Losing all your fortune with just 3 years

[alegotardo]

I’m not sure if this story was already shared here but I just recently watch this gambler sad story from social media that is really heartbreaking.

The subject is Terrance Watanabe which is a successful businessman who has a huge business and money that becomes addicted on gambling. He lose a total of 127M which is all his fortune that he earn from his business. Imagine all your hardworking was turn out to nothing after a few years of gambling addiction.

The sad part here was he became a victim of casino scheme of alluring user with their offers and allowing him to play while drunk until he loss everything.

He manage to wager a whooping 825M $ in just a single year when he lose that 127M.

The case of Terrance Watanabe is known worldwide as the biggest whale in the history of Las Vegas, I find it difficult that anyone involved in the Gambling world has not at least read or heard this person's name at some point.
In any case, this is a case that is always interesting and relevant, remember, as it serves as an example and a lesson for many people to never make the same mistakes or fall for the same scams as him.

Terry Watanabe could rest easy when he won the civil and criminal cases against Caesar's Las Vegas in 2010, as it is in fact illegal for the casino to allow a person to gamble if they are drunk. Even though the casino accused Terrance again of taking hard drugs and also of continually harassing his employees, the gambler managed to win the case, I just don't remember what the fine was, but I know it was far from the amount that he lost betting and his measured fragility came a few years after he lost all that fortune.

Anyway, from what I've read so far, Terry was a generous person who had a serious problem with gambling addiction.

[Sandra_hakeem]

The subject is Terrance Watanabe which is a successful businessman who has a huge business and money that becomes addicted on gambling. He lose a total of 127M which is all his fortune that he earn from his business. Imagine all your hardworking was turn out to nothing after a few years of gambling addiction.

That's the most gruesome thing I've ever heard in my life.. HTF was anything able to convince him to start gambling? He has a good business that was already producing him so much that he had such a good savings..

Y'all need to watch your habits, cause they can be detrimental atimes. Dude never knew it'd get to an extent he'll be left with no penny! So basically, he enriched the casinos all in a bid to double his earnings. What a way to wax cold easily!

He manage to wager a whooping 825M $ in just a single year when he lose that 127M.

How do you mean? I didn't get this part. Had he been winning althrough till it got to some point - which he began losing?

[Casdinyard]

I’m not sure if this story was already shared here but I just recently watch this gambler sad story from social media that is really heartbreaking.

The subject is Terrance Watanabe which is a successful businessman who has a huge business and money that becomes addicted on gambling. He lose a total of 127M which is all his fortune that he earn from his business. Imagine all your hardworking was turn out to nothing after a few years of gambling addiction.

The sad part here was he became a victim of casino scheme of alluring user with their offers and allowing him to play while drunk until he loss everything.

He manage to wager a whooping 825M $ in just a single year when he lose that 127M.


Source: https://www.cbsnews.com/news/gambler-lost-127m-in-2007-sues-casino/

Real shit right here, and the thing is that this story was sensationalized only because he was already a prominent person to begin with, millions of people around the world with less money than him fall victim to gambling addiction, and sometimes they even go so far as to commit crimes, or subject themselves into even bigger trouble than what Watanabe did right here. Stories like these remind me of what happened to me during my darkest times, back when I was heavily addicted to gambling because of the lack of social contact, and how lucky and grateful I am that I was able to get out of that rut before shit turned for the worse.

But the thing is not everyone's gonna be as lucky as me, people everywhere would fall victim to revenge gambling and in turn, gambling addiction no matter how straight their mental is long as they have no sense of self-control. Terrance knew this and yet he still went through thinking he could beat the casino (and yes I blame him for shit, it's not like the casinos are to be held liable for his losses, after all, he's the one who chose to make those bets in the first place.)

Hope he learns his lesson and that he recovers his money without ever stepping foot on a casino again.

[uneng]

Imagine all your hardworking was turn out to nothing after a few years of gambling addiction.

Imagining that kind of situation was what prevented me from going further into gambling when I faced several sequential losses betting. In other words, thinking like that was what saved me from total bankruptcy, what would forbid me from taking any additional advantages of crypto market's bullish seasons and passive income from my investments, because everything would be gone through gambling. I feel sad for the gambler mentioned on this thread, because he has gone through a dark path which I fear to be hard to get rid of the negative consequences it's going to imply over his life.

Now everything he can do is to start from zero once again, but more careful and wise to analyze his actions and measure the potential consequences they are going to impact over his life. He hope he is able to do this, keeping his mind sane and his body strong to endure during the next challenges he is going to face in order to rebuild.

[mirakal]

Jeez man, that’s a lot of money. These are the type of cases that usually lead to the victim doing something stupid like committing suicide because of the shame, pressure and regrets he’ll face from his family.

