Can you trust a gambler with your money/savings? - page 3.

noormcs5

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Quote from: crzy on June 25, 2022, 05:46:41 PM

I’m wondering why you need someone to gamble for you? I don’t see any sense here since gambling is a game of luck and there’s no real strategy that makes you more profitable because gambling will always be in favor to the house.

Although the OP case is different, but people do not under this as they think that gambling gives much higher returns, which is not true most of the time. Secondly, sometimes the other person also convinces that he is a good gambler who has techniques and skills to always make money in gambling. He may use fake screenshot proof to convince the other part and get money from them. People are already disappointed with their own performance in gambling so they agree to give their money to other person although they do not know that the gambling results won't change much.

virasog

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Quote from: Jating on June 23, 2022, 06:04:37 PM

Really hard to answer, but I heard horror stories too just like what the OP has describe. Well if he knows that his friend is into gambling, maybe he wouldn't trust him. So I guess for us we really need to be very careful about who put our businesses and money and rely them to manage it for us. Not just for gamblers, but for everyone because you really don't know, maybe if they see that the business is growing, they might be tempted to steal.

Yes, in this case, he never knew his friend would spend money in gambling, else he would have never given his funds to him.

Instead of handing over the capital to his friend, he should have investigated it first as his friend is involved in which business. I would consider this his fault as he trusted his friend blindly and gave him the money. Usually, sometimes we are too lazy that we just give our money to another person and wish we get good returns just by doing nothing.

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Quote from: karabiber on June 26, 2022, 04:42:57 PM

Nothing is passed on to an addicted and stupid gambler. No need for a second chance. As for financial positions, if you don't take these things seriously, you will go bankrupt. This is no child's play. You should think twice before doing business with people you love and trust. Just because you love him, you shouldn't have him follow up on the job. Business is one thing, friendship is another.

I think everyone deserves a second chance and we all have our way of determining if they're trustworthy with our money or not. Honestly, on me, I wouldn't give them my trust 100% and wholly if they're still addicted. But if seen that they've changed for a long time and they're trying their best to remove and have an abstained attachment to gambling, I think they deserve to have a second chance but as I've said, we all my choice, we all depend on whom we're going to trust.

lienfaye

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Quote from: Rruchi man on June 23, 2022, 05:51:57 PM

- Are gamblers eligible to hold financial positions?

It depends. There are gamblers who can control themselves and knows their limit. Yes if you're a kind of gambler who have discipline and you know when to stop and that includes not using the money that is not your own. But if we based it in your friend's story and similar cases then No.

Quote from: Rruchi man on June 23, 2022, 05:51:57 PM

- Do problem gamblers deserve a second chance to hold a financial position?

Addicted gamblers deserves a second chance if you see that he/she truly change. However, to not repeat the same mistakes again its better not to entrust a financial position to a gambler who has history of being addicted.

Ahli38

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Quote from: boltz on June 26, 2022, 12:21:26 PM

Personally , I never hided the fact that I use to gamble from time to time, makes it fun but never crossed the line or placed big bets so I can speak free when it comes to gamble but this is just my point of view and how I do gamble, but to trust a company savings to a gambler hahaha ...no way.

A company should have self respect and always investigate that person who is having access to cash or value assets and as far as I know , the big companies will backtrace your life before you get into a position like that.

Doing gambling while still not crossing the limit indicates that you are good at managing your own psychology. because most people who are not good at managing their psychology then they tend to gamble to the limit. because they always follow the instinct of greed that arises.

yeah I think so too. A company will definitely investigate the background of every prospective employee who applies for a job at his company. But a gambler usually they are also good at hiding his habit of being a gambler. hahahaha but if the company is a large company then usually they have a special person who can trace the history of the person to be hired. so they can choose the right person.

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Quote from: Rruchi man on June 23, 2022, 05:51:57 PM

True life Story.
A friend i know recently narrated to me how his business almost collapsed due to trust he had for another of his friends who he thought he was helping by recruiting him to manage one of his Retail outlets. He narrated how having put him in charge of that point started observing a decrease in the the profit from there intended for savings and reinvestment. He confronted him severally to know what the problem was, but his friend attributed it to being ill and needing drugs, until one faithful day when he ran into him in a betting shop during working hours betting on virtual football games, how disappointing!

