.

This is one of example of gambler losing control of himself that he is losing money that he can't afford to lose, gambling is like a quicksand once you lose money, and you're uneasy with that losses you will try to recover and that will backfire on you.

full member
Activity: 1484
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This topic is very interesting Don Pedro Dinero. What strikes me most at first is the fact that a company owed him €500.000: in Spain, that's the salary of decades of work. On the other hand, I doubt he would have paid taxes, so for the amount in question it could even be a tax crime. I think the guy should think very carefully about what to do before making a move, it may be in his best interest to accept the loss, indeed.

Secondly, about addiction, it never ceases to surprise me that there are people who are so irrational as to take risks of such caliber. And that, if they do take them, they are not consistent with their decisions. I guess the proverb "what easy comes easy goes" is right.

I also think as what could potentially lead some people who live in a country for example where 500.000 Euros are a very good value,you can even go to retirement before time with that amount considering the cost of living in such country and people who happen to have and own this amount they go and lose it all.Of course this guy needs psychiatric treatment in the first place as he can be called a "psycho" for real,no sane person with a sounded mind would go and lose 500.000 Euro not only in a crypto casino but in whatever casino.The licenses for me are secondary option to discuss here,that is the problem of the casino and this guy,the main problem is how on earth a person who could have gone in retirement with that amount in the country where he lived has gone and lost it all in gambling,that is the real problem of our society nowadays,probably exceed greed.
Well, it cant be helped once a gambler let it greed and addiction take over then until he/she doesn't wake up from what he/she is doing wrong then he/she will keep on commiting the same mistake and rather add more mistake other than being addicted to gambling, remember that greed cause addiction and addiction cause greed, so when it combines a people will not be in right mind anymore to think straight and know what he is doing wrong until things are too late, and that is one the best example of it, the person that lose a huge amount of money from gambling based on the post of OP, I could see that the amount is too much and for sure that gambler is in shock and maybe can't take the burden to fix it because the truth is, its already hard to recover from that big loss and for sure not just in money is his problem, for sure he also has problem when it comes to his family and of course the way he will think.
hero member
Activity: 1330
Merit: 502
Vave.com - Crypto Casino
Anyone who starts gambling should remember that they can both win and lose. There is always a risk, big or small depending on the type of games. This man decided to take a risk and eventually lost all his money. It was his choice. I think this amount could have been used differently, but he decided that way. Gambling is always a risk. This is an absolutely ordinary story that happens to many people every day, but the amount is certainly not ordinary, the amount is quite large
legendary
Activity: 3318
Merit: 1247
Bitcoin Casino Est. 2013
This topic is very interesting Don Pedro Dinero. What strikes me most at first is the fact that a company owed him €500.000: in Spain, that's the salary of decades of work. On the other hand, I doubt he would have paid taxes, so for the amount in question it could even be a tax crime. I think the guy should think very carefully about what to do before making a move, it may be in his best interest to accept the loss, indeed.

Secondly, about addiction, it never ceases to surprise me that there are people who are so irrational as to take risks of such caliber. And that, if they do take them, they are not consistent with their decisions. I guess the proverb "what easy comes easy goes" is right.

I also think as what could potentially lead some people who live in a country for example where 500.000 Euros are a very good value,you can even go to retirement before time with that amount considering the cost of living in such country and people who happen to have and own this amount they go and lose it all.Of course this guy needs psychiatric treatment in the first place as he can be called a "psycho" for real,no sane person with a sounded mind would go and lose 500.000 Euro not only in a crypto casino but in whatever casino.The licenses for me are secondary option to discuss here,that is the problem of the casino and this guy,the main problem is how on earth a person who could have gone in retirement with that amount in the country where he lived has gone and lost it all in gambling,that is the real problem of our society nowadays,probably exceed greed.
legendary
Activity: 1932
Merit: 2354
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This topic is very interesting Don Pedro Dinero. What strikes me most at first is the fact that a company owed him €500.000: in Spain, that's the salary of decades of work. On the other hand, I doubt he would have paid taxes, so for the amount in question it could even be a tax crime. I think the guy should think very carefully about what to do before making a move, it may be in his best interest to accept the loss, indeed.

