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Topic: Are there play and pay later casinos? - page 6. (Read 1594 times)

hero member
Activity: 812
Merit: 560
June 17, 2023, 06:41:06 AM
No casino would survive with that kind of system. While they may attract a lot of borrowers, the question remains: can they ensure that they will receive the payment? We are discussing online casinos, where most of us gamble anonymously, so the risk for the operator is very high.

They cannot even accept giving such offer just to make sure that they satisfy their gamblers, that's but satisfaction but stupidity, because at the end you will not achieve satisfying the gamblers than disappointing yourself, if you're to start a new casino business, you will hardly see someone to lend you money to start an establishement and if you do, then you must have staked down your assets as qualateral instead, so why should you be a loan vendor to gambler who don't have money to gamble.

I am aware that some land-based casinos have lenders, but they would not easily lend money without collateral. This collateral serves as assurance since its value is higher than the loan, and the interest rates are typically high. These lenders are often referred to as loan sharks.

There are loan sharks and those people don't take it easy with them, they will take down their entire assets used as qualateral if they fail or to make repayment, even to this days, only few land base physical casinos engage doing his kind of offer by giving loan for gambling.
hero member
Activity: 2926
Merit: 657
No dream is too big and no dreamer is too small
June 17, 2023, 02:31:31 AM
No casino would survive with that kind of system. While they may attract a lot of borrowers, the question remains: can they ensure that they will receive the payment? We are discussing online casinos, where most of us gamble anonymously, so the risk for the operator is very high.

I am aware that some land-based casinos have lenders, but they would not easily lend money without collateral. This collateral serves as assurance since its value is higher than the loan, and the interest rates are typically high. These lenders are often referred to as loan sharks.
sr. member
Activity: 1288
Merit: 305
yes
June 16, 2023, 11:33:18 PM
Taking a loan outside the casino, yes, that's possible. But within the casino itself, nope.
Never heard that as well. Their business is gambling and not a lending company.
So as much as possible, they want cash flowing in and not flowing out.
I don't think any casino would offer loan services to their players. Hence, we have never heard such offer from them.
But you can definitely take a loan outside, like in banks, family, colleagues and other online loan apps.
Casinos offer the greatest alternatives to their customers, but they do not go to a high lengths to make their customers satisfied. Playing casino on credit is the beginning of owning debts; it is never a possibility in the gambling sector; not a single casino would be a party to such an arrangement featured; gamblers would be extremely delighted, but this would also grow the huge pending debts in their possession. Banks are recommended for loans when you will have some value collateral if you fail to meet the needed particular period to repay the loan.
legendary
Activity: 2590
Merit: 1882
Leading Crypto Sports Betting & Casino Platform
June 03, 2023, 11:16:19 PM
Never heard of such, and even if there be, I think it's plain stupid, cus I personally will play on the casino, and if I don't Win, I will never return to pay the money, I will just go and start gambling on another casino maybe outside where I live.
Totally a stupid decision if someone who's addicted to gambling will result in this. We saw how gamblers who have gambled and then used loan money for their gambling activities, they've never been trusted again. But with such condition, I don't think the casino will just allow it without anything in return to them knowing that there are also nasty gamblers that won't pay them if they hand the money and allows them to gamble freely and easily.

Since casinos are aware of how gambling works and how debt-ridden gamblers may become, I don't believe any will permit borrowing and lending. We already know that borrowing money to gamble will never be the best option. We can't afford to lose these funds, therefore gambling with them will be a major risk.
I agree that you need to have questioned your friend because that sum is not small. If casinos made such an offer, many players would take advantage of it, causing them to suffer severe losses. If casinos ever start allowing borrowing, more gamblers will undoubtedly develop gambling addictions.
Let us say that some casinos do appreciate the loyalty of their customers and it's like a limited offer and feature for those that they've seen being loyal to them. But we do know that gambling with borrowed money isn't going to take you any longer and it's a plus that it will only give you more debt including the interest. When we've got money that came from loan, we tend to just spend it because we're thinking that we'll even pay the interest of it and there's an urgency of spending it as soon as possible.