Questions for discussion
- Are gamblers eligible to hold financial positions?
- Do problem gamblers deserve a second chance to hold a financial position?

Bitcoin has taught us simple lessons like ‘Not your keys, not your coins’ and this should be applied to fiat as well, we must never leave financial decisions to an external person, if we earned that money and the account holding it has your name or the name of your business then you must never let anyone else to have control of it regardless of how much you could trust that person, you can delegate a lot of things to your employees but money is not one of those things.

Viscore

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Quote from: Rruchi man on June 23, 2022, 05:51:57 PM

True life Story.
A friend i know recently narrated to me how his business almost collapsed due to trust he had for another of his friends who he thought he was helping by recruiting him to manage one of his Retail outlets. He narrated how having put him in charge of that point started observing a decrease in the the profit from there intended for savings and reinvestment. He confronted him severally to know what the problem was, but his friend attributed it to being ill and needing drugs, until one faithful day when he ran into him in a betting shop during working hours betting on virtual football games, how disappointing!

Questions for discussion
- Are gamblers eligible to hold financial positions?
- Do problem gamblers deserve a second chance to hold a financial position?

Based on your story, you can't really trust a person with a gambling addiction issues knowing he will just gamble the funds when all his own funds have gone from losing. Do not wait for your friend's business to fall into bankruptcy as gamblers will always be gamblers, they will always prioritize their gambling activities no matter what. And once they did it once, its always bound to happen again. As long as addiction is there, you will never find good profits from your business if you continue to trust him about holding that financial position.

hyudien

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Quote from: Rruchi man on June 23, 2022, 05:51:57 PM

Questions for discussion
- Are gamblers eligible to hold financial positions?
- Do problem gamblers deserve a second chance to hold a financial position?

Judging from the character of your friend's financial management, it is clear that he is not a person who can be trusted in managing finances. So the choice is to stop him first from holding that position before he shows improvement in himself so as not to do things that can harm the business.
In my opinion, if there is another option then it is better to take the second option instead of someone who is not familiar with gambling. because a greedy gambler can not be trusted to handle the finances of the company/business.

karabiber

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Nothing is passed on to an addicted and stupid gambler. No need for a second chance. As for financial positions, if you don't take these things seriously, you will go bankrupt. This is no child's play. You should think twice before doing business with people you love and trust. Just because you love him, you shouldn't have him follow up on the job. Business is one thing, friendship is another.

ChiBitCTy

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Quote from: Rruchi man on June 23, 2022, 05:51:57 PM

True life Story.
A friend i know recently narrated to me how his business almost collapsed due to trust he had for another of his friends who he thought he was helping by recruiting him to manage one of his Retail outlets. He narrated how having put him in charge of that point started observing a decrease in the the profit from there intended for savings and reinvestment. He confronted him severally to know what the problem was, but his friend attributed it to being ill and needing drugs, until one faithful day when he ran into him in a betting shop during working hours betting on virtual football games, how disappointing!

Questions for discussion
- Are gamblers eligible to hold financial positions?
- Do problem gamblers deserve a second chance to hold a financial position?

Well it certainly sounds like an unfortunate situation and kind of leads to the age old saying of how hiring your friends is a bad idea. As for your questions, I think this all completely depends on the individual person and writing off anyone who gambles as someone who can’t be trusted with finances at all I think is quite unfair. I gamble a little as well as am a financial advisor who helps people with their money. I would never steal from clients. So I believe it to be a case by case situation.

sovie

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Quote from: KTChampions on June 26, 2022, 02:49:36 PM

Quote from: boltz on June 26, 2022, 12:21:26 PM

Personally , I never hided the fact that I use to gamble from time to time, makes it fun but never crossed the line or placed big bets so I can speak free when it comes to gamble but this is just my point of view and how I do gamble, but to trust a company savings to a gambler hahaha ...no way.

A company should have self respect and always investigate that person who is having access to cash or value assets and as far as I know , the big companies will backtrace your life before you get into a position like that.

If the business processes in the company are properly debugged, then the employee simply does not have a chance to steal funds regularly and without consequences, therefore, in my opinion, in such cases it is possible to hire gamblers and drug addicts and other categories of employees who are rated as risky. The problem that is raised in the first post is trust between friends - if you trust a friend so much that you don't control him if he is your employee then be prepared for the fact that he will deceive you.

