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Author Topic: This person made $500,000 with gambling and lost it all within 60 seconds!  (Read 13852 times)
Caladonian
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February 10, 2019, 01:58:39 AM
 #101

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.
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February 10, 2019, 05:47:39 AM
 #102

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.

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February 10, 2019, 01:12:51 PM
 #103

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.

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February 10, 2019, 04:02:00 PM
 #104

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.



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.

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February 10, 2019, 04:38:55 PM
 #105

He lost over $300,000 within 48 hours.. This is crazy money for me.
How is possible? If you catch "bad" or "lose" day need stop betting.
Sport bets is high risk, I prefer blackjack for high amount.
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February 10, 2019, 04:59:20 PM
 #106


unfortunately the world of gaming is so there is no certainty of a continuous win, constant one can lose in a moment all the profit of months of  betting / gambling

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February 10, 2019, 09:56:13 PM
 #107

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:
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.
This is not only related to Bitcoin or Casino Games - if you think Sports betting is different think twice after reading this:
This person lost over $300,000 within 48 hours, all because of sports betting, he had bets on tennis, basketball, soccer - you name it.
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 you are careful with your funds you will end up like that, this will not be the first story you hear nor it will be the last story you will be hearing, i have seen people gambling hundreds of bitcoin in dice sites and winning a lot and then end up loosing everything, it is a kind of addiction and you need special care to overcome these issues, i have had my issues in the past, i have not lost this much amount even if i add cumulatively, but i have lost a fairly huge amount if i added all of my gambling losses in the past ten years, all of the losses came through sports betting, there are people who made millions through gambling, but nothing is certain for a longer period, there are people wagging millions for sports gambling but they will have their losses, overcoming these losses is the biggest hurdle.

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February 11, 2019, 01:30:05 PM
 #108

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.

That is right. I cannot imagine what was his feeling to know that he loses the money he wins from gambling. I bet he will feel desperate and feel bad for a long time since it's not easy to win that big amount. I hope that we don't have that bad experience in the future especially if we can win big money from gambling so we can use the money for many things. It is an important lesson for every people who are involved in gambling games so we can avoid a bad experience.



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February 12, 2019, 01:11:41 AM
 #109


He lost over $300,000 within 48 hours.. This is crazy money for me.

yes the said amount is freakin huge . i could retire from my job and live for the whole 5 years if i have that amount of money but for him maybe that is only small , thats why he didnt care at all even he loose it on a day  .

How is possible? If you catch "bad" or "lose" day need stop betting.

yeah  . bad luck means bad luck , you need to stop for awhile and try again your luck next time  .

Sport bets is high risk, I prefer blackjack for high amount.

good for you . for most gamblers they think that sports related games are more easier because they can analyze the best teams but thats not guarantee at all times  . gambling will still be gambling and all will depend on luck

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February 12, 2019, 08:37:29 AM
 #110

He lost over $300,000 within 48 hours.. This is crazy money for me.
How is possible? If you catch "bad" or "lose" day need stop betting.
Sport bets is high risk, I prefer blackjack for high amount.

No, it's not crazy. That will happen to a person who still wants to chase big money in gambling even if he already made $300,000. Maybe in out there, we can see more examples of people who are losing bigger money because they still playing and go all in with that money but in the next minute, he loses everything and doesn't have any money. Every gambling will have a risk, and we should know that, and we need to avoid to stay for a long time.



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February 12, 2019, 02:40:16 PM
 #111

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.


I almost felt the same way as the guy who lost this huge amount. I felt my knees weak. This is why you should have control and learn how to quit. This is a real example of an addict gambler who instead of going home with a big cash on hand, ending up not just lost but having a huge debt which is reverse. I hope this will become a lesson to all of us.

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February 12, 2019, 04:16:12 PM
Merited by Natalim (2)
 #112

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.