Secondly, about addiction, it never ceases to surprise me that there are people who are so irrational as to take risks of such caliber. And that, if they do take them, they are not consistent with their decisions. I guess the proverb "what easy comes easy goes" is right.
legendary
Activity: 2912
Merit: 6403
Blackjack.fun
It's about a casino operating in a country where it had no license to offer gambling products.
According to what we read. But we do not know if that is very true or I am not getting it correctly. It is possible that a gambling site may not be providing any gambling service for people in some countries and clearly stated in their terms of service but some people will just want to bypass the restriction and use VPN or other ways to make sure the casinos will not noticed them or trace their IP until the gambler makes a mistake. I guess because that man was not be able to gamble in his country because of the self-exclusion and look for other ways to gamble that got him into a problem.

We know it's true, we have cases lost by both unibet and bet365.
You're at fault if you provide services to a country you're not licensed, if somebody is able to bypass your verification it means your verifications is faulty, and that means you're guilty, just as someone would sell alcohol to an underage boy with a fake id , bars have been sued by victims of a car crash in which a drunk minor caused the accident after drinking there.

So, being in contact with the authorities for supposedly not being able to register but still being allowed to lose 500k?
If Spain gives a common sense ruling in favor of the casino I think it'll be much more business friendly for casinos because such incidents truly make casinos have to face nonsense regulations.

See the problem ?
The casino didn't have a license to operate there in the first place, so what nonsense regulation?
If they would have had one then there would be no case
hero member
Activity: 2352
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I hope he will name the casino because we should have the name of the casino that does shady things. It's shady when a casino lets users bypass restrictions because they deposit lots of money but block other users from restricted territories who win lots of money and don't let them withdraw.

This guy definitely had gambling problems and it's good that he got the psychiatric and psychological help that he desperately needed but I don't understand how he got 500K euros from a crypto company when this guy wasn't financially strong (he had to take a loan from a bank to pay basics).
sr. member
Activity: 588
Merit: 338
I really feel sorry for the guy in the OP that lost his life's savings in gambling, his story should be a lesson to every gambler that thinks that gambling is a get rich quick scheme, they'll end up becoming addicts and  broke. I'm glad that he has realized his mistake and is getting professional help, hopefully he'll come out a better and more responsible person, hopefully to quit gambling or learn to gamble with the amount that he can afford to loose. I think that he'll lose more money if he goes ahead to involve a lawyer because the casino company will ask him that if was winning instead of loses whether they wouldn't be paying him. Let him minimize his loses and move on.
legendary
Activity: 2576
Merit: 1655
Interesting point, why was this post written? Has the player realized that he is at the end of his game, or will he continue to play? It’s good that he had such a sum of money that he regularly spent, and as I understand it, he didn’t owe anyone any money. Well, he lost and lost, the main thing is that others were not harmed. After all, how many good people sometimes lend money to players, then run after the debtors for years?
The amount is, of course, huge, but it was his choice and his choice of how to live further. If we talk about a refund, I feel sorry for the casino, since the casino allowed him to play, although he perfectly understood that he was breaking the rules. And now, because of his addiction, the casino must also return to him what he lost according to the rules.
Dependent people must sign agreements that they bear their risks and no one else owes them anything.

I guess he has the means to pay off his debt and that's why the banks are willing to lend him that big money. And yeah, some gamblers might ran off, but this guy had sense in him to pay so that it will not totally ruin his life.

