A note about audio: This was filmed a few weeks ago - since then, audio has been recorded separately and the issue has been fixed. But figured I’d still post this as planned,!
I will never understand why anyone gambles. The probabilities are literally rigged against you. Often times they even have to say this. Do people just not math?
There is a good chance Graham was prepped for this call. It would be really interesting if Graham branched out with a call in show. It takes a different kind of skill-set to be sucessful at what Dave Ramsey does.
Graham you can put a aux cable into your phone and connect it to your computer so that way you can still listen to the conversation and record the audio inside your pc. Better quality for the audience. Or make a FaceTime call on your computer and record that
Krol Michael So true! I filmed this as one of the first calls I ever recorded, since then the newer calls have been recorded with FaceTime audio and loopback. So quality has improved significantly!
@@TheGrahamStephanShow yeah makes sense. I wondered why the quality became worse since the last video. Glad you fixed that. Also thanks for the heart ♥️
Can we all just clap it out for Graham for focusing on the root of the problem, gambling addiction, and not just the financial aspect of this. Thank you for being real about it. Sending positive vibes to that guy, hold strong man. It is tough, but you can do it.
@@michaelsteinberg205 I'm like him minus the lots of cash but my friends hate me cause I don't party often. I just can't justify spending so much on alcohol.
No joke having these episodes every morning gets me so motivated for finance and financial independence. And even just financial concepts in general that i find cool. I’m in the gym every morning and I see the notification for this channel. Please make a Patreon so I can give you my money. 💵
A good friend of mine had a part-time job in the casino. She ended up quitting because she was getting depressed seeing people throwing loads money just like that and losing them in a matter of minutes. It's sad!
68Camaro RS/SS Just bc nobody forced them to gamble doesn’t mean watching it happen can’t be heartbreaking. And their life situation plus advertising could’ve made them feel it was their only option to get out of a financial hole they were in. I personally have walked that path and know it never ends well. There are always better, more sustainable options. You never know why someone does something, but watching them go down a path of self-destruction always feels tough if your mirror neurons are functioning.
He needs to find a Gamblers Anonymous meeting and go faithfully every week. If he can find more than one and go more than once a week that would be helpful on the front end. About 15 years ago I developed a gambling problem and this is what saved me. I went to meetings for about two years before I got to the point where the only time I thought about gambling anymore was when I went to the meetings at which point I decided I was cured and the meetings were becoming counter productive. Good luck!
Your Backyard You can be frugal while spending immensely. J Paul Getty owned estates worth tens to hundreds of millions and yet installed pay phones inside his home so that guests would have to pay to use the phone instead of getting to do so for free. I forgot who this guy was, but a Canadian banker once embezzled millions from the bank he worked at so that he could continue to gamble to cover his losses, but he would keep losing the money. This guy, was as frugal as you can get, the casino employees said that’d he’d come down to Atlantic city in plain clothing, and holes in his shoes while playing over 100 grand a hand at times. Having an addiction or having wealth does not equal not being frugal, which is the trait of not willing to spend on yourself or others for things to be considered a luxury.
Arrad a cheap bastard is not the same thing as a frugal person. Holes in shoes and gambling hundreds of thousands and constantly losing is a mentally unstable person nothing frugal there.
I did the gambling thing a few years ago. I remember my girlfriend (at the time) said we could go out to eat with that money. I responded with, "The thing about that dinner is I know that I'll lose the money at least if I gamble their's a chance that I could make more money." The only thing gambling did was help deplete funds that could have built a better relationship.
I hope he can turn it around. I also was obsessed with poker in the late 2000s, got into Blackjack and Baccarat, decided to take it to a casino for serious money and I lost $2,000 in one night. That was the last time I went into a casino. It was an expensive lesson to learn.
Ouch. You know what though, if that taught you, that your a compulsive gambler and you've accepted it as fact and haven't been back since and you KNOW you never will again, that's a damn good 2k investment right there to now KNOW what you'll never do again. So now looking back and so long as you'll never forget, that was worth every single penny! Good for you man! WTG!
the only reason i go into a casino is to play at the arcade, eat at the buffet, go to shows and movies, and shop. Never put your money into any game in a casino unless its one of those arcade machines.
It was good to see him treated with respect and help him see what he does having going for him in his life, thanks for that Graham. No doubt that hits a lot of to hear stories like this, nice job in handling this one with compassion. Best of luck to Steve and his wife to get their heads above water and then get on the road to freedom of debt!
I'm going to make it happen - my plan is to test out the format for a few months and decide how it's going to operate, how to screen calls, how to record, and to make sure people enjoy it. From there, I'll invest in an actual separate set and get this done in much higher quality. Judging by the reaction so far, it'll do well...but I'm a slow and steady person when it comes to this, so this gets some traction, I'll make it happen. i think it'll have a lot of potential!
Don’t call this guy smart. He’s the type who thinks he’s smarter than the people giving him advice. He’s going to go back and try to gamble himself out of debt. It’s not going to work.
