Tiger wins and a gambler wins $1.2M starts as a good story... details make you cringe

[AUS-97HORN 11,878]

this may actually be the worst story i've read on gambling in a long time.

Im NOT mad at the guy betting on Tiger and winning $1.2M.  A lot of people bet on Tiger so thats pretty awesome.

What I am mad at is the circumstances this guy went about betting on Tiger, and how the story is presented as a feel good story.

But once you read into it, and its a terrifying story for this guy if Tiger had lost.  This is literally the guidebook to how to become a broke gambling addict.

whole story is below, but the gist is, this guy was $25k  in debt just 4 months ago.  Hit business went under, and its not explained how he managed to get out of $25k in debt in the last 4 months. 

 

He claims that he's never made a sports bet in his life, yet,  he bet every last dollar he could "afford" on Tiger winning the masters because he had a good feeling.  (afford is in quotes because it turns out this guy couldnt afford the loss)

He's taken a loan out on his house, sold his amazon stock, and he's told his wife he's making the bet, and she just lets him do it.  and then he takes $85k with him to Vegas and has to run around to find a sportsbook that will take a bet of that size, and finally William Hill accepts the bet  and presto we all get the story of how this guy got 14/1 odds on Tiger winning and $85k turns into $1.275M

https://ftw.usatoday.com/2019/04/masters-tiger-woods-bettor-james-adducci-who-won-million

[po elvis 2,091]

if he was smart, he documented the whole thing on video. that would be worth more than the actual bet. actually, he could have vlogged it and even if Tiger had lost, the video of him doing this would have easily got his $85k back. but with Tiger winning, the video would be worth a lot. he will probably make good money from the movie that will come from this anyways.

 

hell, these days, he could have lost the bet, the story comes out, and someone would have started a gofundme that raises $500k for the guy.

Edited April 16, 2019 by po elvis

[Nueces River Rat 5,599]

1 hour ago, po elvis said:

if he was smart, he documented the whole thing on video. that would be worth more than the actual bet. actually, he could have vlogged it and even if Tiger had lost, the video of him doing this would have easily got his $85k back. but with Tiger winning, the video would be worth a lot. he will probably make good money from the movie that will come from this anyways.

 

hell, these days, he could have lost the bet, the story comes out, and someone would have started a gofundme that raises $500k for the guy.

If he was smart, he would have  kept quiet about his winnings.  

Now every long lost  relative, friend and scam artist in Wisconsin is stopping by his house to say hi. 

[housious 468]

31 minutes ago, Nueces River Rat said:

If he was smart, he would have  kept quiet about his winnings.  

Now every long lost  relative, friend and scam artist in Wisconsin is stopping by his house to say hi. 

Meh. He’s going to clear what, $700-800k? Family is t going to get much.

[AUS-97HORN 11,878]

1 hour ago, housious said:

Meh. He’s going to clear what, $700-800k? Family is t going to get much.

its like you've never read the stories of lottery winners,    no one thinks about the taxes ( even after 25% is taken out automatically when you win that much), and the family peer pressure is really really tough, everyone asking for $5k-20k and the pressure to give them something happens to a shit ton of lottery winners, next thing you know they spent $600k on themselves, gave away another $250k... and they suddenly realize that while they won $1.2M, the taxes are $500k, and hes spent/given away $100k more than he owes in taxes.

[pops 7,044]

 

[Nueces River Rat 5,599]

7 hours ago, housious said:

Meh. He’s going to clear what, $700-800k? Family is t going to get much.

Would you let the cat out of the bag you have an additional 800K to your name?   I wouldn't disclose if I won 10k or even less because every one who wants to try to get some cash from me  is going to assume you have the cash to spare,  like asking for a Benji or Two is not going to set me back too much.   A Benji here and Benji there sooner or later adds up to real money.  

I'll spend a couple of bucks on the lotto once they get up over a certain number and when I get into conversations with other  about what we'd do if we won and I tell them you'd never know I won.  Thankfully in Texas you can remain anonymous for one and on top of that, you can have it claimed by Trust.   I'd continue to invest in my business I starting to the point I could hand the day to day operations to a well paid and trained management team and then and only then would I start showing some bling on a personal level like upgrading my truck, maybe some personal and investment real estate purchases, etc.   But my own kids wouldn't know where my wealth to get all that started came from and it would be like that until I die.  

[Nueces River Rat 5,599]

26 minutes ago, pops said:

 

And here is Exhibit A on why you should shut up when winning a chunk of cash or a really lucky bet.  

[Llano Estacado 1,257]

its like you've never read the stories of lottery winners,    no one thinks about the taxes ( even after 25% is taken out automatically when you win that much), and the family peer pressure is really really tough, everyone asking for $5k-20k and the pressure to give them something happens to a shit ton of lottery winners, next thing you know they spent $600k on themselves, gave away another $250k... and they suddenly realize that while they won $1.2M, the taxes are $500k, and hes spent/given away $100k more than he owes in taxes.

Correct.

On top of that the CBSNews blurb I read about him said his “job” was day trading and he was thinking of using the winnings to place more sports bets.

“I’m on a hot-streak. I hit on 14-1 on a feeling, I’ll just take a small 10k flyer on this 20-1 and still be up...”

[Your Mom 4,871]

A guy with his track record isn’t going to handle that money very well. It’ll go to some other failed business or stupid impulsive expense next and he’ll be broke again. 

