Spanish Guy loses more than €500.000 in a crypto casino

[uneng]

I didn't read the full story of this Spanish guy but it seems a very stupid and childish behavior to risk all his life saving in gambling and think they he can make money from such acts. Such gamblers usually lose money and they are the ones, responsible for their losses. I wonder where is the mind and heart of people who take such big risks 

Even more childish is the fact he is now hiring a lawyer to claim the casino has to give him the money back, because it didn't have a license to allow spanish citizens to access the platform. If he had won and profit was coming in, he wouldn't go against the casino for that reason, but since he is into heavy debt, that is his personal vengence against the casino...

I feel it's not right what this gambler is trying to do, although at same time I also keep in mind he is a sick individual who needs help, and receiving back at least part of that total sum of lost money could pay for his treatment's costs.

[bitbollo]

If he think his rights have not been respected or the casino can provide assistance in the case, it is right for him to proceed.
I have no idea how to handle such situation by the way...

these stories are always very sad.
unfortunately in this case there Is a clear example also for other players even with huge amount.

[Saint-loup]

The guy seems to say he was playing at blackjack but I don't understand how you could lose such amount by playing at this game. He must be very bad at this game. It's insane. The house edge of the game is one of the smallest of all gambling games, slots and video casino games included. And blackjack counters are even able to reduce or overcome it. So if you don't gamble by taking risks you can't large amount of money. Anybody with a basic bankroll/risk management won't get very large losses at this game.

[entertheabyss]

If he think his rights have not been respected or the casino can provide assistance in the case, it is right for him to proceed.
I have no idea how to handle such situation by the way...

these stories are always very sad.
unfortunately in this case there Is a clear example also for other players even with huge amount.

We have huge amount to make but also, we have tangible Losses to make. We should understand how the space works and play our best to adapt to the system. Playing top games, it's very compulsory we should understand what exactly we're doing, understand the pressuring rise. Losses are made daily from the space, we should always know what's coming in for all of us.

[Poker Player]

Even more childish is the fact he is now hiring a lawyer to claim the casino has to give him the money back, because it didn't have a license to allow spanish citizens to access the platform. If he had won and profit was coming in, he wouldn't go against the casino for that reason, but since he is into heavy debt, that is his personal vengence against the casino...

I feel it's not right what this gambler is trying to do, although at same time I also keep in mind he is a sick individual who needs help, and receiving back at least part of that total sum of lost money could pay for his treatment's costs.

I think so too, he should take responsibility for what he has done, and what he should focus on is to solve the problem he has with gambling. Suing the casino can take a long time, with high costs and in the unlikely event that he wins something it will be a long time away.

A guy who first self-excluded himself from gambling platforms in his country, and then did everything he could to bypass his own self-exclusion until he lost €0.5M, his main goal should be to cure himself of the addiction he has. And in any case, if he wants to sue the casino, he should put it in the hands of lawyers and forget about it, because he will not hear from them for a long time.

[LFC_Bitcoin]

Casinos and Sports Books have responsible gambling practises in place, unfortunately somebody who is badly addicted to gambling will often find a way to circumvent limits and self exclusions.

I feel sad for the guy but it is nobodies fault but his own. He needs professional help to beat addiction. He can unfortunately blame nobody but himself for his situation.

[Dr.Bitcoin_Strange]

After reading this story, I could not just wrap my brain around the reason why the man keeps gambling. Whether it's for the sake of making profit or having fun. I always tell people that "it is wise to easily realize your self and give your self a better advice that moment you start doing things wrongly." There is no way that man can say that he was not aware that he was losing money often and would have learn his lesson, but it seems he was enjoying the losses. If only he has realized on time, he would not have lose so badly but it's good that he is now under medical care.

[Don Pedro Dinero]

This topic is very interesting Don Pedro Dinero. What strikes me most at first is the fact that a company owed him €500.000: in Spain, that's the salary of decades of work. On the other hand, I doubt he would have paid taxes, so for the amount in question it could even be a tax crime. I think the guy should think very carefully about what to do before making a move, it may be in his best interest to accept the loss, indeed.

