This person made $500,000 with gambling and lost it all within 60 seconds! - page 3.

UmerIdrees

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Quote from: playboy654 on February 09, 2019, 08:46:12 PM

Quote from: Get-Paid.com on November 18, 2018, 09:11:02 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.

the problem is a person could not control his emotion and happiness while getting the profit or loss being calm and composed will very important to be a profitable Gambler and if you got a huge profit take the winning amount quickly and invest from the new little amount this will be the right way to reduce the loss happening.

Its not at all easy to control your emotions. In case you are winning, you are more tempted to spent more money in gambling and this could result in loss, as it did in OP case.

Quote from: mersal on February 10, 2019, 08:12:51 AM

It can be a huge loss for him if he to the correct more then he will be getting the all profit from his home but the limitations of the most important thing for a gambler to get the profit to his hand while it was unlimited then nothing will be returned to our hand in the gambling.

Well, if he does not know to take the profit out of gambling, then such winnings is of no use as it will all lost in other gambling activities.

mersal

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It can be a huge loss for him if he to the correct more then he will be getting the all profit from his home but the limitations of the most important thing for a gambler to get the profit to his hand while it was unlimited then nothing will be returned to our hand in the gambling.

maydna

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Quote from: FIFA worldcup on February 09, 2019, 10:45:31 AM

Quote from: Oceat on February 09, 2019, 10:39:43 AM

Quote from: Ucy on February 09, 2019, 04:45:14 AM

Story doesn't add up. What was the gambler thinking? What he trying to achieve after winning such an amount of money($500,000)?
It's either he was wealthy already and could afford it or he had serious gambling addiction problem.

My thought would be that he must have thought that he could push a little bit longer because he thought he's lucky on that day, but it turns out that his luck was running out already. Lesson to learn on his action is that do not be greedy because it will eventually turn your easy money into thin air and disappear if you push too much.

If any person lose $500,000 in gambling in 60 seconds only, then we cannot blame gambling for this loss. The responsibility of this loss completely relies of the gambler himself who have no idea on what he is doing and his greediness and emotions are in full control over him.

Yes, that is only if the gambler realizes about the consequences to continue the games. And if somehow, in the next round he loses everything, then it is his fault, and he cannot blame anyone. He is too greedy to get more money while he wins $500,000 and if I were him, I would leave the gambling places as soon as possible because I don't want to lose that money. I agree that we need to take responsibility for everything that might happen, so we do not regret later.

Caladonian

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Quote from: playboy654 on February 09, 2019, 08:46:12 PM

Quote from: Get-Paid.com on November 18, 2018, 09:11:02 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.

the problem is a person could not control his emotion and happiness while getting the profit or loss being calm and composed will very important to be a profitable Gambler and if you got a huge profit take the winning amount quickly and invest from the new little amount this will be the right way to reduce the loss happening.

Very well said, if you still have control while you are feeling lucky like this, but most of the time it's greediness who keeps you coming back and
let you to feel that you are undefeatable, aiming to keep more and more winnings, control and misuse of his lucky day for sure many of us will
say if only he be able to save even little winnings or just stay away when he already loses everything and not to push and be back losing another
bankroll of his own.

Kinda unusual but its really happened inside the gambling casinos.

playboy654

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Activity: 546

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Quote from: Get-Paid.com on November 18, 2018, 09:11:02 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.

the problem is a person could not control his emotion and happiness while getting the profit or loss being calm and composed will very important to be a profitable Gambler and if you got a huge profit take the winning amount quickly and invest from the new little amount this will be the right way to reduce the loss happening.

FIFA worldcup

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Quote from: Oceat on February 09, 2019, 10:39:43 AM

Quote from: Ucy on February 09, 2019, 04:45:14 AM

Story doesn't add up. What was the gambler thinking? What he trying to achieve after winning such an amount of money($500,000)?
It's either he was wealthy already and could afford it or he had serious gambling addiction problem.