[ChiTownDoc 21,225]

On 4/16/2019 at 7:51 PM, Nueces River Rat said:

Would you let the cat out of the bag you have an additional 800K to your name?   I wouldn't disclose if I won 10k or even less because every one who wants to try to get some cash from me  is going to assume you have the cash to spare,  like asking for a Benji or Two is not going to set me back too much.   A Benji here and Benji there sooner or later adds up to real money.  

I'll spend a couple of bucks on the lotto once they get up over a certain number and when I get into conversations with other  about what we'd do if we won and I tell them you'd never know I won.  Thankfully in Texas you can remain anonymous for one and on top of that, you can have it claimed by Trust.   I'd continue to invest in my business I starting to the point I could hand the day to day operations to a well paid and trained management team and then and only then would I start showing some bling on a personal level like upgrading my truck, maybe some personal and investment real estate purchases, etc.   But my own kids wouldn't know where my wealth to get all that started came from and it would be like that until I die.  

JFC, what kind of sharks do you live around?  You would hide winning 10k?!  I was born in a 50k house in Lubbock.  I’ve got lucky and do well and have had zero people hit me up for money.  I’m an asshole but generous to a fault with tips etc. 

Anyways, sorry for the rant, this guy has bigger fish to fry.  

[Nueces River Rat 5,599]

30 minutes ago, ChiTownDoc said:

JFC, what kind of sharks do you live around?  You would hide winning 10k?!  I was born in a 50k house in Lubbock.  I’ve got lucky and do well and have had zero people hit me up for money.  I’m an asshole but generous to a fault with tips etc. 

Anyways, sorry for the rant, this guy has bigger fish to fry.  

I wouldn’t hide  per se.   I just wouldn’t be boisterous about winning a nice chunk of change and would keep publicity to zero if I could.  I’m a generous guy, but I kind of like to choose who I give money too. 

[ChiTownDoc 21,225]

5 minutes ago, Nueces River Rat said:

I wouldn’t hide  per se.   I just wouldn’t be boisterous about winning a nice chunk of change and would keep publicity to zero if I could.  I’m a generous guy, but I kind of like to choose who I give money too. 

Definitely agree on last part.  And fuck people who mooch.  

[DougO 5,257]

On 4/16/2019 at 7:24 PM, pops said:

 

Shocked and stunned...

[satyanash 14,780]

On 4/16/2019 at 12:59 PM, housious said:

Meh. He’s going to clear what, $700-800k? Family is t going to get much.

I'm always reminded of the story of Jack Whittaker when I read about people winning large sums of money. Coming into millions of dollars can legitimately destroy your life. Never underestimate people's capacity for greed and cruelty.

[DaggerHorns 3,106]

On 4/24/2019 at 9:10 PM, ChiTownDoc said:

JFC, what kind of sharks do you live around?  You would hide winning 10k?!  I was born in a 50k house in Lubbock.  I’ve got lucky and do well and have had zero people hit me up for money.  I’m an asshole but generous to a fault with tips etc. 

Anyways, sorry for the rant, this guy has bigger fish to fry.  

Isn’t everyone here an asshole?

[pops 7,044]

Geezus fucking Christ. 

https://www.golfdigest.com/story/wisconsin-man-who-won-dollar12-million-on-tigers-masters-win-puts-six-figures-on-historic-grand-slam-bet

[AUS-97HORN 11,878]

well, if this idiot is going to lose money gambling it away, this is the year to do it, every dollar he loses from gambling he gets to write off his gambling win for the year.  But at this rate this clown is gonna lose all of it in 2 months

[Chewbacca 7,793]

7 hours ago, pops said:

Geezus fucking Christ. 

https://www.golfdigest.com/story/wisconsin-man-who-won-dollar12-million-on-tigers-masters-win-puts-six-figures-on-historic-grand-slam-bet

Just came here to post this.  What a fucking idiot.

[Braff Zacklin 13,672]

"I'm not a one-woman man, Leela."

"You'll be back to zero soon enough."

[Surly Bevo 25,523]

 

[Jebus 1,332]

I wonder what kind of odds William Hill would give me on this dude not surviving 2019. 

[housious 468]

Full retard

[Jebus 1,332]

Welp

[housious 468]

Don’t worry, I’m sure he’ll invest the rest of it wisely.

[tokamak 6,461]

On 5/3/2019 at 1:43 AM, satyanash said:

I'm always reminded of the story of Jack Whittaker when I read about people winning large sums of money. Coming into millions of dollars can legitimately destroy your life. Never underestimate people's capacity for greed and cruelty.

The point may be valid but that Reddit story is dumb.

"jAcK WhiTTaKeR diD eVeRyThInG RiGhT aND sTiLL eNdED uP bRoKE!!!"

Jack Whittaker: *leaves $500k in cash in his car, THEN AFTER IT'S STOLEN DOES IT AGAIN WITH $200K*

Owning a construction business in West Virginia worth a few mil on paper does not automatically qualify someone as a genius who knows how to manage money.

[ChiTownDoc 21,225]

On 5/3/2019 at 1:43 AM, satyanash said:

I'm always reminded of the story of Jack Whittaker when I read about people winning large sums of money. Coming into millions of dollars can legitimately destroy your life. Never underestimate people's capacity for greed and cruelty.

LOL, good read.  But the truth is if you had the brains to get it on your own, those people tend to end up ok.  If you won the lucky sperm club, then maybe you'll be ok if your family gets through to you (or actually tries put safeguards in place), but if you come from nothing and never had success of your own, winning 100M plus or even half that will likely leave you right back where you started - hope you enjoy the ride, at least.  The cocaine and hookers should be for you, not uncle Lenny.