Lost $350k / 54 BTC gambling, need help :(

[Panchum]

Yes, I am Mannton456, I’m going to post it on the crypto-Games chat to prove it’s me. This is my story of loss.

I’ve always had a inclination for making reckless decisions. While I don’t gamble on a regular basis and prided myself on making sensible decisions, like investing in the bankroll of a bitcoin casino (to benefit from +EV), one day I decided to gamble with 3 BTC.

I won some bitcoins, and called it a day. The next day, I was bored and decided to give it another go. Lost everything. Now I don’t like losing, so my only strategy was to deposit almost 10x the amount - 20 BTC, and try to win it back again. I did and managed to turn it to 30 BTC. My heart was shaking and the adrenaline I had was incredible. I reinvested it in the site, and went to bed happy.

Unfortunately, the next day I decided to just do one bet of the entire balance, at 97% odds. I lost. Shit. I was operating in automatic mode and deposited a further 50 BTC, and tried to bet again. Lost again. I felt like ending my life.

I did something even more stupid and deposited another 70 BTC, almost the last remaining bitcoins I’ve had. Thankfully I was able to win back 30 BTC before I stopped and withdrew; putting my net loss at -54 bitcoins.

This is worth $350k USD. I am at a loss. I don’t think I will ever gamble again, but this is such an expensive lesson for me. I could’ve bought a house or apartment for that money. I could’ve bought 7 Tesla’s!

It’s also the first time I’ve lost anything more than $20 gambling. I don’t gamble a lot, and when I do it’s always with small amounts. But it was easy to see bitcoins as “not money” and that you’re just playing a game... with real money, and real life consequences.

I am someone in my 20s who got into cryptocurrency early. Thankfully, I do still have about $1.5 million in crypto and other investments, but losing 350k and 20% of your net wealth in the span of an hour is just... devastating to me. How did I end up risking $350k for a $18k loss?!

I’m having thoughts of going “all in” and trying to win it back. I know it’s a bad idea, a real bad one, but I’m someone who likes going big or going home.

I don’t know what to do at this point. I know I will survive, at least I’m not in debt, but fuck, I’m upset. I’m really depressed, and thoughts of killing myself have floated my mind.

My daughter lost $18000 and that's the only thing have expecting to become a millionaire because of expectations that bitcoin will go back to$20000.But now its a  very low value..Any way gambling is to bet if you gonna win or lose.

[Indamuck]

This might make you feel better. The professional golfer, John Daly, has lost over $50 million gambling throughout his career.  Doesn't this amount make your loss look very small.

No matter how bad our losses are we can always find ways to make more money.  Our situations are never permanent so that is something to be optimistic about.

[darkangel11]

The most important part for an addict is to realize you're addicted and ask for help. You did that OP, that's why I can assure you that you're on the right path. If I were you and read all the positive comments in this thread I'd be relieved. People are really compassionate here and giving a lot of good advice.
I want to add that although your loss was significant you still have some money left (a lot of money for my standards) and you have many years ahead of you to make more. Don't waste time being sad and dwelling on the loss, move on!

[setupbounds]

Don't ever try to go all in. There's a big chance that you're going to make things even worst and that's a total upset that could lead you to depression if you can't handle your emotion well. Enough with that lost man, that's too big. You should know when to accept defeat.

The easiest way to get screwed in gambling is to get greedy and such situations like this is when I consider people to really be getting greedy and for those reasons they always get burned eventually.

Losing 54btc in gambling is huge and I wonder why people tend to go through that length in the name of wanting to increase their funds, when they could just learn how to trade, and even with just 2btc of trading fund, that can be multiplied in the long run, but the thing here is that people's greed and not being smart are always the cause of their own downfall.

[Supercrypt]

Of course you would get upset in that amount of loss. It's not that you have a lot of money at your disposal but the value of saving it all is what's painful. You gamble for leisure but keep it in mind that lossing is inevitable. You still got a lot left so do not get upset too much and just relax and give it break.

