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08-09-2011, 07:42 AM
The Straits Times
Sep 8, 2011
'I lost $600,000 in six months at Resorts World Sentosa'
Tim, 34, a father of two, is in debt to the tune of $600,000. He attended a gambling counselling session last Saturday night organised by One Hope Centre.
'GROWING up, I detested my father because he subjected the family to much fear and harassment.
He was a compulsive gambler who would deliberately find funerals to visit just so he could play card games like blackjack.
From the age of six, I was exposed to the violence and scare tactics of loan sharks. They would splash paint on the walls, slam and break all our potted plants along the corridor, and bang on our windows every other day at midnight, just when all of us were about to doze off.
From then on, I promised myself that I would never follow in my father's footsteps.
I studied hard, despite not having enough money for food, books or uniforms.
When I got into the IT (information technology) and computing course at one of the local universities, I was overjoyed. I became a student leader and participated actively in school.
So it seems such a cruel joke that today, I find myself in a much worse situation than my father was in.
I have reached the point where I have almost thrown away a promising career, blown my savings and investments, and almost lost what is most dear to me, my family.
I guess I can now understand what my father went through.
I started gambling in casinos on cruise ships, and when the two casinos opened here, I gambled there.
When you are on a winning streak, you feel like a hero.
At Resorts World Sentosa (RWS), I could easily make $100,000 in 48 hours, from an initial capital of $2,000.
Making money seemed easy. Life seemed easy.
Then, I thought that in life, working hard wasn't enough, and working smart was the key. What I earned in a month, I could easily make in three visits to the casinos.
It was a fantasy world that I was living in.
The high life was suddenly accessible; I was driving a European luxury car, and would change cars every two years. In my heyday, I would splurge close to $400,000 on luxury watches.
I stayed mostly at RWS, where my loyalty points translated into free stays and free food. Every other week, I would take my kids to the resort to swim or play.
But I learnt, painfully, that in gambling, there is no such thing as a sure bet. I hit rock bottom when I lost $600,000 in six months at the Resorts World Sentosa casino. Baccarat suddenly became more dangerous than it seemed.
One-third of that amount came from my savings and the rest was borrowed from banks, loan sharks and friends.
The funk I sunk into thereafter was bad enough not only for me to think about suicide, but to also contemplate taking the lives of my wife and two kids.
Thankfully, I was introduced to One Hope Centre about nine months ago, and I started getting my life back in order.
My wife has been my pillar of support; she accompanies me to all the support group sessions. I have been going to the sessions for almost nine months now.
My plea to those who are still hoping to get rich through gambling is this: Please stop being foolish, and retreat when you still can.
If you find yourself already addicted to gambling, please seek help - if not for yourself, at least for your loved ones.'
JANICE TAI
Sep 8, 2011
'I lost $600,000 in six months at Resorts World Sentosa'
Tim, 34, a father of two, is in debt to the tune of $600,000. He attended a gambling counselling session last Saturday night organised by One Hope Centre.
'GROWING up, I detested my father because he subjected the family to much fear and harassment.
He was a compulsive gambler who would deliberately find funerals to visit just so he could play card games like blackjack.
From the age of six, I was exposed to the violence and scare tactics of loan sharks. They would splash paint on the walls, slam and break all our potted plants along the corridor, and bang on our windows every other day at midnight, just when all of us were about to doze off.
From then on, I promised myself that I would never follow in my father's footsteps.
I studied hard, despite not having enough money for food, books or uniforms.
When I got into the IT (information technology) and computing course at one of the local universities, I was overjoyed. I became a student leader and participated actively in school.
So it seems such a cruel joke that today, I find myself in a much worse situation than my father was in.
I have reached the point where I have almost thrown away a promising career, blown my savings and investments, and almost lost what is most dear to me, my family.
I guess I can now understand what my father went through.
I started gambling in casinos on cruise ships, and when the two casinos opened here, I gambled there.
When you are on a winning streak, you feel like a hero.
At Resorts World Sentosa (RWS), I could easily make $100,000 in 48 hours, from an initial capital of $2,000.
Making money seemed easy. Life seemed easy.
Then, I thought that in life, working hard wasn't enough, and working smart was the key. What I earned in a month, I could easily make in three visits to the casinos.
It was a fantasy world that I was living in.
The high life was suddenly accessible; I was driving a European luxury car, and would change cars every two years. In my heyday, I would splurge close to $400,000 on luxury watches.
I stayed mostly at RWS, where my loyalty points translated into free stays and free food. Every other week, I would take my kids to the resort to swim or play.
But I learnt, painfully, that in gambling, there is no such thing as a sure bet. I hit rock bottom when I lost $600,000 in six months at the Resorts World Sentosa casino. Baccarat suddenly became more dangerous than it seemed.
One-third of that amount came from my savings and the rest was borrowed from banks, loan sharks and friends.
The funk I sunk into thereafter was bad enough not only for me to think about suicide, but to also contemplate taking the lives of my wife and two kids.
Thankfully, I was introduced to One Hope Centre about nine months ago, and I started getting my life back in order.
My wife has been my pillar of support; she accompanies me to all the support group sessions. I have been going to the sessions for almost nine months now.
My plea to those who are still hoping to get rich through gambling is this: Please stop being foolish, and retreat when you still can.
If you find yourself already addicted to gambling, please seek help - if not for yourself, at least for your loved ones.'
JANICE TAI
My Value Investing Blog: http://sgmusicwhiz.blogspot.com/
