[JM728]

In my early 30s with a great job, great gf, so happy with life..or, I was. Quarantine starts and Im wfh all day,
nbored and isolated. Scrolling through reddit I see posts about ”investors” making anywhere from 2-10x on their
ninvestments by trading options and taking advantage of the recent market volatility due to coronavirus. I had dabbled
nhere and there in stock market, probably lost about $100 a few years ago just playing around but I was intrigued and
nstarted learning all I could about options. After a few days of reading I decided to put 100k of savings into my account…
ntotally stupid and insane, I see that now. At the time all I could think about was how I could take advantage of these once
nin a lifetime market conditions and 2x, 3x, maybe even 10x that money.
n
nWithout going into trading details, I went down 50k almost immediately. Within the first week. Thinking I could make it back I put in 60k more,
ngiving me a bigger cushion to work with. Over the course of 3 months with many ups and downs, this has dwindled to 20k. I have lost 140k,
nthe entirety of my savings and this last 20k I actually owe to my sister for paying off my student loans a couple years ago.
n
nI don’t know what came over me. It’s like the value of the money just lost all meaning. The only thing I could think about
nwas getting back to even. I play poker from time to time, maybe twice a month and I have NEVER had this problem. I’ll win a few hundred some days,
nlose a few hundred some days and I just dont really care, always able to walk away at any point. Why was this so different? Why did I care so little about
nthe money? I don’t understand how this could have happened so quickly and easily.
n
nI am a complete wreck. I can barely eat, barely sleep. Can’t get it up with my gf. All I can think about is how far this has set me back. It’ll take me 3 years
nto save up this money again and I can’t stop thinking about making it back so I don’t have to endure this pain and shame. I’ve been talking to my sister
nabout buying properties and managing them together…now I’ll have to tell her that plan has to wait years. My gf tells me all the time how she loves that
nI’m so ”stable.” I had been telling her that I’m considering buying a house, now that dream is dead.
n
nI am in so much pain.

[Steev]

Expensive – but you have learnt that gambling in any form is not for you. The important thing now is to know that the money is gone and not to chase it. If you chase you will lose more and you may never get out of the cycle of trying to earn the money to get back to where you were and then losing it the next time you see an opportunity to get rich quick. Just read through some of the stories on here to see how others have come unstuck.
n
nThe good news is (it seems) that you are not in debt (apart from the amount owed to your sister,) and that you can earn the money back in a relatively short time of 3 years.
nI know it doesn’t sound like a short time – but in my own case it took me over 20 years to pay back the debt I was in and I only did that by selling my own home. Don’t chase your loss – I have written a thread on this in the ”Recovery Tools” part of the forum. It seems to have been deleted – but I have posted it again there – so should be on top now.
n
nThe steps you need to take are – first, to ensure you don’t gamble again. So, block yourself off from all sites which offer these schemes and anywhere else where you may gamble. Get someone else (your sister or girlfriend) to handle your finances for you – so that you won’t have the means to gamble. That may mean letting them know what has happened – that is your decision. But I would argue that your sister has a right to know what has happened to her money! Get good support for yourself as soon as possible . Consider contacting a self help group where you are, maybe Gamblers’ Anonymous or something similar (most meetings are on zoom now – see the thread started by Charles here and in the recovery tools forum) and see if you can access counseling through your health provider. Finally keep yourself busy with things other than gambling – but not something else that could become an addiction. Try and pick yourself up from this and enjoy life a little – you will get through this as long as you put an end to the gamble now. I wish you well.

[dunc]

Hello and thanks for starting a thread in the Gambling Therapy forums

Here at Gambling Therapy we pride ourselves on being a caring and diverse online community who can help and support you with the difficulties you?re currently facing. We understand that this might be a tough time for you, particularly if you?re new to recovery, so come here as often as you need to and participate in the forums, access online groups and connect to the live advice helpline if you need one to one support. We?re in this together!

Here on the forum you can share your experiences in a safe, supportive and accepting environment. The beauty of writing it all down is that you can take your time and you will be creating a record of your progress that you can look back on if it ever feels like you?re not moving forward. So, share as much or as little as you like but do try to stick to keeping just one thread in this forum so people know where to find you if they want to be updated on your progress or share something with you.

As well as the forums New Members are invited to join Charles in the New Members Practical Advice Group On Mondays at 21:00 (UK) and Thursday at 19:00(UK)

And on that note….

I?m going to hand you over to our community because I?m sure they will have some words of wisdom for you ??

Take care

The Gambling Therapy Team

PS: Let me just remind you to take a look at our privacy policy and terms and conditions so you know how it all works!

[Meghna83]

JM how are you since you last post?

Your loss is certainly big but you are still young and alive. please turn your back on this and start saving again. You will look back and see it as a terrible mistake

[edhavana]

I’m in a similar situation like you but I lost them in casino around 3 times the amount you lost the worst thing is if you try to get it back by gambling or by trying to get a loan from someone and try to invest them again cos you continue to lose as it happened to me. And the more you try the worst it gets

[F?rfattare]

Inl?gg