Even thought with that for sure a casino will not let their players to lend money on their platform since they know the risk for not getting paid. Maybe a loyalty bonus will be given to their loyal costumers but not a loan since they might get a lot of defaults especially if there gamblers cannot afford to pay the money especially when they already lose everything they had. Also much better for a player not to think about taking loan since this will never result any good and this put us on huge risk to get bankrupt.
I think that one of the things that can be done is that in a casino you cannot give money loans due to the danger of bankruptcy, however if the player is made a series of demands under which they make commitments, obviously the KYC would be something hellish, but if there are ways to do it, and facial verifications and everything, I think it would be a way to do it, with weekly or daily payments, depending on how the client wants, in case they don't pay because they don't want to Well, they simply go to the clause where they require mortgage documents or a commitment with the security entities, I think that would be a way, and that obviously the loans are given with the help of a bank, where the casino earns a % for it.
legendary
Activity: 1820
Merit: 1207
June 03, 2023, 10:41:38 AM
Even myself I’ve never heard that offer. Maybe in some lending casinos it could be possible but not with regular casinos. And if ever that really exists, I don’t think it’s a good thing since it will only encourage a lot of gamblers to gamble and play even above their means. That way, gambling addiction will certainly surge high.
And there's no such lending casino until now Cheesy

I think any licensed casino is fighting against of gambling addict since they have a self exclusion feature, if the casino offer this kind feature, this will be against of their gambling addict rule. The casino need to accept people can't pay the money they lose to gamble too, this will harm their business.

I don't think pay later feature in casino is win-win situation.
legendary
Activity: 2310
Merit: 2073
June 02, 2023, 03:27:19 PM
Lol. Never heard about such a concept, maybe it is possible with special promotions offered by casino management.
It is not something people's life should depend on, so I can't see the reason why some people think it is necessary to have "play and pay later" casinos.
Maybe taking a loan can be the next easy alternative to this concept since it is easy to get one-click loans thanks to today's online banking apps.
Even myself I’ve never heard that offer. Maybe in some lending casinos it could be possible but not with regular casinos. And if ever that really exists, I don’t think it’s a good thing since it will only encourage a lot of gamblers to gamble and play even above their means. That way, gambling addiction will certainly surge high.

There is nothing worse than gambling in a casino with someone else's money and not being able to control yourself. If you really value yourself and your family, then never gamble on debt, even if you are offered the opportunity. Play only with the money you are willing to part with here and now. Better yet, imagine that the money you deposit is a kind of ticket to the world of gambling entertainment. In this case it is much easier to part with the money after you lose it. If you win, it will be an additional bonus.
hero member
Activity: 1330
Merit: 585
Leading Crypto Sports Betting & Casino Platform
June 02, 2023, 03:18:34 PM
Lol. Never heard about such a concept, maybe it is possible with special promotions offered by casino management.
It is not something people's life should depend on, so I can't see the reason why some people think it is necessary to have "play and pay later" casinos.
Maybe taking a loan can be the next easy alternative to this concept since it is easy to get one-click loans thanks to today's online banking apps.
Even myself I’ve never heard that offer. Maybe in some lending casinos it could be possible but not with regular casinos. And if ever that really exists, I don’t think it’s a good thing since it will only encourage a lot of gamblers to gamble and play even above their means. That way, gambling addiction will certainly surge high.
maybe there are casinos that allow gamblers to bet pay later but of course with physical casinos and usually casinos will put forward requirements such as leaving a credit card to be guaranteed to bet pay later. of course the surge in gambling addicts will increase very high if the casino system is like this because gamblers have no control whatsoever.
hero member
Activity: 3052
Merit: 606
June 02, 2023, 02:45:26 PM
Lol. Never heard about such a concept, maybe it is possible with special promotions offered by casino management.
It is not something people's life should depend on, so I can't see the reason why some people think it is necessary to have "play and pay later" casinos.
Maybe taking a loan can be the next easy alternative to this concept since it is easy to get one-click loans thanks to today's online banking apps.
Even myself I’ve never heard that offer. Maybe in some lending casinos it could be possible but not with regular casinos. And if ever that really exists, I don’t think it’s a good thing since it will only encourage a lot of gamblers to gamble and play even above their means. That way, gambling addiction will certainly surge high.
hero member
Activity: 2408
Merit: 584
June 02, 2023, 01:18:32 PM
If a casino decided to implement this then most likely things like jewelry and precious metals could be accepted by them and then give the gambler a loan based on the value of those goods, now some may suggest that cryptocurrencies were used in this way as well, but not only this would not make much sense as gamblers could use their cryptocurrencies directly anyway, but it is likely many users will try to dump their shitcoins to the casinos and could begin to use them as an exchange instead.
For physical casinos it works nicely to hold jewelry and precious metals from gamblers as collateral, but for online casinos it doesn't work, because the costs of sending those physical items to the company (sometimes on the another side of the world) are just unrealistic and too time consuming. Virtual casinos could implement a feature like that, but collecting virtual items only as collateral, what is really hard if we disconsider cryptocurrencies as possible collaterals. Probably they would grab gamblers' accounts from platforms such as Steam, valuing the collateral price through the value of items the account holds in games, for an example.
That's a pretty difficult concept to implement, I'm pretty sure that casinos wouldn't really be interested in taking digital accounts such as Steam as collateral for giving out loans in cryptocurrencies, the accounts have nothing more than digital collectibles that are in-game and most of the time, you can't sell off the items that you've bought in a game, so they are simply only just valuable within your game and has no other worth.