My thought would be that he must have thought that he could push a little bit longer because he thought he's lucky on that day, but it turns out that his luck was running out already. Lesson to learn on his action is that do not be greedy because it will eventually turn your easy money into thin air and disappear if you push too much.

If any person lose $500,000 in gambling in 60 seconds only, then we cannot blame gambling for this loss. The responsibility of this loss completely relies of the gambler himself who have no idea on what he is doing and his greediness and emotions are in full control over him.

Oceat

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Activity: 2506

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Quote from: Ucy on February 09, 2019, 04:45:14 AM

Story doesn't add up. What was the gambler thinking? What he trying to achieve after winning such an amount of money($500,000)?
It's either he was wealthy already and could afford it or he had serious gambling addiction problem.

My thought would be that he must have thought that he could push a little bit longer because he thought he's lucky on that day, but it turns out that his luck was running out already. Lesson to learn on his action is that do not be greedy because it will eventually turn your easy money into thin air and disappear if you push too much.

JohnBitCo

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Activity: 2030

Merit: 356

Quote from: dead_m92 on November 25, 2018, 04:44:46 PM

Yes of course, and probably when he saw that he made almost a million dollars, he wanted to double up that and make an entire million.

That is what always happen, you always want more, ,and that is when you can not stop anymore.

This is serious, i dont know why so many people are laughing at this

Quote from: izanagi narukami on November 18, 2018, 10:15:50 AM

I think greed already take over the gambler because I know that feeling when the gambler think that they can win because the adrenaline become so rush on that time.
So that's why gambling will make you loss eventually mostly because of long term and cryptocurrency is riskier than ordinary gambling so they need think twice before decide to gamble here !

This is why many people say that money management is the most important thing and going all in the game without any planning is just like doing a suicide.

Quote from: jrrsparkles on November 26, 2018, 12:44:21 PM

We can't say anything for these kind of happenings,if that is what menat to happen then it will happen since its all fate.But I never go for gambling again until I spend those rewards in more useful way than in gambling if I win those bets.The luck knocked the wrong person. Sad

I do not think luck knocked the wrong person, its just that the lucky person got greedy and blind and lost it all in the end. Sad

St4yInTh3D4rk

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"STAY IN THE DARK"

Quote from: onrise on February 09, 2019, 05:59:43 AM

Quote from: Ucy on February 09, 2019, 04:45:14 AM

Story doesn't add up. What was the gambler thinking? What he trying to achieve after winning such an amount of money($500,000)?
It's either he was wealthy already and could afford it or he had serious gambling addiction problem.

This is the clear case of what greediness can lead at the end of the event. A normal rational person would quit and take away the 500k$ and enjoy for the leisure life rather than playing all in again and end up losing and taking nothing finally at the end of the day.

Even normal people can't get out of that situation but maybe he won't bet all the money again so the player mush have decent savings level to bet that all money to test it again.But this is gambling we don't have anything in our hands its all written when we were born itself,that's fate. Cheesy

lienfaye

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Quote from: Get-Paid.com on November 18, 2018, 09:11:02 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.

Well just like what the saying says easy money is easy to spend unlike if you earned it through hard work.

Those gamblers who are not fully aware of the consequences of their actions are likely the ones to end up in debt.

Gambling is really addicting but we have to be wise and take advantage the moment we are lucky, stop and go home to enjoy the earnings but unfortunately we can only think about this if we lose everything.

onrise

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Quote from: Ucy on February 09, 2019, 04:45:14 AM

Story doesn't add up. What was the gambler thinking? What he trying to achieve after winning such an amount of money($500,000)?
It's either he was wealthy already and could afford it or he had serious gambling addiction problem.

This is the clear case of what greediness can lead at the end of the event. A normal rational person would quit and take away the 500k$ and enjoy for the leisure life rather than playing all in again and end up losing and taking nothing finally at the end of the day.

Ucy

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Compare rates on different exchanges & swap.

Story doesn't add up. What was the gambler thinking? What he trying to achieve after winning such an amount of money($500,000)?
It's either he was wealthy already and could afford it or he had serious gambling addiction problem.

