Man lost £20,000 in one night after becoming addicted to online gambling!

[Cling18]

I guess he almost forgot the risks of gambling that he used a huge sum of money to gamble in just a single night. Gambling addiction could really lead us to losses that will only bring regrets in the future. One person needs self-discipline and self-control to get rid of this mental illness. Sometimes, if we're enjoying something, we tend to forget its negative effects which we have to be mindful of.

[doomloop]

This isn't about entertainment anymore, gambling addiction is a mental disorder. A person couldn't become addicted immediately in 1 night, this person is regularly gambling online and this time he exceeded to his usual gambling routine that he ended up spending more time and money onto it.

I feel like people who are new to gambling are rather more prone to losing big amounts of money as compared to someone who gambles on a regular basis because when you are new into gambling you feel like you have found a way to earn easy money and initially you might actually win some which then makes you go big and hence go bankrupt.

But once you are gambling for some time you automatically build a sense of understanding that it is not possible to win every time and if the bets are not paying then it might be the right time to stop betting.

People who are new to gambling/betting think they just cannot lose which is the root of the problem.

[Lakai01]

I guess he almost forgot the risks of gambling that he used a huge sum of money to gamble in just a single night.

What is happening here psychologically is this:
You lose, let's say, 1k by "bad luck" while playing. But the player does not accept the loss and now tries to make up for the loss with even higher stakes. Even if this succeeds in the next game, there is a good chance that the player thinks he is on a lucky streak and continues to play - instead of stopping at this point.

This leads to an accelerating downward spiral where losses are compensated by betting even more money. Until you end up there and have lost 20k or more ...

[dunfida]

I guess he almost forgot the risks of gambling that he used a huge sum of money to gamble in just a single night. Gambling addiction could really lead us to losses that will only bring regrets in the future. One person needs self-discipline and self-control to get rid of this mental illness. Sometimes, if we're enjoying something, we tend to forget its negative effects which we have to be mindful of.

'If you arent mindful with your actions then you would most likely be ending up with this kind of scenario or event on where you do play gambling but doesnt already mind off on how much
money you are already spending and thats a bad thing or simply does shows that you are already addicted to it.
We should be aware towards our actions and it is really a bad idea on borrowing up money just to cover up your gambling habits because it will surely
be making more problems rather than on solving it.

[iamsheikhadil]

I guess he almost forgot the risks of gambling that he used a huge sum of money to gamble in just a single night. Gambling addiction could really lead us to losses that will only bring regrets in the future. One person needs self-discipline and self-control to get rid of this mental illness. Sometimes, if we're enjoying something, we tend to forget its negative effects which we have to be mindful of.

I'm of the opinion that he knew all risks, he just focused on his greed and didn't care about the value of hard earned money and ethics. This is the saddest thing, when you know you will lose anyways since desire is unlimited but your greed never stops. Every person no matter their financial status can do hard work and improve their living conditions in a good way. Chasing easy and illegitimate money is never acceptable. Gambling is such an addiction, that I wouldn't even want it happen to my worst enemies!

[tygeade]

£40,000 is a big amount but this is still a mild case if we look at how gambling addiction could actually ruin more than your finances.

The problem with gambling is not the amounts but the control you are losing over yourself actually. I have been into gambling for a long time now and I know it can be a disaster once you start losing control and even worst once you start chasing your losses. 40k Euro is nothing for a rich man so I won't say he lost too much and wouldn't recover. Whether the amount is big or not, we must not gamble what we cannot afford to, this simple thing people fail to apply in real life.

The role of gambling addiction recovery programs, whether government or private, cannot be overemphasized.

Indeed but gamblers who are addicted need to understand that gambling addiction is similar to something like fever, it won't go off its own and there should be no shame in admitting to addiction as long as you are ready to overcome it, must see a doctor.

[stomachgrowls]

I guess he almost forgot the risks of gambling that he used a huge sum of money to gamble in just a single night. Gambling addiction could really lead us to losses that will only bring regrets in the future. One person needs self-discipline and self-control to get rid of this mental illness. Sometimes, if we're enjoying something, we tend to forget its negative effects which we have to be mindful of.