I also think that if something like that was a viable option for online casinos to give out loans to their players and also charge some interest on top, they would have already implemented it as it would obviously earn them more revenue.
hero member
Activity: 2044
Merit: 784
Leading Crypto Sports Betting & Casino Platform
June 02, 2023, 11:35:13 AM
If a casino decided to implement this then most likely things like jewelry and precious metals could be accepted by them and then give the gambler a loan based on the value of those goods, now some may suggest that cryptocurrencies were used in this way as well, but not only this would not make much sense as gamblers could use their cryptocurrencies directly anyway, but it is likely many users will try to dump their shitcoins to the casinos and could begin to use them as an exchange instead.
For physical casinos it works nicely to hold jewelry and precious metals from gamblers as collateral, but for online casinos it doesn't work, because the costs of sending those physical items to the company (sometimes on the another side of the world) are just unrealistic and too time consuming. Virtual casinos could implement a feature like that, but collecting virtual items only as collateral, what is really hard if we disconsider cryptocurrencies as possible collaterals. Probably they would grab gamblers' accounts from platforms such as Steam, valuing the collateral price through the value of items the account holds in games, for an example.
full member
Activity: 1148
Merit: 151
Hire Bitcointalk Camp. Manager @ r7promotions.com
June 02, 2023, 10:37:36 AM
snip

So is gambling debt one way or other possible without the person taking loan or borrowing money?
Gambling alone carries a big risk, let alone borrowing money to gamble, the risk increases many times over.  many have warned that gambling with money that you can afford to lose, meaning that money (capital) is not from your emergency money, not your only money, and not the money you make from bank loans or loan sharks. 

Gambling is an activity full of risks if you don't have good skills when doing it (especially money management), don't ruin your life, and be a true connoisseur of gambling without heavy burdens and demands.
hero member
Activity: 2744
Merit: 588
June 01, 2023, 03:55:16 PM
In a way it is a good thing that online gambling is getting more popular as it is simply too difficult to implement policies like those online, however it would not surprise me if at some point a casino tried to do this and gamblers had to send their valuables to the casino so the casino held them as a collateral and then they extended a loan to their customers in the forms of funds on their casino, however the logistics of such a model are so complex that I think we will need to wait for a long time before someone dares to implement it.
If that's done by the casino and gamblers have to send valuables as loans then what kind of valuables should be sent?
This is the online gambling industry so it is impossible for us to ship goods, moreover every casino has customers from different countries so it is impossible to provide goods for guarantees.
In my opinion, it is better to provide loans to several accounts that have reached a high VIP level and also look at the activity of these accounts in the casino, but there is still a limit to the amount of loans to match what the casino provides.
If a casino decided to implement this then most likely things like jewelry and precious metals could be accepted by them and then give the gambler a loan based on the value of those goods, now some may suggest that cryptocurrencies were used in this way as well, but not only this would not make much sense as gamblers could use their cryptocurrencies directly anyway, but it is likely many users will try to dump their shitcoins to the casinos and could begin to use them as an exchange instead.

