Losing all your fortune with just 3 years

[LUCKMCFLY]

There is a very good proverb: “Greed leads to poverty.” Very well said, in my opinion. Most smart investors and businessmen become more conservative as their capital grows. And this is quite rational behavior: in fact, why risk most of your capital when you are already rich and will have enough money for the rest of your life? But, apparently, this is a special form of gambling addiction. So to speak, the gambling addiction of rich people who go crazy with their money.

What you say is very good, in fact you reminded me of a saying that they say where I live with this type of things: "Greed breaks the stock market" and I think that a relatively rich person, if he loses all his money, it is because he has no education financial, and you can Forgive him for that, but if you don't know how to have or manage your money you have to look for a well-studied financial advisor so that you can improve and not spend everything, sometimes it is not our Fault if we are born poor, but if we are to blame of dying being poor, because there are many opportunities to do things well and have some money, and earning money always means knowing more, being very good. smart too, so you can't excuse someone rich from losing too much at a casino or sports betting.

[Mia Chloe]

There is a very good proverb: “Greed leads to poverty.” Very well said, in my opinion. Most smart investors and businessmen become more conservative as their capital grows. And this is quite rational behavior: in fact, why risk most of your capital when you are already rich and will have enough money for the rest of your life? But, apparently, this is a special form of gambling addiction. So to speak, the gambling addiction of rich people who go crazy with their money.

I think you are right Op. Majority of gamblers that over stake and sometimes probably end up as addicts are actually making those wrong moves and mistakes because of their intent which is fueled by greed. Some other times some gamblers end up being blinded by their emotions and continue to place bets over and over again even when they are losing and end up losing even more than the lost initially which prompted them to blindly stake.

Wow 😳😲, that's money is fucking huge man and the worse part is that he is not even a footballer or musician or someone that has that kind of massive income flow that can easily correct his errors. A business man having that kind of funds must have really worked his ass off because that money is no joke and all in the name and desperation of gambling ended everything so swiftly. I mean that's the craziness of gambling addiction, it can make you go mad with your habits.

Weather foot baller, musician or not, it's very improper to stake above your means as a gambler. Every responsible gambler should have a boundary and limit to how much and how often they carry out gambling activities.

[jossiel]

There is a very good proverb: “Greed leads to poverty.” Very well said, in my opinion. Most smart investors and businessmen become more conservative as their capital grows. And this is quite rational behavior: in fact, why risk most of your capital when you are already rich and will have enough money for the rest of your life? But, apparently, this is a special form of gambling addiction. So to speak, the gambling addiction of rich people who go crazy with their money.

Simple but meaningful.

The effect of it can really make someone deal with poverty. Because if you know how to make riches, you're not going to spend it randomly on gambling.

It's okay to gamble but you're going to protect your wealth and you're not going to the point of your life that you can afford to lose them all.

[teamsherry]

Gambling addiction Is fucking real and can cause more harm than good to anyone involved, this this has just mealted his finances in less than a year, this calls the need for education on gambling addiction and finding ways to help those thar are already too dip put if that financial pit hole that threatens to destroy them.

[Akbarkoe]

Gambling addiction Is fucking real and can cause more harm than good to anyone involved, this this has just mealted his finances in less than a year, this calls the need for education on gambling addiction and finding ways to help those thar are already too dip put if that financial pit hole that threatens to destroy them.

An addiction to gambling is a reality and it can do far more harm than good to any person involved. This addiction can in less than one year totally decimate an individual's financial situation with irrevocable consequences, thus, education about the dangers of gambling addiction is very essential for everyone. There are people who are already down too deep in such a hole that engulfed their money which means they are almost destroyed; however, we need to find ways to help them despite the seeming hopelessness of their situations.

The point for us all to appreciate is that gambling addiction isn't a trifling issue that can be left unattended. It's not only about losing money; it's also about the profound emotional and psychological effects. Individuals caught in a gambling dependency tend to feel hopeless, ashamed and helpless.