Hey Sam. I'm avid in personal finance and have been watching Grahams videos for a while now and all. My main source of income has been from working as a casino dealer for the past few years and I'm still not sure if I've seen it "all" yet but I've seen enough. I understand your situation I will watch players bust out in poker and walk over to baccarat in hopes to replenish their bank roll. The biggest thing you can do for yourself to move forward is to let go of gambling and the casino life all together. This mean not giving into temptations and of course most importantly not stepping foot inside a casino if you can help it. If you walk into the casino you've already lost. I know you've invested a lot of time learning the game of poker but its seriously not worth it in the long run. Not everyone can be Daniel Negreanu. I also recommend calling 1.800.GAMBLER if you haven't already we promote that for problem gambling but probably not enough lol. A lot of people get stuck in the casino its a vicious cycle just know if you get your mind right everything else will be a piece of cake. The debt won't be easy but you can do it brother!! Can't wait for the follow up call. Also, I was shocked when Graham said he used to gamble a bit I didn't think you would ever lol.
I don't know if you get out of 200k worth of credit debt with interest rates greater than 25%. That's over $4k of interest accruing every MONTH, plus interest on top of that. Bankruptcy might be the only option at this point and to do the gambling counseling.
Yes, he really needs to look at his income vs. his debt. If he simply doesn't have the money to cover the minimum payments, then it's already too late. Bankruptcy is the only option.
Graham Ive been binging on your channel. Now knowing your strategies I don’t even fall for the titles anymore lol. I greatly appreciate the content. I’ve gained a lot of value from it. Thanks again.
I agree with everything you said except one thing Graham: Long Term poker is definitely possible, I've been a pro poker player for 4 years before I decided to quit for couple of reasons; in those four years, I managed to transform 15$ in over 200k, and not by playing tournements but by playing heads up 1vs1 only. So this means I had to grind and manage my bankroll starting from 1$ games up to 300$ games. I wasn't the best at all... in fact that's one of the main reason I had to quit, there was to many good players in the end. But still, if you look at my career graph, I played around 120 000 games and it's a linear graph showing steady progress, no huge swings or anything. Graham, go on www.sharkscope.com and look the graph of Furkay on pokerstars, hes a heads up player with one of the best graph ever, no swings at all, just looking at that graph should convince you that long term poker is definitely viable... But for the purpose of this video... I would obviously recommend this guy to quit poker, first of all to be a pro poker player you have to be able to be emotionally stable and being able to see poker as a long term investment and not making stupid decisions, and this guy has no bankroll management at all. Even the best poker player of the world would go bankrupt by using the way he decides to play his money... poker ain't for everyone guys, everytime a friend ask me advice to be able to make a living from poker I always say the same thing: just quit poker, it's not worth it. During my careers I made 80$/hourly average, I know people who makes 600$/hourly, but even if the money is good, this is stressfull, frustrating and affects your daily life... I always saw a pro poker player the same as a pro boxer, even when you win the match, you had to take some good punch... Please Like this comment so people read this....
Actually it doesn't even teach you how to be an employee either lol. BTW though, you can become VERY wealthy as an employee. Employees have a huge advantage in that they have price matching 401k plan opportunities AND you can also get and fund an IRA on top of that. Invest and max both of those and your pretty much guaranteed to retire a multi millionaire. I'm self employed and let me tell ya, there's good reason why most business fail. You have to be the one who pushes yourself to go to work and you have to deal with a whole lot more stress than an employee does too. In the end at retirement, an employee who opted to invest more can very, very easily blow a business owners net worth out of the water come age 65. There's nothing wrong with just going to work, putting your hours in and leaving work at the job site. When your the owner, you take that shit to bed with you every single night. There's no free ride.
Hey Sam, if you're reading. I've never had gambling issues, but I've been through a lot of therapy around my own mental health problems. Just wanted to say it is definitely worth it in the long term. If you can sort out the root cause, it'll most likely help with more than just the gambling issues. There's lots of therapists out there, good and bad, so if it doesn't work out with the first, don't be afraid to switch to someone else, but make sure to stick with it. Good luck!
Started a side hustle: Gambling the ROI seemed great. All my friends told me not to, I won’t make it, it’s to risky, didn’t believe in me. I told them real friends would want my business to succeed. I told them I need to work on my business and build an empire for myself so put everything into gambling as my side hustle and I failed. Moral of the story, gambling is not a side hustle.
Happy Father's Day everyone! Gambling is addictive, fast, easy money... But I don't know very many gamblers that are actually wealthy. I'm sure there's a few, but those are pretty rare. I agree completely, you need to treat the addiction first, call the creditors and ask them for lower payment or maybe a differed payment for a bit? But definitely go to a counselor or group and get help! I almost got sucked into gambling online, thankfully, I only lost $600 (which at the time was a big deal, most of our paycheck) and then I deleted those accounts. I still feel guilty about that money. I hope this guy gets help and gets his life back on track.
The very reason I don’t play the lottery or do casinos. The two times I’ve gone, I used the money they give and once I lose it all I’m out door...with an attitude. I’ve played the lotto a couple times. I get so offended that I spent money for nothing in exchange lol. The gambling life is NOT for me.
