[matt]

Has anyone here have gone through a gambling addiction? And how did you manage to overcome it? I have been gambling for about last six months, thankfully I haven't got myself into debt so far, but there have been times when I lost everything and was so close to it. I just cant stop, for me its not just the money, its adrenaline you get when gambling that keeps me addicted. Now I dont earn much, but it still sucks when you loose your weekly wages just to feed your addiction.

[realologist]

I suggest you look at the drinking wagon thread. Even though it's about drinking the foundations of any addiction are all the same.

[Rossi]

By gambling, do you mean betting or just playing black jack or roulette?

[matt]

(02-13-2017 07:36 AM)Rossi Wrote:  

By gambling, do you mean betting or just playing black jack or roulette?

Mostly blackjack and roulette sometimes I will play some slots.

[John Michael Kane]

Lots of great advice here:

https://www.addiction.com/3200/overcome-...addiction/

You probably won't be able to quit cold turkey, but one thing you can do is not keep all your earnings in your wallet when you step out of the house. If you take only just a small amount of money to wager, you won't miss it if you lose. Never load your wallet up after payday and then gamble away your week's earnings.

Baby steps my friend, baby steps.

[pirate]

This has worked for me:

1. Budget for it. Designate x% (I did 5%) of your monthly income for gambling.

2. Go to the casino once a month with that set amount in cash (do not bring cards or any other form of additional money)

3. Play to your heart's content with that money, which means lose it all.

You will not feel anxious to come back and gamble more because you know next month you already have a scheduled session.

After a month of two you will begin to feel stupid for budgeting to throw 5% of your income in the gutter. Then you will stop doing it.

[matt]

(02-13-2017 08:45 AM)pirate Wrote:  

This has worked for me:

1. Budget for it. Designate x% (I did 5%) of your monthly income for gambling.

2. Go to the casino once a month with that set amount in cash (do not bring cards or any other form of additional money)

3. Play to your heart's content with that money, which means lose it all.

You will not feel anxious to come back and gamble more because you know next month you already have a scheduled session.

After a month of two you will begin to feel stupid for budgeting to throw 5% of your income in the gutter. Then you will stop doing it.

Thanks for advice, I can see that would work for someone who goes to real casinos or so called bookies, but I play only in online casinos. These rules no longer applies as it is so easy to access them. I have excluded myself from many sites but when I get the urge to gamble I just open new account on different site. Sometimes it's just boredom that makes me want to gamble.

Do you play only in real casinos then pirate?

[polymath]

What else gives you a feeling of adrenaline?

Personally I've never been addicted to gambling, but I want to share my thoughts in case it helps. I've had a couple or three addictions and the only thing that really helps me break free is to have a reason to be better and more disciplined. If an addiction is like fire, the only way for me to break free is to put my face in the thick black smoke until it chokes my lungs. By which I mean, find the negative effects and really consider the damage being done.

I had a family friend who was addicted to gambling in casinos. She didn't quit until it got so bad that loan sharks were coming to her house in the evenings and scaring her. She even called me once to come over because there were people outside her home. Those shady figures were the thick black smoke.....The sign of suffocation that forced her to change her ways. Not to mention she couldn't hide the debt from her family at that point.

But I will say this. Most regular folks do go into debt at some point or another, and everyone spends money wastefully at times. So it's not the end of the world to blow a paycheck or three on something you enjoy. You just have to be disciplined enough to walk away when you know logically that it's time to do so.

[matt]

(02-13-2017 09:32 AM)polymath Wrote:  

What else gives you a feeling of adrenaline?

Personally I've never been addicted to gambling, but I want to share my thoughts in case it helps. I've had a couple or three addictions and the only thing that really helps me break free is to have a reason to be better and more disciplined. If an addiction is like fire, the only way for me to break free is to put my face in the thick black smoke until it chokes my lungs. By which I mean, find the negative effects and really consider the damage being done.

I had a family friend who was addicted to gambling in casinos. She didn't quit until it got so bad that loan sharks were coming to her house in the evenings and scaring her. She even called me once to come over because there were people outside her home. Those shady figures were the thick black smoke.....The sign of suffocation that forced her to change her ways. Not to mention she couldn't hide the debt from her family at that point.

But I will say this. Most regular folks do go into debt at some point or another, and everyone spends money wastefully at times. So it's not the end of the world to blow a paycheck or three on something you enjoy. You just have to be disciplined enough to walk away when you know logically that it's time to do so.

That's the thing I need to find a different source of adrenaline, but I don't know what. It's very hard to get this feeling for me it's similar when you are scared of hights but you still want to climb a tall building or something just to experience adrenaline rush, you know you can fall or in case of gambling loose all your money but you still do it. Not many things in live can give you this, there are similar things but they are not easily accesible for everyone. I think that's the reason I struggle with my addiction. It's the worst thing and I need a way out.

[polymath]

What about the stock market?

