Author Topic: Gone in an Instant: How One NBA Player (Antoine Walker) Lost $110M  (Read 10841 times)

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Re: Gone in an Instant: How One NBA Player (Antoine Walker) Lost $110M
« Reply #1 on: October 22, 2014, 10:51:18 AM »

Offline manl_lui

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wasn't he gambling with Michael Jordan a lot...

Re: Gone in an Instant: How One NBA Player (Antoine Walker) Lost $110M
« Reply #2 on: October 22, 2014, 10:58:26 AM »

Offline Celtics4ever

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He did not make measured logical decisions on the court, why would anyone expect him to do at gambling?

Re: Gone in an Instant: How One NBA Player (Antoine Walker) Lost $110M
« Reply #3 on: October 22, 2014, 11:00:18 AM »

Offline Tr1boy

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All he had to do worse case was just put his money in a savings account and use the interest to live lavishly . instead he let the casino ruin his life

Very sad

Re: Gone in an Instant: How One NBA Player (Antoine Walker) Lost $110M
« Reply #4 on: October 22, 2014, 11:00:56 AM »

Offline Birdman

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I don't feel sorry for anyone who makes that much money then blows it...
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Re: Gone in an Instant: How One NBA Player (Antoine Walker) Lost $110M
« Reply #5 on: October 22, 2014, 11:11:25 AM »

Offline Tr1boy

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wasn't he gambling with Michael Jordan a lot...

Maybe. The diff is jordan could lose all of his money today and still be rich after a few years due to contracts he has with nike etc.

Walker just got crazy. Just tossing 10k on one round of roulette, blackjack etc. When he won a few of the rounds, thats where the casino reeled him in

Re: Gone in an Instant: How One NBA Player (Antoine Walker) Lost $110M
« Reply #6 on: October 22, 2014, 11:47:28 AM »

Offline Timdawgg

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This is why sports and gambling is a tough mix. I am pretty sure the highly competitive drive that most professional sports players has is what can easily doom them in gambling. The will to win gets them in the end...Once they start losing they fight harder to win.
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Re: Gone in an Instant: How One NBA Player (Antoine Walker) Lost $110M
« Reply #7 on: October 22, 2014, 12:04:34 PM »

Offline manl_lui

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This is why sports and gambling is a tough mix. I am pretty sure the highly competitive drive that most professional sports players has is what can easily doom them in gambling. The will to win gets them in the end...Once they start losing they fight harder to win.

how do you feel when you retire at 65, have more money than say...Jordan Crawford when he retires and becomes a bum  ;D

Re: Gone in an Instant: How One NBA Player (Antoine Walker) Lost $110M
« Reply #8 on: October 22, 2014, 12:08:55 PM »

Offline sofutomygaha

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For all of his terrible decisions and his huge swings of fate, we're talking about a man who lived in a mansion until 2010 and then lived below the poverty line for, like, a second. Now people pay him $10-20k a pop to talk about his little tale of woe.

The best part about all of this is that now his life mission is making his bones by educating young millionaires, on behalf of brokerages, on how to be responsible by putting their money in stocks and bonds.

Gross. Everything about Antoine Walker makes my skin crawl.

Re: Gone in an Instant: How One NBA Player (Antoine Walker) Lost $110M
« Reply #9 on: October 22, 2014, 12:10:39 PM »

Offline Fafnir

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I'm happy he's found a way to make a living post-basketball. He gave me a lot of great moments as a fan even if I didn't love his game most of the time.

Re: Gone in an Instant: How One NBA Player (Antoine Walker) Lost $110M
« Reply #10 on: October 22, 2014, 12:23:04 PM »

Offline D.o.s.

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wasn't he gambling with Michael Jordan a lot...

Maybe. The diff is jordan could lose all of his money today and still be rich after a few years due to contracts he has with nike etc.

Walker just got crazy. Just tossing 10k on one round of roulette, blackjack etc. When he won a few of the rounds, thats where the casino reeled him in

By his own admission, Walker wound up broke after the real estate bubble burst, just like lots of other people who never played professional basketball.

The gambling thing is, IMO, just a way for people to do some vice shaming and ogling.
At least a goldfish with a Lincoln Log on its back goin' across your floor to your sock drawer has a miraculous connotation to it.

Re: Gone in an Instant: How One NBA Player (Antoine Walker) Lost $110M
« Reply #11 on: October 22, 2014, 12:24:51 PM »

Offline Fafnir

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wasn't he gambling with Michael Jordan a lot...

Maybe. The diff is jordan could lose all of his money today and still be rich after a few years due to contracts he has with nike etc.

Walker just got crazy. Just tossing 10k on one round of roulette, blackjack etc. When he won a few of the rounds, thats where the casino reeled him in

By his own admission, Walker wound up broke after the real estate bubble burst, just like lots of other people who never played professional basketball.

The gambling thing is, IMO, just a way for people to do some vice shaming and ogling.
Yeah its the whole: "You're broke? How dare you consume *insert every concievable luxury good including a stuff as simple as a pie for desert". If you just ate bulk rice and beans you could pay your rent/mortgage/alimony/bills/etc."

Re: Gone in an Instant: How One NBA Player (Antoine Walker) Lost $110M
« Reply #12 on: October 22, 2014, 01:14:13 PM »

Offline Celtics4ever

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Gambling is a sickness, I was a bartender at one time at an American Legion, and I 've seen guys blow their whole checks on gambling.  I even tried to stop them but it made them angry.   I feel bad for the guy.   I bet he had a ton of friends while the money was flowing.   The best he could do is tell others his story  maybe it will save some other guy.  But gamblers think they are in control and love that chase that gaming gives them  This is why I never joined any Veteran Clubs too much profit off the veterans, although the funereal stuff is nice.

Re: Gone in an Instant: How One NBA Player (Antoine Walker) Lost $110M
« Reply #13 on: October 22, 2014, 01:47:01 PM »

Offline D.o.s.

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Again, there isn't some kind of mystery to this -- Walker's been very open and upfront about where the bulk of his money went, and it wasn't lost to gambling. I don't see what gambling addiction has to do with it, since, you know, that wasn't the reason he went broke.
At least a goldfish with a Lincoln Log on its back goin' across your floor to your sock drawer has a miraculous connotation to it.

Re: Gone in an Instant: How One NBA Player (Antoine Walker) Lost $110M
« Reply #14 on: October 22, 2014, 01:54:17 PM »

Offline sofutomygaha

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Quote
Yeah its the whole: "You're broke? How dare you consume *insert every concievable luxury good including a stuff as simple as a pie for desert". If you just ate bulk rice and beans you could pay your rent/mortgage/alimony/bills/etc."

You've got to be kidding me. Are you really equivocating between a man squandering a hundred million dollars by living beyond his prodigious means and the "poor people shouldn't have a microwave oven" trope?