Reggie, there's nothing wrong with being a gambler in and of itself. Think about this: Probability and statistics were fields of study originally developed by mathematicians, such as Bernoulli, mostly because they wanted to find ways to beat the odds against the house. The issue with that is that the higher risk games will yield higher winnings, but the odds are well known, and the payoffs are such that over time you lose to the house. The interesting thing about poker, or black jack, is that experience and strategy can give one an advantage over time, but that's not actually gambling. That's work. If someone wins 6 times out of every 11 games played, then they still have to play those 11 games to come out ahead on average over time. That means that you can play poker professionally if you want, but what that would amount to is an hourly rate that would, at best, come out to $50,000 per year for a decent professional poker player. At that point, once you do the things you need to do to make the risk in your favor, it's not longer gambling; it's a job. This "job" requires you to do certain things to guarantee that you win over time. That's work. That's perfectly acceptable, but you have to know that when you go into it and be willing to make that decision and all of those sacrifices along the way.
@@michaelsteinberg205 In terms of live poker, $50k a year is what a low stakes pro grinder would make. $1/$3 are still low stakes which will make $57.6k pa @ 10bb an hour average over 160h per month. A solid mid stakes pro playing $5/$10 @ 10bb an hour for 160h per month would make $192k pa. There are some remarkably soft games in Macau where you can make quite a bit more than 10bb an hour playing 100/200 HKD (Circa $12.5/$25) these games are still probably classed as mid stakes, albeit at the top end of midstakes where there are quite a few pros making around 15bb an hour which over 160 hours a month would represent $720k pa. Dependant on what country you are a citizen of this is tax free, notably UK and Canada. Ultimately poker can be very lucrative, I myself play poker on the side as a hobby/keen interest and i'm making around £21k pa as a side income based on my hourly average over a sizable sample.
@@JB-ne1by I was curious so I looked it up. If it's nonprofessional gambling here in the US, it's generally taxed at 25%. If you are a professional, as in you do it for a job, you do whatever your tax rate it. Like the person was saying how it turns into a job, as in work.
@@JB-ne1by Don't you still need to do your due diligence and put in a certain number of hours? Don't you still need to be patient so you can mitigate risk? I'm not saying it's a bad way of doing things at all. I'm really good at math and have an extensive background in probability and have looked into this. My issue is that in the U.S. they did away with a lot of online gambling platforms, and the closest casino to me is more than an hour to drive. My point is that of course one can make a lot of money doing it. I put low figures so that i'm not overselling the possibilities. It's still work though, isn't it?
@@michaelsteinberg205 I'm not disputing the fact that it's a job if you're playing full time, it absoloutely is and requires continuous study and time to keep developing. However the statement that at best you would be looking at an hourly rate equivalent to $50k a year is just false. I think if you looked at the entire player pool of cash game pros the average income would exceed $50k a year meaning the at best is way above this figure..
Graham I just want to say that you've really opened my eyes. Since I started watching your videos around March/April of this year, not a day goes by without me thinking about my own personal finances and what other things I could be doing now to benefit my future self. I'm 24 with a lame entry level job, but I feel 100% in control of my money. I recently put a lump sum of money into my TFSA (Canadian Roth IRA) and I'm going to meet with my bank to set up a high interest savings account for an emergency fund. Every time I watch a video of yours it inspires me to do better 😤
I'm a professional poker player from UK with long term positive results. If you do not follow several key financial/discipline rules such as bank roll management etc you WILL go broke. It's like any business. One of those rules is do not play any other casino games; in poker we have an edge against other humans who make mistakes, the casino does not make mistakes. Hope to see you crushing it soon brother, good luck you got this
I love that graham let’s them talk vs “other” financial dudes who cut them off, rush them, treat them like they’re stupid when they’re telling their stories. I appreciate the fact that we get to have a little background story to the issues these callers have.
I like how you address this. Have to attack the issue from the root. Fix the addiction first then debt later because if you don't cut the root out then the plant will grow again.
I've broke even at casinos. Played a few times, made a $100 and the second time I lost $100. I can see how it can be addicting, I've stayed clear of it ever since.
Poker is such a gateway game for gambling because the you're not playing against the house. You can win long-term if you're really good, disciplined, and luck just adds to it. Then, like he described when you tilt, you're primed for disaster.
I am cheering for you Sam. You can do this buddy. This is just a learning experience for you to grow even more. I don't believe you should have any shame or guilt. I believe we all have our different paths. Keeping learning, keep growing, keep loving yourself. You got this.
Hey Graham, I think you should keep the camera rolling and react to the conversation you just had for a minute. I assume that will make for a better ending of the video. Peace
To the caller: All the best wishes, dude and keep us posted on your progress, not only with the dept but also on your all over situation! Good luck and god bless you and your great wife.
I found myself in a similar amount of unsecured debt. My pride had me fighting the good fight until I lost my job. Best thing I ever did was a Chapter 7 bankruptcy. I started sleeping better the first night i didn't have $2000 in CC payments hanging over my head and within 2 years I had decent credit again. Remember the whole time you are maxed out your credit profile is bad even if you pay back every dollar. Great advice Graham and brother you really did win the lottery with your wife. Good luck and I hope you do follow-up with us.
After listening to the guy tell his story, I am starting to think that gambling isn't about the money, but rather about the RUSH of the back and forth. Horrible.
Well yeah, the adrenaline of the risk taking but also the fact how easy it is to make a very big amount of money if you win. All of these people always have some sort of a winning streak, this is specifically how you get hooked on gambling. If you never win you will get discouraged right in the beginning and don't want to continue trying.
