In a new book that’s coming out next week, John Daly discloses that he’s lost between $50 and $60 million in his life through gambling. That’s… Goodness gracious. That’s a “holy fuck” kind of a number. His gambling problem appears to be not only addiction, but he also seems to be a really, really bad gambler.
In one episode, he won $750,000 for his finish in the World Golf Championship… then drove immediately to Vegas and lost $1.65 million in five hours. The most bizarre part of the story, at least to me, is that he lost that much playing $5,000 slot machines… which aren’t even fun. To each his own, I guess, but… if you’re going to lose that much lumber, at least make it enjoyable. At least do more than pull a lever. Some blackjack, some craps, some poker… I dunno. That might just be me.
There are other stories just like one in the article. It’s really just staggering… I can’t relate. And this, which frightens the hell out of me, is his plan for the future:
He said he plans to start at the $25 slots in the casinos and set a “walkout loss number,” which would tell him it’s time to leave.
“If I make a little bit, then maybe I move up to the $100 slots or the $500 slots, or maybe I take it to the blackjack table,” he wrote. “It’s their money. Why not give it a shot, try to double it? And if I make a lot, I can…
“Well, that’s my plan.”
I think that’s a very bad plan. I’ve got a better plan, I think: stay the hell out of the casino. Walkout loss numbers are good, but… you can’t finish the sentence without talking about upping your bets and trying to double your money. That’s a pretty good sign that you don’t have a handle on this problem. It’s like a heroin user saying, “You know, I think I’ll just shoot up a little bit.”
Don’t get me wrong, I realize that it’s not as easy as just stayout out of the casino. The man is clearly the all-time heavyweight champion of addictive personalities. While talking to former Cowboys linebacker Hollywood Henderson in rehab for drinking, Hollywood told Daly to be careful, because he’d find something sooner or later that he loved as much as drinking. It’s gambling… and, you know, if it goes too far with gambling, you don’t start shaking and need help walking off the green. You get Joe Pesci clamping your head in a vice.
I really wish the best for John Daly… some major therapy is in order here. PGA Tour commissioner Tim Finchem has offered the help and support of the Tour, and I hope they can do something for the guy.
insomniac
When your money management strategy has a loss-limit but no directive for when to stop gambling if you’re actually ahead of the game, then your only possible outcome is to eventually lose whatever your limit is…if you’re even able to adhere to that number.
Speaking from experience, for the compulsive gambler, it’s easy to walk away from the table when you’re flat broke. The hard part is learning to walk away when you’re winning. The gambler’s mentality is to “ride the streak,” which inevitably leads to riding your bankroll straight into the ground.
And yeah, I know I just said the same thing twice. Maybe it’s because I’m trying to reaffirm that lesson in my own mind.
Anyone know the line on tomorrow’s Rangers/Devil Rays game?
May 2, 2006 at 12:05 am
seamus
When you win a little, keep betting because “It’s their money.” With customers like these, Vegas has the best business model on Earth.
May 2, 2006 at 1:17 am
CheeseheadPete
How about staying out of the casinos until he loses 50lbs. He might want to give up on wives for awhile too.
May 2, 2006 at 9:19 am
jeff
More entertaining ways to spend $50-$60 million? Why not try to match Wilt Chamberlain’s 20,000+ women record paying $3,000/night escorts? I mean, think of the god-like knowledge you’d have at that point.
May 2, 2006 at 7:18 pm
Matt Sussman
Well I guess we know why he wrote this book … if he didn’t, a bookie would have his legs broke.
–Suss
May 3, 2006 at 12:55 am
Doesn'tMakeSense
How did Daly get $50 million in the first place?!
May 4, 2006 at 5:18 pm