Confessions of an Internet Gambler – My Biggest Financial Mistake

In honor of Tough Money Love’s post today on financial mistakes that we bloggers have learned the hard way, I wanted to share with you my biggest mistake.

Six years to the day yesterday I turned 19 (legal age to gamble in Canada).  My father and I took the twenty minute trek to Niagara Falls and we sat down at a blackjack table.   An hour later I was $600 richer and a gambler for life.

College – My Dumb Years

I went to school in Indiana, luckily there were no casinos around and Internet gambling was just becoming a fad.  I would go home on occasion specifically for the casinos.  I will be honest and tell you I came out ahead at live casinos playing blackjack, but along the way I broke some of my own hard and fast rules for not losing my shirt at a casino.  These rules:

  • Don’t ever go to the ATM, bring what I am willing to lose.
  • Don’t chase lost money with bigger bets
  • Don’t overreach (walking into a casino and playing a single blackjack hand for $300, losing, then spending the next four hours trying to get back even, is not advisable)

About the tail end of college I started to play Internet poker.  I had a good year at live casinos so I was willing to have fun with my money.  I am not a poker player, I like action and poker is a slow game.  I probably lost $2000 over the course of a few months before I left Indiana for grad school.

Grad school – My Really Dumb Years

I made some great friends while at grad school and we all loved to hang out and play cards.  Usually we played for small amounts because it was social.  This got my blood pumping for more and I proceeded to start playing online poker about as much as I was studying.  Again, I am not a poker player.  Over the course of two years I lost $6000 took an 8 month break and lost another $4000 when I felt I could come back and control my habit.

I would constantly stress about money, dipping into my savings to pay my gambling bill.  It never became debt, but it was scary.

Employment – My WTF Brian! Years

A friend asked me for my newspaper to check the lines of opening NFL weekend and then placed a call to his bookie in front of me.  I had never bet on football before with any real money, but I know the game and I liked his bet.  I told him to throw $200 extra and I was good for it.  At this time I hadn’t placed a bet in about a year.  I lost that $200 but started to look at football as a way to make some extra cash if I got good at reading the lines.  The next week I placed a few bets and won about $550.

With money flush in my account I was looking at the lines for the following week with excitement to make some money.  But when it’s Tuesday, NFL Sunday seems so far away.  In the corner of my eye I saw the online blackjack tables.  To pass the time I was playing $1 and $2 hands.  Again, I like action.  This eventually turned into $25 hands which turned into three $25 hands at a time.

The blackjack hands at an online casino take about three seconds to play.  A couple mouse clicks and it’s the next hand.  My blood was pumping so fast while playing I would mis-click buttons and lose money.  There were times when I would have three hands of $300 playing at the same time.

This behavior lasted for about three months.  It finally concluded when I placed one large (over $2000) bet on a football game.  It was a smart bet and i won it.  All told, when i called the website this past week they said in that four month period i had deposited over $8500 into their system.  Luckily I had cashed out with almost $11,000.  I really thought I had made more (any surprise their?).

Present Day – The Responsible Years

I have had quite the turnaround in the past year.  My cash flow is out in the open and it’s all from reliable sources (employers).  I haven’t placed a bet since that large bet in early December.  I have made a permanent change for the better.

One of my brothers and i made a commitment to each other that we would not place a single bet this year (table games or football).  I don’t know how he is doing with his end of the deal but I have not made one single bet (even a friendly wager amongst friends).

I also discovered the power of personal finance and the knowledge that one can really win the race with a slow and steady approach.  They may not know it, but several personal finance bloggers have been an inspiration to me and have kept me on a path towards accumulated wealth.  I thank each of them for that.  (Going to have to give thanks in particular to J. Money at Budgets are Sexy.  Without his advice I wouldn’t have written about this topic and maybe one of you wouldn’t have had the opportunity to learn from my mistakes.)

69 Responses to Confessions of an Internet Gambler – My Biggest Financial Mistake
  1. Lenny Enderby
    April 19, 2018 | 8:06 am

    I simply want to mention I am all new to weblog and truly loved you’re blog. Very likely I’m likely to bookmark your blog post . You surely come with good posts. Thanks a bunch for sharing your blog.

