Losing all your fortune with just 3 years

[wheelz1200]

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 isn't an uncommon story this happens all the time.  Problem is when people get a lot of money but aren't used to having that much they don't know the perils of how easy it is to lose.  By the time you figure out you shoukd stop you are in full addiction mode.  It's sad to see honestly because of how hard it is to get that money in the first place.

[Orpichukwu]

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.

When someone is addicted to gambling, we can all say that the person is no longer himself; they are no longer able to control how they place the amount they spend, and when they can call it a stop, when they have gotten to that stage of becoming addicted to the game, they do whatever is necessary just to make sure that they feed their urge to gamble, which is the way most of these rich people run into big debt more than their net worth. 

[DaNNy001]

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 isn't an uncommon story this happens all the time.  Problem is when people get a lot of money but aren't used to having that much they don't know the perils of how easy it is to lose.  By the time you figure out you shoukd stop you are in full addiction mode.  It's sad to see honestly because of how hard it is to get that money in the first place.

They say money easily gotten can be easily spent too and that's what so many gamblers believe too and this has lead to many gamblers actually losing out from their first original money they use in gambling. Sometimes when the win comes the entire mindset changes and this is never positive when you are gambling. Sometimes you might even end up regretting and blaming yourself.

[AliMan]

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 unfortunate to read this kind of situation, most probably that's the worst decision that person has made in his life. That fortune is worth spending for his entire life and yet it just wasted for this gambling possession that isn't controlled. Wagering 825M $ within that year isn't normal for an average gambler, maybe a rich person can only do that but we should bare in mind that money is really an important thing to treasure. Let's always be careful on our decisions, don't let our desires go beyond limits because when you can't manage losses is always your biggest nightmare in life when you did gambling in a wrong way.

[adultcrypto]

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.

When someone is addicted to gambling, we can all say that the person is no longer himself; they are no longer able to control how they place the amount they spend, and when they can call it a stop, when they have gotten to that stage of becoming addicted to the game, they do whatever is necessary just to make sure that they feed their urge to gamble, which is the way most of these rich people run into big debt more than their net worth.

Gambling addiction is something to be avoided by all means because it does not always yield good results. The caption the op gave is something that can happen faster than that. A hardened addicted gambler can get himself destroyed in just few months. I have seen gamblers lose that big so, addiction is as bad as that. Attributes such as chasing loses, gambling when not in a stable state of mind and other negative attributes are confirmation of gambling addiction.

[junder]

Gambling addiction is something to be avoided by all means because it does not always yield good results. The caption the op gave is something that can happen faster than that. A hardened addicted gambler can get himself destroyed in just few months. I have seen gamblers lose that big so, addiction is as bad as that. Attributes such as chasing loses, gambling when not in a stable state of mind and other negative attributes are confirmation of gambling addiction.

I agree with you, indeed when they gamble, of course there is a feeling of wanting to chase victory and of course that will make them addicted. when they are trapped in gambling and become addicted, of course they will not get out easily, they will continue to gamble and they can even experience the destruction of their lives faster than just a few months, this happened to my neighbor who was a taxi driver and when he was addicted he lost everything including his wife who left him because she was probably fed up with his behavior and had sold all the property she owned just to get money and do the gambling she wanted. This happened so quickly in just a few months. Addiction is not a trivial thing, this is a serious problem that can make someone experience life ruin in just a short time and it is not easy to cure because the problem is their thinking which is mental, not physical.

Many of those who become addicted are because of their wrong mindset or thinking, they think they can get the big win they want even though their gambling always ends in defeat, but that doesn't make them stop gambling, with their mindset that only thinks about winning, of course there is encouragement. to continue gambling even though they have experienced many losses. Apart from that, I'm sure there are many people whose lives are ruined in just a short time when they become addicted.

[Republikcoin.com]

When someone is addicted to gambling, we can all say that the person is no longer himself; they are no longer able to control how they place the amount they spend, and when they can call it a stop, when they have gotten to that stage of becoming addicted to the game, they do whatever is necessary just to make sure that they feed their urge to gamble, which is the way most of these rich people run into big debt more than their net worth. 

Gambling addiction can lead to poverty in everyone if there is no better control by ourselves. Because this can lead anyone to continue gambling on the pretext of wanting to return the amount of money he or she has previously bet in gambling. Because when someone doesn't win and still has money to bet, that's when he should stop by not prioritizing his desire to continue gambling in order to achieve a win where there is no guarantee at all.

[ethereumhunter]

When someone is addicted to gambling, we can all say that the person is no longer himself; they are no longer able to control how they place the amount they spend, and when they can call it a stop, when they have gotten to that stage of becoming addicted to the game, they do whatever is necessary just to make sure that they feed their urge to gamble, which is the way most of these rich people run into big debt more than their net worth. 