I sincerely look up to you and your frugalness, maybe start a series where you take a fan and review their finances and give them genuine advice, so maybe someone in a similar situation can use your advice, I’m a 20 yr old making 33k a year living at home and I could definitely use some personal G-Ham advice!
You can do this Sam! You owe it to yourself and to your wife + those you love. Stay disciplined and continue chipping away at your debt little by little. In a few years it will be paid off and you can have a fresh start! Nothing good comes easy. You got this!
Graham, i am a 18 year old an I would really appreciate a video explaining step by step what I should do in my personal finances, real state investing... etc. Thank you
Sam! good luck I hope you will get out of it soon. keep telling your story, I think it is a good lesson to everyone and will keep you motivated.. Really hope you are doing and you will do good
Consistency, this was uploaded 23 mins ago and 23 mins ago I watched the "Lost 20k video" then I see this after and I was like wait a minute another video?
You can record the phone call with any app and use airphones when filming and just edit the voice you recorder with the app and the mic together, this will make the sound clearer
Graham. I love ya man. You have helped me out tremendously. I know you're testing out a new format with this show, and working out the kinks, and mad props to you for branching out...but I don't want to watch you holding a speaker phone to another mic while you give someone advice.
Graham is looking more and more like Ramsey's talk show, nice. It's nice to tap into these millionaire's experiences and wisdom, greatly helps in making financial decisions.
So i have been recently following up on your content. And i must say you are turning up to be a great role model for me. I am just starting out with my life as i had my 18th birthday not long ago and became certified for a job that is hopefully about to make me more money than i should spend - i believe that your advices unlike those of other youtubers who only look for self promotion are very honest and wise and therefore it would mean the world to me if you could tell me if there is any way to contact you, very much like this (great btw) video in a way that could be benificial for us both.. i hope to hear from you and any way admire your ways very much. So thanks Graham, please keep these videos up. and truly yours - H.
A note about audio: This was filmed a few weeks ago - since then, audio has been recorded separately and the issue has been fixed. But figured I’d still post this as planned,!
Hey man how can we talk to you?
I would like to know as well.
I will never understand why anyone gambles. The probabilities are literally rigged against you. Often times they even have to say this. Do people just not math?
Why should you own a credit card? Is there a video about it?
@@user-xb6dk4zl7l He has many of them. Just search his channel.
Dave Ramsey should be afraid. G-ham is coming up
"they act like two greats can't coexist" smh
There is no room in the world for everybody have their own space.
@@mellyjelly6658 respectfully disagree. many examples will prove otherwise
There is a good chance Graham was prepped for this call. It would be really interesting if Graham branched out with a call in show. It takes a different kind of skill-set to be sucessful at what Dave Ramsey does.
@@NoahAbrams01 with time i'm sure he'll work on that. Let's not forget how many years Dave has in this business
15 years ago I lost $20.00 at the casino, I have never gone back. Fuck that place! I could have bought some avocado toast.
Or a stock
Sounds like me.
I put $20 down playing my first game of blackjack at a casino. Dealer got blackjack and I lost. Never played again.
I just wish I lost my money the first time I entered one
ah, I wonder if I had done the same the first time I went to a date...
$20 would cover my internet bill.
Graham you can put a aux cable into your phone and connect it to your computer so that way you can still listen to the conversation and record the audio inside your pc. Better quality for the audience. Or make a FaceTime call on your computer and record that
This
Krol Michael So true! I filmed this as one of the first calls I ever recorded, since then the newer calls have been recorded with FaceTime audio and loopback. So quality has improved significantly!
@@TheGrahamStephanShow yeah makes sense. I wondered why the quality became worse since the last video.
Glad you fixed that.
Also thanks for the heart ♥️
Can we all just clap it out for Graham for focusing on the root of the problem, gambling addiction, and not just the financial aspect of this. Thank you for being real about it. Sending positive vibes to that guy, hold strong man. It is tough, but you can do it.
Nobody:
Graham: My coffee costs 20 cents!
LOL. I love how cheap this guy is! I wish I had friends like him.
@@michaelsteinberg205 I'm like him minus the lots of cash but my friends hate me cause I don't party often. I just can't justify spending so much on alcohol.
Cogs same as you here,bud.
Cogs that’s why you buy weed 🤠
@@csortof I don't smoke or do drugs. Only drink alcohol occasionally.
No joke having these episodes every morning gets me so motivated for finance and financial independence. And even just financial concepts in general that i find cool. I’m in the gym every morning and I see the notification for this channel. Please make a Patreon so I can give you my money. 💵
Didn't graham just teach you not to spend your money like that?
ClearPvP Blitz & MW it’s an investment. 😊 The ROI will be massive. 😇
Dameon Wite No patreon necessary, just hit the like button 😜
A good friend of mine had a part-time job in the casino. She ended up quitting because she was getting depressed seeing people throwing loads money just like that and losing them in a matter of minutes. It's sad!
68Camaro RS/SS Just bc nobody forced them to gamble doesn’t mean watching it happen can’t be heartbreaking. And their life situation plus advertising could’ve made them feel it was their only option to get out of a financial hole they were in. I personally have walked that path and know it never ends well. There are always better, more sustainable options. You never know why someone does something, but watching them go down a path of self-destruction always feels tough if your mirror neurons are functioning.