I don't think this will happen in casinos, more likely, they will just send you to a third party lending services.
This is another complicated business to be in, so gamblers should not think that gambling sites will offer such service.
Even if you have your collateral, not strong reason for them to open such lending board. That's just my opinion.
If you have collateral, just go to other lending services if you think you want to avail extra money for your gambling activities.
Nowadays, you will be surprised as there are so many online lending apps offering competitive rates that you can choose from.
legendary
Activity: 2534
Merit: 1338
June 01, 2023, 03:49:33 PM
In a way it is a good thing that online gambling is getting more popular as it is simply too difficult to implement policies like those online, however it would not surprise me if at some point a casino tried to do this and gamblers had to send their valuables to the casino so the casino held them as a collateral and then they extended a loan to their customers in the forms of funds on their casino, however the logistics of such a model are so complex that I think we will need to wait for a long time before someone dares to implement it.
If that's done by the casino and gamblers have to send valuables as loans then what kind of valuables should be sent?
This is the online gambling industry so it is impossible for us to ship goods, moreover every casino has customers from different countries so it is impossible to provide goods for guarantees.
In my opinion, it is better to provide loans to several accounts that have reached a high VIP level and also look at the activity of these accounts in the casino, but there is still a limit to the amount of loans to match what the casino provides.
If a casino decided to implement this then most likely things like jewelry and precious metals could be accepted by them and then give the gambler a loan based on the value of those goods, now some may suggest that cryptocurrencies were used in this way as well, but not only this would not make much sense as gamblers could use their cryptocurrencies directly anyway, but it is likely many users will try to dump their shitcoins to the casinos and could begin to use them as an exchange instead.
hero member
Activity: 2562
Merit: 586
What if the loan amount is still small and within their capacity? And the reason why they took a loan is they can not wait to play anymore but it does not mean that they already lose earlier. It's just their urge to play a gambling unexpectedly kicks in. Borrowing small amounts of money should came up with smaller interest but the higher the amount the higher the interest as well.

IMO it's not bad to owe someone else money but as long as you are going to pay them on the designated time so that no hard feelings are going to be felt and nothing bad will happen to you because some people doesn't have a long patience and they might do a revenge eventually.
One should not borrow money from somewhere only to gamble because it will eventually start to become a habit, and one should be able to control the urge to gamble if they don't have money at that particular time, and if one can't control the urge, it simply means that they are addicted to gambling, and if that's the case, you won't refrain from taking a loan again once you've lost the previous one.

And if that continues, it can be bad for both the lender and the borrower, the lender won't be able to get all their loans back with interest because the borrower has already become an addict and will surely lose everything in gambling.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
Loansharks providing loans happens on the traditional casinos only but not online casinos. But it would be interesting to see one online going for it and connect to their users physically.

It will sounds a bit funny but hey they could take advantage of the gambler's weakness. They know some couldn't resist it and asking collateral like their valuable cars or wedding ring.
Before borrowers can borrow money at loansharks, they must go through a very strict verification process because we are in an online world where people can use fake identities to commit fraud. In addition, money borrowers must also provide collateral whose value may be almost equal to the amount they want to borrow. And it can be a problem for borrowers if they can't return the money to loansharks because they will be hunted until they repay the loan. But it will be interesting to see if online casinos lend to gamblers even though that could trigger gamblers to become more addicted to gambling again.
hero member
Activity: 1652
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Leading Crypto Sports Betting & Casino Platform
-snip-
In a way it is a good thing that online gambling is getting more popular as it is simply too difficult to implement policies like those online, however it would not surprise me if at some point a casino tried to do this and gamblers had to send their valuables to the casino so the casino held them as a collateral and then they extended a loan to their customers in the forms of funds on their casino, however the logistics of such a model are so complex that I think we will need to wait for a long time before someone dares to implement it.
If that's done by the casino and gamblers have to send valuables as loans then what kind of valuables should be sent?
This is the online gambling industry so it is impossible for us to ship goods, moreover every casino has customers from different countries so it is impossible to provide goods for guarantees.
In my opinion, it is better to provide loans to several accounts that have reached a high VIP level and also look at the activity of these accounts in the casino, but there is still a limit to the amount of loans to match what the casino provides.
legendary
Activity: 2996
Merit: 1054
Leading Crypto Sports Betting & Casino Platform
Loansharks providing loans happens on the traditional casinos only but not online casinos. But it would be interesting to see one online going for it and connect to their users physically.