  2. Rets Pro Ripoff
    April 19, 2018 | 11:37 am

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  3. Health and Fitness
    April 19, 2018 | 12:24 pm

    Very nice post. I just stumbled upon your blog and wished to say that I have truly enjoyed surfing around your blog posts. In any case I’ll be subscribing to your feed and I hope you write again soon!

  4. Health and Fitness
    April 19, 2018 | 1:00 pm

    I really like your writing style, great info, thank you for posting :D. “All words are pegs to hang ideas on.” by Henry Ward Beecher.

  5. Health and Fitness
    April 19, 2018 | 2:33 pm

    great submit, very informative. I ponder why the other specialists of this sector don’t notice this. You must continue your writing. I’m confident, you’ve a huge readers’ base already!

  6. Health and Fitness
    April 19, 2018 | 7:56 pm

    I dugg some of you post as I thought they were very useful very useful

  7. Health and Fitness
    April 19, 2018 | 9:44 pm

    I have been absent for a while, but now I remember why I used to love this site. Thank you, I¡¦ll try and check back more often. How frequently you update your site?

  8. Health and Fitness
    April 19, 2018 | 10:37 pm

    Great web site. Lots of helpful information here. I¡¦m sending it to a few friends ans also sharing in delicious. And naturally, thank you in your sweat!

  9. Health and Fitness
    April 19, 2018 | 11:07 pm

    Absolutely pent subject material , thankyou for selective information .

  10. Health and Fitness
    April 20, 2018 | 4:31 am

    Thank you for the auspicious writeup. It in fact was a amusement account it. Look advanced to more added agreeable from you! By the way, how can we communicate?

  11. Health and Fitness
    April 20, 2018 | 6:17 am

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  12. Health and Fitness
    April 20, 2018 | 8:51 am

    Magnificent goods from you, man. I’ve understand your stuff previous to and you’re just extremely great. I actually like what you’ve acquired here, really like what you’re saying and the way in which you say it. You make it entertaining and you still care for to keep it sensible. I can’t wait to read much more from you. This is really a wonderful web site.

  13. Health and Fitness
    April 20, 2018 | 10:01 am

    I’ve recently started a blog, the information you provide on this site has helped me greatly. Thanks for all of your time & work. “The man who fights for his fellow-man is a better man than the one who fights for himself.” by Clarence Darrow.

  14. Health and Fitness
    April 20, 2018 | 1:58 pm

    Some really superb blog posts on this web site, thanks for contribution. “An alcoholic is someone you don’t like who drinks as much as you do.” by Dylan Thomas.

  15. News
    April 20, 2018 | 2:27 pm

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  16. Health and Fitness
    April 20, 2018 | 9:37 pm

    Very interesting topic , regards for posting . “Nothing great was ever achieved without enthusiasm.” by George Ellis.

  17. Health and Fitness
    April 20, 2018 | 10:16 pm

    I’ve been absent for a while, but now I remember why I used to love this blog. Thank you, I will try and check back more frequently. How frequently you update your site?

  18. Health and Fitness
    April 20, 2018 | 11:48 pm

    It’s perfect time to make some plans for the future and it’s time to be happy. I have read this post and if I could I wish to suggest you some interesting things or advice. Maybe you could write next articles referring to this article. I desire to read more things about it!

  19. News
    April 21, 2018 | 1:34 am

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Trackback URL http://mynextbuck.com/confessions-of-an-internet-gambler-my-biggest-financial-mistake/trackback/

Confessions of an Internet Gambler – My Biggest Financial Mistake

In honor of Tough Money Love’s post today on financial mistakes that we bloggers have learned the hard way, I wanted to share with you my biggest mistake.

Six years to the day yesterday I turned 19 (legal age to gamble in Canada).  My father and I took the twenty minute trek to Niagara Falls and we sat down at a blackjack table.   An hour later I was $600 richer and a gambler for life.

