MP labels crypto trading as gambling amid surge in demand for online trading support

From Poker Royalty to Crypto Chaos: One Man’s Roller‑Coaster Journey

Michael (a pseudonym that keeps him safely tucked from the spotlight) piled up a pretty solid (and stable) poker career before he swapped chips for bitcoins. For eight‑nine years as a professional poker pro, he raked in extra‑money, but the real drama began when he decided to mix his family planning with vibes that exploded on Wall Street.

University Vibes: Small Bets, Big Wins

It all started in university, where Michael was a quick‑fire card dealer hustling for pocket coins. He won it all in a simple–money game, a few £5 cashes here, a £10 bluff there, and before he knew it… £100,000 in rand money. The fun was all downhill after that—spending more on bets than he could afford.

• Tax Dust‑Burying: He dumped half his bank balance chasing losses; brownie‑shorts; a student leave of absence promised better focus, but it just deepened the slump.
• Life Interrupted: Pregnancy jolted him into sober gambling; he stopped reckless bets and margined down to playing for real.

Recall: The Bitcoin Bonus

After his first kid, Michael left the poker card table well. A new job generosity came as a Bitcoin bonus—he had £8,000 worth of crypto. No crypto knowledge yet, but his friend had eight‑fold returns in 2016. Michael walked the path of hope and didn’t liquidate immediately.

COVID‑19: A Market Crash at Home sic

2020 brought pandemic panic, and so did the crypto crash. He saw an £8k tip to drop in half, then he sold, only for it to rebound. He squeezed the wind up with earnest doubt—spending the money he’d earned on crypto cherries as he aimed to crush the market’s high like a sweet‑to‑toffee bounty.

Crypto – A Wild 7‑Minute Stock

Compared to a typical 5% share model, crypto moves by 4000% in golden minutes. He fell head‑first into meme coins: bought a coin at $3, watched it rocket to $22 and then slip back to $6. It was like lifting a sugar‑cube drink—”sudden sweet” then “soon‑sad” drop.

In the summer, with the market wobbly and hopeful, the guy earned an $3m portfolio at a Turkish holiday. Windfall! He dreamt of the next $5m … $10m. GMT: 99% of his net worth on volatile coins. The next day, the value almost halved, and he was living a “gambling‑like” reckless addiction, wailing at his phone every 30 minutes.

Leverage Betting & The Descending Love Triangle

February 2021: he was little by thumbs, but he borrowed his own coins for cash to buy more crypto. High‑risk math: borrowed coins new buy near 100% leverage. One alternate bloom: the market drop in May 2021 happened while he was still holding.

He was a high‑stakes gambler, chasing losses. His family was spiked. She single‑handed child‑care and inverted mental health. He was drifting to a heavy makeover end‑of‑life at midnight for his trading.

Family Intervention: The Real Hack

Last month of a family vacation, his one single major trade made him not go for that break. His brother came crashing in, performing an “intervention” to stop him from betting. He offered to take over the account, but when the market surged they re‑sold them—straight up.

Shorting – The Final Lurch

When the market made a pop rebound, he made a short and lost hundreds of thousands. He went from profitable to an 89% loss debt and his pride was smashed while the bank account saw the holes widen. He was losing his partner; his children were lonely and seeing his “Go‑Get‑Money” smacks of nothing.

At a Crossroad: Medical & Counseling Radiation

We heard a “secret—shut down trading” repeated as the final handshake to hell. His wife shouted how he was losing the way in, but his brother forced him to > sell $100k$ in a blink. His work boss shook his hand, hear, “you’re running away from.”