There are screenshots of him talking in discord (Ice flight's maybe?) about how he had a lot of medical bills related to at the time very recent hospital stays. But that he was ignoring them so he could spend money in order to buy more gen 1 imps because he believes then to be investments.

Basically what he admits to doing is stalking old accounts with imps, finding them on other websites, and then spending loads of money on whatever site the owner plays to get their imp.

Although like everyone else I highly believe he just pays some of these people straight USD.