70k in debt Stake.com

[arwin100]

~

Forum members should stop expressing their empathy to such people.

I think OP's story here serves as a cautionary tale about the dangers to gamble on  borrowed money and, he has  the guts to admit publicly his dumb move  and tell about it. Thus, such people deserve our affection. However, I agree that to say sorry to him is not enough and probably  our responses  should more centered on a better way of handling his situation. In my previous post I have already gave my tip
to seek ^{first and foremost} covering support among people from his close circuit.

Really serve as a warning to people don't gamble gamble to much around especially if they can't afford to lose the money they have and also don't borrow to anyone just to gamble. This troubles what OP encounter is already a great reminder that addiction is really bad to anyone and people should know how to control their selves for wanting to earn a lot of money in gambling. This is a game of chance and they should not take risk then spend all they have because this will lead them to a miserable situation just like what we read from here.

But sad reality is he need to learn a lesson from the mistake he committed since I doubt he would learn if Eddie or someone  would grant his request to get a refund. Since provably that he will just gamble it again.

[salad daging]

There is nothing sorry about the OP's loss here.

It was their choice to gamble the money and they knew about the consequences of the loss which would eventually happen so anyone to blame and to get the money back is the OP itself. They should do whatever that needs to be done to pay the loan back.

Owners of stake.com owe them nothing.

Forum members should stop expressing their empathy to such people.

Even the OP realizes he is wrong for his actions but we all can't help anything except support to get back strong in order to repay his loan, if you complain a lot especially want a return of Stake it is impossible because the casino does not owe and the platform is not wrong.
Just take the lesson, this is a valuable lesson for OP so that in the future there is no need to take loans for gambling.

[Patikno]

Hello everyone,

This is the only alternative I see to my failure and stupidity. I’ve accumulated 70k in debt on Stake.com, and the bank has given me a five-day deadline. My wages are now garnished, and I can’t even cover basic expenses. I know I’m stupid, but loneliness and addiction have brought me to this point.

I’m writing this message in the hope that it reaches Eddie and that I can try to reach an agreement. I know I gambled and lost—it’s entirely on me. I just have no other choice but to do this. I would like you to consider the possibility of refunding 40% or 50% and closing my account. I won’t gamble again; I need to start therapy and climb out of this hole. But if I can’t find a solution, this will mean my complete bankruptcy and end.

Please, I need a response from Stake. You will still have significant profits from all the years I’ve played there. I know I’m stupid, and this is ridiculous.

It is very unreasonable to ask for a refund to a gambling site that clearly has an agreement and awareness from every user who wants to register, even if you do not read the agreement, you should be aware that it is not possible to ask for a refund in general people know that. Logically, if you get a profit from gambling activities, then it is impossible for the site to ask for a refund from the winnings you have received, and you are unlikely to want to give some, right?

So in essence, it's all about being aware of every activity we do and being ready for all the risks, so that we become responsible people for whatever it is.

[Zigabel]

I doubt if this can ever be granted just like that, I mean even staked has made huge payments to other gamblers who had some huge wins and cannot go about asking such persons for a split of funds for purpose of them offsetting bills, this is why they always advise for responsible gambling,  if you have got need sand you got a loan to offset such, it's always best to use the loan for such purpose and not to try doubling it at the casino and end up in this situation,  the only thing you can do is to seek help from family and friends as this option you want to explore may not work exactly.

[gunhell16]

There is nothing sorry about the OP's loss here.

It was their choice to gamble the money and they knew about the consequences of the loss which would eventually happen so anyone to blame and to get the money back is the OP itself. They should do whatever that needs to be done to pay the loan back.

Owners of stake.com owe them nothing.

Forum members should stop expressing their empathy to such people.

Even the OP realizes he is wrong for his actions but we all can't help anything except support to get back strong in order to repay his loan, if you complain a lot especially want a return of Stake it is impossible because the casino does not owe and the platform is not wrong.
Just take the lesson, this is a valuable lesson for OP so that in the future there is no need to take loans for gambling.

You're right, and that's really the only thing the op dude can do: learn from what he went through in the situation he actually mentioned.

And most members on this forum also know that we can't do anything about what he wants to happen.Because it's also very impossible to give op what he wants because casinos still have their own rules and policies, like stakes.

[Saint-loup]

its several credit cards/2.5 limit

What does it mean precisely? Honestly I don't think your bank allows its customers including you to take loans from itself for gambling activities, no bank allow that, so your funds have been acquired fraudulently. And the casino could perhaps be considered as a fence (receiver of stolen property) if it keeps the funds, since those funds were defrauded from the bank, and for the sole purpose of sending them to them in addition. In their ToS they say they don't accept those funds("funds that are tainted with illegality") and they can cancel any bets, winnings and even deposits using them. So if they don't want to give you back your deposits they could send them to your bank, at least partially. Your bank could probably even demand them back legally. Casinos are required to carry out the necessary due diligence about funding, especially for such amounts, not only when the customers win. If you've won that amount and they were aware you've used funds defrauded from a bank, they would certainly cancel all your bets without notice.