I'm of the opinion that he knew all risks, he just focused on his greed and didn't care about the value of hard earned money and ethics. This is the saddest thing, when you know you will lose anyways since desire is unlimited but your greed never stops. Every person no matter their financial status can do hard work and improve their living conditions in a good way. Chasing easy and illegitimate money is never acceptable. Gambling is such an addiction, that I wouldn't even want it happen to my worst enemies!

Common reasons;

-Chasing up his losses
-Thinking of on getting huge sums in profits or winnings
-Can repay those loaned money he taken
-Greed
-Impulsive emotion
-Doesnt really mind on what would be the consquences

Even if he's aware on the possible problems but still tolerated his addiction then he would really suffer after that.

[bitjoin]

Addiction is a serious thing and I don't like that people say that you just have to be strong willed if you want to stop addiction, look at this person, he could've stopped when he was around 5k loss but addiction doesn't permit stopping.

All he had in mind was that he wanted to win. The greater the money that has been spent while playing gambling, the greater his lust for victory. The person will continue to play with the hope of getting the jackpot so that he can get back the money he lost. I was never surprised to see someone lose so much. Because when addiction can't be controlled, it would be difficult for someone to stop playing while in a losing position.

[FanEagle]

I don't know why they are caught up in this moment but I think people know the risks yet they still try. Was it appropriate for him to call the gambling firm wrong or he was right? (See the last part of the article or better read the 3 mins. article instead)

I guess people do not really end up gambling because they are addicts, they are addicts because they gamble. What I mean is you do not know if you would be a good gambler who just does it time to time with a small amount you can lose, or if you are a person who would get in and lose 20 thousand pounds when you get addicted, it is really weird.

I personally do not feel like I could do anything like that, not that I have the money for doing it anyway but I probably won't do that at all, it would not make any sense. This means there are some people out there, probably kids right now who will grow up, and they have no idea what kind of gambler they are, maybe you will be fine and spend 50 quids on it per month, or maybe you will get addicted and go crazy and lose everything you ever owned, nobody knows until they try and that is a scary feeling to be honest.

[Woodie]

if you gamble for the wrong reasons like getting rich over night you will learn this the hardway!

It's unfortunate that for first timers in gambling they usually win the first few games which clouds their judgement and want to go all in as they build confidence not knowing that's how the gambling addiction starts as you are forced to chase your losses.

Sad news for the lad that took his life, if you suffering from gambling addiction talk to someone,it should never end this way.

[just_Alice]

I'm a bit skeptical about this news since the man seems more like a photo model than a gambling addict, and the advertisement tho.. (cough @Footsteps)

Anyway, if the story is true, the problem is always betting tremendous amount of money that he couldn't afford to lose. Remember the 10:90 principle, 10% of your net worth max for gambling, and this problem won't exist.

I don't know, losing 10% of your net worth is already a lot, from my standpoint. True, it's not a killing amount, but it's enough to make someone think about getting it back, "to recover the losses", as gamblers like to say. I think a gambler should risk not more than he/she can easily afford to lose. Losing 10% of all your money is never easy.

[Rengga Jati]

This is exactly one of the risks of gambling, being addicted, this happens because the gamblers cannot control their ways and willing to manage the funds, emotion, and also willingness to gamble.
And being addicted is very usual in gambling, most of them are experiencing this. But it may vary o how hard the addiction is.
or his case, he may not change enough if he is not treated carefully and wisely. Sometimes, losing much money can also make someone feel stressful but sometimes they are eager to play more and more.

[macson]

I guess he almost forgot the risks of gambling that he used a huge sum of money to gamble in just a single night. Gambling addiction could really lead us to losses that will only bring regrets in the future. One person needs self-discipline and self-control to get rid of this mental illness. Sometimes, if we're enjoying something, we tend to forget its negative effects which we have to be mindful of.

If he remembers the risks involved when he loses all the money then he is not yet an gamble addict....an addict will not realize and accept that he has lost, his greedy passionately darkens his eyes and thinks that in the next round i will win, and so on.

