Losing all your fortune with just 3 years

[Oilacris]

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/

This story should be a lesson to others for them to under stand that you can still get broke even with big bank rolls at a casino but many would think because you have got a huge bank roll the chances you get broke are almost impossible until they see it happen or probably have a first hand experience of what it feels like having such huge amounts and still ending up loosing it at some point. ordinarily we would want to think that with such huge amount in your wallet or bank roll you would have more chance and multiple trials that will eventually means you are going to get lucky before you exhaust all of it.

Or simply there's no such thing about unlimited bankroll and this is something that you should really be putting up your mind on which on the moment you do find yourself having that kind of confidence on the moment that you do play gambling.
Come to think that even those multi millionaire did end up on sleeping on the streets just because of losing everything they do have in gambling because of too much playing.When it comes into potential devastation then this is something to be that endless.Gambling could really that make you sleep on the streets if you don't make yourself having no control towards your spending.This is why, it would really be that important that you should really know on how to manage yourself on such conditions or situation because gambling could wreck up your life no matter how rich you are.

[nimogsm]

Seeing news like this makes me surprise how some people can be so addicted to gambling and despite many loses they never back out and keep losing again and again. This is a sad story and a pitiful one for the person in question. Going from riches to nothing is the most painful experience you can come through while living your life. What you intended to do to make you more money, end up making you lose all of your hard earned money over the years, that’s so sad and regretful in my opinion. The next happening of such situation is that the victim has committed suicide since they can’t afford to contain themself through the emotional damage they’ve caused themselves, I hope his is not the case.

greed and stupidity are the best allies to start losing systematically. If a player is haunted by a long series of losses, then it’s definitely worth taking a break, preferably for a long time, in order to restore the nervous system and not make mistakes, since it’s definitely not worth sitting down to play on heightened emotions. It’s a pity not all of this understand.

[Huppercase]

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/

It's either the person is a mentally challenged person or there is something wrong with him. Who goes to the casino drunk to go and blow his entire wealth on gambling? That's too silly, maybe I'm the only one but I haven't seen a gambler that drink to stupor, the ones I have seen are smokers and do it codedly in a mature way that it doesn't distract them from playing and those ones are always seeing at the VIP table well composed and ready to play to win and not stupid.

I'm still in doubt about this figures, anybody with this kind of fortune wouldn't go to casino alone, will probably have a bodyguard or a friend in crime to gamble, it wouldn't be possible for someone with this ricuness to lose everything he has so far. I pray that when I a certain wealth, I don't act stupid but be highly respected. My mind is telling me that guy didn't work hard for that money, I might be wrong but this is what I suspect.

[KTChampions]

^

I'm sure the main reasons for this irresponsible behavior are gambling addiction and alcohol. But it is not quite clear to me why this person did not find the strength to seek help from specialists. After all, as I understand he had enough time between gambling sessions to analyze his behavior, make some conclusions and take measures in time. Instead of fighting with gambling addiction he continued to play gambling games pouring alcohol on his failures. Very irresponsible behavior in my opinion.

I am 100% sure that these are far from the main reasons and not reasons at all, these are consequences of other things that happened to him (maybe a tragedy in the family or something else). The owner of a multi-million dollar business is obviously a disciplined, rational person who has seen a lot in life. If he had been exposed to alcohol or unreasonable risks, then he simply would not have achieved what he achieved. The part of the story that we learned is only part of some other story that led him to this.

[madnessteat]

^

I'm sure the main reasons for this irresponsible behavior are gambling addiction and alcohol. But it is not quite clear to me why this person did not find the strength to seek help from specialists. After all, as I understand he had enough time between gambling sessions to analyze his behavior, make some conclusions and take measures in time. Instead of fighting with gambling addiction he continued to play gambling games pouring alcohol on his failures. Very irresponsible behavior in my opinion.

I understand what you mean above, and maybe I will say a little about one of the reasons why irresponsible gamblers or those who are already addicted do not take various actions that lead to seeking help to divert their approach to the straight path towards gambling , and in my opinion that's because they don't take any action to find a solution which is most likely due to their still quite high interest in winning so that their focus is diverted, instead of carrying out self-evaluation to realize mistakes but they always take victory as something that must be prioritized in his mind, so maybe this is what makes it always difficult for an addicted or irresponsible gambler to divert himself to the right path.

I think that this is not about the interest in winning, the point is that the gambler is afraid to admit to himself that he has a gambling addiction, and therefore he denies the existence of the problem. And therefore there is no need to fight gambling addiction. In addition, almost any gambler is well aware of how much money lost after an unsuccessful gambling session even without analyzing their actions.

