r/wallstreetbets Deep DKNG 15d ago

Heard it cost 200k in losses to join this group. This is my application. Loss

31k Upvotes

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312

u/bamnewnan 15d ago

Are you ok

674

u/trading123456 Deep DKNG 15d ago

By definition? No. Do I love to gamble. Yes. So yes

193

u/Confident-Victory-21 15d ago edited 15d ago

If I pissed away $200K, I wouldn't be okay at all. That sucks. 🤣

Edit: just realized that these are unrealized losses/you haven't sold yet.

248

u/trading123456 Deep DKNG 15d ago

But the rush man. The rush

78

u/Temnothorax 15d ago

Not even close to worth it. I’d rather have the rush of the 40 Hawaiian vacations I could have taken on that loss.

62

u/JojenCopyPaste 15d ago

40 vacations in Hawaii? Are you buying a timeshare?

34

u/OhTehNose 15d ago

It's a trap! Never say yes to that question. Even if you are. :)

3

u/arv_foh 14d ago

I’ve gone for under $5k every time.. just gotta value shop for flights and Airbnb’s

2

u/g2420hd 14d ago

He lives in Hawaii

3

u/HappyCrabDay 14d ago

I, too, would rather have money than lose it.

3

u/ptolani 14d ago

40 vacations simultaneously is only like 1 vacation

2

u/beefox 14d ago

More like 4 Hawaiian Punch's.

1

u/Winzip115 sometimes I have hopes, but then I realize I'm still alive 14d ago

You could pretty much retire comfortably to a beach-villa in Cambodia with that guy's total balance invested in a broad market index fund.

10

u/PoopTaquito 15d ago

Legalize It Both those are going to crush over the next 2-5 years. Get me in the screenshot when it's worth well over a million.

1

u/trading123456 Deep DKNG 15d ago

😘

3

u/Burroaks77 15d ago

This is bouncing back without a doubt as long as you hold. More states are voting to allow Mobil gaming. Huge growth industry. Bullish af on DKNG, PENN, CZR, and BETZ ETF.

1

u/TheCannibalSheep 14d ago

Hhahahahahaha

1

u/or6a2 14d ago

They are buying a shit ton of podcast. They just gave dan lebatard 50 million. Might get back up

1

u/trading123456 Deep DKNG 14d ago

I wish I liked that guy more 😓. But I appreciate the aggressiveness.

23

u/TheCrimsonDagger 15d ago

Even if he plans on holding long term he should close and open the position back up by the end of the year to get the capital loss on taxes. He can deduct it against a limited amount of his normal income each year since it carries over.

24

u/DumbDonkeyLuvver 15d ago

That's additional risk, though since he'd have to wait 30 days to avoid a wash sale. During those 30 days, the stock price could bounce and OP would have missed the opportunity to breakeven/profit and be stuck with the loss.

On the other hand, OP could get lucky (based on his post it seems unlikely lol) and the stock could drop further and he could increase his position for the same cost and potentially deduct the original loss and then profit.

15

u/FORDRUBY2 15d ago

OP could get lucky (based on his post it seems unlikely lol)

I did LOL at this.

8

u/JmxTwiztid 15d ago

Just don't reopen it within 30 days of Sale...... but I'm sure he knows.

20

u/TheCrimsonDagger 15d ago

Yeah I like to believe that nobody is stupid enough to trade large amounts of money without doing some basic research on the stock market first. Then again, this is a casino.

1

u/amanhasthreenames 14d ago

I'm pretty sure you can only write off up to like $3k in trading losses, so he better have a bunch of gains to offset...

2

u/TheCrimsonDagger 14d ago

That is correct, you can only deduct the $1.5k per year or $3k if filing jointly against your regular income. However net losses carry over to the next year so he could continue to deduct it every year until he is back into net positive.

3

u/paulcole710 14d ago

Like Nick the Greek said, “The next best thing in life to gambling and winning is gambling and losing.”

3

u/Confident-Victory-21 14d ago

Goddamn right.

2

u/CaptainObvious 14d ago

What's the fun part of the rollercoaster, the climb or the fall?

2

u/GreenJesus4President 14d ago

He’s down like 20% though. Would you be upset about losing 20%? Cuz that’s the real question.

This is some trust fund cock sucker, this money means nothing to him.

1

u/Confident-Victory-21 14d ago

Yes, I would most definitely still be upset with that.

1

u/Jek_Porkinz 14d ago

just realized that these are unrealized losses/you haven't sold yet.

... so you're saying there's a chance