The Gambling Lie That Ruins People

Ramit Sethi breaks down how app-based gambling platforms use sophisticated language to hook people into addiction. A 19-year-old turned $1,000 into $40K then lost $20K. One bettor lost $2.7M despite a 56% win rate. The lie "I'll win it back" has cost people their savings.
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I'll win it back. That one sentence has cost people thousands, sometimes everything they have. When you think of gambling, you might think of someone drooling at a table in Vegas, but that's not how it looks anymore. A lot of times it's the person right next to you at work on their phone during a break. And today we're going to watch exactly how that type of thinking spirals. My team pulled together real gambling stories, people who kept doubling down until it got Out of control. By the end of this video, I'll give you a simple test to spot when you've crossed the line from entertainment into something much more dangerous. All right, let's see the first one.
There's a website that will let you invest into the outcomes of like anything.
Before we begin, I just want to point out that he has a bottle of Pellegrino as decoration on his wall. Everyone has different decoration styles. I don't mind.
Will Trump say skibidi before the election? There's over $70,000 riding on that. Will he post a TikTok by Friday? Will TikTok get banned? I want to deposit $1,000 into this website and see if we can flip it into $50 million by— it's due next Saturday. No, but well, I'm not going to limit my blessings. But the real challenge will be, can we outperform a coin? So I created a second account, named it Coin Flipper, and also gently placed a band inside of it. This account would partake in 10 different markets.
$1,000.
Okay.
So I went through, flipped the coin, and things On the screen, you can see all the final positions.
So I think this is pretty interesting and pretty amusing. It's like, hey, I'm going to try all these things.
It's cool.
I do want to point out that there are games being played here that might not be obvious to you. So this person is making this bet. We're going to see what happens. But let's just look down. He has 1.55 million subscribers. This video got 1.1 million views. Y'all, I have videos that have gotten a million views, and I can tell you how much money they make, particularly in the financial space. Do you see my point? It's one thing to say like, oh, I'm watching this guy do a coin flip. This is really interesting. Maybe I should try it. But often the people sharing these videos have multiple revenue sources that are not apparent to you. There's a game being played around you. If you tried to copy this, you may win, you may lose. You're probably gonna lose. But you don't have the $10,000+ coming in from a video like this 'cause you don't have 1.55 million subscribers. Let's keep going.
Basically, these markets are liquid and your shares can fluctuate in price before the market is resolved, and you could buy or sell them at any point. So you can kind of actually trade on here.
I really like all these words that make people feel smart. Liquid, resolved. It feels like you are entering a higher level of life. I think you should know what liquidity means. I think you should understand some of these concepts. You know what? As I'm saying this, I realize none of you care. If I'm sitting here saying like, hey, it's actually really important to understand low-cost, long-term investing, the very people who already agree with me, you're like, yeah, you're clicking like on this video, subscribe. That's great. But everyone else is like, fuck this old man. Okay? And I get that. Sad thing is I don't want to wait for 24-year-old men to lose a bunch of money and end up 40, 43, 45, and be even in a more hopeless position. But there is nothing that somebody like me can say that will cause a younger man to change the way he looks at money. I could show you the math. You know you're going to lose money. That will not change until you change here. And deep down, many people, particularly young men who are involved in gambling, do not believe they have any hope. There are a lot of stories already coming out about Polymarket and how it is rife with insider trading. Even people involved in military operations betting on the results of those military operations. There was a person who was arrested for that, but a lot of people are not even being caught. If you are participating in any of these, you are essentially walking in a casino where everyone is trying to pick your pocket. You feel like you have a meaningful chance at winning, but realistically, they're all making money and you're the last one trying to figure out how to make 5 cents. Best thing you could do is just simply not walk in this casino. All right, I want to see what's next.
So today I'm going to talk about how the relapse happened for those that are interested.
You do not see this very often. A young woman talking about gambling. This is quite rare.