STT

legendary

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Quote from: mallorcagold on November 18, 2018, 09:37:25 AM

True but its also a matter of not becoming greedy.

If you make $500,000 profits on sport betting you must collect your winnings and start with a 25k balance again or something like that. Im betting on sports as well.

Totally agree with that, very similar words pop when talking about trading and market speculation in either commodities or shares and similar. There is no profit until the proceeds are taken off the table.
I would even go further then that, the money isnt good till you repaid the debt on a house or something you wont be liquidating any time soon. If you make a 'profit' or take a risk and get lucky, however its worked out then make it good and get the benefit locked in every day for the next ten years ideally. Free rent because you own the house outright is an ideal example, I think this also is a skill that many dont even know about. How to spend smart without just burning the cash on stuff that wont give back, so not just champagne and silly stuff though thats fun too

Its so easy to get carried away and obviously everyone wants you to because its fun on the night.

bitcoinisbest

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Quote from: Get-Paid.com on November 29, 2018, 11:58:57 AM

Quote from: supermine on November 29, 2018, 11:17:40 AM

Quote from: emberbekas on November 29, 2018, 07:53:13 AM

Quote from: Get-Paid.com on November 29, 2018, 03:11:57 AM

Quote from: sweetbet on November 28, 2018, 04:04:25 PM

He thought he was on a winning streak and couldn't possibly lose. He got greedy and careless, and lost it all and some more. He should've at least put some of the money aside so he wouldn't risk losing it all.

Why do you call him greedy? It should be called a turmoil, that's a more accurate description of what the gambler is going trough when something like this happens.

It doesn't matter how we have to call him, but a question arises in my mind. What did he think about when he got the chance to go with $ 500,000? Is that not enough for him so he continues to play or are there other things that continue to persuade him to keep gambling? Tbh, people can win sometimes, but if they keep such behaviour, then there's no way to get good result from gambling.

That is literally means that we can't make successful results in long run so people need to keep asking themselves if they are playing or gambling for too long without much rewards that is it actually worth to spend money here to make money then they can get themselves away from gambling.

Correct.
Gambling is a vicious cycle and that's the key in stopping it, when you realize you're in a vicious cycle, it's not you being greedy or making wrong choices (when it comes to some randomness) - it's this vicious cycle.

I do agree some sports can be fixed and some people might benefit from it but 99% of the population who gambles doesn't gamble like this, people bet based on their research/guts/instincts/etc.

Those who are smart and have control on themselves will take the money if they had won and move away. But rest majority of them will get trapped int eh vicious cycle of greed and to become quick rich and will continue playing and the end result we all know it.

Get-Paid.com

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Quote from: supermine on November 29, 2018, 11:17:40 AM

Quote from: emberbekas on November 29, 2018, 07:53:13 AM

Quote from: Get-Paid.com on November 29, 2018, 03:11:57 AM

Quote from: sweetbet on November 28, 2018, 04:04:25 PM

He thought he was on a winning streak and couldn't possibly lose. He got greedy and careless, and lost it all and some more. He should've at least put some of the money aside so he wouldn't risk losing it all.

Why do you call him greedy? It should be called a turmoil, that's a more accurate description of what the gambler is going trough when something like this happens.

It doesn't matter how we have to call him, but a question arises in my mind. What did he think about when he got the chance to go with $ 500,000? Is that not enough for him so he continues to play or are there other things that continue to persuade him to keep gambling? Tbh, people can win sometimes, but if they keep such behaviour, then there's no way to get good result from gambling.

That is literally means that we can't make successful results in long run so people need to keep asking themselves if they are playing or gambling for too long without much rewards that is it actually worth to spend money here to make money then they can get themselves away from gambling.

Correct.
Gambling is a vicious cycle and that's the key in stopping it, when you realize you're in a vicious cycle, it's not you being greedy or making wrong choices (when it comes to some randomness) - it's this vicious cycle.