I just did a quick scan through the article you shared and one part caught me attention.



This is insane - losing $5 million in a single day is not something that someone that is with us sane mind would pull off.

Obviously, this person is in deep addiction already. You won’t see any person betting on that huge amount and lose all of them in just a single day. One who did that is already out of his right thinking. I guess that’s how tempting having everything you have especially in terms of money, that you’ll end up doing things without thinking what would be consequences after you lose everything.

[stomachgrowls]

I believe the casino should be party responsible to this since they knew how huge the money this guy lose yet they continue to offer him a huge credit line to gamble even though the intoxication is clearly visible.

I don't recall seeing casinos stop people from gambling even though addiction signs are there. Maybe they will do that when a regulation asks them to do so, but I doubt any business will block a user when he brings them a lot of money. I remember having this same discussion on another thread, with more or less the same topic as this one. What OP shared is definitely one of the biggest losses that I've read so far.

There is no limit to how much money a gambler is willing to spend to satisfy his desires at land-based casinos, unless the government has set specific rules. I don't know if there is such a rule where gambling has been legalized, but if there is then it will certainly help a seriously addicted gambler to stop midway when he has reached his limit in a day or in a month.

Online casinos have asked and told their customers to gamble responsibly in their TOS. Customers need to read it to be aware of the signs of addiction and how to minimize it, but addiction problems are the most common among regular gamblers. Losing such a large amount of money is very sad, but in this case who is to blame?

If you are someone who does have that tons or lots of money then you would really be having that kind of confidence on which you would really be playing like a madman since you do know that you do still have money on your pocket on which means that on the time that you would really be seeing that you are already experiencing some hardship because of too much lose then this is the time that you would really be making yourself having those kind of realization that you dont have much more money left on which it is really the moment that you would really be finding yourself having that kind of spending but well its already too late.
The damage has been already done and recovery would really be that so close to impossible. It is really just that too shocking on how someone wouldnt be able to make himself wary that he's losing almost a billion in overall. lol

[Yatsan]

Jeez man, that’s a lot of money. These are the type of cases that usually lead to the victim doing something stupid like committing suicide because of the shame, pressure and regrets he’ll face from his family.

I just did a quick scan through the article you shared and one part caught me attention.



This is insane - losing $5 million in a single day is not something that someone that is with us sane mind would pull off.

Just a normal day for people who have big drives in gambling along with big bankrolls. This kind of story have been heard with other rich people and nothing's really becoming a lesson unless it personally happens to you. Huge amount of money indeed to just be lost in gambling.  This is the problem with most of the rich people in both land based and online gambling that they are pushing their luck too much because they're so confident of their businesses and salaries. At the end of the day it is him who'd know if he's in the verge of baankruptcy due to this instance and it will still him to decide whether he would continue playing or haave it a stop already.

Jeez man, that’s a lot of money. These are the type of cases that usually lead to the victim doing something stupid like committing suicide because of the shame, pressure and regrets he’ll face from his family.

I just did a quick scan through the article you shared and one part caught me attention.



This is insane - losing $5 million in a single day is not something that someone that is with us sane mind would pull off.

Obviously, this person is in deep addiction already. You won’t see any person betting on that huge amount and lose all of them in just a single day. One who did that is already out of his right thinking. I guess that’s how tempting having everything you have especially in terms of money, that you’ll end up doing things without thinking what would be consequences after you lose everything.

Actually it is hard to tell. Yes for us it is really a huge amount of money but he's a businessman and I hope these numbers are still under his risk tolerance. If he's being problematic about this loss, then decision should be made by him already. I still consider the idea that he's aware of this and his bankroll is just that big leading to this scenario, since I don't know much of him. He's in addiction if things are falling apart because of this loss.

[Potato Chips]

If it was pure addiction then yeah, the fault lies among the gambler. But it seems like this addiction was under the influence of alcohol, and trusting the article, it seems like the Casino law itself states that it's not allowed.

From the article:

Now he has filed a civil suit, claiming casino staff regularly plied him with alcohol and painkillers in order to keep him gambling. Casino rules and state law both say anyone who is visibly intoxicated should not be allowed to gamble.

It's a good law. It should be common sense people aren't gonna be making sound decisions if they're high AF. Thing is, not every casino will follow it as we have seen in this case, the same way not every player will report it once they notice such scenario.

But sadly, the casino in question was only fined for a measly amount. I don't think this made a dent on them especially if we compare it to the amount Watanabe lost.

and Caesar’s Entertainment was fined $225,000 in March 2013 by regulators for not stopping Watanabe from gambling when visibly intoxicated.