@68Camaro RS/SS people with empathy
@68Camaro RS/SS nobody forces a junky to take drugs either...
He needs to find a Gamblers Anonymous meeting and go faithfully every week. If he can find more than one and go more than once a week that would be helpful on the front end. About 15 years ago I developed a gambling problem and this is what saved me. I went to meetings for about two years before I got to the point where the only time I thought about gambling anymore was when I went to the meetings at which point I decided I was cured and the meetings were becoming counter productive. Good luck!
Wow congratulations John! I'm glad you beat it brother! Stay strong and never give into temptation!
I’m a very frugal man...
Wastes 240,000 at the casino*
Yep he definitely contradicted himself there.
Your Backyard You can be frugal while spending immensely. J Paul Getty owned estates worth tens to hundreds of millions and yet installed pay phones inside his home so that guests would have to pay to use the phone instead of getting to do so for free. I forgot who this guy was, but a Canadian banker once embezzled millions from the bank he worked at so that he could continue to gamble to cover his losses, but he would keep losing the money. This guy, was as frugal as you can get, the casino employees said that’d he’d come down to Atlantic city in plain clothing, and holes in his shoes while playing over 100 grand a hand at times.
Having an addiction or having wealth does not equal not being frugal, which is the trait of not willing to spend on yourself or others for things to be considered a luxury.
Arrad I don’t know if you understand the word frugal. Nothing about throwing 240,000 or millions on gambling is frugal...get your head out your ass
Arrad a cheap bastard is not the same thing as a frugal person. Holes in shoes and gambling hundreds of thousands and constantly losing is a mentally unstable person nothing frugal there.
It wasnt a waste if he would have won
I did the gambling thing a few years ago. I remember my girlfriend (at the time) said we could go out to eat with that money. I responded with, "The thing about that dinner is I know that I'll lose the money at least if I gamble their's a chance that I could make more money."
The only thing gambling did was help deplete funds that could have built a better relationship.
I always set a budget when I go to the casino. Once I lose $100 I go home.
Quit while you’re ahead ! The best example right here
We are all holding Sam accountable!
I hope he can turn it around. I also was obsessed with poker in the late 2000s, got into Blackjack and Baccarat, decided to take it to a casino for serious money and I lost $2,000 in one night. That was the last time I went into a casino. It was an expensive lesson to learn.
Ouch. You know what though, if that taught you, that your a compulsive gambler and you've accepted it as fact and haven't been back since and you KNOW you never will again, that's a damn good 2k investment right there to now KNOW what you'll never do again. So now looking back and so long as you'll never forget, that was worth every single penny! Good for you man! WTG!
the only reason i go into a casino is to play at the arcade, eat at the buffet, go to shows and movies, and shop. Never put your money into any game in a casino unless its one of those arcade machines.
It was good to see him treated with respect and help him see what he does having going for him in his life, thanks for that Graham. No doubt that hits a lot of to hear stories like this, nice job in handling this one with compassion. Best of luck to Steve and his wife to get their heads above water and then get on the road to freedom of debt!
This should be it's own high production show, someone make it happen.
I'm going to make it happen - my plan is to test out the format for a few months and decide how it's going to operate, how to screen calls, how to record, and to make sure people enjoy it. From there, I'll invest in an actual separate set and get this done in much higher quality. Judging by the reaction so far, it'll do well...but I'm a slow and steady person when it comes to this, so this gets some traction, I'll make it happen. i think it'll have a lot of potential!
Don’t call this guy smart. He’s the type who thinks he’s smarter than the people giving him advice. He’s going to go back and try to gamble himself out of debt. It’s not going to work.
Youre such an idiot for saying that
*_When I read the title I thought Graham lost $240,000. I'm thinking to myself that doesn't sound like Graham at all!?!?_*
Hahahaha.
Why do you make it different font. Be normal you black sheep
like it or not, he's very good at creating clickbait titles
Click bait on point lol
@@xeagle91 if you watched his previous videos on this channel, youd realize it's not clickbait
Hey Sam. I'm avid in personal finance and have been watching Grahams videos for a while now and all. My main source of income has been from working as a casino dealer for the past few years and I'm still not sure if I've seen it "all" yet but I've seen enough. I understand your situation I will watch players bust out in poker and walk over to baccarat in hopes to replenish their bank roll. The biggest thing you can do for yourself to move forward is to let go of gambling and the casino life all together. This mean not giving into temptations and of course most importantly not stepping foot inside a casino if you can help it. If you walk into the casino you've already lost. I know you've invested a lot of time learning the game of poker but its seriously not worth it in the long run. Not everyone can be Daniel Negreanu. I also recommend calling 1.800.GAMBLER if you haven't already we promote that for problem gambling but probably not enough lol. A lot of people get stuck in the casino its a vicious cycle just know if you get your mind right everything else will be a piece of cake. The debt won't be easy but you can do it brother!! Can't wait for the follow up call.
Also, I was shocked when Graham said he used to gamble a bit I didn't think you would ever lol.
I'm loving where this channel is going. I'm gonna be watching these every morning with a 20c coffee.
I don't know if you get out of 200k worth of credit debt with interest rates greater than 25%. That's over $4k of interest accruing every MONTH, plus interest on top of that. Bankruptcy might be the only option at this point and to do the gambling counseling.