It will sounds a bit funny but hey they could take advantage of the gambler's weakness. They know some couldn't resist it and asking collateral like their valuable cars or wedding ring.


In a way it is a good thing that online gambling is getting more popular as it is simply too difficult to implement policies like those online, however it would not surprise me if at some point a casino tried to do this and gamblers had to send their valuables to the casino so the casino held them as a collateral and then they extended a loan to their customers in the forms of funds on their casino, however the logistics of such a model are so complex that I think we will need to wait for a long time before someone dares to implement it.

I follow you with that opinion, it's possible but the implementation might take some time as reviewing on how things will be executed and how those valuables can be shipped out unless that particular casino will be available on most places where they can simply accept those collateral and let the gambler to take the loan.

We never know how or if someone will embrace the concept, but if it's doable, then we can expect that it will be offered.
legendary
Activity: 2534
Merit: 1338
Loansharks providing loans happens on the traditional casinos only but not online casinos. But it would be interesting to see one online going for it and connect to their users physically.

It will sounds a bit funny but hey they could take advantage of the gambler's weakness. They know some couldn't resist it and asking collateral like their valuable cars or wedding ring.


In a way it is a good thing that online gambling is getting more popular as it is simply too difficult to implement policies like those online, however it would not surprise me if at some point a casino tried to do this and gamblers had to send their valuables to the casino so the casino held them as a collateral and then they extended a loan to their customers in the forms of funds on their casino, however the logistics of such a model are so complex that I think we will need to wait for a long time before someone dares to implement it.
hero member
Activity: 2800
Merit: 595
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Lol. Never heard about such a concept, maybe it is possible with special promotions offered by casino management.
It is not something people's life should depend on, so I can't see the reason why some people think it is necessary to have "play and pay later" casinos.
Maybe taking a loan can be the next easy alternative to this concept since it is easy to get one-click loans thanks to today's online banking apps.

Taking a loan outside the casino, yes, that's possible. But within the casino itself, nope.
Never heard that as well. Their business is gambling and not a lending company.
So as much as possible, they want cash flowing in and not flowing out.
I don't think any casino would offer loan services to their players. Hence, we have never heard such offer from them.
But you can definitely take a loan outside, like in banks, family, colleagues and other online loan apps.

I also have not heard of any casino loaning their player.  Most I heard is that loan sharks often take advantage of the situation and offer loans with huge interest and this is where most gambler get their fund to continue playing after their bankroll is depleted.  Aside from that people who are addicted to gambling can also use their credit cards to generate funds for their gambling activity.  But never I saw casino offering any play now and pay later gambling promotions.


Loansharks providing loans happens on the traditional casinos only but not online casinos. But it would be interesting to see one online going for it and connect to their users physically.

It will sounds a bit funny but hey they could take advantage of the gambler's weakness. They know some couldn't resist it and asking collateral like their valuable cars or wedding ring.

legendary
Activity: 3010
Merit: 1280
Get $2100 deposit bonuses & 60 FS
Lol. Never heard about such a concept, maybe it is possible with special promotions offered by casino management.
It is not something people's life should depend on, so I can't see the reason why some people think it is necessary to have "play and pay later" casinos.
Maybe taking a loan can be the next easy alternative to this concept since it is easy to get one-click loans thanks to today's online banking apps.

Taking a loan outside the casino, yes, that's possible. But within the casino itself, nope.
Never heard that as well. Their business is gambling and not a lending company.
So as much as possible, they want cash flowing in and not flowing out.
I don't think any casino would offer loan services to their players. Hence, we have never heard such offer from them.
But you can definitely take a loan outside, like in banks, family, colleagues and other online loan apps.

I also have not heard of any casino loaning their player.  Most I heard is that loan sharks often take advantage of the situation and offer loans with huge interest and this is where most gambler get their fund to continue playing after their bankroll is depleted.  Aside from that people who are addicted to gambling can also use their credit cards to generate funds for their gambling activity.  But never I saw casino offering any play now and pay later gambling promotions.
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