Made my mom quit gambling by offering an irresistible deal
If you are familiar enough with South East Asia countries especially like Malaysia and Singapore, you shall observe how obsessed they are the people into lottery and jackpot betting. These games are often found to be one of the main entertainments for the older generation folks. Unfortunately, my mom is one of them.
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She has been a loyal customer for lottery company like TOTO, Damacai, and whatever 4D, 5D, 6D shit, for more than 20 years. Although she is not as desperate as those serious lottery gamblers, she would constantly contribute a couple of hundreds of Malaysia Ringgit to the lottery company every month. Those number could add up to a handsome sum. Ironically, she knows she stands a slim chance of getting back the betting capital, let alone winning a huge Jackpot. But still, she couldn't leave the losing game while keep telling us that she is going to give it up 'soon' for the last ten years. Pathetically funny.
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This has to be changed
We've talked about this topic yesterday and somehow I just felt like I've had enough of her lottery addiction that I make a suggestion:
From now on, whenever you feel like going to buy the lottery tickets, drop those cash in a box. I will collect and use it to invest in crypto on your behalf.
I'm not sure if one day she would hit a big jackpot to not only cover all lost bets over the decades but winning a huge lump sum of money which is more than enough to retire herself. There is only one thing I'm really certain, and that is the chances of any top 100 cryptocurrencies skyrocketing is much likely to happen than she hitting that big jackpot.
Furthermore, I added some irresistible clauses in the one-year deal. That is regardless how the crypto investment is doing after one year, I will pay her investment back with at least 50% gaining out of my pocket. Meaning if she invested a total of $5000 then she will at least get back a sum of $7500 no matter what. If market decides that she will gain 10 times of her capital, that is what she will be received too.
The deal is on, of course.
The next question is, in what coin should I invest for my mom? I'm not intended to diversify her portfolio as that would be too troublesome for me to maintain. Wait, she is very interested in my articles in Steem and would read it every day despite having no idea what all these crypto and blockchain tech is about. My mom is definitely one of my biggest supporters to create content on Steem. Then why not I use her money to regularly buy in Steem and power my account up? Brilliant idea indeed!
Some will say that crypto is a high-risk investment, I should not put all the eggs in one basket. Maybe. But rather than letting the money completely 'donated' to lottery company with almost zero chance to get back any of it, betting it with crypto sounds a lot wiser to me.
By making this deal with my lottery-addicted mom...
- She can finally give up the addiction which is almost as same as throwing coins in the sea.
- She is already in a 100% winning position as I personally guaranteed her ROI no matter how is the crypto investment's performance.
- She can now support my work on Steem both spiritually and financially.
- I can grow my SP over the course by her regular investment.
- Even if I got to pay cash out all her Steem after one year, I will still be benefited a lot by the additional SP.
- Lastly, if Steem fails and drops to zero she is not losing anyhow. As this will be the same result as betting in lottery.
She already handed me her first investment fund that would otherwise spend on the lottery. And I shall convert it all to Steem as this is one of the best time to buy in when the whole market is on the falling side. I should make a conclusion post after one year to see if she made a wise deal this time.
Certainly a big YES if you ask me.
A friend of mine did that to me too 4 months ago ( gave me 10k) to invest for hr in crypto .i opened account for her in bittrex and diversified and traded and in the up market it reached 24k. But I was not smart enough and waited coz more greed . Went down to 10k again currently. 😞
It is ok. I do not know out of what motivation that you offered such help to your friend. Assuming that was helping her to get rid of some losing games like my mon's lottery gambling, I would say you did a great job. Because if it weren't for you, her 10k would have been long gone.
Thanks for that. I wish I could do more. But your soothing words really help not feeling so guilty !
😎
Haha how to ensure she is not buying behind your back?
This week Singapore got $12million TOTO draw. :)
Yeah, that's why I tried to make her ROI on my deal as attracting as possible. She got at least 1.5 for whatever amount invested yo. Of course, at the end it is still up to her whether to keep her word or not.
I occasionally buy some SG TOTO also, thanks for the info haha.
Very interesting way of getting your mom quit gambling.
This is a hefty sum of return but I think it is absolutely possible. All the best!
Yes, if her goal is to win some money, I gotta lure her by providing a sure-win way. It gonna cost me a lot if the market is not doing well, but if it is skyrocketing we both will be benefited.
Que bien te felicito espero que logres el objetivo. Lo cierto es que los jugadores adictos aunque ganen el premio gordo, si es que algún día lo ganan, en vez de pensar en retirarse lo alienta a seguir jugando. Como ya sabrás esto se transforma en una enfermedad parecida al alcoholismo, donde la persona no reconoce que está enferma. Así que requiere ayuda profesional y una fuerte voluntad para lograrlo. mis mejores deseos para ti y tu madre. Y me parece una excelente idea, saludos.
Thanks.