I’ve told plenty of stories about how gaining and losing success is not something most people relate to. And how the particular way it happened to me is an even more unique path. One that even experienced therapists couldn’t put a finger on. Sometimes I feel entirely alone in that world.
But there IS one exception.
I once read a story about an extremely successful pro sports bettor who had begun supporting himself that way sometime in the 1970s. By the time he was in his 40s, he had a net worth of almost 10 million dollars. Was already starting to put his kids through college. I’m sure he felt like he was living the dream, and always would.
Then came the 1985 World Series. And that was when his life changed.
The St Louis Cardinals were playing the Kansas City Royals, and the Cardinals were a 2 to 1 favorite to win the series. This gentleman wagered $2 million to profit $1 million on the Cardinals. Notice the first parallel here to my story? No one should ever risk 20% of their net worth on a bet like that. Or even close. I imagine that he was too blinded by his past profits to care enough about making those kinds of mistakes. Something I know quite well. Continuing on:
St Louis won 3 of the first 4 games. For those who aren’t familiar with American sports, the World Series is the best of 7 (meaning that you keep playing games until one team has won four times). So, the Cardinals were one win away from the title. And that was despite one of their key players suffering a fluke injury early in the series. So, while this guy had risked too much on the Cardinals, he had a really good chance of getting away with it this time.
They lost Game 5. Then, in Game 6, the Cards were ahead 1-0 going to the bottom of the 9th inning. Three outs away. And that was when one infamous moment in time changed everything:
Kansas City’s first hitter should have been out, but a terrible call by the umpire left him safe at first base. That call is still talked about to this day in the baseball world.
KC came back and won the game 2-1. Then they destroyed the Cardinals in game 7, winning the title. And costing that bettor an agonizing $2 million loss. But hey, despite all that, he still had a net worth of $8 million. Time to move on, try and get past it, learn from your mistake, and so on, right?
Well, the guy never recovered.
When he was interviewed about all of this about 10 years later, he was in the basement of a modest house with baseball games on everywhere. Trying to paste together some new success a thousand bucks or two at a time. Wondering if he was ever going to have enough capital again. How he’d pay back borrowed money. His kids were trying to be as supportive as they could (not financially, but any other way possible). They had so much appreciation for what he’d done for them growing up, but now their dad hadn’t been the same person for a long time.
And they didn’t know if he ever would be. Once things turned downhill, his bad habits trumped his skills from then on. The overbetting that used to help his results was now a highly destructive problem (as it always will be at some point, no matter how good you are). It didn’t matter how talented he was at his craft, or how many years he’d done so well in the past.
Now that I’ve been in the same boat for such a long time, I wish I could find that story again. Can’t even see a trace of it on the internet. He’s the only person I’ve ever read about who so closely mirrors my own strengths/weaknesses and rise/fall.
I’d love to talk to him. Let him know that I get it. Hear the rest of his story. Find out if he ever got things turned around.
Before it’s too late for me to do the same.