[swogerino]

Jeez man, that’s a lot of money. These are the type of cases that usually lead to the victim doing something stupid like committing suicide because of the shame, pressure and regrets he’ll face from his family.

I just did a quick scan through the article you shared and one part caught me attention.



This is insane - losing $5 million in a single day is not something that someone that is with us sane mind would pull off.

Obviously, this person is in deep addiction already. You won’t see any person betting on that huge amount and lose all of them in just a single day. One who did that is already out of his right thinking. I guess that’s how tempting having everything you have especially in terms of money, that you’ll end up doing things without thinking what would be consequences after you lose everything.

Yeah,there is no logic in doing this thing.I guess the only reason why he did it is because he got bored of having everything in life and I assume it was a life of no emotions,having a business and running it is quite a monotone life that most people get bored very easily.I know understand that saying that money does not bring happiness to people who are billionaire and millionaires and have everything under their control.The few people who are happy from this category is their children who enjoy their money while the people who have build the fortune usually are sad and not happy,quite a messy world we live in,some suffer to end the month and other have everything and much more than they need.

[Mrbluntzy]

Money is hard to make, difficult to save, it takes a very determined person to be able save for a long time without spending but it is very easy to waste and lose the money we have saved. Gambling is create and easy means for someone to waste their money. For example, stake $100 million in a slot game and you will run loss instantly, stake another $100 million and it will vanish without waste of time. 3 year is even far for him to have lost all the life fortune but he was just so foolish to have allowed it happen. Gambling is not an occupation and if he was wise at all, he would have known that he can not make such money from gambling.

[topbitcoin]

Never mind gambling while drunk or semi-conscious, gambling while sober without the influence of alcohol or narcotics, we still often experience losses. Moreover, if we gamble in a semi-conscious state, we no longer imagine that what we will face is only losses.

And regarding what happened to Terrance Watanabe, I think that is more than enough to remind us how detrimental gambling activities can be if not controlled properly. The negative impact of gambling addiction turns out to be worse than we thought, because in my opinion the losses experienced by Terrance Watanabe don't stop there, and it could be that he not only loses the amount of money he has, but he will also lose the trust of other people and lost the people closest to him who he loved. So in the future it may be quite difficult for him to return to running his business, because his bad behavior in gambling could become a separate consideration when other people want to work with him. Where maybe other people will feel quite hesitant about working with him again.

[Cantsay]

If it was pure addiction then yeah, the fault lies among the gambler. But it seems like this addiction was under the influence of alcohol, and trusting the article, it seems like the Casino law itself states that it's not allowed.

From the article:

Now he has filed a civil suit, claiming casino staff regularly plied him with alcohol and painkillers in order to keep him gambling. Casino rules and state law both say anyone who is visibly intoxicated should not be allowed to gamble.

I didn’t read the whole article completely - I stopped at the posing when they said he gambled $5 million daily. If truly he gambled all the money under the influence of alcohol which I doubt (because they could be a time when he’d calm down from the alcohol and realize his mistake) that would be a good time for him to reflect on his decision and quit gambling but the fact that he went back means that it wasn’t just the alcohol that influenced him.

I’ll try to do more reading on this case because it’s becoming more interesting - and I’d also want to know if a gambler files such a lawsuit against a casino for making him intoxicated during his gambling session if he’d be refunded all the money he gambled while being drunk or just a part of it.

[Negotiation]

It's normal for gamblers to experience losses when gambling but it's difficult for gamblers who can't stop themselves from losing after all the losses. Try to control yourself and be careful people learn from mistakes and move forward since you have lost everything, try to recover yourself before taking more risks as luck may not be on your side. Apart from gambling choose other alternative ways to get success. The person who lost in the gambling game will gamble again because of the loss of money. Gambling is the worst and worst addiction in this world. There are many who have become great through gambling but I have never heard of anyone who became great through gambling.

[moneystery]

"His total bets that year were $825 million - roughly equivalent to the gross domestic product of the British Virgin Islands."

it's absolutely crazy how one individual has that much betting total. i don't know whether he is really crazy or what, because only a crazy person would gamble that much money and i really wonder how it is possible that he is still alive and facing that much loss and the punishment that will be imposed on him. so far, this is the news about gambling addiction that can surprise me.

[Crypt0Gore]

I’m not sure if this story was already shared here but I just recently watch this gambler sad story from social media that is really heartbreaking.

The subject is Terrance Watanabe which is a successful businessman who has a huge business and money that becomes addicted on gambling. He lose a total of 127M which is all his fortune that he earn from his business. Imagine all your hardworking was turn out to nothing after a few years of gambling addiction.

The sad part here was he became a victim of casino scheme of alluring user with their offers and allowing him to play while drunk until he loss everything.

He manage to wager a whooping 825M $ in just a single year when he lose that 127M.