If we are to be of any assistance to these individuals, the first step is to educate others on the perils of gambling addiction. This includes implementing awareness programs in schools, communities and workplaces, an effective initial action. Moreover, provision of access to counseling and support services holds weight in this matter as well. The reality is that a large number of individuals require specialized assistance to extricate themselves from this quagmire of addiction.

[boty]

There is a very good proverb: “Greed leads to poverty.” Very well said, in my opinion. Most smart investors and businessmen become more conservative as their capital grows. And this is quite rational behavior: in fact, why risk most of your capital when you are already rich and will have enough money for the rest of your life? But, apparently, this is a special form of gambling addiction. So to speak, the gambling addiction of rich people who go crazy with their money.

Simple but meaningful.

The effect of it can really make someone deal with poverty. Because if you know how to make riches, you're not going to spend it randomly on gambling.

It's okay to gamble but you're going to protect your wealth and you're not going to the point of your life that you can afford to lose them all.

Of course the impact resulting from gambling will certainly make someone lose all their wealth if they cannot control their gambling activities and what is worse is that they have a lot of debt out there of course this will put them in problems that are difficult to solve and for some people who understand well the difficulty of earning money, of course they will not spend more of their money on gambling and they will gamble according to the money they can afford and remain in good self-control.

To be able to protect our wealth, of course we have to be able to control the gambling activities we do and not gamble too often and limit the funds they use for gambling, but this is very difficult for some people who have experienced an addiction to gambling.

[tread93]

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/

Its wild to me that people who already have all the money they could need in the world still turn to entertainment in this form. Surely there are other forms of entertainment that are affordable, especially if you're a multimillionaire! This man lost his focus, and therefore he lost his life. It just goes to show you that if you lose focus of your business and life and turn to forms of addiction you will lose it all! Temptations, pleasures, money, its all fleeting. What is sure to stick is the proper character when focused on with sheer discipline and restraint. When you work hard and sacrifice, this is what will keep the rich richer & even turn the poor man turn into a rich one.

[CODE200]

Gambling addiction Is fucking real and can cause more harm than good to anyone involved, this this has just mealted his finances in less than a year, this calls the need for education on gambling addiction and finding ways to help those thar are already too dip put if that financial pit hole that threatens to destroy them.

Whoever is saying that it's not real is probably a person that doesn't know the alphabet or has the logical reasoning of 5 year old. I don't even think it's worth discussing over whether it's real or not when you're against that kind of person, you're wasting your time because they're as close minded as they can be. Such a sad thing that this kind of thing happens to someone because that money you'd be losing is going to hurt really bad when you look back into it and the regret that you're going to get is going to be really bad that you might think worse things, maybe the help wasn't there for that person that they weren't able to get out of that pit that they call an addiction, it's a sad and pathetic life to be had but hopefully those people realize it and try to get out of that addiction as soon as they can, change in your life will never be too late until your heart stops beating after all.

[Rabata]

Someone with such business that worth 127M what is he looking for from gamble, because I would not say that he is gambling for fun due to the amount of money he stakes  and the length of hours he spends gambling in a casino. Addiction is bad for all, especially the wealthy ones, as they will loss everything and remain a puppa.

Addiction is like a plague and that is what every gambler should put in mind that gambling is a game that you must lose, no matter how much money you have or you use to gamble, and no matter how long you spend in the casino, it doesn't change anything and this is why we need to gamble responsible by using only the amount that we can let go after having fun with our bets. Gamble with caution to avoid getting wrecked due to addiction.

Addiction to gambling spells disaster for any type of gambler. But more disasters are brought by those who expect more from gambling. It is not difficult to imagine how deadly the gambling addiction is for a person who knows how to bet with 127 million. Gamblers who only care about winning don't know how bad their situation can be if they lose. They do not follow any rules of gambling. Gamblers are advised not to think of gambling as a money-making scheme, but those gamblers ignore it. Although many people own huge amounts of money by such aggressive betting, at some point the gambler will lose all his money. If the wealth built up after years of hard work and is lost in a moment then not everyone has the fortitude to bear it.