I do agree some sports can be fixed and some people might benefit from it but 99% of the population who gambles doesn't gamble like this, people bet based on their research/guts/instincts/etc.

supermine

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Quote from: emberbekas on November 29, 2018, 07:53:13 AM

Quote from: Get-Paid.com on November 29, 2018, 03:11:57 AM

Quote from: sweetbet on November 28, 2018, 04:04:25 PM

He thought he was on a winning streak and couldn't possibly lose. He got greedy and careless, and lost it all and some more. He should've at least put some of the money aside so he wouldn't risk losing it all.

Why do you call him greedy? It should be called a turmoil, that's a more accurate description of what the gambler is going trough when something like this happens.

It doesn't matter how we have to call him, but a question arises in my mind. What did he think about when he got the chance to go with $ 500,000? Is that not enough for him so he continues to play or are there other things that continue to persuade him to keep gambling? Tbh, people can win sometimes, but if they keep such behaviour, then there's no way to get good result from gambling.

That is literally means that we can't make successful results in long run so people need to keep asking themselves if they are playing or gambling for too long without much rewards that is it actually worth to spend money here to make money then they can get themselves away from gambling.

eternalgloom

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Quote from: stomachgrowls on November 23, 2018, 06:11:23 PM

Quote from: serjent05 on November 23, 2018, 05:22:12 PM

I agree much with you. I never heard of anyone that is rich from gambling. I’ve heard of a lotto millionaire but that one, his money didnt stay long with him also. I believe in the saying, “easily got is easily lost”. Why? Because you didnt work hard for it so you will not care if you lost it too. So it is true, you will never really be rich in gambling.

I do see one of my co-workers did able to hit the jackpot on lottery.Lifestyle did upgrade and spent all the money on gambling again and
after a year he came back on his original status ( a normal 8 hours worker) and starts to regret on what he have done but its already too late since he cant
take it back on those money that shouldnt be spend unwisely.

That's one single case, I'm absolutely sure that there are stories of people winning it big and never gambling again.
Of course you don't hear from these people, since it doesn't contain any drama.

I absolutely believe that people can gamble responsibly, you just tend to hear more about the problematic gamblers.

emberbekas

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Quote from: Get-Paid.com on November 29, 2018, 03:11:57 AM

Quote from: sweetbet on November 28, 2018, 04:04:25 PM

He thought he was on a winning streak and couldn't possibly lose. He got greedy and careless, and lost it all and some more. He should've at least put some of the money aside so he wouldn't risk losing it all.

Why do you call him greedy? It should be called a turmoil, that's a more accurate description of what the gambler is going trough when something like this happens.

It doesn't matter how we have to call him, but a question arises in my mind. What did he think about when he got the chance to go with $ 500,000? Is that not enough for him so he continues to play or are there other things that continue to persuade him to keep gambling? Tbh, people can win sometimes, but if they keep such behaviour, then there's no way to get good result from gambling.

Get-Paid.com

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Quote from: sweetbet on November 28, 2018, 04:04:25 PM

He thought he was on a winning streak and couldn't possibly lose. He got greedy and careless, and lost it all and some more. He should've at least put some of the money aside so he wouldn't risk losing it all.

Why do you call him greedy? It should be called a turmoil, that's a more accurate description of what the gambler is going trough when something like this happens.

maydna

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Quote from: sweetbet on November 28, 2018, 04:04:25 PM

He thought he was on a winning streak and couldn't possibly lose. He got greedy and careless, and lost it all and some more. He should've at least put some of the money aside so he wouldn't risk losing it all.

His chances to get lost will be wide open in the gambling game because he doesn't know when he will have the luck to win that money. It is better to quit from the game and leave the place and enjoy the winning money than continue to play and expecting more winning. We cannot always win in the gambling game because we need the luck inside us and we don't know when we can have big luck. And if we continue to play, then we need to prepare ourselves for another loss that might take all of the winning money that we had.

Topic: This person made $500,000 with gambling and lost it all within 60 seconds! - page 3. (Read 14126 times)