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

[avikz]

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.

It's a classic case of a human emotion called GREED. The moral of the story is incomplete as you've only talked about the casinos. Gambling and casino is a form of a business similar to other businesses of the world. So they will have to make profit to keep themselves sustainable. And the profits they make, comes from their players pocket. Look at the below points,

1. Gambling is not a method of making money
2. Gambling is a way of entertainment
3. Gambling is a business for its owner so they have to be profitable

Now if a person keeps playing even after winning such a huge sum, it's his bad decision. It's his greed which made him liable for his greed. Blatantly blaming gambling for every bad thing, is not correct!

[Get-Paid.com]

Blatantly blaming gambling for every bad thing, is not correct!

If gambling wasn't exist it wouldn't happen, right?

People who are addicted to smoking - are they the ones to blame for being in that state, or is it the tobacco companies that suffer all the criticism?

Gambling is no different.

If these things wouldn't be on the table then no one would have been affected.

[Finestream]

That's a sad story of people didn't know how to control greedy
And that's is true playing gambling is very risky to lose all they have
Adicted in Gamlbling is quick of losing all they have in life will gone without selfcontrol
But if people have an selfcontrol while playing in gambling because he/ she play for fun not to got profits they huge of loses

Yes.Too much greedines will only ruin our lives in the end.So if you gamble,learn how to control yourself especially your emotions.Because if you have always win in the start,it does not guarantee that you will make profits all the time with gambling.Better to go home already after having a huge gain,than still playing the game and may end up losing again all what you have gained.

[creeps]

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 agree on this one, gamblers will always a gamblers and if your money is come from gambling, you will still give that money back to the casinos or in any form of gambling because that money is not from a hard work, its from luck and greed.

Gambling teaches us a great lesson, that those who depend on this will always be a loser. The purpose of gambling is not to make you rich, but to put you in a huge debt that you will never expect. Make this one as your stress reliever, have fun with it, and don't take gambling seriously if you don't want to become addict in gambling better to limit yourself from playing it.

[maydna]

I agree with the OP said, we never get rich from gambling, and this is for the most people in out there because we never have a big chance to make winning money from gambling. Perhaps, we can win big money and we are tempted to continue playing gambling because we want to win more money and this is greediness that will ruin our lives in the next second. We need to remember that we cannot win in every round but we can win small money, and if somehow, we can win big money then we need to leave the gambling places as soon as possible and don't even think about the win in the next round.

The funny part to all this is that people like that always end up addicted in the end. It is one thing to have tasted a huge win and lose it and it is another thing not to have tasted it at all. With the former, the chances of being affect psychologically is there. Simply put, you win $500k, you lose it all back in a minute out of greed, and then you keep pushing yourself to see if you could win it all back and at the end, what that always result to is an addiction. Limit and contentment! Those are two thing a lot of gamblers do not understand they should imbibe as a culture.

Yes, being addicted is the biggest thing that we can get from the gambling, and I don't think that we want to become addicting in gambling, right? There is no chance for us to get big money from gambling and we need to learn from other people experience. They are lost their money more and more with or without they realize, and in the end, gambling is just ruining their life and their family too. I agreed with the limit and satisfied with what we got from gambling, no matter we lose or win, we need to accept and leave the place before it's too late.

[Get-Paid.com]

But if people have an selfcontrol while playing in gambling because he/ she play for fun not to got profits they huge of loses

Okay, I feel like a ghost in this thread or either people are naive and stupid.

Let me ITERATE once again - WHEN IT COMES TO GAMBLING - PEOPLE HAVE NO SELFCONTROL.

You are talking about SELFCONTROL which doesn't coincide with the term GAMBLING!

Can you please stop blaming the gambler and realize it's the system that it's built like that?

Do you have any idea how many millions casino owners and sportsbook owners take from gambling?

This is how the system is built! It's designed for you to lose your SELFCONTROL!

Please stop, just stop blaming the gambler for not having SELFCONTROL, it doesn't matter when it comes to gambling, because any gambler would lose his SELFCONTROL one way or another.

Okay?!

Now can you please stop, just stop mentioning that SELFCONTROL was the problem here?!?!

[shield132]

Btw can you tell me which casino promise you that you'll become rich if you gamble? None of them, they clearly say: Gamble for fun. If you can't have fun from it, then go away. You may ask they write something and do another thing (write not to gamble for profit but offer amazing promotions). There are rich people too, for those 1000$ is nothing to lose, they may try their luck in such promotions, just to prove that they are best or any other reasons. Gambling is optional, so these dramatic stories doesn't change anything. But yeah, it's very sad that man lost so much, at leasy he learnt from this lesson.

The casinos say what they have to say because of regulation and not because they want to say it.
And it still doesn't change the fact their games are designed to make you addicted.