Okay. So this is going back from Now, I think 3 weeks, or was it 2 weeks ago where I, I first had a bit of a lapse and then it continued on and then obviously the other day happened. I get paid into my mum's account, as you know, and that still stands. My wage goes into her account and so does my Universal Credit because I get part Universal Credit just because I don't earn enough. That, that's been happening, that's been working really well. Now, I was still getting my child benefit paid into my account, which some of you are going to think that's stupid, why are you doing that? And the reason being is, is because I set up an ISA for my daughter and I planned for that child benefit, which is £100, to go straight into the ISA. Now, the problem was, was when I first initially set up the date that the ISA would take the money, it obviously is different because I don't get child benefit the same day each month. I get it paid 4-weekly. So I was finding that it wasn't going to be taken out for a few days and then the money would be sitting there. And obviously, as a gambling addict, if money's sat there, I'm going to gamble it.
Did you catch what she just said? She said the money would be sitting there for a few days, and as a gambling addict, if the money's sitting there, of course I'm gonna gamble it. I think we need to acknowledge in all these videos that I'm watching, we are not talking about people making rational decisions. She is a gambling addict. There is a behavioral and mental aspect to this that is not as simple as saying just stop doing this. People have ruined their lives because of this addiction. Just the same way you would not tell an alcoholic, hey, just stop drinking, you cannot simply tell a gambling addict, don't do this. And what I appreciate about these videos is we are destigmatizing gambling addiction. You may have heard people say that food addictions or alcohol addictions are particularly difficult because it's ever-present. Everywhere we go, We can get food, we can get alcohol. But think about it, only recently have we been able to get gambling everywhere we go. And if you are a gambling addict or you have addiction tendencies, think about how difficult it is to know that in your pocket you could make $12,000 with a few clicks. We do need to acknowledge how difficult this is.
Which is so frustrating. And that happened basically. I thought, well, it's only £100. I can use the money that I've already got in my mum's account to pay into the ISA, so my daughter's not missing out in any way.
Very classic that you'll hear people minimizing the effect of the dollars. It's only £100. You hear this everywhere all the time. It's funny, in working with people for over 20 years, I've never heard people say, it's only $100 a month that I'm sending to my investment account, not that much. Never. But when it comes to spending on things that we want to or that we are addicted to, It's only £100.
And then lost it again within probably about half an hour. The next day comes, I go to work, I'm still thinking about gambling all day and thinking about that money that I'd built up on the casino and how I wanted to do that again. I come home and I ask my mum to borrow the phone. I say I want to check something and I start depositing money to my bank account. £100, £100, £100, just like I do normally when I gamble, but I'm doing it now through the bank account on my mum's phone. And I did build up a balance then again. And I'm thinking, I'm thinking to myself, I've done it again. This is amazing. But sure enough, of course, I continued to spin it and lose it all.
