This person made $500,000 with gambling and lost it all within 60 seconds!

milewilda

legendary

Activity: 3094

Merit: 1127

Quote from: bigmaster23 on March 25, 2019, 01:58:17 PM

Quote from: emberbekas on February 28, 2019, 02:45:39 AM

Quote from: Polar91 on February 26, 2019, 05:52:46 AM

Quote from: Get-Paid.com on November 18, 2018, 10:11:02 AM

Moral of the story - you can never be rich with gambling, and even if you end up being "rich" - you would lose the whole lot in no time ... only the house wins because the house has an edge.

I don't think so. There are a lot of people who win in lottery with millions in our country. Most of them, they remain rich because they were able to establish their own business and stop betting in lottery because they know it's only once in a lifetime luck.

Once someone can make a good profit and stop the gambling session and cash out his winnings, I think he can enjoy his life and do other positive things with the money. But if someone continues to gamble without a target, he will end up bankrupt.

And what will happen if cant reach on the target and just become loser and loser only? In this case s/he will not be end up with bankrupt?

He mean about a specific winning but most gamblers dont have such thing on mind where they do aim for finite amount as long it can possibly satisfies them but well this
thing is hard yet people are naturally greedy where they do ask for more even if they do already won big amounts. Thirst on getting more winnings is inevitable and this is the main
reason or mistake where gamblers do experience.

bigmaster23

full member

Activity: 518

Merit: 106

WWW.BLOCKCHAIN021.COM

Quote from: emberbekas on February 28, 2019, 02:45:39 AM

Quote from: Polar91 on February 26, 2019, 05:52:46 AM

Quote from: Get-Paid.com on November 18, 2018, 10:11:02 AM

Moral of the story - you can never be rich with gambling, and even if you end up being "rich" - you would lose the whole lot in no time ... only the house wins because the house has an edge.

I don't think so. There are a lot of people who win in lottery with millions in our country. Most of them, they remain rich because they were able to establish their own business and stop betting in lottery because they know it's only once in a lifetime luck.

Once someone can make a good profit and stop the gambling session and cash out his winnings, I think he can enjoy his life and do other positive things with the money. But if someone continues to gamble without a target, he will end up bankrupt.

And what will happen if cant reach on the target and just become loser and loser only? In this case s/he will not be end up with bankrupt?

emberbekas

legendary

Activity: 1904

Merit: 1000

Quote from: Polar91 on February 26, 2019, 05:52:46 AM

Quote from: Get-Paid.com on November 18, 2018, 10:11:02 AM

Moral of the story - you can never be rich with gambling, and even if you end up being "rich" - you would lose the whole lot in no time ... only the house wins because the house has an edge.

I don't think so. There are a lot of people who win in lottery with millions in our country. Most of them, they remain rich because they were able to establish their own business and stop betting in lottery because they know it's only once in a lifetime luck.

Once someone can make a good profit and stop the gambling session and cash out his winnings, I think he can enjoy his life and do other positive things with the money. But if someone continues to gamble without a target, he will end up bankrupt.

Cosbycoin

hero member

Activity: 980

Merit: 506

Quote from: Polar91 on February 26, 2019, 05:52:46 AM

Quote from: Get-Paid.com on November 18, 2018, 10:11:02 AM

Moral of the story - you can never be rich with gambling, and even if you end up being "rich" - you would lose the whole lot in no time ... only the house wins because the house has an edge.

I don't think so. There are a lot of people who win in lottery with millions in our country. Most of them, they remain rich because they were able to establish their own business and stop betting in lottery because they know it's only once in a lifetime luck.

I do not think so. He might have earned this huge stakes of dollars but literally no one would ever spend again all the amount earned on the table. People are rational and rather prefer to put in less than they make in gambling. This is the rule of the table according to the experienced people. And yes many people who win big stay rich long times for they prefer to put back the money in good and certain projects.

Polar91

hero member

Activity: 1120

Merit: 553

Filipino Translator 🇵🇭

Quote from: Get-Paid.com on November 18, 2018, 10:11:02 AM

Moral of the story - you can never be rich with gambling, and even if you end up being "rich" - you would lose the whole lot in no time ... only the house wins because the house has an edge.

I don't think so. There are a lot of people who win in lottery with millions in our country. Most of them, they remain rich because they were able to establish their own business and stop betting in lottery because they know it's only once in a lifetime luck.

xvids

sr. member

Activity: 1176

Merit: 301

That's why you should always limit your gambling,
It is a perfect example of what greed could do to you in gambling,
The person already won a huge amount but the person is still greedy that he lost it all and ended up being in a huge debt.

