Some young local gamblers who wanted to take advantage of the World Cup to win a fortune gambled more and more as they got excited, and also to get back their money. However, the more they gambled, the more they lost.
28-year-old engineer David (pseudonym) told TODAY that he has always placed bets during major events such as the World Cup because he thinks it is a good opportunity to make money.
In the last World Cup, he was still a student with no income, and his bets were relatively small. Now, he not only has income, but also has the convenience to place bets through illegal websites. His bets this time are about ten times higher than before.
He bet $200 to $1,000 on each game, and lost nine out of ten bets, estimated to have lost $10,000 to $15,000.
Melvyn (pseudonym), a 30-year-old gambler who bet on almost every game, mostly does so through illegal websites.
At first, he only bet $20 to $30, and the more he lost, the more he wanted to recoup his bets. He bet $3,000 to $5,000 in a game, but he still lost more than $10,000, which is equivalent to his salary of three to five months.
He said that every time he lost, he would tell himself that he would not bet again, but he still couldn’t resist the temptation to get back his money.
“If you say it it’s not painful, you’d be lying, and it still hurts.”
Nicholas Teo, a 27-year-old social media content creator who also bet on almost every game, was lucky to win about $2000, but he pointed out that betting can be won or lost, and the heart is never satisfied.
He only bets through legal platforms and said that he will only bet the amount he can afford to lose. He believes that everyone should only bet with money that they don’t need. “So whether I win or lose, it doesn’t matter much to me.”
Addiction therapists: More young gamblers turning to help
An addiction therapist interviewed pointed out that she found that more young clients gambled during the World Cup.
Addiction therapist Juliana Pang said betting within the means is not a problem, but when a person starts betting with living expenses, or with borrowed money, the problem starts.
She also pointed out that betting more in order to break even “is not a valid winning strategy”.
The negative consequences of gambling go beyond losing money, she said, but can include conflict with loved ones, less time and energy spent on healthy, money-making activities, low energy, low mood and anxiety about running up debt.
Some gamblers have contemplated committing suicide because they cannot pay their debts and face pressure from lenders.
She points out that gamblers can turn to an addiction therapist, and she helps people with gambling addiction understand that any addiction is actually an illness. A therapist may also assist addicts in thinking of strategies to keep them from gambling again.