Story Time : How a Psychiatrist Couldn't Quit Gambling

General ✍️
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You’re not alone! There’s this great article on the WSJ about a Psychiatrist who tried to quit gambling (paywall). She ended up losing over $400K and has a really fascinating story. I’m going to give you the cliff notes from it and we can talk about why this is interesting and how it can help you quit. If even a psychiatrist has struggled with this, it’s easily understandable how you could have got wrapped up in it. The important thing is to quit, quit for good, and that’s what she did and what you need to do now.

Quick Summary

Kavita Fischer, a psychiatrist, fell into severe debt due to online gambling, losing over $400,000. Despite understanding addiction, she was hooked by the industry’s use of data tracking, VIP treatment, and bonuses. Her attempts to quit were thwarted by easy access and company incentives. She eventually banned herself from gambling apps (Self exclusion) and sought support through 12-step programs (gamblers anonymous) and professional help. (specialized gambling counselors)

Cliff Notes Summary

  • Kavita Fischer: Psychiatrist and homeowner, incurred six-figure debts due to online gambling.
  • Initial Win: Started with $750, won $500,000, but lost it all within a day.
  • Industry Tactics: Gambling companies used data analytics, VIP treatment, and bonus credits to keep her betting.
  • Escalating Debts: Used savings, retirement funds, and loans to fund gambling; incurred over $400,000 in losses.
  • Attempts to Quit: Tried setting limits and self-exclusion programs but failed due to easy access and company incentives.
  • Outcome: Banned herself from gambling apps, took a home-equity loan to pay debts, and sought help through 12-step programs.

Lessons for Problem Gambling Addicts

  1. Awareness of Tactics: Understand that gambling companies use sophisticated tactics to keep you playing.
  2. Data Tracking: Recognize how companies track your behavior and use incentives to encourage continued gambling.
  3. Self-Exclusion: Be persistent with self-exclusion programs despite initial setbacks.
  4. Seek Support: Join support groups and attend 12-step meetings to find community and support.

Why It’s Interesting

  • Psychiatrist’s Perspective: Offers insight from a mental-health professional who fell victim to addiction.
  • Industry Practices: Highlights the aggressive and personalized tactics of online gambling companies.
  • Legal Context: Shows the impact of the 2018 Supreme Court decision on the proliferation of online gambling.

How It Can Help You Quit

  1. Identify Triggers: Recognize stress and isolation as potential triggers for gambling.
  2. Persistence in Quitting: Emphasizes the importance of persistence in using self-exclusion tools.
  3. Financial Awareness: Be aware of the financial consequences and seek ways to manage debt.
  4. Professional Help: Consider professional help and support groups to manage addiction.

Questions and Answers on Learnings

Q1: What tactics do gambling companies use to keep players engaged?

  • Gambling companies use data analytics to track player behavior, offer personalized bonuses, and provide VIP treatment to high spenders, making it hard for players to stop.

Q2: Why is it difficult for problem gamblers to quit even when they want to?

  • Companies make it easy to continue gambling by offering incentives, tracking behaviors to encourage play, and providing immediate access to funds, which overwhelms the gambler’s ability to self-regulate.

Q3: What can problem gamblers learn from Fischer’s story?

  • Recognize the manipulative tactics of the industry, understand personal triggers, persist in using self-exclusion tools, and seek support from groups and professionals.

Q4: How can self-exclusion tools help?

  • Self-exclusion tools can limit access to gambling platforms, though persistence is required as initial attempts may face technical issues.

Q5: What steps did Fischer take to manage her addiction?

  • Fischer eventually banned herself from gambling apps, took financial measures to manage debt, and sought help through 12-step programs and professional support.

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3 Likes
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This story is a good reminder that gambling addiction can happen to anyone. The real PROBLEM is not doing anything about it. We’re all susceptible to temptation, but having the smarts to act on solving the problem is what sets us apart and gets us on the path to healing.

If she can lose $500k and bounce back, so can you. It’s all about taking that first step and reaching out for help. Remember, seeking support is a sign of strength. We’re here for you, and together, we can overcome this.

3

Yeah, it’s a wake-up call alright. What pisses me off is how easy it is to fall into this trap, no matter who you are. The real kicker is doing nothing about it and letting it ruin your life.

We all get tempted. It’s everywhere, and it sucks us in. But sitting on your hands and hoping things will get better on their own is just plain stupid. If she can blow through $500k and still manage to claw her way back, it means there’s hope for the rest of us, but only if we get off our asses and actually do something about it. I can’t imagine having $500k let alone losing it all.

No more excuses. We need to face this head-on and take action, or we’re just as screwed as she was. Time to wake up and make a change.

4

seriously, this is wild. A psychiatrist losing $500k? WTF. It just shows it can mess up anyone.