Steps to recover from massive gambling (online) loss? Every week that I pay out sizeable amounts in the $5-15k range and feel so rotten. I win sometimes too - just only in the $1-2k range. I have blown all my life savings in the past 3 months to an online bookie I don’t even know. I have severe anxiety now and can’t sleep at night thinking about how I’ve ruined my life. This week on Wednesday I was down $7k, next day i miraculously covered that loss & was up $2k only to lose $11k in 6 hrs.

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Don't look to gambling to fix your gambling problem. I am a recovering person and I avoid gambling because I have started winning at the table and it engages the same thing. The thing with addiction is that what it starts when you're going doesn't end until you've lost. As I have heard, gambling addicts can't be satisfied by winning because you just need more so the natural process is that no matter how much you win you don't stop until it's gone. My advice is to cut your losses, pay it off the traditional way through your salary and then don't go back.

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Seek out a therapist who specializes in addiction. You seem to have a gambling addiction. Addiction is a serious mental health issue but can be managed through therapy. Take care.

As for steps to recover from the monetary loss, I don't have any get rich quick methods. My method is long term investments in index funds and a few individual equities.

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What SC1 said.

Also, medication might help. In addition to a therapist, talk to your primary care or a psychiatrist.

I wish you the best of luck.

Find your trigger my friend. I used to go to the local casino every weekend and blow thousands after a night out. I kept telling myself I could control it but knew it was tied to alcohol and wanting money for family. Happy to chat in DM. Gotta accept the losses and move on. I can estimate close to 20-30k gone. It sucks but if you do hit that jackpot night it’ll just lead to more losses

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This is not a professional advice or not sure even a good advice but one thing that worked out for me is I replace my worst addiction with a not so bad addiction. For example : I used to go to casinos almost every night. That affected my financials, my mental and physical health. So one day I decided to completely stop it and in order to divert my mind I started reading about Options investing. And for that I started learning about technical analysis on stocks strategies on option plays etc. so at least I think I am learning something while diverting my mind from really bad gambling.

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Options is also gambling and people lose one savings on it. But i am trying to not blindly bet on something but bet backing with research.

Check out gamblers anonymous. Your life will change and they will help you recover. DM me with any questions!

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Agreed about GA. It is a good community. They are there to help guide you with finances as well. Serenity Prayer is a valuable tool.

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