If you, a friend or your relative has a gambling addiction problem like this then seek treatment immediately to a psychiatrist, so that this addiction does not ruin your future.

[Oceat]

Too much risk taking that he forgot that there are consequences if he lost. I guess the guy's trying to make some money but forget that gambling is not a way to earn some money or he doesn't think that risk management is very important? I can't think any reason why he suddenly becoming addicted to gambling. It must be his first time having a real good time but didn't bother the aftereffect of staying too much in a game. Poor soul, just end his life without thinking another way to solve his mistake.

That's why people should learn first how to manage risk even if you think you are rich it won't matter when you landed on a casino.

[numanoid]

€20000 or around $24000, why you guys feel shocked like that? In fact there are lot of people who have lose more than that amount multiple times bigger than that. I remembered a guy who lose 300 BTC in bustabit, you can calculate how big his lose on USD or euro terms. That gambler simply don't have money management and greedy while he already ahead, nothing to be surprised on here though

[ethereumhunter]

I think the gambling firm is not wrong because that firm only gives way for people to play the game with money involved. He does not know how to control the money used for gambling, and coincidentally, he loses too big money in gambling. Maybe he knows the risk, but he still plays gambling, and he loses for some money but continues to recover his losses. We can blame other people if we are losing the money but if we can be wise and think for a while, maybe that mistake comes from ourselves.

[Sithara007]

€20000 or around $24000, why you guys feel shocked like that? In fact there are lot of people who have lose more than that amount multiple times bigger than that. I remembered a guy who lose 300 BTC in bustabit, you can calculate how big his lose on USD or euro terms. That gambler simply don't have money management and greedy while he already ahead, nothing to be surprised on here though

Needs to be said in a relative sense. For someone with a net worth of above $1 million, this amount may be huge, but not life-threatening. But the same can't be said about someone who has a savings of only around $25,000. A few years back, I read about an Arab sheikh, who lost around $10 million in a casino in Monaco. These guys could afford that, because they have enough cash with them. The problem occurs when someone with a hand to mouth existence try to repeat the same.

[warg2017]

€20000 or around $24000, why you guys feel shocked like that? In fact there are lot of people who have lose more than that amount multiple times bigger than that. I remembered a guy who lose 300 BTC in bustabit, you can calculate how big his lose on USD or euro terms. That gambler simply don't have money management and greedy while he already ahead, nothing to be surprised on here though

I have heard about a lot of gambling addiction man were lost a big mount of money within one night, for they were lost, €20000 is really not a big number.
There was a gambler in the village next to mine, he has a nickname "won't die", due to he has a lot of experience of firtst lose a lot and win back. But the last time he was not lucky anymore, lost about tens of dollars , and then he had killed himself.

[Ucy]

After becoming addicted to online casino games in March last year, he lost £40,000 in the space of a month, losing half of that in just one night.

After losing that money too, he found himself in massive debt, and contemplated taking his own life.

https://www.mirror.co.uk/news/uk-news/man-lost-20000-one-night-24067466

I don't know why they are caught up in this moment but I think people know the risks yet they still try. Was it appropriate for him to call the gambling firm wrong or he was right? (See the last part of the article or better read the 3 mins. article instead)

Casinos or Betting businesses need to encourage their customers to be responsible bettors and avoid gambling in bets (or avoid taking big betting risk)... It's as simple as that.
You can't be encouraging people to gamble in bets and expect them to be responsible bettors.



Don't bet with what you can't afford risk/lose.
Bet but don't gamble. Bet responsibly.
It's has to be Safe Bets.

Only use Good Casinos or Betting businesses that encourage safe betting.

[Questat]

That was because of addiction, that's how dangerous addiction is, it will make you lose everything you have if you will not stop. People with this kind of problem do not think that losing is possible, they will always think of bouncing back until they don't have anything to gamble.

Gambling is not bad if we treat it as entertainment, or we can go further but we need to make sure we are already responsible enough to manage the risk. This guy has learned his lesson the hard way,  £20,000 might take a while for him to recover but not in gambling anymore.