Moiyah

member

Activity: 630

Merit: 20

So sad, if I were the one who won $500,000. I'll make sure to withdraw the profits already and will put up assets. That person is so greedy that he did not realized the result of his greediness and addiction. It actually ruined him.

bitbollo

legendary

Activity: 3276

Merit: 3537

Nec Recisa Recedit

thanks for sharing this story.
But why people should play with such large amount of money and lose an amount too big?
I mean more they win and have more margin for a bet and more money they played without any withdrawal of winnings?

logfiles

copper member

Activity: 2086

Merit: 1759

Top Crypto Casino

Quote from: Get-Paid.com on November 18, 2018, 10:11:02 AM

Moral of the story - you can never be rich with gambling, and even if you end up being "rich" - you would lose the whole lot in no time ... only the house wins because the house has an edge.

If luck is on your side and you win $500,000, yes you have a chance to stay rich. The problem starts when you start acting too greedy. Wanting to win more and more. The end result is obviously loosing all your previous winnings.
I could win 500,000 USD and just decide to cash out. Does that mean I have not gotten rich through gambling?

omonuyak

sr. member

Activity: 882

Merit: 269

Quote from: PeRo on February 24, 2019, 01:26:41 PM

I always tell people they can't win, only temporarily but you always lose in the long run. But people get greedy amd always think how much money they could win and they play more and more until they fall. You can only win if you get a lucky streak and stop when you've made money and don't gamble ever again. That guy could have lived like a king with that money, but we always want more..

That is truth! It is very difficult for one to continue winning and you should know that the more one continue gambling the more the probability of losing increase. Op lose such huge amount of money is not easy but you could have reduce your level of investments.

onrise

sr. member

Activity: 1512

Merit: 316

Quote from: PeRo on February 24, 2019, 01:26:41 PM

I always tell people they can't win, only temporarily but you always lose in the long run. But people get greedy amd always think how much money they could win and they play more and more until they fall. You can only win if you get a lucky streak and stop when you've made money and don't gamble ever again. That guy could have lived like a king with that money, but we always want more..

Greed takes away everything whatever person may have or how much rich they may be. So this factor one must be away from it because the moment it comes within it will take away lot of things form you just like this OP lost 500k in just 1 minute.

PeRo

hero member

Activity: 1040

Merit: 538

Defend Bitcoin and its PoW: bitcoincleanup.com

I always tell people they can't win, only temporarily but you always lose in the long run. But people get greedy amd always think how much money they could win and they play more and more until they fall. You can only win if you get a lucky streak and stop when you've made money and don't gamble ever again. That guy could have lived like a king with that money, but we always want more..

Get-Paid.com

sr. member

Activity: 1842

Merit: 389

Quote from: Dainye_dyep on February 24, 2019, 12:17:21 PM

That was totally what greediness can bring into any individual who have get attracted that much in earning an easy money just for playing a certain game. Indeed that we must always put ourselves into control...

Why are you calling it greediness and not an addiction?
Call the disease in its right name, this is not greed but an addiction, a vicious cycle, and endless loop - this is what gambling is.

You are blaming the gambler, whilst the gambling industry washes its hands clean off this - completely unfair.

Dainye_dyep

full member

Activity: 238

Merit: 100

Quote from: micher143 on February 23, 2019, 08:53:33 PM

Quote from: Get-Paid.com on November 18, 2018, 10:11:02 AM

The story is from about almost 5 years ago but this is 100% relevant to 2018 or 2019 or many years to come, you can read it here:

https://www.reddit.com/r/IAmA/comments/1ch7wb/starting_with_almost_nothing_i_made_almost_500000/

In short version, he gambled on Bitcoin, made $500,000 - and lost it all later on, he then continued to gamble in Roulette and other games, and ended up with $50,000 in debt.

By the way,
This is not only related to Bitcoin or Casino Games - if you think Sports betting is different think twice after reading this:

https://www.psychforums.com/gambling-addiction/topic182379.html

This person lost over $300,000 within 48 hours, all because of sports betting, he had bets on tennis, basketball, soccer - you name it.

And there are many more stories to read such as this:

https://www.reddit.com/r/problemgambling/comments/4pzgmu/i_just_lost_140000_in_5_minutes/

Moral of the story - you can never be rich with gambling, and even if you end up being "rich" - you would lose the whole lot in no time ... only the house wins because the house has an edge.

That is why self-control is a must have in playing any type of game because too much of anything is not really good at all. If you already know you have such a great amount of money more than what you have put as your bet, better to pause for a while and try your luck once again on the other time. Contentment is the key on playing gambling. Being greedy really drives us into danger and loss. Imagine such a great amount of money have just passed by into your hands, what a great regret that feels like. That is why whenever I am playing into the online casino I am currently into, I ensure that I am having my control and just enjoying the varieties of game they have including the bonus they offer for doing my first deposit.

That was totally what greediness can bring into any individual who have get attracted that much in earning an easy money just for playing a certain game. Indeed that we must always put ourselves into control so that we will not regret the result of the actions we will make and most likey we will not be turned like that gambler has suffered. I do also like and love to enjoy so I guess getting into that online casino you were talking about makes me feel the same way.

cryptovigi

hero member

Activity: 714

Merit: 611

Quote from: micher143 on February 23, 2019, 08:53:33 PM

...
That is why self-control is a must have in playing any type of game because too much of anything is not really good at all. If you already know you have such a great amount of money more than what you have put as your bet, better to pause for a while and try your luck once again on the other time.
...

