Gambling is a game of chance which is based on luck and can result into the gambler winning or losing their stake. Every great gambler knows that the secret to surviving is to know what to throw away and what to keep as sang by Kenny Rodgers in his song 'The Gambler'. The dénouement of every gambling is a win or loss of funds; an outcome which either has a happy ending or detrimental effects to the gambler. Professional poker players like Gavin Griffin, Hansen Gus, Scotty Nguyen, and Erick Lindgren are famous poker players who went insolvent after losing millions of dollars in player poker. Poker is lucrative and classy but too much cupidity can engender a poker player bankrupt.
Gavin Griffin is one of the famous poker players who went broke as a result of playing professional poker. Ranked 3rd as Illinois' Greatest cash list and 133rd unsurpassed USA money list, Griffin is a Global poker player with a popularity ranking of 373 (Mob, 2019). The statistics on Griffin show that he is a prominent gambler but what really went wrong? In 2004, Gavin marked his poker history by becoming the youngest player to win a WSOP tournament. He gashed the Pot Limit Hold'Em and also won the eminent Triple Crown, an EPT in 2007 and 2008, and by 2012, he had a total live winnings of about $5 millions. However, Gavin furloughed most of this money in playing live games, paying taxes and later developed an addiction which cost him heavily (Puntersport, 2020) hence, going penniless.
Another poker player who fell a victim of gambling is Gus Hansen. The Dane is notably more famous than Griffin as he is ranked 2nd as Denmark's Greatest cash list and currently 89th Greatest cash list with a global popularity ranking of 17 (Mob, 2019). He is well known for his crazy swings which made him win four WTPs in a year and making six final tables stockpiling $11 mil before finally floundering in 2014. Hansen lost a total of $18 mil setting a record for the most loss in an online poker game (Puntersport, 2020). Since Hansen had a laid back attitude, he did not give up; he put his head down and later resurged.
Equally, Scotty Nguyen, just like Gavin and Hansen, was caught up in the conundrum of poker playing. Ranked 4th as Nevada's Greatest cash list and 31st Unmatched USA cash list, Nguyen has a global popularity ranking of 60 (Mob, 2019). In the 80s, the Vietnamese commenced his poker playing with a $270 paycheck which he turned into a six-figure bankroll within just a week. Nguyen reached his poker heights accumulating close to $11 million before fizzling in the late 90s when his addiction took over him, and he began losing a total of $20 million to irresponsible venture (Puntersport, 2020). This covetousness rendered him broke when he should have walked away after realizing he was losing money recklessly.
Similarly, Erick Lindgren also suffered the same fate as Scotty and Gavin. The two-times WSOP and WPT winner is counted among the poker players who made most money from gambling. 'E-dog', as he was otherwise known, ranked 38th in the Unequalled Money List of poker in 2016 amassing a total of $10 million in tournament earnings. Sadly, due to his addiction in betting, he became bankrupt and is hugely indebted to Pokerstars $2 500 000, the IRS $3 800 000, and Andy Bloch $1 100 000. Lindgren ended up losing a total of $25 million (Puntersport, 2020). Being broke is one thing but being broke and in debt is devastating.
Every gambling website encourages responsible waging and this is due to the fact the hankering to win is compulsive. The campaign is aimed at deterring gamblers from imprudent taking of chance since reckless poker playing is insidious as can be seen from the above discussion. Therefore, to avoid going indigent, a gambler should employ self-discipline and walk away before the situation exacerbates. Lack of this self-restraint together with the thirst to win is the reason why most professional poker players go broke. These poker players could have saved lots of cash if only they quit careless punting at the right time, otherwise, the price paid for ignorance is insolvency.