It's really sad. I also appreciate her sharing her story. This idea of money being something that she thinks about all day long. You know, this is common for people who are poor. It is something you think about all day long because a lot of times you are rationally planning out how am I going to pay that bill? How am I going to buy those shoes that I need because my other shoes have a hole in it? Gambling addicts are often thinking about money all the time, but not out of need. It's a compulsion. My hope for everyone involved in gambling addiction is that they seek help. There are a lot of resources, a lot of people out there that can help you. And it will be difficult because ultimately you will have to uninstall apps from your phone. You will have to physically separate yourself from certain things that you used to take for granted. Perhaps worst of all, you'll have to— Drop a community that you may have built which gave you a lot of endorphins. It's gonna be tough, but I do think it's a very important thing to do if you find yourself addicted to gambling. Wow. I'm currently a 19-year-old sophomore in community college, no debt or payments. I'm living with my parents. I have lost roughly $20,000 day trading, sports betting, options. I earned this money through long weeks during my junior to senior year of high school I got super lucky one day, struck big, then lost it all in 2 weeks. I decided to put $1,000 into sports betting for fun, turned that into $40K the same weekend, etc. I noticed that each time I win, I lose a part of myself. I tell myself to pocket the winnings and move on, but I simply want more and it never really ends. I am 99.9% sure I have a gambling addiction. Most individuals say, dude, just stop. It's that simple. You don't think I'm trying? I'm sick and tired of hearing it because it hasn't been that easy. This has broken me mentally and physically. We used to run a fitness and food program in my business. We hired a full-time personal trainer and we spent a lot of time going deep into the psychology of their food and fitness. One memory I have that I'll never forget is people in our program telling us how they felt when they sat down to eat. Many of them described that moment as fighting a battle. They said, the cheesecake literally speaks to me. It talks to me saying, eat me. And every meal they are fighting a war against that bag of chips or that salty snack or the chocolate. And you go, oh my God, you have to have compassion for someone who has been fighting a battle that you might have never been aware of. Here we can see that same thing happening. He said, "You don't think I'm trying? This has broken me mentally and physically. Sometimes I can't even look at myself because I'm a failure." There are so many similarities between what this person is saying and food addiction and alcohol addiction. You don't think I'm trying? And the reason I share this is that number one, if we have not experienced this, we can never truly understand it. And the second thing is the top comment, which is. Call the gambling hotline. You need professional help. Don't care what you think, do it. That's exactly right. Some things we cannot solve on our own, and they are so important we need to drop everything else and make this our number one priority. Gambling addiction is one of those things. If somebody came to me for help with their gambling addiction, the first thing I would do is I would watch them as they called one of these resources that I'm going to put up on screen here. Calling them, engaging with them, and following their directions. And I would encourage them on a few things. Number one, we all have areas of life that we need help with. Number two, none of us is too smart for help. Doesn't matter how smart you think, how close you are to winning next time. This is a major problem. Would you agree? It's time to get help. If you want to understand how to actually build wealth and avoid mistakes like this, hit subscribe. Let's keep going. I lost $2.7 million betting on sports, but it's not why you think. Because as a professional sports bettor, I only won 56% of my bets. And even though I lost $2.7 million in bets, I also won $3.3 million, making me a— Get the fuck out of here. Oh wow, 17 likes and 1 comment. All right, let's do a little deep dive on who this person is. I've made over $600,000 from sports betting. Now I'm helping you guys Do the same. Okay. Oh wow, premium picks. He's got a free Discord and he's got a Twitter account.
Let's take a look.
Y'all see that Manosphere Netflix documentary and they talk about how one of these fucking losers has this huge Discord and the very things that he preaches, he does the opposite on his Discord. I would say if you are a 22 to 30-year-old man, if you're on Discord, you might be a huge fucking loser because it's really easy to take All these people who want a better life, bring them into the darkness of Discord, and then just scam the shit out of them. Why can't you post this stuff publicly, huh? Why can't you? Oh, you can't because when people see it, they will realize how absurd it is. What if I were to ask you today, what are the 3 key steps you can take so that you will have $100,000 invested? Would you know the answer? A lot of people would just say the same thing they've been doing. Uh, we should probably cut back on coffee. Okay, how's that going to turn into $100,000? Uh... If you are ready to stop focusing on these tiny little things that don't really work in the grand scheme anyway, then the approach is to focus on getting to $100,000 invested. Because once you have $100,000 in your portfolio, you can see compound interest working and you can realize how long it's going to take you to turn to $200K, $500K, $1 million, $1.5 million. The numbers start to become inevitable, not a dream. That is why we created Road to $100K. Inside of Road to $100K, you're going to understand exactly where you stand today. You will know the month and year that you will have $100,000 invested and a step-by-step plan of how to get there. You're also going to get access to live coaching, including from me, and a community of people who are working on the same goal so you can share all of the things that are working and avoid the mistakes that are not. And if you are ready to elevate beyond playing small and worrying about logging into your apps every day, and you are ready to start achieving big goals like $100,000 in your portfolio, you should join 100K. You can scan the QR code on screen or click the link in the description below.
