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20 year old university student...lost 3k in 1 hour

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20 year old university student...lost 3k in 1 hour

Postby LostSoMuchDepress » Wed Dec 23, 2009 5:06 pm

i recently began online gambling for the first time every in my life and deposited $500 into my account. the first day of gambling for really successful for me as i ended up with nearly $900.

then today....

i started off playing poker and lost a few, so then i switched to playing roulette at the online casino and lost all my $870...

i deposited $500 into my account hoping to regain it... i lost it all again

then i deposited $500 again a few minutes later, lost it all again.

i deposited another $500 one last time and lost everything. i feel so depressed right now. after losing nearly $3000 in just an hour i knew i have a serious gambling problem. so i immediately locked my credit card away under a table, and sent an e-mail to the casino site to close my account. they just closed my account a few minutes ago and said that it will never be enabled again.

the depressing thing about this was that i said to myself at the beggining of today "if i lost more than $100, i will stop for the rest of the day". well i ended up losing way more than that, now i don't know how to explain this to my parents when they see that i have a $2000 credit card payment.... even worse is that this happen right before christmas... and i'm still in university and this is a big blow to my tuition payments.


i just feel so sad. i was so stupid to have wasted so much money in such a short amount of time. it'll take me nearly 3 months of working at my current job to make back $2100 (i make about $700 a month). my family doesnt make much either because we are barely a middle class family and i know my parents work hard to save their money for me, while i just blew away so much. o man am i stupid....
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Re: 20 year old university student...lost 3k in 1 hour

Postby Chucky » Thu Dec 24, 2009 1:44 pm

Hey,

Dont be too hard on yourself, but I think that the best thing for you to do at this point is to admit what has been done, to yourfamily, partner, or otherwise. Admitting it here is a good starting point, I guess, but it'd be better to confide in someone close to you too. Dont worry about how long it'll take to recoup the money lost - The point is to get into the habit where you CAN start to save money. 3 months is nothing to be honest, and it'll pass by in no time if you get some good habits in place whereby you save a little each week. Try to think of things that you don't actually need to buy, but also really consider confiding in someone.

Kevin
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Re: 20 year old university student...lost 3k in 1 hour

Postby CGS » Tue Jan 05, 2010 12:37 am

We know some people who have lost millions of dollars and have gone to jail because they could not repay the casino markers (or loans) they took out. If all you lost was $3,000 (which we know is a lot of money), then you are in a much better position than they are! The damage you think you've done is not even a scratch on the surface when placed side by side with the damage done by some of these guys. The most important thing to do right now is to ease yourself out of thinking that you must get that money back. Try to move on and don't look back. Unless you are already addicted to gambling, you can still break away from the vicious cycle of an addicted gambler! We don't know your level of expertise in gambling, but most people starting out don't realize that casino games are actually made to benefit the casino, NOT the gambler! When you play any casino game, it's NEVER a 50/50 proposition--it's usually 49/51 or so where 51 is for the casino. That's just how the games were designed. Even the world's greatest mathematicians can not come up with a formula that will guarantee the gambler consistent winnings! That's not to say that there aren't gambling systems that you can use to make some profit in the short run, but rather that you will definitely lose increasingly more money at gambling if you don't employ a system to help suppress the losses. If you are going to gamble, be a responsible gambler by doing your "homework" and understand the risks involved and how it can affect you. Last but not least, you should NEVER gamble with money that you need to pay monthly dues, fees or the cost of living with.

CGS

P.S. Although we don't recommend anyone to gamble, if you MUST, at least equip yourself with proper knowledge before you do.
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Re: 20 year old university student...lost 3k in 1 hour

Postby Refill » Tue Mar 09, 2010 11:12 pm

Why do we always beat up on ourselves so badly when we do this? If you find that this is a recurring problem then Gamblers Anonymous might be a good place to find help.
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Re: 20 year old university student...lost 3k in 1 hour

Postby CollegeGame » Sun May 02, 2010 7:58 am

I have some good news for you and am only telling you this because you sound like you really could not afford to lose this money.

Assuming you live in the US, the charges that were processed to this online gambling website were illegal. You didn't do anything wrong, the website which processed the transactions broke the law by lying to the financial institution and telling them they were for something else. If you look at your bank statement you will see it comes up as some phony website for some odd amount.

Instead of your statement saying "online casino $500.00"
It probably looks somethings like this "EVNET.NET $499.98"

This is the scam that online casinos pull in order to get these transactions to process without the bank stopping them.

So what can you do? Well since you never did business with EVNET.net or whatever they used to charge your card you can dispute these charges with your bank and you will win. You need to call up your bank and tell them you do not recognize these charges and you dont know what these charges are for. The bank will then do an investigation and since the company cannot admit to lying to the bank they will refund the money. I know plenty of people which have done this. Good luck and I hope you get your money back. Remember you did nothing wrong, and the online casino websites are the ones to blame.
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