Re-reading the thread, what the author says is that the company owed him that money in bitcoin years ago, I don't know, it sounds to me like a company that was hacked or something like Mt. Gox. So, the amount of bitcoin they owed him at that time was not so scandalous, but with the revaluation it has become more than half a million euros. So he's really screwed when it comes to paying taxes, because he's contacted official bodies and they're going to ask him for income tax, capital gains tax, or both. It's going to be a lot of money.

In the thread he says it was Rollbit, and another forum member says he had a similar experience with the same casino, albeit with much less money. I wouldn't put the blame exclusively on that casino because those of us who know about it know it's widespread. Many casinos put the list of banned countries on the ToS but turn a blind eye as long as the user is depositing and losing.

[Wapfika]

I am really curious about which casino the OP of that thread is talking about. Also, if the evidence he shared is sufficient enough, the casino that let him play because he is a big spender needs to be held accountable. the OP also needs to be accountable for his stupidity.

We are talking about crypto casino here that requires initial KYC to play which menas the casino doesn’t have a clue about the victim nationality unless he is using an Spanish IP when he is playing.

Casino will surely allowed players that is a high roller especially if the player is losing. I think the evidence he is using was the fact that he is addicted gambler that list himself for self exclusion on his country gambling regulator.

I doubt that he can put a crypto casino liable on his case since his self exclusion is just within his country while he plays on a casino outside his country jurisdiction without informing the casino with his nationality. He literally break the casino ToS.

[Casdinyard]

I would like to bring here a thread seen in a famous Spanish-speaking forum. I am going to translate part of the OP, but I would like to clarify first that throughout the thread the OP has clarified quite a few things and has provided evidence, so I, who have been in that forum for years, believe that the story is true.

~snip~

classic I told you so my friend. He knew well and is aware that he has a problem with gambling, and now instead of dealing with it with discipline and logic, he figured he should splurge and use up 2/3 of the money he has? That's just stupid lol. Although the way Spanish Guy's handling this after the breakthrough is actually smart. He added himself in the addicted list which means he is to not be given access to casinos no matter what, and now that he gained access and lost most of his money somebody else besides him has got to be accountable for what happened. Didn't see how that would work though, especially if the casino he's playing is initially banned in Spain, with which the Spanish guy would be caught to use a VPN.

I need more updates regarding this lol, I wanna find out what transpires next and see if Spanish guy's got a chance at getting some recompense for the money that he himself threw away.

[Porfirii]

I would like to bring here a thread seen in a famous Spanish-speaking forum. I am going to translate part of the OP, but I would like to clarify first that throughout the thread the OP has clarified quite a few things and has provided evidence, so I, who have been in that forum for years, believe that the story is true.

~snip~

classic I told you so my friend. He knew well and is aware that he has a problem with gambling, and now instead of dealing with it with discipline and logic, he figured he should splurge and use up 2/3 of the money he has? That's just stupid lol. Although the way Spanish Guy's handling this after the breakthrough is actually smart. He added himself in the addicted list which means he is to not be given access to casinos no matter what, and now that he gained access and lost most of his money somebody else besides him has got to be accountable for what happened. Didn't see how that would work though, especially if the casino he's playing is initially banned in Spain, with which the Spanish guy would be caught to use a VPN.

I need more updates regarding this lol, I wanna find out what transpires next and see if Spanish guy's got a chance at getting some recompense for the money that he himself threw away.

Well, I don't think we can blame on him, precisely because he has got a problem. Is like saying "he has got a problem with drinking and he drinks a bottle of tequila, that's stupid lol".

I think that we should be very respectful with those who have such a problem, instead of trivialize it.

[Questat]

We should learn from this story. This is what will likely happen to us if we don't gamble with what we can afford to lose. This amount may be too huge for most of us, but even if it's a lower amount, it can still negatively affect our lives. We should not let that happen.

They say we learn from our experiences, sometimes the hard way. Actually, it's not necessary to learn the hard way...just reflect on the stories and experiences of other gamblers and learn from them so we don't have to lose before we learn.