[The_e_man]

Used to have a very bad gambling addiction. Usually, people cannot stop until they hit rock bottom and are literally so down-and-out that they don't have a single penny to play with, and they scared all their friends and family away to the point where nobody will loan you a penny (because you probably already owe everyone money that you can't pay back).
The road to recovery is long and painful. It took me about a year to abstain from gambling to the point where I feel like I am not addicted anymore. Even every now and then, I will get a slight urge out of nowhere to go to the casino and play "with just a little bit of money"
I fight that urge with every fibre of strength I have until it goes away. Then, I feel amazing for not going.

Wish you the best of luck in breaking this addiction.

[Peregrine]

I had a gambling addiction in university. It started out as sports handicapping, but then I lost control and started chasing bigger and bigger paydays. Completely abandoned all of my bankroll management rules. Wake up call was when I lost 10k in a night. Looked up one of those "20 signs you have a gambling addiction" articles and checked off 18 out of 20. So I quit cold turkey, self excluded for two years. Withdrawal was a bitch.

matt, your addiction sounds pretty serious. Have you considered handing over financial control to someone you trust? Self exclusion isn't working for you.

(02-13-2017 09:58 AM)polymath Wrote:  

What about the stock market?

I don't know if that's a good idea. It's no different than the casino.

[The Beast1]

(02-13-2017 09:58 AM)polymath Wrote:  

What about the stock market?

Just as dangerous as a casino.

Pitt's advice is the gold standard. Matt described the feeling I get when I day trade stocks.

You need a set amount you're going to play with and once you're done you are done!

I lost a lot of money on a poor penny stock play. I keep it in my brokerage account as a reminder of that failure and to nevr put too much down again.

[dongiovanni]

If you need a buzz that will ruin your life, why not bareback african hookers?

[The Beast1]

(02-14-2017 12:32 AM)dongiovanni Wrote:  

If you need a buzz that will ruin your life, why not bareback african hookers?

Or post useless replies to someone who genuinely needs help.

[matt]

(02-13-2017 05:31 PM)The Beast1 Wrote:  

(02-13-2017 09:58 AM)polymath Wrote:  

What about the stock market?

Just as dangerous as a casino.

Pitt's advice is the gold standard. Matt described the feeling I get when I day trade stocks.

You need a set amount you're going to play with and once you're done you are done!

I lost a lot of money on a poor penny stock play. I keep it in my brokerage account as a reminder of that failure and to nevr put too much down again.

No idea how they work, but would be interested to learn more. Are there any skills involved or just luck.

[The Beast1]

(02-14-2017 06:45 AM)matt Wrote:  

(02-13-2017 05:31 PM)The Beast1 Wrote:  

(02-13-2017 09:58 AM)polymath Wrote:  

What about the stock market?

Just as dangerous as a casino.

Pitt's advice is the gold standard. Matt described the feeling I get when I day trade stocks.

You need a set amount you're going to play with and once you're done you are done!

I lost a lot of money on a poor penny stock play. I keep it in my brokerage account as a reminder of that failure and to nevr put too much down again.

No idea how they work, but would be interested to learn more. Are there any skills involved or just luck.

Trading/speculating in my eyes is pretty simular to casino gambling. The differences being a high jargon entry but less advantage for the house (banks, market makers, etc). You'll never outwit the quants playing with big money so know your position and where you stand in the long run.

(This advice pertains to US markets. The rules for the UK will be different).
At the beginning when you don't know anything it will seem like luck. The problem with day trading is you need $25k cash to trade stocks without the T3 rules (you must wait 3 days plus the trade day for the stock to settle).

This isn't neccessarily a bad thing as it drags out your plays for multiple days. I've let trades run for a few days before closing them. However if you get the prerequisite 25k to trade with you can just chase small price changes and make money with that.

I believe that if you day trade with options the settlement period is only one day. You really need to know what you're doing with options though so practice!

FOREX (foreign currency trading) doesn't have these limits if i recall (correct me please if incorrect).

Essentially with stocks and currency you buy low sell high. Leverage can magnify your gains or losses. I would avoid scenarios where you can lose a lot because of this.

Once you start getting "good" with trading (using charting methods, understanding indicators, news etc) you can start to make some cash.

Check out investopedia.com for more info. I'd "paper" trade first with play money on investopedia to get a knack for things. There are other forums where people can recommend reading.

With all of that said, you still very much need to "get" your habit under control. Do you have the mental fortitude to set a limit for your gambling and not exceed it between each paycheck? If not, then you should go cold turkey and not gamble.

[dongiovanni]

(02-14-2017 03:49 AM)The Beast1 Wrote:  

(02-14-2017 12:32 AM)dongiovanni Wrote:  

If you need a buzz that will ruin your life, why not bareback african hookers?

Or post useless replies to someone who genuinely needs help.

Sorry, I forgot the appropriate response is to tell them to keep gambling in the most competitive market in the world and "make cash".