[Dave1]

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.

Yes, I have read about his stories, one of the richest person before his time. But he then fall into addiction and become one of the biggest loser and If I'm not mistaken, he sued the casino as well because they fueled this gambling addiction by giving him everything.

And it just shows that no matter how much money you have in the world, you are going to lose that in gambling if you don't have control. But at least he had his family to help him out to recover.

[Yaunfitda]

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/

Its wild to me that people who already have all the money they could need in the world still turn to entertainment in this form. Surely there are other forms of entertainment that are affordable, especially if you're a multimillionaire! This man lost his focus, and therefore he lost his life. It just goes to show you that if you lose focus of your business and life and turn to forms of addiction you will lose it all! Temptations, pleasures, money, its all fleeting. What is sure to stick is the proper character when focused on with sheer discipline and restraint. When you work hard and sacrifice, this is what will keep the rich richer & even turn the poor man turn into a rich one.

Yeah, it's really hard to imagine people that are rich going to fall into gambling addiction like this stories. I mean they have all the money in the world, and yet he decided to go and try to test gambling and then we went on a gambling binge and he realized what he had done until it's too late. So just imagine what went wrong with this guy, or for us average gamblers who loses money and then the next day we are affected by it. And I don't think that anyone should go into this experience as it is frustrating for him but hopefully he is doing ok now.

[Lanatsa]

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/

Its wild to me that people who already have all the money they could need in the world still turn to entertainment in this form. Surely there are other forms of entertainment that are affordable, especially if you're a multimillionaire! This man lost his focus, and therefore he lost his life. It just goes to show you that if you lose focus of your business and life and turn to forms of addiction you will lose it all! Temptations, pleasures, money, its all fleeting. What is sure to stick is the proper character when focused on with sheer discipline and restraint. When you work hard and sacrifice, this is what will keep the rich richer & even turn the poor man turn into a rich one.

Yeah, it's really hard to imagine people that are rich going to fall into gambling addiction like this stories. I mean they have all the money in the world, and yet he decided to go and try to test gambling and then we went on a gambling binge and he realized what he had done until it's too late. So just imagine what went wrong with this guy, or for us average gamblers who loses money and then the next day we are affected by it. And I don't think that anyone should go into this experience as it is frustrating for him but hopefully he is doing ok now.

There's no such thing about unlimited fund on which no matter how wealthy you are on which there would really be that a tendency that you would be losing it all.It might not be instant but on the moment that you would really be continuing on playing ambling which sooner or later you would really be sleeping on the streets. Gambling loses could really be that limitless on which it would really make that a rich man would be sleeping on the streets on the moment that they wont really be that having that good moderation or control towards their gambling activity. We've seen those people who are really that sitting on the top
but ended up on losing everything because they cant really be able to control themselves on playing on which this is where most gamblers do really end up and its not new or shocking anymore.

Gambling should really be just that for fun but when people are really that confident because they do know that they do have tons of money on which they could play as much as they can.
They would really be that only mindful on the moment or time that they would really be experiencing hardship because on the moment that they do still have money. Regrets do always come at the end
and if you are really that careless when you do play gambling then theres no doubt that you would really be ending up on this kind of condition, but if you are someone whose
really that responsible and wary on the actions you are making then there's no way that you would be ending up yourself on a disaster but of course its easy to be said that done but
its not impossible.

[ethereumhunter]

Yeah, it's really hard to imagine people that are rich going to fall into gambling addiction like this stories. I mean they have all the money in the world, and yet he decided to go and try to test gambling and then we went on a gambling binge and he realized what he had done until it's too late. So just imagine what went wrong with this guy, or for us average gamblers who loses money and then the next day we are affected by it. And I don't think that anyone should go into this experience as it is frustrating for him but hopefully he is doing ok now.