I almost felt the same way as the guy who lost this huge amount. I felt my knees weak. This is why you should have control and learn how to quit. This is a real example of an addict gambler who instead of going home with a big cash on hand, ending up not just lost but having a huge debt which is reverse. I hope this will become a lesson to all of us.
It is often to happens when we never know satisfaction.
We are not all the time that we have luck, we put into a certain scenario that we always win at this time but it could be possibly a big opposite later. It came into realization that, winning is merely to happen always but having a huge percentage of losing. 

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February 12, 2019, 04:56:05 PM
 #113

This is really very informative and a great advice and examples for those addicted to gambling.  Like op said you can never be rich through gambling therefore why not gamble or bet with money you can afford to lose.  I think most of the gamblers lose because of greed.
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February 12, 2019, 06:11:55 PM
 #114

This is really very informative and a great advice and examples for those addicted to gambling.  Like op said you can never be rich through gambling therefore why not gamble or bet with money you can afford to lose.  I think most of the gamblers lose because of greed.

People need to be smart in making decisions and also need to control the greed. Here greed is what has taken over and as a result we have seen what has happened due to which lost 500k$ within a minute. Always be careful in decisions as in gambling you can lose as quickly as you win.

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February 12, 2019, 07:05:40 PM
 #115

hehe normal gambling storys Cheesy
My friend just won yesterday 38 000€ in an trusted online casino.  (https://www.eurocasino.com/)
And now he cashed out 20 000€ to skrill . Direct after he won 38 000 he lost around 18 000e with the next spins Cheesy
Even if he cashed now 20 000 out he is at around zero in his hole gambling story :_D




regards
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February 12, 2019, 07:12:13 PM
 #116


unfortunately the world of gaming is so there is no certainty of a continuous win, constant one can lose in a moment all the profit of months of  betting / gambling
that's true, but a gambler needs a victory for his satisfied
an addict player will come back to the gambling area even though they have often suffered losses
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February 13, 2019, 02:47:46 AM
 #117

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.

I think it's all about luck when getting profit we need to holding them for taking it to the home but I think he had no Strategies and betting tricks that's why he losses is profit and there is no other way of storing his income at any stage.
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February 13, 2019, 03:54:54 AM
 #118

,,,
I think it's all about luck when getting profit we need to holding them for taking it to the home but I think he had no Strategies and betting tricks that's why he losses is profit and there is no other way of storing his income at any stage.

skills , tricks and strategy do also matter when playing a gambling game but all of those are useless if a gambler didnt have a self control  because even if how much he wons , he will still lost it all the longer he play because he is already hooked in the game due to his winning momentum

...
that's true, but a gambler needs a victory for his satisfied
an addict player will come back to the gambling area even though they have often suffered losses

not all gambler are playing for cash . some plays because they are only passing the time or to have fun in short  and not all gamblers are addicts  . some will come back because they will play again but it doesnt mean that they are already addicted  .

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February 13, 2019, 04:28:06 AM
 #119

Moral of the story was too. If people think sport betting are less risky, once I bet on a soccer match, can't remember the name. I bet after one team scored 1 goal at 70+ minutes. I thought the match will be won by my team but lose. Another is, I bet after one team scored twice, still I lose.

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February 13, 2019, 05:27:43 AM
 #120

hehe normal gambling storys Cheesy
My friend just won yesterday 38 000€ in an trusted online casino.  (https://www.eurocasino.com/)
And now he cashed out 20 000€ to skrill . Direct after he won 38 000 he lost around 18 000e with the next spins Cheesy
Even if he cashed now 20 000 out he is at around zero in his hole gambling story :_D




regards

Lol normal story in gambling, but the amount of money he lost isnt as normal as you think to anyone else.
But, yeah depends to the person how he handles the outcome right after he step out off the door.
Profitable gambling is really hard to achieve, since we didnt know how long would our luck stays on our side, and when we start losing, stop isnt even one of the option. So, how would you think a gambler end up?

 
 

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