[The Beast1]

(02-14-2017 12:12 PM)dongiovanni Wrote:  

(02-14-2017 03:49 AM)The Beast1 Wrote:  

(02-14-2017 12:32 AM)dongiovanni Wrote:  

If you need a buzz that will ruin your life, why not bareback african hookers?

Or post useless replies to someone who genuinely needs help.

Sorry, I forgot the appropriate response is to tell them to keep gambling in the most competitive market in the world and "make cash".

With some self control why not? Better to direct that thrill seeking behavior into a constructive outlet.

If you have something useful to say, say it. Otherwise:

[dongiovanni]

With some self control? He's on a forum asking for help because he's ruining his life with house edge games and you think he can be the next Gordon Gekko. My useful advice is don't choose to be a loser.

[Comte De St. Germain]

(02-14-2017 01:07 PM)dongiovanni Wrote:  

With some self control? He's on a forum asking for help because he's ruining his life with house edge games and you think he can be the next Gordon Gekko. My useful advice is don't choose to be a loser.

Noted now get out you have nothing more to add.

[The Beast1]

(02-14-2017 01:07 PM)dongiovanni Wrote:  

My useful advice is don't choose to be a loser.

Sage advice you got there. Shame you ain't using it!

[Pollito]

While building self control or replacing a destructive addiction with a constructive one are possibilities, one extreme measure I know of (only if you frequent regulated, legal establishments) might be to place yourself on a self exclusion list. Most if not all well regulated jurisdictions give you the ability to contact individual establishments or the regulators themselves and ask that they don't permit you to buy in, cash out, or even enter casinos or tracks. I don't personally know anyone who's gone this route, but it is a last ditch option that's out there.

[WhatTheFuck]

My vice used to be online poker (NL Texas Holdem) but I didn't really call it gambling back then. Back in the heyday around 2006-2008 it was honestly like printing money. Easy $$$. Anyway, as the competition got more fierce my bankroll management slowly went out the window. I started losing a lot chasing those big paydays that used to come easily. Long story short I managed to get pretty much my whole identity caught up in this idea of becoming a professional online poker player. Several of my friends ended up dropping out of college to pursue this dream with disastrous results. When it was good it was good but the downswings were brutal. Definitely possible to be profitable over the long term if your disciplined, but the stress was eating me alive not to mention fueling all my other vices like partying. Drink away a big loss, celebrate a big win, etc. No way to live. It takes a special kind of person to succeed in that world and to be able to grind it out day after day without imploding. Even among the most disciplined players, the addictive nature of the sport along with the allure of the big win will cause almost everyone to self destruct and go bankrupt in the end.

The only people I have ever known to be successful longterm in poker are those who are being staked by investors. Playing with someone else's money takes a lot of stress out of the equation and adds a layer of accountability which helps one practice discipline and proper bankroll management. Although, in order to get to the point where someone will stake you is a long road in and of itself and often involves quite a lot of luck.

One thing you should know about playing blackjack, roulette, and slots on the online casinos is that it is quite literally lighting your money on fire. It used to be a well known fact among the online grinders in the poker community that the casino games were heavily rigged. Despite what the sites will tell you these games are not random chance like they'd have you believe. Most of them have carefully engineered algorithms designed to cheat/screw you out of your money. Due to the lack of regulations in the online industry there is simply no accountability and thus no reason for them to practice integrity. I remember back when Party Poker was still around I decided to play the black tables and all was good for a while, slowly winning money. As soon as I decided to up the stakes, BAM the worst bad luck streak ever. If I remember right, the odds were less than 1% of having a losing streak that bad by chance alone but somehow in a matter of about 15 minutes I managed to burn through over $2000 on $100 and $200 bets. That was a wakeup call.

At least in online poker you could be pretty certain in most cases that the house wasn't screwing you. They just took their little cut out of every pot and were satisfied with that. Even then you still had the problems of bots infiltrating the games every now and then, or rogue staff who had cheating software that allowed them to see other players cards. In addition, you had the fact that some of these sites would just randomly ban players and steal their money without any notice or justifiable explanation. Even Full Tilt which was well regarded in the online community turned out to have a giant shady pyramid scheme going on behind the scenes, and a lot of people got screwed back in 2011 when Black Friday happened.

Online gaming really is like the wild west man so tread carefully. If after all this you still find you must gamble, do yourself a favor and go to a real life brick and mortar casino to hit the blackjack table. At least then you can be guaranteed you are getting a fair shake even though you will probably still end up losing.

[matt]

To be honest my whole gambling addiction started because of online poker. When I took a bad beat or lost big it was so tilting that I went to roulette and tried to get my money back, sometimes it worked sometimes it didn't. Then I quit poker altogether, because I thought it's rigged, but that's another topic. Gambling seemed so much easier compared to poker. Never really took house edge seriously as in my opinion it would take 1000s of hands or spins for probabilities to average out.

Anyway, I will try to quit cold turkey see how it works out, I imagine payday will be the hardest for self control as is the day when I usually gamble. Maybe by shifting my focus to something like stock trading will take my mind of gambling as I am starting to get curious about it.