That could happens to rich people who gets into addiction because people can gets tempts with gambling easily and that can makes them forget with their limitations instead will still playing gambling to chase the next wins. But that doesn't easy as gambling will not gives them money like they wants so they must realizes that even for rich people, they will not have a big chances to makes money. If rich people doesn't realizes about that, they are fool because they have a lot of money that they can use for many things, including makes a business that can produce money but they use a wrong way to chase the wins from gambling. That will only makes them lose much money and sooner or later, their money will be gone fast and they will regrets when they see what happens to them.

[jossiel]

Simple but meaningful.

The effect of it can really make someone deal with poverty. Because if you know how to make riches, you're not going to spend it randomly on gambling.

It's okay to gamble but you're going to protect your wealth and you're not going to the point of your life that you can afford to lose them all.

Of course the impact resulting from gambling will certainly make someone lose all their wealth if they cannot control their gambling activities and what is worse is that they have a lot of debt out there of course this will put them in problems that are difficult to solve and for some people who understand well the difficulty of earning money, of course they will not spend more of their money on gambling and they will gamble according to the money they can afford and remain in good self-control.

To be able to protect our wealth, of course we have to be able to control the gambling activities we do and not gamble too often and limit the funds they use for gambling, but this is very difficult for some people who have experienced an addiction to gambling.

It's hard to accept that honestly when you're able to build your business empire and they have been stable. But with single triggered ness and you're able to let your emotions control you.

All of it are going to be gone on an instant and your life is going down hill instantly.

Plus, you're going to have debt after that so it's hard to imagine that someone who's too good with his business goes to that with a single mistake but done repetitively.

[Eternad]

Yeah, it's really hard to imagine people that are rich going to fall into gambling addiction like this stories. I mean they have all the money in the world, and yet he decided to go and try to test gambling and then we went on a gambling binge and he realized what he had done until it's too late. So just imagine what went wrong with this guy, or for us average gamblers who loses money and then the next day we are affected by it. And I don't think that anyone should go into this experience as it is frustrating for him but hopefully he is doing ok now.

People with alcohol problem and other social anxiety problems which is common to rich people can be an easy prey from casino trap. Physical casino like Caesar Palace usually invite high rollers like in the subject by different benefits and let them sober with alcohol while playing since they knew that rich people can easily out of control with their money since they think they have a lot in the bank.

Once rich people already have a taste of gambling pleasure. It’s very easy now for the casino to lure them to play further by offering different benefits whenever the player lose.

Also his family problem play an important part on how he ended up on gambling rather than spending his cash wisely.

[piebeyb]

And it just shows that no matter how much money you have in the world, you are going to lose that in gambling if you don't have control. But at least he had his family to help him out to recover.

Yes, that's the risk when someone gambles, they have to be willing to lose all their money if they can't control it because gambling addiction is difficult to cure, although there may be a role for family or parents to help them recover, but it's also not as easy as imagined, it all has to be a process from oneself. To recover from a gambling addiction is quite difficult, that's why don't ever think that gambling can make you a lot of money and can make you rich in an instant, it's definitely impossible to get it, let alone win against the dealer.

Make gambling just for fun and entertainment because if you are serious about making money that is not the right goal, gambling must be done with the awareness that it is not a place to make a profit, let alone a source of income, what you say is true, isn't it? no matter how much money we have, we will eventually run out and go bankrupt, if we gamble, we cannot control the gambling we play well, because it is difficult to win against the dealer, be wise to gamble with a different mindset, namely to have fun and just for entertainment. not for money.

[Gheka]

There is a very good proverb: “Greed leads to poverty.” Very well said, in my opinion. Most smart investors and businessmen become more conservative as their capital grows. And this is quite rational behavior: in fact, why risk most of your capital when you are already rich and will have enough money for the rest of your life? But, apparently, this is a special form of gambling addiction. So to speak, the gambling addiction of rich people who go crazy with their money.