Gambling addiction can lead to poverty in everyone if there is no better control by ourselves. Because this can lead anyone to continue gambling on the pretext of wanting to return the amount of money he or she has previously bet in gambling. Because when someone doesn't win and still has money to bet, that's when he should stop by not prioritizing his desire to continue gambling in order to achieve a win where there is no guarantee at all.

If you have gambling addiction, you will wastes that money by playing gambling no matters how much money you have. You will not realizes and stops your gambling activities because you are very like to playing gambling and not thinks about yourself. You can't control how much money you should spends in gambling because the temptation from gambling will becomes bigger. That will makes you not stops your gambling habit until your money is gone.

Gambling addiction can lead to poverty and that is right because people will not care with their daily needs and only focus with their gambling activities. They don't see other activities can gives the positive effects to them and will not wants to do that activities because they only wants to playing gambling.

[bakasabo]

I am surprised, that a person, who has created such a business industry, has such poor relationships with family and friends, that they did not notice his gambling addiction and let him gamble for his all money. When a person managed to earn such a huge amount, build such a huge company, I find it suspicious that he was so reckless with money. By all scenarios, he should not have achieved all that, if he is so easy to take wrong decisions.

[EarnOnVictor]

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 isn't an uncommon story this happens all the time.  Problem is when people get a lot of money but aren't used to having that much they don't know the perils of how easy it is to lose.  By the time you figure out you shoukd stop you are in full addiction mode.  It's sad to see honestly because of how hard it is to get that money in the first place.

Money shouldn't be wasted regardless of how hard or easy the person gets it. If at all the person needs to waste money, it should be channelled to the right and honourable courses, after all, it will be productive that way. That's by the way. What is causing people to lose so much in gambling are many, so it can't be blamed easily on anything unless such a specific case is investigated, and we should not always be blaming it on the excess they have or the easiness of getting the money, it is not everyone who are victims of gambling got the money easily or have them in excess.

Some people would have had their life savings for decades and wasted it on gambling, while others may have a little money but wasted it on gambling, what can we call that? Well, it is complicated most times, but it still centres on emotions. Whether it's caused by fear, greed, depression, hobby, boredom or whatever we name it, they are still all about our psychology. This is why we should train our psychology for the unforeseen even if we are still not engaging in them yet.

"A prepared mind is an armed mind."

[Dewi Aries]

It's true, when someone is very addicted or even dependent on an activity then whatever prohibitions are placed on them will not have much of an effect because in the end they will always look for various ways that other people don't even think about in order to maintain their habit, which means as you say that the point is to return to themselves, because all control is within them.

Maybe I would say that it is a matter of time, there is always a possibility for them to experience a change to the right path even though we don't know how the process will go, but I am sure that in the end they will realize about their mistakes especially especially realizing that they have a different approach to gambling. This is wrong, which might reduce his interest in activities that were previously always a priority.

Everything matters about self control on which this one would really be that relevant or something that you do really need up to consider on the moment that you do find yourself dealing up  with gambling. You would definitely be making yourself having that issue on the time or moment that you had lost up so much money due to uncontrollable urge of doing gambling.On the moment that you do find yourself having that kind of approach towards gambling then you would definitely give out that huge effect towards you and this is something that must be avoided in the first place if you don't like to mess up your life especially in financial.

Yes, you could say that self-control is something that must be prioritized and possessed by a gambler, because one thing we must understand and remember is that gambling is a risky activity where the risk can be very high when a gambler falls in and gets carried away. current over a long period of time. So maybe I would say that if you are someone who is new to gambling then of course you must first understand what and how gambling actually is, use your common sense to think and consider, because basically in any case that will determine your fate. someday it will be your decision today.

I am sure that if from the start you use your rational mindset in dealing with gambling then you will understand what is meant by "chance of winning" and be aware of the high risks that can be caused, which indirectly this understanding will become a shield for you. which will keep you from being easily carried away by the current which ultimately leads you to a terrible cycle of addiction, everyone will never want to experience a downturn due to gambling, therefore we have to get on the right path if we want to survive in the long term

[LUCKMCFLY]

But on the other hand, let not also under-estimate what being addicted to gambling can do to any body, and this doesn't not really matter what level of financial education one has or has attained, addiction will simply criple the brain so bad that the person will completely forget how to manage money, the only thing he's gonna be thinking about is how to recover the money he lost to gambling yesterday, through same gambling, and when that tomorrow comes, they are still thinking same thing, "how to recover this or that", and they continue in this circle until all the money is gone.