Yeah, agree, they have to say this because of regulations but on another hand I personally blame myself rather than casino if I got addicted and yeah, for one year I was betting on sportsbook everyday but could control myself and never bet much because I could see that I may would lose which would affect me in a lot of way. So one day I hang on it and continue life like there was no sportsbook. User above me posts that we don't have to blame peoplr for low selfcontrol. at some point I agree and everyone knows casino tries to attract you but also everyone has to understand that you can't profit from gambling.

[Get-Paid.com]

Btw can you tell me which casino promise you that you'll become rich if you gamble? None of them, they clearly say: Gamble for fun. If you can't have fun from it, then go away. You may ask they write something and do another thing (write not to gamble for profit but offer amazing promotions). There are rich people too, for those 1000$ is nothing to lose, they may try their luck in such promotions, just to prove that they are best or any other reasons. Gambling is optional, so these dramatic stories doesn't change anything. But yeah, it's very sad that man lost so much, at leasy he learnt from this lesson.

The casinos say what they have to say because of regulation and not because they want to say it.
And it still doesn't change the fact their games are designed to make you addicted.

Yeah, agree, they have to say this because of regulations but on another hand I personally blame myself rather than casino if I got addicted and yeah, for one year I was betting on sportsbook everyday but could control myself and never bet much because I could see that I may would lose which would affect me in a lot of way. So one day I hang on it and continue life like there was no sportsbook. User above me posts that we don't have to blame peoplr for low selfcontrol. at some point I agree and everyone knows casino tries to attract you but also everyone has to understand that you can't profit from gambling.

Not hitting rock bottom is normal, it doesn't mean there is no risk of it happening to anyone - it's risky and it's extremely dangerous.

[mrcash02]

But if people have an selfcontrol while playing in gambling because he/ she play for fun not to got profits they huge of loses

Okay, I feel like a ghost in this thread or either people are naive and stupid.

Let me ITERATE once again - WHEN IT COMES TO GAMBLING - PEOPLE HAVE NO SELFCONTROL.

You are talking about SELFCONTROL which doesn't coincide with the term GAMBLING!

Can you please stop blaming the gambler and realize it's the system that it's built like that?

Do you have any idea how many millions casino owners and sportsbook owners take from gambling?

This is how the system is built! It's designed for you to lose your SELFCONTROL!

Please stop, just stop blaming the gambler for not having SELFCONTROL, it doesn't matter when it comes to gambling, because any gambler would lose his SELFCONTROL one way or another.

Okay?!

Now can you please stop, just stop mentioning that SELFCONTROL was the problem here?!?!

Lol, the gambler made $500.000,00 with gambling. This story could had a happy end if he had just stopped right there! It's all about self control. If the casino was the villain, gamblers would never make such profit.

And I'm sure there are some successful stories too about gamblers who had success on their life, because they had self control, they knew when to stop and when to diversify their money!

[eternalgloom]

Blatantly blaming gambling for every bad thing, is not correct!

If gambling wasn't exist it wouldn't happen, right?

People who are addicted to smoking - are they the ones to blame for being in that state, or is it the tobacco companies that suffer all the criticism?

Gambling is no different.

If these things wouldn't be on the table then no one would have been affected.

And what would you propose then? Outlaw gambling?
Do you think that there won't be any gambling addicts any more if gambling suddenly became illegal?

I'm sorry, but I want the freedom to do with my money what I want. Same with my body, if I choose to smoke or drink, that's my choice and the government does not have any say in that.

[SultanOfPara]

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

Say what you want, but sports betting is different. It isn't mainly luck based like casino games, but requires skill. It's impossible to lose 500.000$ in sports betting, when you have A) a clue of the sports you're betting on and B) know the fucking basics of bankroll management.

Bookies make money due the greed and stupidity of their costumers and not because they are mispricing odds and gain an edge. I know a lot of people making money by betting on sports and their ROI ranges from 5% to 15%.

[supermine]

No one can be winner in the bets for long streaks because as you said house has better edge of winning so if someone won in gambling then they need to get away with that rewards and spend it in the way he want of he looking for more money then he will learn the lessons just on the articles you mentioned.So the real moral of the story is "Don't be too greedy or you will lose everything".

If you properly read the story of the person who lost over $300,000 - you would see he did take his winnings away, and he did save them asides, and he did watch them closely and told himself that he would never bet again with this money.

But .... life has proven otherwise ... he lost it all.

Yes, go away if you win ... but for how long? Your mind will force you to go back.

People need to understand this is like drugs, very addictive drugs - the best way to win is by simply betting on yourself i.e. don't gamble in the first place ... and if you did - put as many barriers as possible so you won't be able to go back to it.