But the said things is that he has lost so much money that he lost control of everything and he wanted to get back and hopefully self-inclusion could help him. And then go to and seek help from his family so that he can stop this madness for good. And again, this is a reminder for us, that if we fall for the addiction, we might not have the control and can't recover.
legendary
Activity: 2072
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Interesting point, why was this post written? Has the player realized that he is at the end of his game, or will he continue to play? It’s good that he had such a sum of money that he regularly spent, and as I understand it, he didn’t owe anyone any money. Well, he lost and lost, the main thing is that others were not harmed. After all, how many good people sometimes lend money to players, then run after the debtors for years?
The amount is, of course, huge, but it was his choice and his choice of how to live further. If we talk about a refund, I feel sorry for the casino, since the casino allowed him to play, although he perfectly understood that he was breaking the rules. And now, because of his addiction, the casino must also return to him what he lost according to the rules.
Dependent people must sign agreements that they bear their risks and no one else owes them anything.
legendary
Activity: 1358
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this might be a little intrusive on my part but is it possible to share the evidence the OP of that thread shared? I tried clicking the link you shared to see the evidence he provided but I was met with a message that I need to be registered on the forum for three months and has 100 written messages.

I am really curious about which casino the OP of that thread is talking about. Also, if the evidence he shared is sufficient enough, the casino that let him play because he is a big spender needs to be held accountable. the OP also needs to be accountable for his stupidity.

Yeah, I realised about that after I posted the thread here. But if he's made the thread only accessible for certain people on that forum I think I shouldn't publish the evidence here, where everyone can see it.

I have gone over the thread several times and I still don’t get the lawyer part. I don’t understand what he would gain by involving a lawyer to the issue, it’s clear that he has gambling issues and have even requested for self-exclusion in a different casino and now he’s back in a different casino to continue his activities, so what proofs was he speaking about?

 And also “Spanish users have their winning withdrawn and their deposits refunded” is still unclear to me - this sounds like a case that would work if his account was blocked after he won a huge bet but that’s not the case here so I don’t understand why he included it in his post.

It's about a casino operating in a country where it had no license to offer gambling products.

The EU laws and some EU country laws are pretty straightforward (I don't know the case of Spain) but major gambling sites like Unibet were ordered in court to pay back sums lost by people in the Netherlands and bet365 lost a few cases also in Belgium.
Germany is trying to find a way to reimburse losses on casinos not licensed in the country and find a mechanism to force the country that the casinos are registered in to cover the cost also,  a pain in the ass since we have Malta and Gibraltar but there might be some way to do it.

Anyhow there is a precedent in getting your money back from a casino, not sure what chances this guy has but when we take about half a million it might be worth a shot!

You nailed it.

It's about a casino operating in a country where it had no license to offer gambling products.
According to what we read. But we do not know if that is very true or I am not getting it correctly.

I can tell you it's true, and stompix that lives (or has lived) in the EU knows about that as well.

So, being in contact with the authorities for supposedly not being able to register but still being allowed to lose 500k?
If Spain gives a common sense ruling in favor of the casino I think it'll be much more business friendly for casinos because such incidents truly make casinos have to face nonsense regulations.

I do believe in gambling protection but if someone has the means to generate 500k and gamble it away then I don't think they're in dire need of support.

Yeah, that's the point. Most people on the thread are telling him that he should accept his losses because it's his partly or mainly his fault. But I guess he got carried away by a gambling binge and then when it's over and he really assumes he's lost half a million he grabs at any hope to get it back.

Anyway, it is well known that at least some crypto casinos put in their ToS that they do not accept players from x countries and turn a blind eye as long as they are depositing and losing. So they are partly to blame too.
legendary
Activity: 2576
Merit: 1860
Just another proof of the pitfalls of gambling. This kind of story has been told time and again. Unfortunately, lessons won't be learned. Another version will come out every now and then. They just can't stop coming.

The worse part of the story, however, is not that he's been addicted. We've all been hearing addiction stories all the time, after all. The more unfortunate part is that even if he won it's possible his winnings won't be given to him as he is accused of breaching the ToS.