College – My Dumb Years

I went to school in Indiana, luckily there were no casinos around and Internet gambling was just becoming a fad.  I would go home on occasion specifically for the casinos.  I will be honest and tell you I came out ahead at live casinos playing blackjack, but along the way I broke some of my own hard and fast rules for not losing my shirt at a casino.  These rules:

  • Don’t ever go to the ATM, bring what I am willing to lose.
  • Don’t chase lost money with bigger bets
  • Don’t overreach (walking into a casino and playing a single blackjack hand for $300, losing, then spending the next four hours trying to get back even, is not advisable)

About the tail end of college I started to play Internet poker.  I had a good year at live casinos so I was willing to have fun with my money.  I am not a poker player, I like action and poker is a slow game.  I probably lost $2000 over the course of a few months before I left Indiana for grad school.

Grad school – My Really Dumb Years

I made some great friends while at grad school and we all loved to hang out and play cards.  Usually we played for small amounts because it was social.  This got my blood pumping for more and I proceeded to start playing online poker about as much as I was studying.  Again, I am not a poker player.  Over the course of two years I lost $6000 took an 8 month break and lost another $4000 when I felt I could come back and control my habit.

I would constantly stress about money, dipping into my savings to pay my gambling bill.  It never became debt, but it was scary.

Employment – My WTF Brian! Years

A friend asked me for my newspaper to check the lines of opening NFL weekend and then placed a call to his bookie in front of me.  I had never bet on football before with any real money, but I know the game and I liked his bet.  I told him to throw $200 extra and I was good for it.  At this time I hadn’t placed a bet in about a year.  I lost that $200 but started to look at football as a way to make some extra cash if I got good at reading the lines.  The next week I placed a few bets and won about $550.

With money flush in my account I was looking at the lines for the following week with excitement to make some money.  But when it’s Tuesday, NFL Sunday seems so far away.  In the corner of my eye I saw the online blackjack tables.  To pass the time I was playing $1 and $2 hands.  Again, I like action.  This eventually turned into $25 hands which turned into three $25 hands at a time.

The blackjack hands at an online casino take about three seconds to play.  A couple mouse clicks and it’s the next hand.  My blood was pumping so fast while playing I would mis-click buttons and lose money.  There were times when I would have three hands of $300 playing at the same time.

This behavior lasted for about three months.  It finally concluded when I placed one large (over $2000) bet on a football game.  It was a smart bet and i won it.  All told, when i called the website this past week they said in that four month period i had deposited over $8500 into their system.  Luckily I had cashed out with almost $11,000.  I really thought I had made more (any surprise their?).

Present Day – The Responsible Years

I have had quite the turnaround in the past year.  My cash flow is out in the open and it’s all from reliable sources (employers).  I haven’t placed a bet since that large bet in early December.  I have made a permanent change for the better.

One of my brothers and i made a commitment to each other that we would not place a single bet this year (table games or football).  I don’t know how he is doing with his end of the deal but I have not made one single bet (even a friendly wager amongst friends).

I also discovered the power of personal finance and the knowledge that one can really win the race with a slow and steady approach.  They may not know it, but several personal finance bloggers have been an inspiration to me and have kept me on a path towards accumulated wealth.  I thank each of them for that.  (Going to have to give thanks in particular to J. Money at Budgets are Sexy.  Without his advice I wouldn’t have written about this topic and maybe one of you wouldn’t have had the opportunity to learn from my mistakes.)

69 Responses to Confessions of an Internet Gambler – My Biggest Financial Mistake
  1. Lenny Enderby
    April 19, 2018 | 8:06 am

    I simply want to mention I am all new to weblog and truly loved you’re blog. Very likely I’m likely to bookmark your blog post . You surely come with good posts. Thanks a bunch for sharing your blog.

  2. Rets Pro Ripoff
    April 19, 2018 | 11:37 am

    RETSPRO reviews and information are typically easily available throughout our discussion boards. RETSPRO serves an important online community of developers and real estate teams who require the ultimate flexibility inside their IDX output. RETSPRO rets plugin is the best software program for any real estate website developer. RETSPRO was built specifically for web developers to allow them with the tools to truly customize a website for their real-estate clients.