I guess for someone in his shoes, he should have realized already that gambling is not something you should be paying much attention to and it is never too late at all to making amends rather than trying to recover losses. The mistakes a lot of people make is to be placing some wish on themselves on the aspect of trying to chase what they have lost and possibly gain it back, but in reality, this is something that have always ended up making people get burned in the long run.

This is a clear example of that, and my best advice would be for the OP to just accept the fact that he has lost, he has screwed up and he should look for better productive things to do to get better and discard gambling in the long run. It will take some determination though.

[dead_m92]

Are there still people believing on this kind of shitty threads that are not giving out real information to the entire forum in here? I still don't understand it.

Even if it is true, how could you be so dumb to risk it all? There is no point in being gambling for almost a 1/2 of a MILLION dollars...

Too funny to be true

[game-protect]

Did they check your identity prior to accepting your huge amounts of Bitcoins?

[shursight]

This is terrible, but in the end, this is only your fault, no one forced you to gamble almost a million dollars

You are crazy man, and you really need to recover from this, do not ever try to gamble again, because it is just pure adiction in where you can not leave easily.

[gentlemand]

But it was easy to see bitcoins as “not money” and that you’re just playing a game... with real money, and real life consequences.

This stands out to me. It's the same as using credit or debit cards on gambling sites to an extent. If gambling sites insisted on you posting cash to them I wonder how many more people would think twice before depositing anything.

At least it was only a proportion of your net worth, albeit a fairly large one. Life will go on and hopefully something will be learnt from it.

[Get-Paid.com]

Did they check your identity prior to accepting your huge amounts of Bitcoins?

OP, please answer that question, it is vital.

[bitcoinisbest]

This is terrible, but in the end, this is only your fault, no one forced you to gamble almost a million dollars

You are crazy man, and you really need to recover from this, do not ever try to gamble again, because it is just pure adiction in where you can not leave easily.

Gambling is such a thing that even a rationale person become crazy about money and the result is before us. That is the reason people recommend that do not go behind money while gambling just play for fun and to entertain yourself had this being case with OP, surely would not have lost such amount.
 

[swogerino]

Nothing that can I say to you can make you feel less sad but there are people who have lost more than that, they have lost everything including their house , job , family and unfortunately they ended up in suicide.

You should look the brighter side of things, you only lose bitcoins , virtual money and you still have a life and a house to live. Life goes on and please seek professional help. Lastly stop gambling.

[mOgliE]

It's really easy to answer you: you need help.

Don't try to manage that yourself, don't try anything. Take another 500$, go see someone and register to supporting group.

When you lose 350k$ gambling, you're either a billionnaire, or you need help.

That's all, period. Don't think too much just go look for help.

[Yatsan]

I would suggest you not to think of earning that money back from gambling because there would be a bigger chance for your loss to double. The best thing to do is to let go although it would hurt you so much. Move on and do not make this scenario influence your next actions because what's more likely to happen is that you will be frustrated to have the win. But since gambling is the game of luck, no one can manipulate the winning percentage. Just use this as a lesson not to gamble that much. Believe it or not, I too have lost huge amount of money before.I do still gamble at this moment, but somehow, I manage to not lose that much again. How did I recover? I just avoid thinking of what happened. I am now just gambling for fun , without the assumption of winning. That is what gambling really is, an activity to kill time and for entertainment. People should stop having a mentality of being rich through gambling because such thing is really impossible.

[eaLiTy]

I am someone in my 20s who got into cryptocurrency early. Thankfully, I do still have about $1.5 million in crypto and other investments, but losing 350k and 20% of your net wealth in the span of an hour is just... devastating to me. How did I end up risking $350k for a $18k loss?!

That is the magical world of gambling, if you feel the taste of winning in the beginning you will feel like recovering any losses and you end losing more, you made a big mistake and glad to hear that you never gambled with your entire savings and still you went for more to cover your losses, but luck was on your side and you exited without much damage further and hopefully you wont experiment further and since you are not online here for some time, hope everything is fine.