This has been a shady practice among casinos. Users in banned countries are allowed to make deposits and play games. But as soon as withdrawals are requested, they'd be informed that they've violated the terms and that all their winnings are therefore invalid.
legendary
Activity: 2422
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Leading Crypto Sports Betting & Casino Platform
So, being in contact with the authorities for supposedly not being able to register but still being allowed to lose 500k?
If Spain gives a common sense ruling in favor of the casino I think it'll be much more business friendly for casinos because such incidents truly make casinos have to face nonsense regulations.

I do believe in gambling protection but if someone has the means to generate 500k and gamble it away then I don't think they're in dire need of support. Smaller claims should be prioritized because these can be much more ruinous to low income earners.

For sure casinos should follow registration laws but what if he had won? It makes no sense to rule in his favor here in my opinion especially since he was wagering over a long period of time. Doesn't seem very newsworthy to me.
legendary
Activity: 1512
Merit: 4795
Leading Crypto Sports Betting & Casino Platform
It's about a casino operating in a country where it had no license to offer gambling products.
According to what we read. But we do not know if that is very true or I am not getting it correctly. It is possible that a gambling site may not be providing any gambling service for people in some countries and clearly stated in their terms of service but some people will just want to bypass the restriction and use VPN or other ways to make sure the casinos will not noticed them or trace their IP until the gambler makes a mistake. I guess because that man was not be able to gamble in his country because of the self-exclusion and look for other ways to gamble that got him into a problem.
legendary
Activity: 1918
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Let's take it one step at a time...

... his addiction case, since his registration to exempt him from the Casino is only .es, (!? Ok) and in that idea it seems that there is an "escape" of information related to a compulsive player.

-/ It is a sad reality that is handled in High-Stakes environments, at the time, there was a software that tracked fish players at the poker tables, mind you it was legal, then, all the pros knew when a millionaire came to the cash tables to play./-it is example: 2005-2010/-

So, it is possible that the OP case suffered that treatment, so if he manages to prove that his compulsive player information was leaked he may have legal resources.
sr. member
Activity: 434
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I would like to bring here a thread seen in a famous Spanish-speaking forum. I am going to translate part of the OP, but I would like to clarify first that throughout the thread the OP has clarified quite a few things and has provided evidence, so I, who have been in that forum for years, believe that the story is true.

Thread: I lost +500.000€ in the casino

This is not the first story of a gambling addict neither will it be the last. He is of age and knows the consequences of his actions. He breached several rules including gambling in casino that prohibits people from his country from using their platform (he did not tell us how he was able to do that when the casino require KYC, could it be identity theft?). I guess nemesis caught up with him and I do not think there is any serious thing that can come out of the case. He has lost the money to reckless gambling, the earlier he understand that, the better for him. I will not stop him from seeking legal redress but I hope it does not open up other issues that will affect him later.
legendary
Activity: 2912
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Blackjack.fun
I have gone over the thread several times and I still don’t get the lawyer part. I don’t understand what he would gain by involving a lawyer to the issue, it’s clear that he has gambling issues and have even requested for self-exclusion in a different casino and now he’s back in a different casino to continue his activities, so what proofs was he speaking about?

 And also “Spanish users have their winning withdrawn and their deposits refunded” is still unclear to me - this sounds like a case that would work if his account was blocked after he won a huge bet but that’s not the case here so I don’t understand why he included it in his post.

It's about a casino operating in a country where it had no license to offer gambling products.

The EU laws and some EU country laws are pretty straightforward (I don't know the case of Spain) but major gambling sites like Unibet were ordered in court to pay back sums lost by people in the Netherlands and bet365 lost a few cases also in Belgium.
Germany is trying to find a way to reimburse losses on casinos not licensed in the country and find a mechanism to force the country that the casinos are registered in to cover the cost also,  a pain in the ass since we have Malta and Gibraltar but there might be some way to do it.

Anyhow there is a precedent in getting your money back from a casino, not sure what chances this guy has but when we take about half a million it might be worth a shot!


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