Yes, you are right about that. I personally know that addiction is something that very few people have the strength to get out of. It is something very hard , it paralyzes the brain and does not let you think in a more measured way. It is a fact, I have never experienced it, but I do have a couple of friends who were addicts, and their family had to do many things, treatments, very large expenses to be able to get them out of that world. It is something hard, so much so that I don't know which is worse, if the addiction to gambling or the addiction to drugs. For me both have the toughest detoxification system in the world. This is something that has to be considered and you are absolutely right. Sometimes I think that to get out of addiction the person must be very, very strong Internally.

[TheUltraElite]

I am surprised, that a person, who has created such a business industry, has such poor relationships with family and friends, that they did not notice his gambling addiction and let him gamble for his all money. When a person managed to earn such a huge amount, build such a huge company, I find it suspicious that he was so reckless with money. By all scenarios, he should not have achieved all that, if he is so easy to take wrong decisions.

You know what? Shit happens. But the rich people often tend to misuse the money they have earned often having bad relationships with family and not giving them proper time to allow them to grow in a healthy manner.

The more a person is involved with risk taking the less healthy is their mindset going to be - because they take the risk trying to prove something when in reality nobody is asking them for that proof.

Definitely not the type of lifestyle choice an average person will have and neither should a rich person aim at.

[hahay]

When someone is addicted to gambling, we can all say that the person is no longer himself; they are no longer able to control how they place the amount they spend, and when they can call it a stop, when they have gotten to that stage of becoming addicted to the game, they do whatever is necessary just to make sure that they feed their urge to gamble, which is the way most of these rich people run into big debt more than their net worth. 

Gambling addiction can lead to poverty in everyone if there is no better control by ourselves. Because this can lead anyone to continue gambling on the pretext of wanting to return the amount of money he or she has previously bet in gambling. Because when someone doesn't win and still has money to bet, that's when he should stop by not prioritizing his desire to continue gambling in order to achieve a win where there is no guarantee at all.

For me, gambling addiction is different from drug addiction and thus, gambling addiction can basically be eliminated if the person is also aware of his/her finances that are getting worse. Because after all, for me it is not about addiction but they are only trying to get back the money that has been lost and thus, they will continue to gamble to get profit to cover all the losses. Thus, they will never succeed so they also become bankrupt because they have spent all their savings or wealth. So yes, in this case basically the person can stop if they realize that there is no chance to catch up on the losses and if they are aware, then of course it will be easy for them to stop gambling before everything is lost.

[Awaklara]

When someone is addicted to gambling, we can all say that the person is no longer himself; they are no longer able to control how they place the amount they spend, and when they can call it a stop, when they have gotten to that stage of becoming addicted to the game, they do whatever is necessary just to make sure that they feed their urge to gamble, which is the way most of these rich people run into big debt more than their net worth. 

Gambling addiction can lead to poverty in everyone if there is no better control by ourselves. Because this can lead anyone to continue gambling on the pretext of wanting to return the amount of money he or she has previously bet in gambling. Because when someone doesn't win and still has money to bet, that's when he should stop by not prioritizing his desire to continue gambling in order to achieve a win where there is no guarantee at all.

For me, gambling addiction is different from drug addiction and thus, gambling addiction can basically be eliminated if the person is also aware of his/her finances that are getting worse. Because after all, for me it is not about addiction but they are only trying to get back the money that has been lost and thus, they will continue to gamble to get profit to cover all the losses. Thus, they will never succeed so they also become bankrupt because they have spent all their savings or wealth. So yes, in this case basically the person can stop if they realize that there is no chance to catch up on the losses and if they are aware, then of course it will be easy for them to stop gambling before everything is lost.

unfortunately, the process of realizing this is sometimes a little late for gamblers. most gamblers realize that they cannot catch up on the losses they have experienced while gambling after their finances have collapsed. some even experience the destruction of their families and jobs because of gambling addiction.

I agree with you that gambling addiction is indeed different from drug addiction. and the process for rehabilitating both is certainly different. but the negative impacts of gambling and drug addicts I think are equally frightening.

[HONDACD125]

I agree with you that gambling addiction is indeed different from drug addiction. and the process for rehabilitating both is certainly different. but the negative impacts of gambling and drug addicts I think are equally frightening.

I would say the impact of gambling addiction is often greater than drug addiction, and I say this because when a person gets addicted to drugs, they usually ruin themselves only. Still, when someone gets addicted to gambling, they tend to destroy the whole direct family or people associated with them. Imagine a family man, having a wife and children and a good job, getting addicted to gambling, and very soon, everything is gone and they are left with nothing.

The aftereffects of gambling addiction are extremely frightening, less for the addicted person and more for the people getting affected because of it. The person who gets addicted will barely realize anything until it's all gone, but when it's gone and they see there is nothing left in front of them, I don't know what a person would feel in that situation.