7.7 You further understand, agree and acknowledge that if Stake discovers, detects and/or identifies that You:

a) Funded/are funding Your Stake Account using third party payment methods; and/or

b) Funded/are funding Your Stake Account with funds that are tainted with illegality, such activity will be deemed as constituting a violation of the Terms of Service amounting to fraud, and by extension:

i) Stake reserves the right, at its own discretion, to suspend or close Your Stake Account; and

ii) Stake reserves the right, at its own discretion, to cancel, reverse or adjust any transactions and to forfeit funds deposited and/or winnings generated from the deposited funds.

https://stake.com/policies/terms

[swogerino]

Unfortunately that is like you say the fault on you and I doubt Eddie is going to give anything back, since early January 2024 you should have stopped after seeing the new pattern, a whopping 99.99% of people losing big and going crazy in the chat. I was also one of them but as soon as I saw this pattern I knew most likely I will end up very badly and I kept playing until November 2024 hoping to hit a win but no, not a single win from early January up to November 2024 when I decided to hit the sack and call it a day. Stake is a massive robbery site as of lately and a lot more victims are there in the same situation as yours or even worse, some people said that Pragmatic "steal" their basic expenses money and I felt sorry for such person, the same is done by all other slot providers, it is a total robbery and the smart person is the one who quits once and forever from that shithole of a site.

[Davidvictorson]

Hello everyone,

This is the only alternative I see to my failure and stupidity. I’ve accumulated 70k in debt on Stake.com, and the bank has given me a five-day deadline. My wages are now garnished, and I can’t even cover basic expenses. I know I’m stupid, but loneliness and addiction have brought me to this point.

I’m writing this message in the hope that it reaches Eddie and that I can try to reach an agreement. I know I gambled and lost—it’s entirely on me. I just have no other choice but to do this. I would like you to consider the possibility of refunding 40% or 50% and closing my account. I won’t gamble again; I need to start therapy and climb out of this hole. But if I can’t find a solution, this will mean my complete bankruptcy and end.

Please, I need a response from Stake. You will still have significant profits from all the years I’ve played there. I know I’m stupid, and this is ridiculous.

It is too late to recover any money you have lost. Also Eddie isn't going to do anything like grant you your wish. Tough times lie ahead for you and you must face the consequences of your actions. Talk to a real person about your situation. Even the therapy you said you need isn't going to be paid for with your story. Close your stake account and any other gambling account to stay free from the temptation to gamble. It is your cross to bear.

[aioc]

You don't have debt on Stake, you have debt on banks.

I agree the title is very misleading, Stake has nothing to do with your debt; its your choice to play and use money that you are not supposed to lose, so leave Stake out of here and work your way with the debt, its between you and the bank, you lose your money on Stake and Stake will not likely refund you because they are also spending for their operation and that's a bad precedent; it will put Stake in a bad light as they cannot uphold their rules.

[Beparanf]

..

…

I can across a very disappointed post by a fellow here in this forum who says borrowing money for quick gambling is good, I can't even see that post anymore. But like I know, he is seriously encouraging people to go borrow to gamble and to me it's a very wrong mentality to go borrow to gamble. Even if someone most borrow to gamble let it be that such person has a work where he would be expecting monthly or weekly income from his work.

We have different perspective on loan but in general this should not be promoted in public post like forum since it might encourage weak mind to do it since some user approved the idea of loan to gamble.

Worst case is a loan shark involvement since they charge higher interest rates for a short period of time. I never dream to apply for loan just to gamble and earn money because the interest alone is hard to beat.

[stompix]

its several credit cards/2.5 limit

What does it mean precisely? Honestly I don't think your bank allows its customers including you to take loans from itself for gambling activities, no bank allow that, so your funds have been acquired fraudently.

He has used credit cards and gone above the limit and the time for paying up and going below the credit line is in 5 days.
It's not a loan but a credit line, beside I'm sure he didn't actually deposit but used the cards to buy crypto and then send it to stake, he didn't break any rules, and it's what a lot of people do.

Anyhow, nothing to do here, declare bankruptcy, close your credit cards, speak to your bank and an accountant, and come up with a reimbursement plan, if you let the situation like this the bank will take more in interest from you than the actual debt and you will never get out of it.

[sunsilk]

I was trying to understand what you're saying OP and your debt wasn't at stake but you being irresponsible took a loan to gamble from the bank.

A loss is a loss and many of these casinos won't just allow you to ask your losses back unless someone considers your plea to them. I see you're definitely regretting and at a loss right now.

Whatever you have in there as your resources, talk to your bank and ask for a stretchable payment schedule and flexible interest rates instead of asking stake.

He maxed out his credit card limit, as far as I understand. But that's just how agents are, they tend to harass borrowers, especially when payments are overdue. To @OP, just stay calm. I had a credit card before that I couldn’t pay off. Up to now, I haven’t been jailed, and no one’s been calling me for updates. At first, I was really scared, so I paid and even got my limit increased. But eventually, I couldn’t even handle the minimum payments anymore.