I after each major loss did not return to gambling for months trying to understand myself and my thoughts. How a person lost so much money in such a short period of time for me remains incomprehensible. 

[Jody.Drummer]

^

I'm sure the main reasons for this irresponsible behavior are gambling addiction and alcohol. But it is not quite clear to me why this person did not find the strength to seek help from specialists. After all, as I understand he had enough time between gambling sessions to analyze his behavior, make some conclusions and take measures in time. Instead of fighting with gambling addiction he continued to play gambling games pouring alcohol on his failures. Very irresponsible behavior in my opinion.

I am 100% sure that these are far from the main reasons and not reasons at all, these are consequences of other things that happened to him (maybe a tragedy in the family or something else). The owner of a multi-million dollar business is obviously a disciplined, rational person who has seen a lot in life. If he had been exposed to alcohol or unreasonable risks, then he simply would not have achieved what he achieved. The part of the story that we learned is only part of some other story that led him to this.

Logically, yes, I quite agree with your opinion above that I am not sure that this problem or incident happened to that person who is a billionaire or someone who has succeeded in achieving financial freedom in his life as a reward for all the hard work he has done over the years. he live.

Because basically people who succeed in achieving financial freedom in their lives, like billionaires, are those who have a strong level of discipline and also have an unusual mindset, in the sense that they always think about things that are impossible or impossible for normal people in their lives. It's a matter of determining their dreams, but they succeeded in achieving their dreams, where this success was due to strong intentions and determination as well as really knowing how to manage money properly and correctly, meaning that I think it is quite unlikely for these people to experience significant setbacks. like this, in the sense that I don't believe they would foolishly risk all the wealth they have worked for.

[ethereumhunter]

greed and stupidity are the best allies to start losing systematically. If a player is haunted by a long series of losses, then it’s definitely worth taking a break, preferably for a long time, in order to restore the nervous system and not make mistakes, since it’s definitely not worth sitting down to play on heightened emotions. It’s a pity not all of this understand.

Both greed and stupidity will makes us lose our money without takes too long and we will not realizes of what we do. That happens to many people who can't control themselves and only wants to pursuit the wins without thinks that they already lose some money. If they lose some money, it is better they take a break and thinks what they already do and quit gambling will be the right decision.

We can lose everything we have if we can control ourselves and becomes gambling addiction so that is why we must have good self control and other things to avoids us from the bad experiences. When we see what happens to some people that we knows, we must be careful when playing gambling and not break our limitation in gambling so we can prevents the big lose.

[mirakal]

greed and stupidity are the best allies to start losing systematically. If a player is haunted by a long series of losses, then it’s definitely worth taking a break, preferably for a long time, in order to restore the nervous system and not make mistakes, since it’s definitely not worth sitting down to play on heightened emotions. It’s a pity not all of this understand.

Both greed and stupidity will makes us lose our money without takes too long and we will not realizes of what we do. That happens to many people who can't control themselves and only wants to pursuit the wins without thinks that they already lose some money. If they lose some money, it is better they take a break and thinks what they already do and quit gambling will be the right decision.

We can lose everything we have if we can control ourselves and becomes gambling addiction so that is why we must have good self control and other things to avoids us from the bad experiences. When we see what happens to some people that we knows, we must be careful when playing gambling and not break our limitation in gambling so we can prevents the big lose.

Addiction and greed had nothing to do good in our lives but just ridiculous things and financial crises. I couldn't recall how much I lost in the past day when I was just about to learn to gamble. I thought that winning was too easy because some people showed it on social media winning the jackpot prize too quickly. So I tried and luckily won but because I was too greedy and aiming for more winning, I increased my capital unfortunately, things have changed, not a single bet I won anymore. Too late to realize that emotions will make you lose more if you lose control of it. If we may win today, we can't assume that we could still win tomorrow because there is naturally no assurance for such a thing.

[pawanjain]

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 was obviously due to removing all restrictions and allowing high rollers to play limitless.
Usually they keep a maximum limit so that users don't lose money out of their league.
If they would have implemented the same then the user wouldn't have lost in millions per day.

[KTChampions]

I am 100% sure that these are far from the main reasons and not reasons at all, these are consequences of other things that happened to him (maybe a tragedy in the family or something else). The owner of a multi-million dollar business is obviously a disciplined, rational person who has seen a lot in life. If he had been exposed to alcohol or unreasonable risks, then he simply would not have achieved what he achieved. The part of the story that we learned is only part of some other story that led him to this.

Logically, yes, I quite agree with your opinion above that I am not sure that this problem or incident happened to that person who is a billionaire or someone who has succeeded in achieving financial freedom in his life as a reward for all the hard work he has done over the years. he live.