Normal everyday things you have to deal with if you're dating someone who loves to sports gamble. An addict. You'll be at dinner and their phone will be on the table and it'll light up with a text message that says, send pics. But it's not from another girl, it's from his group chat of other degenerate gamblers wanting today's pics.
Wait, is this person actually dating a gambling addict? Forgive me for saying this, but this seems almost like kind of funny But how could you be in a relationship with a gambling addict if you know that they are a gambling addict? Specifically, if they are not taking steps to change it. Like, is this one of those things you just go, oh, okay, like, yeah, they're a gambling addict, hahaha, this is kind of annoying, haha? I don't find this funny at all. Let me finish the video because I might be reading this wrong.
Another thing you have to do is learn an entire new language. For example, Cooking does not mean he's cooking in the kitchen. It means he's on FanDuel. Same goes for in the lab. He's not a scientist. He's betting on the maxion.
This reminds me of all the TikTok videos I see from young women complaining about men's dating stories, like when they go out on dates. I love these videos. I watch them all day long on my feed. I feel so sorry for some of the women who encounter these guys. And one of the things that They will often talk about is how these men basically mansplain things to them that the women are like experts at. Like some guy who got a community college degree is explaining what lawyers actually do, and the woman is like a partner at a law firm. It's like, in what fucking world is this okay? For example, if you're talking to a trader, you might as well just get up and leave. Let's just eliminate the middleman. I don't even want to be in the same room as a trader. Need to take an industrial-strength shower to wash that off of me. What does a trader have to teach me, a low-cost, long-term investor? I don't need to know about your fancy charts. Hold a candle! You all sit there and make fun of women for being into astrology. This is astrology for men. This and Joe Rogan. And you sitting here listening to it and going, oh, it's so interesting. Let me teach you. Let me not. I don't need to be taught a single thing by a trader.
Cake, caked, Cooked all mean it's over and we lost money. Also the phrase a can't lose, like a can't lose bet, will always lose. Another thing you get to do is watch 12 games all at once. That's impossible to do. No, it's not, because he will have 3 TVs with 4 games on each TV.
What the fuck did I tell you? Multiple monitors with the guy watching stuff, and once every 42 minutes, he'll turn around and explain something to you. How can you let yourself be in this situation?
Another thing you get to do is listen to all of the things that would be possible if this just hits. It never hits. But you're the girlfriend, so you just have to sit there and be really supportive. And when people ask if he has a problem, you have to smile and say no. He's really good at gambling.
Is this a joke? I can't— I gotta look at this person's account. Is this a joke? Oh wait, is she a gambling addict too?
Hold on.
I think she's a gambling addict too. She's get—
look at this.
She's betting on the Detroit Pistons. Something tipped me off here. Nobody talks about their boyfriend in this funny, funny way, hahaha, unless there's something else going on. That's why I'm like, there's no way, because partners of gambling addicts, deep down they know something is wrong, but their solution is to avoid talking about Because if they talk about it, the way that their boyfriend or husband reacts is to first of all condescend to them, and then to get really angry so that this person who's probably already chosen because they're not particularly assertive goes, okay, you're right, I trust you, goodbye, I'll come back, need any snacks? They don't talk like this person. If you want to gamble, have some fun, fine. There's a rule that I want you to follow, which is it has to be entertainment. This is not a strategy for your overall wealth. You set a fixed amount. That is the amount that you are going to gamble with. That money should come out of your guilt-free spending, and you know that you're going to be totally fine if you lose it. Once it's gone, it's gone. Anything beyond that, you're not playing a game anymore.
Why?
I already set a limit before I walked in here. The goal is simple. Your money grows in the background and you stay in control. If you want to make sure your money is working for you instead of gambling with your future, Watch this video next. I'll show you the exact framework to build a system that makes growing wealth simple.










