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  • #9365
    Clarity
    Keymaster

    Hello, my name is Amit. Up and till I was gambling I was a well to do person, with a good job and wonderful wife, whom I have been married to for 4 years. I obtained a good degree from reputable university and used to enjoy exotic holidays and driving a nice car. I was living the perfect dream. Then one day I got GREEDY… gambling losses. Because of my background in Finance, I started to take an interest in spread betting. Spread betting allowed me to speculate on the price movement of any financial market. However it is a leveraged form of gambling, therefore my gambling losses could easily exceed my initial deposit. So I used to take a punt if I thought the shares of Company A were going to rise. Although different to other forms of gambling, the psychology and addiction behind my actions were the same… “was just trying to win back my gambling losses”. With spread betting, it was so easy to place a bet to buy shares of Company A and if I was I loosing I would reverse my bet and start selling, hoping the market would move in my favour. Emotions ran high and I didn’t know when to stop. The worst thing any person gambling can do is get carried away by their emotions, because this is when they start to place more and more bets and end up accumulating their gambling losses. Racking up my gambling losses It got to a point where I had used my savings and then started to use my wife’s savings, without her having any knowledge of what I was doing. Having eventually lost a few grand, I was desperate to stop gambling. I had to come clean with my wife for the sake of our marriage. The most courageous thing any unsuccessful gambler can do is to tell someone to seek help. gambling losses My wife took over our finances and this was the beginning of a changed me. She closed my spread betting account and closely reviewed our bank statements, so there was no way I could continue to participate in gambling. My recovery and the end of my gambling losses After a year of gambling, I was desperate to work hard to recover my gambling losses. I looked at various opportunities and decided to sell beauty products on eBay in my spare time. It took up a look of time as I had to do everything from negotiating and sourcing goods to advertising and postage and packaging. For the time I had put in, the rewards were very little!– 7/26/2013 8:05:23 AM: post edited by harry.

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