It might be different in his case if he's from a different country and he has to pay that no matter what the reasons are and wherever he used it.

Just as how you experienced it, he should also addressed it or else he'll get some huge trouble with where he owes a lot of money. And he should also stop pointing out to stake with this problem.

It should be him and the the lender where he had borrowed that money.

[wheelz1200]

Hello everyone,

This is the only alternative I see to my failure and stupidity. I’ve accumulated 70k in debt on Stake.com, and the bank has given me a five-day deadline. My wages are now garnished, and I can’t even cover basic expenses. I know I’m stupid, but loneliness and addiction have brought me to this point.

I’m writing this message in the hope that it reaches Eddie and that I can try to reach an agreement. I know I gambled and lost—it’s entirely on me. I just have no other choice but to do this. I would like you to consider the possibility of refunding 40% or 50% and closing my account. I won’t gamble again; I need to start therapy and climb out of this hole. But if I can’t find a solution, this will mean my complete bankruptcy and end.

Please, I need a response from Stake. You will still have significant profits from all the years I’ve played there. I know I’m stupid, and this is ridiculous.

Hey man its never the end.  Good part is that you understand you have an issue.  I know it sucks but drop every non necessary thing in your life amd look for hours to work a little more.  Ypu can always dig out.  I hope ypu figure a way out of this because bankruptsy is never the end, just a bump in the road.  Has an online casino ever reduced the amount owed though?  I dont think ive seen that.

[finaleshot2016]

No matter how much the debt is, you’ve made your future, you’ve put yourself into danger and chaos. You’re an example of those who lacks value of money and doesn’t have discipline in gambling. Why do you think they will refund you because of what you acted, wasting money and out of control?You even used a cc for gambling, a huge mistake. Stake don’t have responsibilities in that, it’s your choice as a user, now it’s time to pay up those debts.

Yeah it’s not too late to change and pay up your debts but person like you who do mistakes like this and will post in a crypto forum after losing money is kinda not good.

[SUPERSAIAN]

You will not get any results in this title, you will only see messages saying they are sorry. Some banks ask what you will use the money for when giving a loan and may even ask for proof, while others may give you credit without asking directly for your credit score.

I am sorry to say that there is no one who can help you, you can only help yourself, I hope you will solve this as soon as possible to get out of the current debt swamp. You will be more cautious afterwards.

[Ultegra134]

I agree the title is very misleading, Stake has nothing to do with your debt; its your choice to play and use money that you are not supposed to lose, so leave Stake out of here and work your way with the debt, its between you and the bank, you lose your money on Stake and Stake will not likely refund you because they are also spending for their operation and that's a bad precedent; it will put Stake in a bad light as they cannot uphold their rules.

Took me a while to understand what the OP was on about. I couldn't understand how the OP would be in debt on Stake.com; how would he have a negative balance? Couldn't comprehend what he meant and had to read it a few times over. Unfortunately, it's not Stake's issue that you've gone bankrupt; your gambling addiction got the best of you; it's your issue. It's unreasonable to expect to receive a refund for something that's purely your fault. Imagine what would happen if they made an exception for the OP; everyone would simply request a refund and abuse their loss. It's unreasonable to even request such a thing.

[terrific]

You even used a cc for gambling, a huge mistake.

He'll be now part of the testimony of the banks that they won't allow a gamblers to borrow their money. He adds up to the justification why they are not allowing people to transfer funds here and there and even their credit cards. Unless, there's a strong proof that someone is a profitable and professional gambler, that might be a different case. But for him, that's just a no no anymore to these banks and an obligation needs to be paid or else he has to accept the penalties and him being blacklisted in applying CCs in the future if he doesn't settle this case.

[acroman08]

I would like you to consider the possibility of refunding 40% or 50% and closing my account. I won’t gamble again; I need to start therapy and climb out of this hole. But if I can’t find a solution, this will mean my complete bankruptcy and end.

sorry man, as much as  I empathize with you I don't think they'll refund your money, online casinos are businesses and they prioritize profit. also, saying "you won't gamble again doesn't mean anything to them". I hate to say this but this situation you are in is entirely your fault, you should have never gambled money you cannot afford to lose.

[EluguHcman]

It is quite unfortunate that we don't realize ourselves when we are going against our gambling budgets and Contrarily against our gambling disciplines probably because it is not affecting our bank roles yet but then once it has indebted us to the debt of bankruptcy is usually when we realizes those faults.

Thought it is still better late to realize ourselves in other or reshape and take adequate adjustment over on continues measures as we continue to gamble but mind you... Gambling is not a do or die afair gaming activity that you would think of loosing some worths when you back off.

I feel your remorse my friend but hope your appeal with the Stake you are indebted to is not just formalities of emotions compensation  else you are likely to get your case worse.

My advice is that... Quit when you can no longer make good outcomes out of it after paying our debts.

[Joca97]

I dont see any possibility that stake will refund you any money. If they do this for you some other gamblers or whoever can makeup the same reason and ask stake to give them a refund. You made a huge debt with your bank and its not stakes fault or anyone elses is completely yours