[wiss19]

This proves how gambling addiction escalates if it's not controlled on time. He started with low amounts and even self-excluded himself to stay away from gambling but that only worked for a short term and he started gambling again after some time. His story also teaches us that we shouldn't think that if we have a lot of money as our bankroll, we can manage to win or recover our losses if we try because that doesn't work in gambling.

I have seen a lot of people having this thought, they keep saying that they could win a lot of money if they had a high bankroll because that would give them a lot of opportunities and they would be able to recover what they might lose in the beginning but they don't realize that it isn't possible because if it was, a lot of people would be ultra-rich by now.

[Juse14]

We should learn from this story. This is what will likely happen to us if we don't gamble with what we can afford to lose. This amount may be too huge for most of us, but even if it's a lower amount, it can still negatively affect our lives. We should not let that happen.

They say we learn from our experiences, sometimes the hard way. Actually, it's not necessary to learn the hard way...just reflect on the stories and experiences of other gamblers and learn from them so we don't have to lose before we learn.

Let us take a lesson from this tale, an indication of what is apt to transpire should we fail to wager with losses we can bear. Even if seemingly meager, it could cast a negative pall over our lives; thus, the essence of betting within affordable losses cannot be overstated. While the quantum of loss is subjective and varies for each individual, its repercussions can universally be pernicious, let us pre-empt such an outcome.

It is said that we learn from experience, sometimes the hard way. But in reality, there is no need to learn the hard way at all. Simply ponder over the narratives and journeys of other bettors; extract wisdom from their tales and sidestep repeating their missteps. Thus, we can acquire knowledge without having to go through substantial losses beforehand.

[aioc]

The guy in the story is in the process of rehabilitation but he wants to get part of what he deposited to the casino which is not in his favor if he is my friend, I would advise him to concentrate on his rehabilitation first and not think anything related to gambling, until such time that he can think clearly and not tempted to play again before he negotiates with the casino.

His chances are not good once they restrict your account there is a violation but if you think you are clean then you can dispute it as 500 million Eur is not a small amount, but first win the addiction battle.

[Slow death]

I'm always very shocked when these people addicted to gambling lose everything and then blame the casino they were playing at, he knew from the beginning that he couldn't create an account at the casino because he is a Spanish citizen and the casino's TOS tells him prohibited, so when he says he hired a lawyer. What does he expect? Does he expect his lawyer to sue the casino and get all the money he lost back? he knows that the casino has a Curacao license, probably and that means that the casino is respecting the laws of Curacao, the guy lost money because he was irresponsible, and he will lose more money paying for a lawyer, paying for a plane ticket for him and the lawyer to travel to curacao, pay for a hotel in curacao and how many days or weeks or months does he intend to live in curacao until the end of the whole process? Because there are many levels of courts in Curacao, if he loses or wins the case in the court of first instance, the casino or he can appeal to the court of second instance and each trial takes a long time and this is very costly. I hope he focuses on curing his addiction to the doctor he is receiving treatment from and doesn't blame the casino for his illness

[Falconer]

I'm always very shocked when these people addicted to gambling lose everything and then blame the casino they were playing at, he knew from the beginning that he couldn't create an account at the casino because he is a Spanish citizen and the casino's TOS tells him prohibited, so when he says he hired a lawyer. What does he expect? Does he expect his lawyer to sue the casino and get all the money he lost back? he knows that the casino has a Curacao license, probably and that means that the casino is respecting the laws of Curacao, the guy lost money because he was irresponsible, and he will lose more money paying for a lawyer, paying for a plane ticket for him and the lawyer to travel to curacao, pay for a hotel in curacao and how many days or weeks or months does he intend to live in curacao until the end of the whole process? Because there are many levels of courts in Curacao, if he loses or wins the case in the court of first instance, the casino or he can appeal to the court of second instance and each trial takes a long time and this is very costly. I hope he focuses on curing his addiction to the doctor he is receiving treatment from and doesn't blame the casino for his illness

I have read the whole story in the OP, it says:

The thing is that I found one that did let me.

The only thing I fail to understand is, what was the purpose of him contacting the casino even if it was recommended by a lawyer. My guess is that he probably wanted to get a refund from the casino after losing so much, which means he didn't have any money left in his account. If this is true, then I don't think he will get what he wants from the casino. He should know what the risks of gambling are and he should be aware that the casino will not return his money after losing.