Yes, he really needs to look at his income vs. his debt. If he simply doesn't have the money to cover the minimum payments, then it's already too late. Bankruptcy is the only option.
Thought he got it down to 100k and the entire thing wasnt at 25%
@@dominiquechenard2708 and then he lost a load more again.
If he invested that $200k of credit card debt into an options contract he would be filthy stinkin' rich.
Graham Ive been binging on your channel. Now knowing your strategies I don’t even fall for the titles anymore lol. I greatly appreciate the content. I’ve gained a lot of value from it. Thanks again.
Also, Graham, great advice to this man! I’m a mental health counselor(therapist) and he address the problem would be the first step.
*NEW 👏GRAHAM👏VIDEOS👏EVERY👏DAY👏*
I agree with everything you said except one thing Graham: Long Term poker is definitely possible, I've been a pro poker player for 4 years before I decided to quit for couple of reasons; in those four years, I managed to transform 15$ in over 200k, and not by playing tournements but by playing heads up 1vs1 only. So this means I had to grind and manage my bankroll starting from 1$ games up to 300$ games. I wasn't the best at all... in fact that's one of the main reason I had to quit, there was to many good players in the end. But still, if you look at my career graph, I played around 120 000 games and it's a linear graph showing steady progress, no huge swings or anything. Graham, go on www.sharkscope.com and look the graph of Furkay on pokerstars, hes a heads up player with one of the best graph ever, no swings at all, just looking at that graph should convince you that long term poker is definitely viable... But for the purpose of this video... I would obviously recommend this guy to quit poker, first of all to be a pro poker player you have to be able to be emotionally stable and being able to see poker as a long term investment and not making stupid decisions, and this guy has no bankroll management at all. Even the best poker player of the world would go bankrupt by using the way he decides to play his money... poker ain't for everyone guys, everytime a friend ask me advice to be able to make a living from poker I always say the same thing: just quit poker, it's not worth it. During my careers I made 80$/hourly average, I know people who makes 600$/hourly, but even if the money is good, this is stressfull, frustrating and affects your daily life... I always saw a pro poker player the same as a pro boxer, even when you win the match, you had to take some good punch... Please Like this comment so people read this....
+1
This should be a daily show, I like the transparency and the advice. Smashed that like button
Therapy with Graham.. my dude poured his financial heart out
Dave Ramsey who?
Love this new episode format! It’s like Dave Ramsey but with good advice!! Smashed that like button!!
Next video
How I made 240,000 gambling
Nobody:
Graham: I've seen it first-hand
Preach, his wife is a gem!
School doesn't teach you how to be wealthy, it teaches you how to be an employee :)
Actually it doesn't even teach you how to be an employee either lol. BTW though, you can become VERY wealthy as an employee. Employees have a huge advantage in that they have price matching 401k plan opportunities AND you can also get and fund an IRA on top of that. Invest and max both of those and your pretty much guaranteed to retire a multi millionaire.
I'm self employed and let me tell ya, there's good reason why most business fail. You have to be the one who pushes yourself to go to work and you have to deal with a whole lot more stress than an employee does too. In the end at retirement, an employee who opted to invest more can very, very easily blow a business owners net worth out of the water come age 65. There's nothing wrong with just going to work, putting your hours in and leaving work at the job site. When your the owner, you take that shit to bed with you every single night.
There's no free ride.
Hey Sam, if you're reading. I've never had gambling issues, but I've been through a lot of therapy around my own mental health problems. Just wanted to say it is definitely worth it in the long term. If you can sort out the root cause, it'll most likely help with more than just the gambling issues. There's lots of therapists out there, good and bad, so if it doesn't work out with the first, don't be afraid to switch to someone else, but make sure to stick with it. Good luck!
Graham's new tittle: the Financial Doctor.
Started a side hustle: Gambling the ROI seemed great.
All my friends told me not to, I won’t make it, it’s to risky, didn’t believe in me. I told them real friends would want my business to succeed.
I told them I need to work on my business and build an empire for myself so put everything into gambling as my side hustle and I failed.
Moral of the story, gambling is not a side hustle.
Graham, you are a very very good listener. This is an underrated skill
I love how you look at the camera 😂
It keeps us feeling part of the conversation.
*HAPPY FATHER'S DAY* 🎉🎆💪
hes not a father..
@@mmmmmMuffinz there's always at least 1. Today you are that 1.
I'll never be that 1, thank God.
Happy Father's Day everyone! Gambling is addictive, fast, easy money... But I don't know very many gamblers that are actually wealthy. I'm sure there's a few, but those are pretty rare. I agree completely, you need to treat the addiction first, call the creditors and ask them for lower payment or maybe a differed payment for a bit? But definitely go to a counselor or group and get help! I almost got sucked into gambling online, thankfully, I only lost $600 (which at the time was a big deal, most of our paycheck) and then I deleted those accounts. I still feel guilty about that money. I hope this guy gets help and gets his life back on track.
If you start doing 5 minute advice videos like Dave Ramsey I swear to god... I will click the bell. And watch every single one. 🙂
been hitting the gym recently?
gonna say his arms are looking pretty big
I think he’s been hitting more then just the gym 🤚
He's short..
@@paulgovor Why judge him for something he can't change? But it's ok to accept being 400 pounds overweight...