Because basically people who succeed in achieving financial freedom in their lives, like billionaires, are those who have a strong level of discipline and also have an unusual mindset, in the sense that they always think about things that are impossible or impossible for normal people in their lives. It's a matter of determining their dreams, but they succeeded in achieving their dreams, where this success was due to strong intentions and determination as well as really knowing how to manage money properly and correctly, meaning that I think it is quite unlikely for these people to experience significant setbacks. like this, in the sense that I don't believe they would foolishly risk all the wealth they have worked for.

The opening post literally says that this happened to a big businessman and that he lost $127 million. Yes, apparently he is not a billionaire, but he is definitely a multimillionaire, since the lost 127 million indicates that his business was worth more than this amount. No business can survive if you take out all of its capitalization; it is fashionable to assume that its business was worth 0.4-1 billion.
By the way, I don’t think everything is fatally bad for him - if he overcomes his bad habits, he will be able to start a new business or work as a CEO with a huge salary and bonuses.

[mammusu]

^

I'm sure the main reasons for this irresponsible behavior are gambling addiction and alcohol. But it is not quite clear to me why this person did not find the strength to seek help from specialists. After all, as I understand he had enough time between gambling sessions to analyze his behavior, make some conclusions and take measures in time. Instead of fighting with gambling addiction he continued to play gambling games pouring alcohol on his failures. Very irresponsible behavior in my opinion.

Yes, he should have realized quickly what was happening to him before he lost everything he had. With that much money, someone should also know about his gambling activities, because it would be impossible if no one close to him knew what he was doing, especially if he had a lot of money. Did the people who knew about it not try to give him some kind of advice? or indeed they are the ones who actually encourage themselves to continue playing until their money is completely gone.

Gambling is something that will make a person addicted, especially if it is done while consuming alcohol which will disturb his consciousness. When his consciousness is disturbed and he gambles, self-control will disappear completely. So he will continue playing as long as he still has money. I don't think he did this just once, I mean when he played he was always under the influence of alcohol. However, logically he will be aware when he is at home and that should encourage him to consult an expert.

[criptoevangelista]

Yes, he should have realized quickly what was happening to him before he lost everything he had. With that much money, someone should also know about his gambling activities, because it would be impossible if no one close to him knew what he was doing, especially if he had a lot of money. Did the people who knew about it not try to give him some kind of advice? or indeed they are the ones who actually encourage themselves to continue playing until their money is completely gone.

Gambling is something that will make a person addicted, especially if it is done while consuming alcohol which will disturb his consciousness. When his consciousness is disturbed and he gambles, self-control will disappear completely. So he will continue playing as long as he still has money. I don't think he did this just once, I mean when he played he was always under the influence of alcohol. However, logically he will be aware when he is at home and that should encourage him to consult an expert.

That's what I was thinking too. Did the family not notice? or even close friends? because it's not possible for him to melt millions of dollars and no one notice... he didn't lose it overnight, it all happened at a certain time... someone should have noticed and tried to avoid it, no matter how difficult it may seem to deal with with addicts.

[Hispo]

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 was obviously due to removing all restrictions and allowing high rollers to play limitless.
Usually they keep a maximum limit so that users don't lose money out of their league.
If they would have implemented the same then the user wouldn't have lost in millions per day.

It would be controversial, depending on what country of jurisdiction was supposed to be applied on. Meeting a ceiling of maximum wager for high rollers would be translated to setting a ceiling to the earnings and profits of casinos. Time it would be more favourable in terms of morality for gamblers to be fully aware and not drunk while gambling, to make them understand the degree of the risks and the potential consequences on their lives.
Ironically, it would be like setting a ceiling on the amount of beers or the numbers of cigarettes people is supposed to consume, at least, in countries like the United States, those laws could be perceived as an direct attack on the basic rights of each citizens.

Though, I am not against increasing awareness on problem gambling.

[HelliumZ]

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/

It's very sad but to me it seems stupid why he would have to pay so much gambling losses despite owning so much wealth. He couldn't stop himself despite losing so much in the bet that I think he has a mental disorder. Rich gamblers are usually addicted to gambling for pleasure but I don't understand why this rich man got addicted to gambling. But the man is a complete fool, it must be admitted, because such a large amount of wealth has been repeatedly gambled away despite losing the bet.

[Dewi Aries]

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/

It's very sad but to me it seems stupid why he would have to pay so much gambling losses despite owning so much wealth. He couldn't stop himself despite losing so much in the bet that I think he has a mental disorder. Rich gamblers are usually addicted to gambling for pleasure but I don't understand why this rich man got addicted to gambling. But the man is a complete fool, it must be admitted, because such a large amount of wealth has been repeatedly gambled away despite losing the bet.