[Zadicar]

We should learn from this story. This is what will likely happen to us if we don't gamble with what we can afford to lose. This amount may be too huge for most of us, but even if it's a lower amount, it can still negatively affect our lives. We should not let that happen.

They say we learn from our experiences, sometimes the hard way. Actually, it's not necessary to learn the hard way...just reflect on the stories and experiences of other gamblers and learn from them so we don't have to lose before we learn.

Let us take a lesson from this tale, an indication of what is apt to transpire should we fail to wager with losses we can bear. Even if seemingly meager, it could cast a negative pall over our lives; thus, the essence of betting within affordable losses cannot be overstated. While the quantum of loss is subjective and varies for each individual, its repercussions can universally be pernicious, let us pre-empt such an outcome.

It is said that we learn from experience, sometimes the hard way. But in reality, there is no need to learn the hard way at all. Simply ponder over the narratives and journeys of other bettors; extract wisdom from their tales and sidestep repeating their missteps. Thus, we can acquire knowledge without having to go through substantial losses beforehand.

Actually this isnt a new thing anymore in regarding about gambling loses but rather its really just that like an ordinary day on which loses would really be something that devastative on the moment that you would really be having that lose control towards yourself because this is where people do usually mess up their lives at the moment that they will be making decisions on which they do really believing that gambling could give out that positive outcome into the moment that they would really be playing on it. We do know that there would really be a time that we do become that being delusional at the moment that we do really believe on that gambling could make us rich and this would really be the primary reason on why we do make ourselves that being delusional.

Loses could really be that sky is the limit basing up on the money that you could really be able to spend and if you are someone whose really that not good when it comes to self control
then expect that things would really be turn out to be shit.

[Fortify]

I would like to bring here a thread seen in a famous Spanish-speaking forum. I am going to translate part of the OP, but I would like to clarify first that throughout the thread the OP has clarified quite a few things and has provided evidence, so I, who have been in that forum for years, believe that the story is true.

Thread: I lost +500.000€ in the casino

Good morning.

The only thing I feel right now is pity, disappointment and frustration for having fallen into online betting.

I'm going to summarise a bit first of all.

A couple of years ago, being bored without too much work, I started to register in online houses to play slots or online roulette, but low amounts (100-400€) was not something too far-fetched. And in a few days when I lost about 800 or 900€, I self-excluded from casinos at the DGOJ [Spanish Gambling Regulator] so that I couldn't register at any other online casino ever again. So far so good, it's a manageable loss (all this in .ES and regulated casinos).

The thing is that last year, with my life savings, I started looking for websites where I could play blackjack online. And this is where my downfall began.

Being Spanish and living in Spain, no website would let me register and many of them would not even let me access (Spanish users can only play in regulated casinos .es in my case, I registered in a cryptocasino licensed in Curaçao because it had games that the Spanish one did not have, for example online blackjack).

The thing is that I found one that did let me.

And here, with the savings from all the time I have been working, I started to make deposits and more and more deposits (in cryptocurrencies).

It was around August 2023. And in one week, I lost approximately ~150.000€.

I ran out of money and had to take out a loan from the bank to keep my monthly expenses, which fortunately were low, slacking off.

Until a few days ago, specifically at the beginning of last week, I received €500,000 [in crypto] from a company that owed me money, and the first thing I did was to pay off the loan and start gambling again. Daily deposits of €50,000 - €100,000 or more.

I have a gambling problem and I didn't know how to stop in time, luckily I still have 1/3 of that payment in my possession.

I have been in contact with lawyers and they have recommended me to talk to the casino, as it is quite popular (I prefer not to say the casino for the moment, if the case arises I will say it and ask for your help, I will draw lots among those who can help).

I sent a private message yesterday to a member of another forum where all these online casinos are and where they mediate between problems that often arise, for example I have evidence that users who have had Spanish connections, have had all their winnings withdrawn and only their deposit refunded.

And this user is in constant contact with the co-founders of this casino that generates around €1m/day.