@@theodorbutters141 u stupid? He's short therefore his frame will be bigger
He should make a RUclips channel about his gambling experiences
Wow 240k I would be devastated that's why I don't do casino's
Literally if you are that much in debt, you will never earn it back in a 9-5 job. You need to just either gamble it back or build your own company.
The very reason I don’t play the lottery or do casinos. The two times I’ve gone, I used the money they give and once I lose it all I’m out door...with an attitude. I’ve played the lotto a couple times. I get so offended that I spent money for nothing in exchange lol. The gambling life is NOT for me.
Haven't even started watching the video and I'm going to like it because I'm a gambler and I know gram is about to put me in my place.😂😂
Reggie, there's nothing wrong with being a gambler in and of itself. Think about this:
Probability and statistics were fields of study originally developed by mathematicians, such as Bernoulli, mostly because they wanted to find ways to beat the odds against the house. The issue with that is that the higher risk games will yield higher winnings, but the odds are well known, and the payoffs are such that over time you lose to the house. The interesting thing about poker, or black jack, is that experience and strategy can give one an advantage over time, but that's not actually gambling. That's work. If someone wins 6 times out of every 11 games played, then they still have to play those 11 games to come out ahead on average over time. That means that you can play poker professionally if you want, but what that would amount to is an hourly rate that would, at best, come out to $50,000 per year for a decent professional poker player. At that point, once you do the things you need to do to make the risk in your favor, it's not longer gambling; it's a job. This "job" requires you to do certain things to guarantee that you win over time. That's work. That's perfectly acceptable, but you have to know that when you go into it and be willing to make that decision and all of those sacrifices along the way.
@@michaelsteinberg205 In terms of live poker, $50k a year is what a low stakes pro grinder would make. $1/$3 are still low stakes which will make $57.6k pa @ 10bb an hour average over 160h per month. A solid mid stakes pro playing $5/$10 @ 10bb an hour for 160h per month would make $192k pa. There are some remarkably soft games in Macau where you can make quite a bit more than 10bb an hour playing 100/200 HKD (Circa $12.5/$25) these games are still probably classed as mid stakes, albeit at the top end of midstakes where there are quite a few pros making around 15bb an hour which over 160 hours a month would represent $720k pa. Dependant on what country you are a citizen of this is tax free, notably UK and Canada. Ultimately poker can be very lucrative, I myself play poker on the side as a hobby/keen interest and i'm making around £21k pa as a side income based on my hourly average over a sizable sample.
@@JB-ne1by I was curious so I looked it up. If it's nonprofessional gambling here in the US, it's generally taxed at 25%. If you are a professional, as in you do it for a job, you do whatever your tax rate it. Like the person was saying how it turns into a job, as in work.
@@JB-ne1by Don't you still need to do your due diligence and put in a certain number of hours? Don't you still need to be patient so you can mitigate risk? I'm not saying it's a bad way of doing things at all. I'm really good at math and have an extensive background in probability and have looked into this. My issue is that in the U.S. they did away with a lot of online gambling platforms, and the closest casino to me is more than an hour to drive. My point is that of course one can make a lot of money doing it. I put low figures so that i'm not overselling the possibilities. It's still work though, isn't it?
@@michaelsteinberg205 I'm not disputing the fact that it's a job if you're playing full time, it absoloutely is and requires continuous study and time to keep developing. However the statement that at best you would be looking at an hourly rate equivalent to $50k a year is just false. I think if you looked at the entire player pool of cash game pros the average income would exceed $50k a year meaning the at best is way above this figure..
"I started playing poker" Say no more my man I can guess the rest.
Bankruptcy is your only option.
Start over and over.
It's true, I was the poker.
In all seriousness, these interviews are great Graham, keep pumping them out!
Graham I just want to say that you've really opened my eyes. Since I started watching your videos around March/April of this year, not a day goes by without me thinking about my own personal finances and what other things I could be doing now to benefit my future self.
I'm 24 with a lame entry level job, but I feel 100% in control of my money. I recently put a lump sum of money into my TFSA (Canadian Roth IRA) and I'm going to meet with my bank to set up a high interest savings account for an emergency fund.
Every time I watch a video of yours it inspires me to do better 😤
I'm a professional poker player from UK with long term positive results. If you do not follow several key financial/discipline rules such as bank roll management etc you WILL go broke. It's like any business. One of those rules is do not play any other casino games; in poker we have an edge against other humans who make mistakes, the casino does not make mistakes. Hope to see you crushing it soon brother, good luck you got this
Graham getting buffed though
I'm cheering for Sam! Don't know him other than this video call...just wanted to say people care about you and are cheering for you and your wife.
I was about to comment about the audio but than saw your pinned post. Love you Graham!
Thanks for understanding - next ones will be better!
I love that graham let’s them talk vs “other” financial dudes who cut them off, rush them, treat them like they’re stupid when they’re telling their stories. I appreciate the fact that we get to have a little background story to the issues these callers have.
My cousin has played poker for 30 years and he lives very well.
I like how you address this. Have to attack the issue from the root. Fix the addiction first then debt later because if you don't cut the root out then the plant will grow again.
I just found out about your second channel and fell in love with it instantly.Keep up these videos they are really entertaining to watch!