Source: https://www.cbsnews.com/news/gambler-lost-127m-in-2007-sues-casino/

Now this is a crazy story, not a sad one.

127 Million is already a lot, I can live a great life with just 1M in dollars what is this man looking for? Was he under a witchcraft power or something? Why is he gambling? To make trillions? This man is a example of massive greed, in one single man, he'll no, I won't feel pity for such person.

While he was saving his hard earned money he should be thinking about investing most of the amount instead of gambling everything away, he is a useless piece of trash, in fact I am very angry with this person, someone like him should be gambling for fun because he already have it all.

He can play these games without using big amount of money, because I believe that most gamblers are into gambling to make money, but he already have it all, what else is he looking for? May humans are asking for grace to get to where he was in life, nonsense.

I could sound cruel but this man deserves what happened to him.

[irhact]

I’m not sure if this story was already shared here but I just recently watch this gambler sad story from social media that is really heartbreaking.

The subject is Terrance Watanabe which is a successful businessman who has a huge business and money that becomes addicted on gambling. He lose a total of 127M which is all his fortune that he earn from his business. Imagine all your hardworking was turn out to nothing after a few years of gambling addiction.

Indeed it's really heart breaking, losing such a huge sum of money could make someone go crazy, situations like this have made many individuals embark on suicidal attempts, it's very heartbreaking when individuals move from here to zero cause at that point, to some individuals it seems like the end of the world cause not everyone would be very determined to start all over again.

 Now this is what happens when individuals fail to gamble responsibly, yes gambling could make someone a fortune but that's a prove it could take away someone's fortune, if T Watanbe was a responsible gambler their are chances that he would've made double the amount he made due to his high staking power but then he decided to drink while gambling and goy drunk as a gambler you ought to be in the right state of mind while on it, alcohol should be tolerated and if you're to drink, drink responsibly.

[TheUltraElite]

The lives of businessmen are often filled with vices, that include drinking, gambling and hookers. However safe and successful businessmen maintain discipline in their lifestyle with a moderation in entertainment.

Even more celebs and sport personal waste their lives on such lavish spendings. Here again discipline is important which is much lacking because of their background.

Thing to learn here is that whatever may be your income, moderate your spending.

[bakasabo]

Even from reading topic name it was clear to me that someone tried to chase his loss and lost everything. A common yet crucial mistake most of the gamblers do, even though from every corner it is reminded not to do that. But in this case, we should not only blame that gambler for being irresponsible, but casino in general, because they allowed him to play while being drunk (do casinos even care about that or that is "gamblers problem"?) and I am somehow sure they have cheated during game also.

[angrybirdy]

I’m not sure if this story was already shared here but I just recently watch this gambler sad story from social media that is really heartbreaking.

The subject is Terrance Watanabe which is a successful businessman who has a huge business and money that becomes addicted on gambling. He lose a total of 127M which is all his fortune that he earn from his business. Imagine all your hardworking was turn out to nothing after a few years of gambling addiction.

The sad part here was he became a victim of casino scheme of alluring user with their offers and allowing him to play while drunk until he loss everything.

He manage to wager a whooping 825M $ in just a single year when he lose that 127M.


Source: https://www.cbsnews.com/news/gambler-lost-127m-in-2007-sues-casino/

That's the importance of self management, It is not allowed to gamble while you're not on your good state because there's a lot of things that might happen in just a snap, just like what happened to the victime, He gamble while he is drunk, Whether we admit it or not, there are times when you can't think straight when you're drunk, you became dizzy, for sure he didn't control what he was doing and only then did he see the effect when it was gone he is drunk.

[Lida93]

Jeez man, that’s a lot of money. These are the type of cases that usually lead to the victim doing something stupid like committing suicide because of the shame, pressure and regrets he’ll face from his family.

A lot of money indeed but yet,  no amount of money is worth taking ones own life for. Committing suicide due to a loss of money to gamble in my opinion makes the person much more of a coward than just in the money lost. It's so unfortunately that some gamblers don't seem to know the protective power behind responsible gambling, that's why they don't  seriously to build a self-discipline gambling culture.

I just did a quick scan through the article you shared and one part caught me attention.



This is insane - losing $5 million in a single day is not something that someone that is with us sane mind would pull off.

This is one of those real life stories that should rather be taken by gamblers (both newbies and oldies) as a caveat that gamble is not an activity anyone would want to get addicted to as there's no gain getting addicted, you'll rather be at the lose end.

Furthermore, a warning that gambling can't be categorized as a source of income even to both the rich and poor gambler. As in, how does this man get to explain to his family and friends that he lost $5M in a day to gamble, this is an amount that many if us gamblers spend years trying to win accumulatively.