Or you can try to live with that, but that's a very costly habit, financially, emotionally and personally.

If you go back even after you won lot from gambling means you are very greedy so it is not a wonders that you will be get defeated by that greed.It is addictive but you knows that you have a lot of money to spend it more enjoyable way so we should be aware of that and take the money what we got it from bets.

[Oilacris]

No one can be winner in the bets for long streaks because as you said house has better edge of winning so if someone won in gambling then they need to get away with that rewards and spend it in the way he want of he looking for more money then he will learn the lessons just on the articles you mentioned.So the real moral of the story is "Don't be too greedy or you will lose everything".

If you properly read the story of the person who lost over $300,000 - you would see he did take his winnings away, and he did save them asides, and he did watch them closely and told himself that he would never bet again with this money.

But .... life has proven otherwise ... he lost it all.

Yes, go away if you win ... but for how long? Your mind will force you to go back.

People need to understand this is like drugs, very addictive drugs - the best way to win is by simply betting on yourself i.e. don't gamble in the first place ... and if you did - put as many barriers as possible so you won't be able to go back to it.

Or you can try to live with that, but that's a very costly habit, financially, emotionally and personally.

If you go back even after you won lot from gambling means you are very greedy so it is not a wonders that you will be get defeated by that greed.It is addictive but you knows that you have a lot of money to spend it more enjoyable way so we should be aware of that and take the money what we got it from bets.

Greed is never been good or doesn't really give positive outcome into a gamblers life even on typical daily life scenarios which if you do make yourself greedy in all sorts of things then
you should already be aware on the possible consequences ahead.
We should know how to be contended yet those money been won just came in from thin air so if you do let yourself too greedy then expect it would happen the same thing when it lost.

[serjent05]

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.

[stomachgrowls]

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.

[cruso]

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.

You have never heard, but there are more than a few people that make massive income from gambling. Here is an example:
http://uk.businessinsider.com/tony-bloom-biography-2017-4?IR=T

I am not advocating gambling. The truth is that most punters are losing money. But there are people out here that know what they are doing and are profiting from it. Admittedly less than 5%. Gambling is hard work and to think otherwise is false.

[Betwrong]

~
Can you please stop blaming the gambler and realize it's the system that it's built like that?

Do you have any idea how many millions casino owners and sportsbook owners take from gambling?
~

The system is not built to make players lose their money. If it was the case no one would gamble at all. Some people win while others lose, and on a provably fair gambling site those amounts compensate each other more or less. For a gambling site it's irrelevant whether a particular player is winning or losing, because the site is profiting from the house edge, not from those who are losing. The more is wagered on a site the higher the profits from the house edge, and that's why they try to make games as attractive as possible, to draw more players. When the amount of players is small then indeed it's good for a site when someone is loosing and it's bad when someone is winning, and it's a risky situation because a site can go bankrupt in case of a big win by someone. But with thousands of players it's almost guaranteed that any win will be compensated by the equivalent loss, and vice versa. And that's what any gambling site wants, a stable income due to its house edge. I agree that what you said can be true regarding some land based crooked casinos, but this is not the case with provably fair online gambling.

[game-protect]

That just shows how getting too carried away can mess up your logic.

The system is built and designed for this to happen.
The system is not built for people to spend $10 and leave, if it was like that then the entire business wouldn't exist.

It feels like you guys are trying to justify the need to place bets - you don't need to apologize for it.

If you wish - follow Daily25.com - this is an Aussie guy who places tons of bets on a day to day basis, and writes a blog about his "investment" .... after 7.5 years of placing bets, and he used tipsters, many types of software, other websites etc. -

He is barely on 1% ROI .... and that's someone who took this extremely seriously .... he probably made more from selling packages and such from his site, or from ads ... but the Alexa ranking .... 3.5m - not that great.

Just shows you that someone tried to really turn this into a full time job and ended up making peanuts money out of it....

Say what you want to say, the house always wins, that's a fact, including sports betting.

You would have a very hard time trying to convince me otherwise.

Is this person lying?

I'm using Onehash since 2017 and dont have any problems with deposits or withdrawls. So for clients, that have real profit from successful bets and when withdrawls works without problems -it is not so interesting to know about Onehash license.

I can tell my story - i'm using Onehash for more than a year and i have a stable profit and stable withdrawls.

So what is your target - to proof that Onehash cheating their clients? I can say thet on dice/slots there is a cheats, but its a problems of individual clients, who wants to play in random luck unpredictable games.

All your complaints about licenses and laws is a real mentally ill nonsense, and in your posts i didnt read about any real problems of Onehash. So i ask you - what is a target of your posts in this thread?

[dead_m92]

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

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 !

[jrrsparkles]

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.