I think this is the biggest problem - to recognize the moment when you should stop betting further ...
Unfortunately, as it has already been said, when a lot of people come to the fore during adrenaline, they think that they have just defeated the system and now they can do everything ... unfortunately - at this point the system just has defeated you ...

micher143

hero member

Activity: 798

Merit: 500

Quote from: Get-Paid.com on November 18, 2018, 10:11:02 AM

The story is from about almost 5 years ago but this is 100% relevant to 2018 or 2019 or many years to come, you can read it here:

https://www.reddit.com/r/IAmA/comments/1ch7wb/starting_with_almost_nothing_i_made_almost_500000/

In short version, he gambled on Bitcoin, made $500,000 - and lost it all later on, he then continued to gamble in Roulette and other games, and ended up with $50,000 in debt.

By the way,
This is not only related to Bitcoin or Casino Games - if you think Sports betting is different think twice after reading this:

https://www.psychforums.com/gambling-addiction/topic182379.html

This person lost over $300,000 within 48 hours, all because of sports betting, he had bets on tennis, basketball, soccer - you name it.

And there are many more stories to read such as this:

https://www.reddit.com/r/problemgambling/comments/4pzgmu/i_just_lost_140000_in_5_minutes/

Moral of the story - you can never be rich with gambling, and even if you end up being "rich" - you would lose the whole lot in no time ... only the house wins because the house has an edge.

That is why self-control is a must have in playing any type of game because too much of anything is not really good at all. If you already know you have such a great amount of money more than what you have put as your bet, better to pause for a while and try your luck once again on the other time. Contentment is the key on playing gambling. Being greedy really drives us into danger and loss. Imagine such a great amount of money have just passed by into your hands, what a great regret that feels like. That is why whenever I am playing into the online casino I am currently into, I ensure that I am having my control and just enjoying the varieties of game they have including the bonus they offer for doing my first deposit.

rodel caling

full member

Activity: 952

Merit: 104

"Don't be too greedy or you will lose everything".
[/quote]

That's the fact answer mate but if the gamblers start rolling there bets then they got win twice or more than they forget everything and lost their mind control become greedy. And the result is loses everything at the end of the games.

virasog

legendary

Activity: 2954

Merit: 1159

Quote from: Johnzky on February 13, 2019, 04:24:02 AM

NO doubt that this is true since gambling can be found anywhere now specially online betting and since this can offer huge amount in return(if you are lucky enough to win)more and more people are falling from this bait.and these stories came from the people whos from regular gambler to addicted one so even if he already made a great amount in which $500,000 he feels wasnt enough to stop and besides he chased for more than what he can get,and in the end lose all with a debt

Well think of it in a different way. He had invested $500,000 and in case he had won, how much money he would have Won ?
He would be more than a millionaire by now but sadly it did not happen and he lost it all. This is why many people say that high money in gambling can give you high rewards and at the same time can give you high losses.

Luck did not favor the OP this time.

Get-Paid.com

sr. member

Activity: 1842

Merit: 389

Quote from: Vaculin on February 13, 2019, 01:46:54 AM

You can be rich, I'm sure with that as there are people who won in lottery that has already change their lives now.
It's just stopping at the right time and enjoy your winnings, the appropriate worlds to call it is we loss in the long run, or there are only few
winners in the gambling because although hard to win, but it's not impossible to win.

We can still stay positive, sports gambling can give us a long term profit, your story is only focus on losers, and I think you will have a hard time
a story from winners because they'll not share, they want keep their success on their own.

There are many lottery winners who were sorry for winning the jackpots. History has proven it.
What goes around - comes around.
If it comes in an "easy" fashion then it has a huge risk of going away the same way.

You say "sports gambling can give a long term profit" - reality has proven it has been giving a long term profit to the house but not to the gambler himself. This is a fact, not an assumption.

Dreamchaser21

full member

Activity: 686

Merit: 108

Quote from: Johnzky on February 13, 2019, 04:24:02 AM

NO doubt that this is true since gambling can be found anywhere now specially online betting and since this can offer huge amount in return(if you are lucky enough to win)more and more people are falling from this bait.and these stories came from the people whos from regular gambler to addicted one so even if he already made a great amount in which $500,000 he feels wasnt enough to stop and besides he chased for more than what he can get,and in the end lose all with a debt

This is what going to happen if we don’t have self control in gambling and if we continue to gamble even if we already won big money. Addiction can be the reason why he still push through, well its normal for some gamblers and i hope they learn a lot from this mistake.

Topic: This person made $500,000 with gambling and lost it all within 60 seconds! (Read 14117 times)