Just won 300k online gambling- AMA!

[1inamillionodds]

(name change as no one knows I gamble irl)

I have been playing online gambling for last 2 years. Usual win is 2k but rarely and usually I’d lose it all again anyway.

have managed to win 300000 euros (it’s a non uk website as I’d previously signed up to Gamstop)… anyway they have slow withdrawal limits which mean
2k/day - max 15k a month

I am so scared I will play through it all again
but this is a life changing amount of money and I hope I can wait it out to withdraw albeit very slowly

I can't tell you how much I'm hoping this enables you to stop gambling. I think the first thing you should pay for is therapy to stop that happening.

What's your home situation like? Are you happy living where you are? I wonder whether putting it all (apart from money for therapy) into a new home might be a good way of making it impossible for you to spend it.

Please don't ever gamble again. If you stop now you've fully won. If you carry on the house wins AGAIN.

So lucky !

I really hope so too- I have an addictive personality.
I am a single mum to a toddler.

i have always used it as a release to escape when life gets too hard. Never gambled more than I can ‘afford’ to lose

eg this session was from deposit of £750
but it’s money I could have saved

currently renting so hoping to be able to put this money towards a house deposit and be more responsible with money

Good for you. Having your own bought home is a good shout

That is a life changing amount of money OP.

Please buy a house with it!

Can you put it into a savings account everytime a deposit goes into your bank? And once you have all the winnings close your account with the gambling site.
You will deeply regret it if you gamble it .

Sadly you will lose it all. You'd be better off spending it on therapy.

Don’t hope! Do!

You cannot fritter that away. Withdraw it all so you definitely have it in your possession and invest it all now. Otherwise you’ll probably spend it in dribs and drabs without even noticing. Your 2 year old is a good motivation!

As the child of a gambler I unfortunately agree. My question would be do you have someone in your life who could look after this money on your behalf because of you don't then it's very likely you will just gamble it all away again.

What’s your net winnings after your years of gambling?

That might sober you up from your moment of euphoria.

You need to get a grip.

Put it in a savings account which only allows limited withdrawals and then get help for your gambling. You won't be able to just stop on your own. You've already bypassed gamstop! Join a group and get counselling.

Can you use the money to replace that buzz with something positive. E.g gym membership or holidays or charity work or cooking or golf... Anything is better (and cheaper) than continuing to gamble.

I guess my question is what do you love?

I know it’s all too easy for the rest of us to stay don’t blow it on gambling and not so easy to do if you’re an addict, but please, please OP be strong and think of your two year old and the stability this money could bring to his or her life. Please withdraw it as soon as you can and park it in a savings account (or even use some of it to buy premium bonds which are safe but you would get the odd thrill of a win or the chance of a win). As soon as you have it all do use it as a deposit on a home for you and your child. Honestly, speaking as someone who blew a substantial amount of money (through poor choices rather than gambling), you will regret it forever if you blow this chance.

How much have you lost?

Enjoy your money! But please stop gambling as you will lose it.
Go and do something fantastic with it and enjoy it, but don’t risk losing it.

How much have you lost over the years?

OP - buy a home - pay for therapy - take it as a sign from above that all your Xmas have come at once and that you need to stop - find something else fun and interesting to fill the void - if it’s that you like the idea of winning maybe look at online strategy games instead

Definitely time to stop gambling.

I know you'll probably want to buy security for yourself too but you could really set your child up for life.

If your toddler maxes out their pension every year until retirement and you top up their ISA until age 30 (from memory around £2880 in pension topped up to £3600 by government, and £9000/year in ISA), pension would be £1,100,000 in today's money at retirement and ISA would be worth £450000 in today's money when they want to buy a house age 30.

Or someone could spaff it up the wall on nails and an Audi.

Lots of options.

Whatever you do, don't fall prey to financial advisors/crypto. Have a look at rebel finance school for basic financial education, they're a bit odd and I would ignore their investment advice as it won't give the same returns over the coming decades but it's good for having a basic financial understanding and motivation to be really good with money.

Presumably OP you already know that you gamble to lose. Winning isn't what drives you.

A gambling addict explained it to me - he needed an emotional hit. He got more of a hit from losing than he did from winning.

The realisation that he'd gambled and lost hundreds of thousands of pounds, lost his home, lost his family was a bigger emotional hit than winning.

He said there is no bigger hit than being devastated and that is what drives everyone who is a gambling addict.

That's why gambling addicts gamble their winnings. Even big wins. Even huge wins. They get a very strong emotional hit from losing it all. He said people really struggle to understand this concept but it does explain the addiction.

I think this applies to you OP. You are not playing to win. You won. You won a lot. So what would you play for, a bigger win? How much is enough, a million? Ten million? No, you play to lose. Like all other gambling addicts.

Is there any way to put a block on the site to prevent you gambling on it anymore? I know it will take a while to get the money out but if you can’t use it to gamble in the meantime, that could help.
Maybe then put it in a fixed term bank account for a year so you won’t have access to it. You can use the time to look for a property to buy.
I really hope you can hang onto this money OP, it would be so tragic if you gamble it away.
Also could you get some addiction treatment for your gambling?
Good luck

You will re gamble it and spend the rest of your life chasing the win

If they are licensed in the UK you can ask them to place a restriction on your account to prevent any further gambling. You will still be able to withdraw your winnings.

I dont want to ask you anything i want to tell you something.

It's a lifechanging sum.of money..
Get therapy and get into GA meetings

You have a problem.

Is there anyone you can trust to give them access to the site and change the password / administer the money so you cant access it?

Without significant changes you'll piss it all up the wall again otherwise.

If you cant do that siphon as much as you can into both JISA and Junior SIPPS for ypur child this year and then again on april 1st as it will protect a small portion for your child (12,600 per tax year so you can salvage at least 10% from yourself self destruction/ gambling)

thanks for all the replies:

I have probably in the last 2 years lost 20k? So if I can withdraw the full amount and not gamble (I really don’t want to touch it!!) I will be up overall and like all have said- if I lose it again then it won’t be anyone’s fault but my own.

I don’t think I have ever thought I have a problem or an addiction- yet I’ve never told anyone about it in real life maybe because it feels shameful to do? To not be responsible with money?