£34k lost

Flat4DIT · 2019-11-14T03:36:49+00:00

Gambling is an addiction, not a hobby.

Just like booze and drugs are not hobbies but vices.

Woodworking is a hobby.

You need to stop.

Double_Cake · 2019-11-14T05:38:10+00:00

This gambling thing is the devil. Just like wasting money buying useless shit but worse.

DangZagnut · 2019-11-14T03:50:57+00:00

You win some, you lose some, but mostly you lose.

A casino or poker website can't afford a new $300 million annex because they lose money.

EdwardSandchest · 2019-11-14T04:14:23+00:00

> When i lose i always double down to make back the money i lost and extra profit.

It was inevitable that you would lose. Its never mathematicians who come up with these systems.

ncarolina66 · 2019-11-14T03:38:17+00:00

Sorry to hear that dude.

Hope you can restock your fund and maybe stay away from the gambling in the future.

Or at least come up with a different strategy as doubling down sounds like a losing proposition. If you have to gamble, you said you only did it with money you could lose......then only go with the amount you can actually lose that day, say $1000 and if you lose it all, go home and that would be all you lost. Start to save for just the $1000 before going back.

Best idea would be NOT to gamble at all. And another tidbit, putting your money in the stock market although up for many years is all a BIG gamble too. Just something to think about.

SylvestorTalone · 2019-11-14T04:21:33+00:00

All Casino games have a built in mathematical edge that cannot be overcome within the rules of the game (the exception is blackjack if you can count cards). The reason doubling up (the Martingale strategy) does not work is precisely because in a large enough sample, huge losing swings like the one you experienced are expected.

That said, I actually make money gambling. You can do it by abusing the special offers that online casinos give out, until they gub you that is. You'll have a hard time making 30k in a year doing that though

Origami84 · 2019-11-14T08:05:53+00:00

You already know you fucked up, there is not much to add. I can give you my sympathies, for what they are worth right now.

rabbit8lol · 2019-11-14T04:53:27+00:00

Seems like gambling should have stayed a hobby.

Priorities man. You have a son in a world that will give no shits about him and try to train him to serve his masters, set an example.

You haven't failed him unless you give up.

How old is your son?

Sadman1482 · 2019-11-14T05:06:13+00:00

You fucked up big time but life is about redemption . He’ll be okay either way . I recommend every young man goes to community college first to save money anyway . If he even decides to go

unreliable_noob · 2019-11-14T05:19:37+00:00

it's like blackjack. If you lose, double down. If you lose again, bet your daddy's watch, because you're bound to win eventually.

GoodMan_Gone · 2019-11-14T07:51:28+00:00

You're not asking advice but I'll give it anyway, OP. Feel free not to read my post.

If I were you I'd consider that 34 quid to be a valuable lessen, worth every pence. Why? AFAIK the addictive "thrill" of gambling is not winning but losing. Losing gives you the "excuse" to gamble on to make up for your loss. Every casino, gambling site a.s.o. have their odds stacked against you. I.o.w. on the long run, you can't win. Yes, we all know the stories of people who come into a casino for the first time, throw in a nickle and win 10 million. I think that's part of the marketing of casino's: to lure in more players.

Also if I were you I would refrain to beat myself up for that loss: it might very well lure you back to that gambling platform in rage. To get even. You'll only make things worse. I would man up, take the punch and bust my ass off for the coming year to "get even" that way.

On a sidenote. IMO all gambling platforms are scam. look at lotteries f.e. What struck me is those jackpot prices are always an "awkward" amount of money. Say 10 million dollars. No, I don't have that lying around in my basement and it is a lot of money. Or is it? It is enough to allow me to stop working. But I won't be able to live like a king: private planes, ships etc. Yes maybe for a year. But then it'll be gone. To live out on 10M I'd still have to be a bit modest in spending. And I would actually hate to lose a life purpose: my work. Also I'd much rather try to save that by working/ investing myself instead of buying a winning lottery ticket...

Cizzar · 2019-11-14T08:10:07+00:00

When i lose i always double down to make back the money i lost

Yeah, that's more akin to a gambling addiction than "gambling smart" ...

Okayokayokay9999 · 2019-11-14T08:23:52+00:00

Hey man, sorry to hear that. Don't do anything rash, as you say it stings, but you can come back from this. Obviously kick the gambling to the curb, if you start doing it again you need to get help. The thing is, there is no way to beat the house edge, it's mathematically impossible. Once you start betting hundreds of pounds, that's when it's an addiction and not a bit of fun.

Maybe try and find a new hobby you can put your time into?

MoonshineGuy859 · 2019-11-14T10:01:46+00:00

This may not be all bad. First off, stop gambling. Completely. Secondly, college is usually a bigger waste of money than gambling. It is an indoctrination center. You send your kid in decent and he or she will exit a Marxist.

If you have a girl, she will be trained to see every man as a rapist. If you have a son he stands a better than average chance of getting charged with regret rape.

Send your kid to a trade school. He could start learning a trade in high school and be well on his way to earning six digits and working for himself by the time his friends are graduating with a degree in communications and deep in debt.

AeternusDoleo · 2019-11-14T10:29:40+00:00

This is a wake up call dude. You're taking responsibility by putting in the hours, that's good. But get help - or this WILL happen again.

tw-1234a · 2019-11-14T14:57:29+00:00

We all have regrets. What is good about this is you KNOW what the problem is. You're not in denial. Imagine if you were still doing this and wondering why it doesn't work anymore. Many people miss the obvious.

So your kid may have to get a loan. Bad, but not as bad as not being able to go to college. If you want, you could make the payments on his loan...and probably pay it off earlier. Saving that much money is a true skill.

A better idea is to pay what you can while he's studying. Lower loan basis > pay off early.

This is bad but not a disaster. You can turn this around.

Mythrobo · 2019-11-14T18:18:56+00:00

Investment is a hobby, gambling, not so much

TooAwareToCare · 2019-11-15T11:34:41+00:00

How did you get into it?

I’m 24 in the UK too, did you ever do matched betting? I thought that was ‘smart’

I’m someone who is always looking for a way to make cash like that and it seems like gambling works though?

For you to say you made 10k so casually...

Is there really no difference between ‘smart’ gambling and actual gambling?

junglecitymonk · 2019-11-14T05:16:00+00:00

Lessons learned? Let’s hope so. Converted to dollars and invested for 13 years at 8% interest that is a $122,384 you could have made. 122k would have been one helluva college fund. Don’t make the same mistake twice.

Title	£34k lost
Author	FoxCatDogLionApe
Upvotes	20
Comments	24
Date	November 14, 2019 3:31 AM UTC (6 years ago)
Subreddit	Posted in /r/MGTOW
Original Link	https://old.reddit.com/r/MGTOW/comments/dw3jmq/34k_lost/
Archive Link	https://theredarchive.com/r/MGTOW/34k-lost.388681 https://theredarchive.com/post/388681

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