You should see if you can somehow get an interview with Dave Ramsey. It would be an interesting vid.
I sincerely hope Sam finds the strength to deal with his addiction, and turn his life around. 🙏💛
You should forward the call through the video audio so it’s less static
You seem like a good person_ Thanks for listening to this mans problems and having compassion
your show is booming quickly ! in before this channel beats your main channel !
This is what happens when you don't understand risk management
@Graham can we check back on this guy in a few years for an update please? Hope he makes it back...
I've broke even at casinos. Played a few times, made a $100 and the second time I lost $100. I can see how it can be addicting, I've stayed clear of it ever since.
Poker is such a gateway game for gambling because the you're not playing against the house. You can win long-term if you're really good, disciplined, and luck just adds to it.
Then, like he described when you tilt, you're primed for disaster.
I am cheering for you Sam. You can do this buddy. This is just a learning experience for you to grow even more. I don't believe you should have any shame or guilt. I believe we all have our different paths. Keeping learning, keep growing, keep loving yourself. You got this.
Hey Graham, I think you should keep the camera rolling and react to the conversation you just had for a minute. I assume that will make for a better ending of the video. Peace
To the caller: All the best wishes, dude and keep us posted on your progress, not only with the dept but also on your all over situation! Good luck and god bless you and your great wife.
I found myself in a similar amount of unsecured debt. My pride had me fighting the good fight until I lost my job. Best thing I ever did was a Chapter 7 bankruptcy. I started sleeping better the first night i didn't have $2000 in CC payments hanging over my head and within 2 years I had decent credit again. Remember the whole time you are maxed out your credit profile is bad even if you pay back every dollar. Great advice Graham and brother you really did win the lottery with your wife. Good luck and I hope you do follow-up with us.
After listening to the guy tell his story, I am starting to think that gambling isn't about the money, but rather about the RUSH of the back and forth.
Horrible.
Well yeah, the adrenaline of the risk taking but also the fact how easy it is to make a very big amount of money if you win. All of these people always have some sort of a winning streak, this is specifically how you get hooked on gambling. If you never win you will get discouraged right in the beginning and don't want to continue trying.
Lol I would love to be on your show
You really can't help gambling addicts. They will always come back. It's up to the individual to change. You can't change people.
I sincerely look up to you and your frugalness, maybe start a series where you take a fan and review their finances and give them genuine advice, so maybe someone in a similar situation can use your advice, I’m a 20 yr old making 33k a year living at home and I could definitely use some personal G-Ham advice!
Great Show! Graham! Panerai Radiomir 1940 3-days Oro Rosso?
You can do this Sam! You owe it to yourself and to your wife + those you love. Stay disciplined and continue chipping away at your debt little by little. In a few years it will be paid off and you can have a fresh start! Nothing good comes easy. You got this!
Graham, i am a 18 year old an I would really appreciate a video explaining step by step what I should do in my personal finances, real state investing... etc. Thank you
Best of luck to this guy, hope to hear his update in December. Good luck Sam.
Sam! good luck I hope you will get out of it soon. keep telling your story, I think it is a good lesson to everyone and will keep you motivated..
Really hope you are doing and you will do good
Thanks Graham. I needed this.
Get a shure microphone they sound sooo much better. No that the yeti is any bad but shure is more professional and sounds much more crisp
Is there a way for you to record the actual audio feed from the phone? It would be more enjoyable than hearing the garble
Consistency, this was uploaded 23 mins ago and 23 mins ago I watched the "Lost 20k video" then I see this after and I was like wait a minute another video?
Love the content
You can record the phone call with any app and use airphones when filming and just edit the voice you recorder with the app and the mic together, this will make the sound clearer
Good to know!! Will improve future videos!
Graham. I love ya man. You have helped me out tremendously. I know you're testing out a new format with this show, and working out the kinks, and mad props to you for branching out...but I don't want to watch you holding a speaker phone to another mic while you give someone advice.
oh. now i just read your comment about audio. and I feel a turd.
Now I don’t feel so bad when I lost 1K at the casino
Just lost 500$ lol
Literally a new casino opening near my hometown around Boston... People need to hear this story. 😰
His side hustle, hustled him
Graham is looking more and more like Ramsey's talk show, nice. It's nice to tap into these millionaire's experiences and wisdom, greatly helps in making financial decisions.
Come on sam! I would love to hear that you are all ok in 6 months time. God Bless!
So i have been recently following up on your content. And i must say you are turning up to be a great role model for me. I am just starting out with my life as i had my 18th birthday not long ago and became certified for a job that is hopefully about to make me more money than i should spend - i believe that your advices unlike those of other youtubers who only look for self promotion are very honest and wise and therefore it would mean the world to me if you could tell me if there is any way to contact you, very much like this (great btw) video in a way that could be benificial for us both.. i hope to hear from you and any way admire your ways very much. So thanks Graham, please keep these videos up. and truly yours - H.
What's worse, gambling or buying luxury items?
Man that sucks. Great advice Graham. Would be cool to see a follow up!
You are stealing my heart.
I love the sound of this microphone coming out of my speaker. You sound like a radio host
We have a saying in our country which goes something like: "Luck in the game or luck with love" - and you sure got the latter of the two ;)
Great Audio 😍
How do you make your Yeti microphone sound so good?