The Best Way to Deal With Your Gambling Debts? Refuse to Pay Them!

Gambling Debts

While the majority of people can handle a little bit of a gamble now and again, there are an unfortunate few who should never be allowed anywhere near a gaming table as they rack up debts that they simply cannot afford to pay. One businessman who did just that came up with a novel solution after racking up AU$43 million in gambling debts – he simply refused to pay them! And so begins the story of Dr Wong Yew Choy.

Wong was no ordinary gambler. As the business manager of SBO Bet Limited, a Singapore-based online sportsbook and casino with Cristiano Ronaldo as an ambassador and a partnership with leading German football team Borussia Dortmund and once-EPL team West Bromwich Albion, he should have known all about the dangers of gambling with money you do not have.

For six days in Queensland, Wong could do nothing Wight

Wong was not short of a bob or two, but perhaps his bank account certainly did not stretch to the millions of dollars of debt he amassed during one amazing session at the Star Gold Coast Casino in Queensland, Australia. Wong arrived at the resort on July 26, 2018 and left six days later. During his time at the casino Wong had managed to convince the casino that he had tons of money continually dripping from every pore, and they afforded him the kind of credit arrangements most mere mortals can only dream of.

As already mentioned, Wong was hardly a pauper having arrived at the casino on his private jet. He departed on his private jet too – there was only one problem, though. He left behind a 43 million debt in Australian dollars, which is $30 million.

Wong’s Blank Cheque Goes Boing, Boing, Boing …

In order to cover his credit Wong had presented the Star Entertainment group – the company who run the Star Gold Casino – a blank cheque at the start of his week of gambling entertainment. They were to fill it in once he was away with whatever he owed, then cash it. The finance people scribbled in the figure of $43 million and gave it to their bank … only for the cheque to come bouncing right back. Star Entertainment contacted Wong about his rubbery cheque and he told them why it had bounced – he’d informed his bank not to honour it. When asked why, Wong said that his losses at the baccarat table he had been playing at were not down to his incompetence, but were down to the incompetence of the dealers. Wong said that the casino had agreed that he did not have to pay any losses that he amassed that were down to dealer error, and that he attributed ALL his $30 million in losses.

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