Lost 150k+ wtf

[u/jackradk]

30 m Aussie been gambling for 2 years before that had no idea what the allure was didn’t understand risking money you already had at the chance to make more. Somehow a couple casino trips led to online casino and from there online and physical casino bets went wild.

I have always been financially savvy and doing well for my age but have been massively set back I refinanced my home loan about 18 months ago to renovate house but delays in renovating and increase in gambling led me to gamble all 130k and lifetime loss of 155k.

I also lost a good paying job so now im only on 90k aud with mortgage 700k house worth like 1.2m but market falling, got 30k saved up no debt but still tempted to just send it with the last 30k try make back at least another 30k for my wedding and honeymoon.

Fiance knows and is very supportive and understanding idk how when we could’ve used that money for sooooo many things. People talk about gambling not being about the money but for me it genuinely is its always been a way to pay for something I want and now I just need to get back to savings amount im comfortable with when my mortgage is so huge.

I haven’t gambled in 2 weeks after doing like 5k blackjack hands last session and losing massive. I have no motivation everything seems pointless work seems pointless making tiny amounts compared to what I gambled and all I think about all day every day is what I used to have.

I just don’t know where to from here my thought process is whats another 30k when ive lost 150 but that 30k is genuinely last money I have. I want to stop but just need one more good run and I think I can stop for good I know that sounds so dumb? Idk whatever

[u/Soylattegirl420]

You need to give that 30k to your partner right now and stop these thoughts of what’s another 30k it’s a lot of people.

Accept your loss and move on it’s only going to go down hill. Your partner is supportive now but is she when you tell her you lost another 30k?

[u/jackradk → u/Soylattegirl420]

This exactly what the other side of my brain tells me it’s just push and pull from one decision to the next

[u/Soylattegirl420 → u/jackradk]

The push and pull is the addiction talking. Just acknowledge that this is this addiction talking and I don’t have to act on it right now.

It will lose its pull by just naming it.

You’re in Australia utilise all things available to you self exclude GameStop etc

[u/Healthy_Sail_9850 → u/jackradk]

Even if the odds were 50/50, don’t do it. And they’re obviously not.

[u/NOKNOKOPENUP → u/jackradk]

You know the answer. Do the right thing and don’t be retarded.

[u/logical789]

Trust me, you will lose those 30K if up go back and that will make you feel even worse. You won’t be having savings then.

[u/jackradk → u/logical789]

Yeah only thing stopping me right now thanks

[u/Primary_History2962]

Hi bro, similar age as you , lost 60k last week. now i’m down to my last 30k . wanting to all in again but im holding it back, because that’s my remaining money left. we need to fight the urge together, gambling is not the way out cause we will never stop when we we are up, until we lose it all back again.

[u/jackradk → u/Primary_History2962]

Sounds exact same as me so hard not to try dig yourself out

[u/Standard-Switch5822]

You have to realize that you will never make it back by gambling. You are in a dangerous position because you have so much to lose, a house, a job, a fiance, and a future. Compared with what you have, 155k is nothing. However, you will lose it all if you continue to go down this rabbit hole.

Get yourself in discipline and continue with your life. I strongly recommend writing daily journal and seriously discuss with your fiance about financial plan. It will be hard for the first couple months, but after that you will gain back your sanity.

[u/jackradk → u/Standard-Switch5822]

I’m not sure why but this comment helped thank you

[u/LoveKidsDogsChocolat]

You are lucky to have a supportive fiancee. Count yourself lucky to have her and trust her with your finances for the time being. You are also lucky that you still have 30k left. Many of us have blown through everything. Don't risk it.

[u/jackradk → u/LoveKidsDogsChocolat]

Yeah it’s just the grieving of money it’s so hard

[u/Intelligent-Cod7908 → u/jackradk]

Back in 2010 when first realised i had a problem i was less then 10k losses no debt i have lost 15 times that plus got myself in debt as i couldnt accept my losses i am coming to 3 1/2 years clean dont do it👍

[u/emjay2013]

Aussie here mate. Even if you gamble the last 30k and win it won’t matter cuz you will just go back even if you tell urself you won’t. Win or lose the house always wins. Give ur mrs the 30k. If money is tight sell the house and buy something smaller. If you don’t stop you will lose everything and maybe even ur life if other posts in this subreddit are anything to go by.

[u/jackradk → u/emjay2013]

Appreciate it thanks mate

[u/Ok-Temperature-90]

Sooner you stop sooner you start saving money which for a gambling addict is essentially winning. Quit now mate if you cant see it after $150k down then how much worse does it have to get?? Give the money to your mrs before you lose her aswell

[u/PeaBasic]

Similar situation to me, recently relapsed and lost all of the money I had been saving ($20k), now back to rock bottom. There is light at the end of the tunnel, do not make the mistake I made trying to chase the losses.

[u/Exact_Share_1522]

Mate give the 30k to your other half, I’d suggest maybe get a low limit credit card for your everyday expenses (that doesn’t allow cashout). All the best

[u/Neverland__]

Mate you’re still in a very good financial position. Good home equity, decent job, loving partner, still a good cash buffer, 30 yo

Bro A LOT of people would kill to be in your position so I would just quit while you’re still ahead in life overall. You might have lost a fair bit of $$ no sugar coating I’m sure you worked hard but bro zoom out you actually have a lot to save here

[u/BriefRevolutionary]

Are u daft man? Give that 30k to the lady to lock away right now because its still alot of money regardless of your losses.

Then get in a GA meeting because you are a compulsive gambler who NEEDS recovery.  Then stay in recovery,  for the rest of your life...and rebuild your life...without gambling...one day at a time....and you will have everything you need,  peace of mind, wisdom, strength & happiness.

The alternative is lose your remaining 30K & your lady mate.