Simple but meaningful.

The effect of it can really make someone deal with poverty. Because if you know how to make riches, you're not going to spend it randomly on gambling.

It's okay to gamble but you're going to protect your wealth and you're not going to the point of your life that you can afford to lose them all.

Of course the impact resulting from gambling will certainly make someone lose all their wealth if they cannot control their gambling activities and what is worse is that they have a lot of debt out there of course this will put them in problems that are difficult to solve and for some people who understand well the difficulty of earning money, of course they will not spend more of their money on gambling and they will gamble according to the money they can afford and remain in good self-control.

To be able to protect our wealth, of course we have to be able to control the gambling activities we do and not gamble too often and limit the funds they use for gambling, but this is very difficult for some people who have experienced an addiction to gambling.

Yes, crazy debts with constant phone calls, it's rare to get encouragement from someone and the addict's presence is erased, in some cases actively ending this misfortune, economic crisis comes with mental pressure, these are the diseases of the century for gambling addicts and the number of people recovering is too low. In general, money management and how to preserve money from being wasted are really important, whether rich or poor, gambling is always flexible to turn entertainment purposes into richer purposes, therefore, every step in gambling always requires increased awareness and avoidance

[Winterfrost]

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/

Its wild to me that people who already have all the money they could need in the world still turn to entertainment in this form. Surely there are other forms of entertainment that are affordable, especially if you're a multimillionaire! This man lost his focus, and therefore he lost his life. It just goes to show you that if you lose focus of your business and life and turn to forms of addiction you will lose it all! Temptations, pleasures, money, its all fleeting. What is sure to stick is the proper character when focused on with sheer discipline and restraint. When you work hard and sacrifice, this is what will keep the rich richer & even turn the poor man turn into a rich one.

Yeah, it's really hard to imagine people that are rich going to fall into gambling addiction like this stories. I mean they have all the money in the world, and yet he decided to go and try to test gambling and then we went on a gambling binge and he realized what he had done until it's too late. So just imagine what went wrong with this guy, or for us average gamblers who loses money and then the next day we are affected by it. And I don't think that anyone should go into this experience as it is frustrating for him but hopefully he is doing ok now.

It is really weird to see such a business man who had such fortunes becomes a victim of such wrong attitude to gambling, if it was just for mostly the fun then he stepped too far and getting drunk yet still gambling, I feel really sorry for him then. What if he never regained everything he lost, maybe he would still be in extreme poverty. Many who would fail to learn from others mistakes will learn by experience and may not be lucky to regain back his wealth like he did.

[dansus021]

wager a whooping 825M $ in just a single year when he lose that 127M. what a joke is this I mean this is crazy 800 Million this is in US dollar right that a lot of money you can buy anything frenn  so he basically loss 127 Million from the gambling addiction I mean 127 Million USD can be used in a lot of thing including buy a nice house and even can live happily without work with wife and kids.

So what happened with him right now is the company went bankrupt after this news comes out?

[Dr.Bitcoin_Strange]

It is really weird to see such a business man who had such fortunes becomes a victim of such wrong attitude to gambling, if it was just for mostly the fun then he stepped too far and getting drunk yet still gambling, I feel really sorry for him then. What if he never regained everything he lost, maybe he would still be in extreme poverty. Many who would fail to learn from others mistakes will learn by experience and may not be lucky to regain back his wealth like he did.

In gambling, if you don't learn how to control your urges, regret will come after you have lost everything you had, which is usually at the end. Gambling is a choice, and addiction is also a choice that an individual makes when they stop listening to their conscious mind. The moment someone starts developing symptoms of compulsive gambling, they will always be aware of it, but when they become ignorant of their lifestyle, they will become addicted. This man who lost his fortune in three years can only get it back if he stops gambling and faces other better sources of income, and depending on how long it took him to create a huge wealth, it will definitely take him a long time to become rich again.