Even though yes, this is an action that should not be carried out by someone who has a fairly good mindset because he succeeded in making himself rich, but I would say that humans are social creatures, at certain times they can fall into various bad things which Most likely this is caused because their level of consciousness begins to decline so that they are carried away by the current accompanied by emotional encouragement.

Or another possibility is that maybe they gambled at the wrong time, such as gambling when they were experiencing problems in their family or business matters, where it is very possible for them to respond to everything based on their own emotions, and maybe this is what made them experienced quite a large loss that he should not have experienced. On the other hand, yes, I also know that usually rich people only use gambling as a place to have fun to fill their time, but of course nothing is impossible, in the sense that there is always the possibility for them to get caught up and carried away on the wrong path and usually this is caused by a decreased level of awareness in this situation.

[Wakate]

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/

Could this be seen as ordinary is this story is actually true? Sometimes I just wondered why someone would want to gamble so hard that they would be ready to lose up to a million dollars. Gambling addiction is one of the problems many gamblers are facing and we need to be wise and keep working hard to earn from jobs we are doing rather than depending on gambling to earn a living. It is quite interesting to listen to stories like this and I see it as an eye opener for us to learn from others mistakes so we don't indulge in such an that could make us a loser.

[Ultegra134]

Could this be seen as ordinary is this story is actually true? Sometimes I just wondered why someone would want to gamble so hard that they would be ready to lose up to a million dollars. Gambling addiction is one of the problems many gamblers are facing and we need to be wise and keep working hard to earn from jobs we are doing rather than depending on gambling to earn a living. It is quite interesting to listen to stories like this and I see it as an eye opener for us to learn from others mistakes so we don't indulge in such an that could make us a loser.

It sounds true to me; I even went ahead and searched to find more information, and there are plenty of websites mentioning it as well; thus, it's probably true. It's astonishing to see how people behave in casinos. The article mentions that he was basically living inside the casino 24/7, using slots or playing roulette for 24 hours straight, no breaks. He lost as much as 5 million dollars in one day, or 127 million dollars in a year. He made almost $1 billion worth of bets, $825 million to be exact, which is about the equivalent of the GDP of the British Virgin Islands.

[erep]

It's very sad but to me it seems stupid why he would have to pay so much gambling losses despite owning so much wealth. He couldn't stop himself despite losing so much in the bet that I think he has a mental disorder. Rich gamblers are usually addicted to gambling for pleasure but I don't understand why this rich man got addicted to gambling. But the man is a complete fool, it must be admitted, because such a large amount of wealth has been repeatedly gambled away despite losing the bet.

Agreed, it was very stupid to take all the wealth in gambling, he had lost control could not set betting limits and he was gambling following the flow of emotions because he had lost a lot of money and he wanted all the losses to be recovered in one bet. He didn't think about the risk of the next loss, as a result he has lost all the money he has and we don't know what his fate will be now, maybe he is experiencing depression and stress. We have been reminded in various threads to gamble by setting limits and gambling responsibly so that you don't experience high losses and you can enjoy gambling without getting emotional and addicted.

[Forsyth Jones]

What makes someone who is already a millionaire want to bet not just part of their fortune, but their entire fortune on gambling? Seriously, it would be better if he himself invested/opened a casino company and since he owns the casino, he could make profits from his customers.

[DaNNy001]

Seeing news like this makes me surprise how some people can be so addicted to gambling and despite many loses they never back out and keep losing again and again. This is a sad story and a pitiful one for the person in question. Going from riches to nothing is the most painful experience you can come through while living your life. What you intended to do to make you more money, end up making you lose all of your hard earned money over the years, that’s so sad and regretful in my opinion. The next happening of such situation is that the victim has committed suicide since they can’t afford to contain themself through the emotional damage they’ve caused themselves, I hope his is not the case.

greed and stupidity are the best allies to start losing systematically. If a player is haunted by a long series of losses, then it’s definitely worth taking a break, preferably for a long time, in order to restore the nervous system and not make mistakes, since it’s definitely not worth sitting down to play on heightened emotions. It’s a pity not all of this understand.

The thing is that sometimes when the loses starts coming the human brain 🧠 is so stressed that it can't even think of stoping and it only takes a well trained person to stop the programing. That's why they are so many gamblers out there that have fell victims to addiction of not stopping when they are losing and for some gamblers it takes just a simple lose for them to continue the chase of that little funds they have lost.