<...>

I am already in psychiatric and psychological treatment for this gambling addiction.

Apparently, users from Spain were not allowed to play/register but I was put on a white list as I was depositing a lot and at the same time losing it.

I am also in contact with the DOGJ.

Also when I asked them for my account information as I was retrieving as much information as possible, they have closed my account as they say I am in breach of the ToS as I am Spanish, I think they smell that I could not be playing and that is why they are closing it now.

I leave several proofs of deposits and chats with support, I delete logos and certain dates / IPs as it is sensitive information.

<...>

It seems like this person went to great efforts to circumvent the protections that the Spanish government tried to put in place for the benefit of their citizens. After that he let pure greed take over and waste a huge sum of money. I don't understand why they bother mentioning that the crypto casino makes around a million Euro a day, because it is irrelevant to this individuals situation. Remorse and regret is strong in gamblers, but there is no end goal for them - even if they won a huge amount, which they have a astonishingly small chance of doing, then they would likely dump it all back into the casino eventually. It shows a great lack of self control and often ends up with the person pointing at everyone but themselves as the person with a problem.

[tread93]

I would like to bring here a thread seen in a famous Spanish-speaking forum. I am going to translate part of the OP, but I would like to clarify first that throughout the thread the OP has clarified quite a few things and has provided evidence, so I, who have been in that forum for years, believe that the story is true.

Thread: I lost +500.000€ in the casino

Good morning.

The only thing I feel right now is pity, disappointment and frustration for having fallen into online betting.

I'm going to summarise a bit first of all.

A couple of years ago, being bored without too much work, I started to register in online houses to play slots or online roulette, but low amounts (100-400€) was not something too far-fetched. And in a few days when I lost about 800 or 900€, I self-excluded from casinos at the DGOJ [Spanish Gambling Regulator] so that I couldn't register at any other online casino ever again. So far so good, it's a manageable loss (all this in .ES and regulated casinos).

The thing is that last year, with my life savings, I started looking for websites where I could play blackjack online. And this is where my downfall began.

Being Spanish and living in Spain, no website would let me register and many of them would not even let me access (Spanish users can only play in regulated casinos .es in my case, I registered in a cryptocasino licensed in Curaçao because it had games that the Spanish one did not have, for example online blackjack).

The thing is that I found one that did let me.

And here, with the savings from all the time I have been working, I started to make deposits and more and more deposits (in cryptocurrencies).

It was around August 2023. And in one week, I lost approximately ~150.000€.

I ran out of money and had to take out a loan from the bank to keep my monthly expenses, which fortunately were low, slacking off.

Until a few days ago, specifically at the beginning of last week, I received €500,000 [in crypto] from a company that owed me money, and the first thing I did was to pay off the loan and start gambling again. Daily deposits of €50,000 - €100,000 or more.

I have a gambling problem and I didn't know how to stop in time, luckily I still have 1/3 of that payment in my possession.

I have been in contact with lawyers and they have recommended me to talk to the casino, as it is quite popular (I prefer not to say the casino for the moment, if the case arises I will say it and ask for your help, I will draw lots among those who can help).

I sent a private message yesterday to a member of another forum where all these online casinos are and where they mediate between problems that often arise, for example I have evidence that users who have had Spanish connections, have had all their winnings withdrawn and only their deposit refunded.

And this user is in constant contact with the co-founders of this casino that generates around €1m/day.

<...>

I am already in psychiatric and psychological treatment for this gambling addiction.

Apparently, users from Spain were not allowed to play/register but I was put on a white list as I was depositing a lot and at the same time losing it.

I am also in contact with the DOGJ.

Also when I asked them for my account information as I was retrieving as much information as possible, they have closed my account as they say I am in breach of the ToS as I am Spanish, I think they smell that I could not be playing and that is why they are closing it now.

I leave several proofs of deposits and chats with support, I delete logos and certain dates / IPs as it is sensitive information.

<...>

Damn, getting thrown into a psychiatric ward for gambling seems crazy but I mean hey it’s a real condition. I can only picture the significant other had to go though some serious shit in order for them to be booted into a facility like that. I hope they can change their game and their act accordingly!