  3. Health and Fitness
    April 19, 2018 | 12:24 pm

    Very nice post. I just stumbled upon your blog and wished to say that I have truly enjoyed surfing around your blog posts. In any case I’ll be subscribing to your feed and I hope you write again soon!

  4. Health and Fitness
    April 19, 2018 | 1:00 pm

    I really like your writing style, great info, thank you for posting :D. “All words are pegs to hang ideas on.” by Henry Ward Beecher.

  5. Health and Fitness
    April 19, 2018 | 2:33 pm

    great submit, very informative. I ponder why the other specialists of this sector don’t notice this. You must continue your writing. I’m confident, you’ve a huge readers’ base already!

  6. Health and Fitness
    April 19, 2018 | 7:56 pm

    I dugg some of you post as I thought they were very useful very useful

  7. Health and Fitness
    April 19, 2018 | 9:44 pm

    I have been absent for a while, but now I remember why I used to love this site. Thank you, I¡¦ll try and check back more often. How frequently you update your site?

  8. Health and Fitness
    April 19, 2018 | 10:37 pm

    Great web site. Lots of helpful information here. I¡¦m sending it to a few friends ans also sharing in delicious. And naturally, thank you in your sweat!

  9. Health and Fitness
    April 19, 2018 | 11:07 pm

    Absolutely pent subject material , thankyou for selective information .

  10. Health and Fitness
    April 20, 2018 | 4:31 am

    Thank you for the auspicious writeup. It in fact was a amusement account it. Look advanced to more added agreeable from you! By the way, how can we communicate?

  11. Health and Fitness
    April 20, 2018 | 6:17 am

    Good ¡V I should definitely pronounce, impressed with your site. I had no trouble navigating through all the tabs as well as related info ended up being truly easy to do to access. I recently found what I hoped for before you know it at all. Quite unusual. Is likely to appreciate it for those who add forums or something, site theme . a tones way for your client to communicate. Excellent task..

  12. Health and Fitness
    April 20, 2018 | 8:51 am

    Magnificent goods from you, man. I’ve understand your stuff previous to and you’re just extremely great. I actually like what you’ve acquired here, really like what you’re saying and the way in which you say it. You make it entertaining and you still care for to keep it sensible. I can’t wait to read much more from you. This is really a wonderful web site.

  13. Health and Fitness
    April 20, 2018 | 10:01 am

    I’ve recently started a blog, the information you provide on this site has helped me greatly. Thanks for all of your time & work. “The man who fights for his fellow-man is a better man than the one who fights for himself.” by Clarence Darrow.

  14. Health and Fitness
    April 20, 2018 | 1:58 pm

    Some really superb blog posts on this web site, thanks for contribution. “An alcoholic is someone you don’t like who drinks as much as you do.” by Dylan Thomas.

  15. News
    April 20, 2018 | 2:27 pm

    I just couldn’t leave your web site before suggesting that I actually loved the usual info an individual supply on your guests? Is gonna be back often in order to check up on new posts.

  16. Health and Fitness
    April 20, 2018 | 9:37 pm

    Very interesting topic , regards for posting . “Nothing great was ever achieved without enthusiasm.” by George Ellis.

  17. Health and Fitness
    April 20, 2018 | 10:16 pm

    I’ve been absent for a while, but now I remember why I used to love this blog. Thank you, I will try and check back more frequently. How frequently you update your site?

  18. Health and Fitness
    April 20, 2018 | 11:48 pm

    It’s perfect time to make some plans for the future and it’s time to be happy. I have read this post and if I could I wish to suggest you some interesting things or advice. Maybe you could write next articles referring to this article. I desire to read more things about it!

  19. News
    April 21, 2018 | 1:34 am

    Some really superb content on this internet site , regards for contribution.

Leave a Reply


Wanting to leave an <em>phasis on your comment?

Trackback URL http://mynextbuck.com/confessions-of-an-internet-gambler-my-biggest-financial-mistake/trackback/