Man bets S$100,000 life savings online & loses
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Just a few minutes of madness caused Gabriel Lim, 28, to lose S$100,000 – his entire life savings – on an online gaming website. What possessed him to take such a risk?
Currently unemployed, the former store supervisor first got hooked to online baccarat last November after friends introduced him to the game.
The lure of ”easy money” induced Lim to set up an account with the online gaming website. Initially, Lim started with small S$5 bets but blessed with ”beginner’s luck”, his winnings soon came up to an average of S$2,000 a day in the first few months.
“I was playing it almost three hours each day at home and sometimes in the office too,” he told Yahoo! Singapore.
“I remember winning S$15,000 within a day, it really felt good,” said the diploma holder, who quit his job to focus full-time on his new passion.
The adrenaline “rush” from winning big caused Lim to make bigger and bigger bets, all in the hope of making a huge windfall. Then came the crash in March earlier this year — in just a matter of minutes.
Revealing how he lost $100,000 in the blink of an eye, he said, “The simple rule [in online gambling] is to use the ‘doubling up’ method, where you double your bet amount each time you lose. But remember, once you lose ten games in a row, log off and accept defeat,” Lim said.
“But I lost discipline and control and went against the ‘rule’. I continued with the 11th game thinking I would be able to win back my losses but lost everything instead.”
“I was stunned for a few minutes and when I realised all my money was gone, the only thing I wanted to do was smash things up to vent my anger and frustration,” he said.
Afraid his parents would find out, he turned to his elder brother after seeing his personal savings wiped out.
“[My brother] lost S$50,000 at the casino so he understands what I am going through,” Lim said.
So how is he dealing with the loss?
Lim nonchalantly said no one is to blame except himself. When Yahoo! Singapore spoke to him, the single man didn’t appear too affected by losing such a huge sum of money.
He even remains adamant that he is not a compulsive gambler. He says he is now looking for a new job so he can start saving from scratch in order to build up another pool of capital.
“I will continue to gamble once I save enough cash and I believe this time round, I will follow the rules and win back my money,” he said confidently.
“I don’t consider myself a compulsive gambler because to me, it’s more of a tactical thing where I strategise to win money. The key is discipline.”
-- Yahoo!
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all empty talk
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He never learn his lesson...
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a stupid twat and his money are soon parted ..... nuff said.
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brownie in the act
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his name says Gabriel Lim, u retard :)
This guy has a never say die spirit.
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dumb ass...........
online betting on soccer is okay............online gambling is dumb...........
the whole thing was rigged !
i repeat..........online betting is okay becoz the website can't manipulate the results...........
online gambling is suicide..................
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Originally posted by QX179R:
Just a few minutes of madness caused Gabriel Lim, 28, to lose S$100,000 – his entire life savings – on an online gaming website. What possessed him to take such a risk?
Currently unemployed, the former store supervisor first got hooked to online baccarat last November after friends introduced him to the game.
The lure of ”easy money” induced Lim to set up an account with the online gaming website. Initially, Lim started with small S$5 bets but blessed with ”beginner’s luck”, his winnings soon came up to an average of S$2,000 a day in the first few months.
“I was playing it almost three hours each day at home and sometimes in the office too,” he told Yahoo! Singapore.
“I remember winning S$15,000 within a day, it really felt good,” said the diploma holder, who quit his job to focus full-time on his new passion.
The adrenaline “rush” from winning big caused Lim to make bigger and bigger bets, all in the hope of making a huge windfall. Then came the crash in March earlier this year — in just a matter of minutes.
Revealing how he lost $100,000 in the blink of an eye, he said, “The simple rule [in online gambling] is to use the ‘doubling up’ method, where you double your bet amount each time you lose. But remember, once you lose ten games in a row, log off and accept defeat,” Lim said.
“But I lost discipline and control and went against the ‘rule’. I continued with the 11th game thinking I would be able to win back my losses but lost everything instead.”
“I was stunned for a few minutes and when I realised all my money was gone, the only thing I wanted to do was smash things up to vent my anger and frustration,” he said.
Afraid his parents would find out, he turned to his elder brother after seeing his personal savings wiped out.
“[My brother] lost S$50,000 at the casino so he understands what I am going through,” Lim said.
So how is he dealing with the loss?
Lim nonchalantly said no one is to blame except himself. When Yahoo! Singapore spoke to him, the single man didn’t appear too affected by losing such a huge sum of money.
He even remains adamant that he is not a compulsive gambler. He says he is now looking for a new job so he can start saving from scratch in order to build up another pool of capital.
“I will continue to gamble once I save enough cash and I believe this time round, I will follow the rules and win back my money,” he said confidently.
“I don’t consider myself a compulsive gambler because to me, it’s more of a tactical thing where I strategise to win money. The key is discipline.”
-- Yahoo!
At 28, he has $100,000.... Certainly not a small amount. Probably he won them earlier on?
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To sum it all up:
- He lost $100,000 in a matter of minutes, wiping out his life savings
- He wants to find a new job solely for building up capital..... for further gambling.
And he still thinks he doesn't have a gambling problem?
Now this is what I call DENIAL.
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he nvr learnt his lesson.
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this should be a brownie
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That's why i always say grambling always makes you lose. Coz no matter how much you "won", in the end you'd gona bet even more to "win" even more, in the end you'd lose all, and even folking out your own money and lose even more.. Trust me, coz i'm a dealer in the casino =)
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good luck to him. Can some one persuade him to lose to SingTote instead so that at least singaporean might maybe benefit?
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Imagine a store supervisor with his miserable salary how long have he worked to earn the 100k and than lose it.
Plus his brother who lost 50k, its a total of 150k which is enough to buy a house liao
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150k is enough to buy what house in sg?
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If he has $100K in savings, imagine his CPF account.
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150k enough to buy low flr bto, just like brownie
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I ever saw my cousin play on line before...placed $5 bet or $30 bet....win and lost.....
And the girls also very pretty too.
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Originally posted by Rock^Star:
150k is enough to buy what house in sg?
1 room flat in some rural area
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kiao tuo ! :)