I would not trust anyone with bad finances.
If you want to test a person - see how he deals in the finances. If the person is not good in dealing with finances - this means he is not trustworthy.

KTChampions

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Quote from: boltz on June 26, 2022, 12:21:26 PM

Personally , I never hided the fact that I use to gamble from time to time, makes it fun but never crossed the line or placed big bets so I can speak free when it comes to gamble but this is just my point of view and how I do gamble, but to trust a company savings to a gambler hahaha ...no way.

A company should have self respect and always investigate that person who is having access to cash or value assets and as far as I know , the big companies will backtrace your life before you get into a position like that.

If the business processes in the company are properly debugged, then the employee simply does not have a chance to steal funds regularly and without consequences, therefore, in my opinion, in such cases it is possible to hire gamblers and drug addicts and other categories of employees who are rated as risky. The problem that is raised in the first post is trust between friends - if you trust a friend so much that you don't control him if he is your employee then be prepared for the fact that he will deceive you.

Boristhecat

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Quote from: Pierre 2 on June 24, 2022, 08:42:36 PM

I think most of the gamblers are aware of better financial positions in general: If you have money to bet on, you have a way to make/generate it. It is most likely not wage but any other income options.
Would I personally trust gambler with his/her debt to me? It's complicated. I personally don't trust anyone with money, although prejudice against gamblers is a bit exaggerated. I think good gamblers would be loyal to their debts. And they wouldn't use someone other's money without a profit/reason.

This is an interesting idea. I've always thought along those lines about alcoholics - they always find money to drink. But I would not say that this speaks of their solid position or the ability to make money. As for your principle of not trusting anyone with money, I don’t know how it applies to business - here you have to trust someone anyway, since you cannot do all the work yourself.

boltz

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Personally , I never hided the fact that I use to gamble from time to time, makes it fun but never crossed the line or placed big bets so I can speak free when it comes to gamble but this is just my point of view and how I do gamble, but to trust a company savings to a gambler hahaha ...no way.

A company should have self respect and always investigate that person who is having access to cash or value assets and as far as I know , the big companies will backtrace your life before you get into a position like that.

Saisher

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Managers should know best, they should be good at picking the right people for the right position no way can managers entrust a position that deals with finances I don't think managers will do that it will put the company at risk of collapsing, in fact, managers should offer help to his employers because his health and how he behaves will have a big impact on his performance in the company.

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Quote from: stadus on June 26, 2022, 08:38:26 AM

If I'm a gambler, I would not tell the company I'm working with that I'm gambling, and if I owned the company, I would not hire a gambler to hold a position that involves finances. It's not because I hate them to be working in that position, I'm just thinking of the risk getting tempted and I believe any company that finds out a person holding a finance job is a gambler will make sure will be transferred to another department.

Yes, a gambler will surely get tempted to spend on gambling. One out of ten will purely stay away from gambling after hard gambling addiction. Even I've come across several stories of employees ending up their lives after losing the money that belongs to the company. These days almost everyone are into gambling, but very few take it seriously.

molsewid

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Quote from: stadus on June 26, 2022, 08:38:26 AM

If I'm a gambler, I would not tell the company I'm working with that I'm gambling, and if I owned the company, I would not hire a gambler to hold a position that involves finances. It's not because I hate them to be working in that position, I'm just thinking of the risk getting tempted and I believe any company that finds out a person holding a finance job is a gambler will make sure will be transferred to another department.

It will all depends on the company you are working with, in my case my company strictly checking our background before accepting us, it is really hard for a person who have a bad credential to apply as a financial advisor, accountant or anything related to finances, he cannot practice integrity since he is not reliable when it comes to his finances, and his position doesn't reflect to him.

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Quote from: serjent05 on June 25, 2022, 07:05:26 PM

Quote from: Piesel on June 25, 2022, 05:24:33 PM

I think the friend who entrusted the gambling addict with a business manager made a big mistake, he should have at least check on his friend's excessive handling of the business finances.

Indeed he made a big mistake, he doesn't need to check the background. The tag gambling addict states it all. But being a gambler alone does not constitute that a person is already an addict. There are people despite being a gambler are more trustworthy than a religious leader in terms of fund handling.

I think the ratio is 1:100 thousand gamblers (who can be trusted to manage finances rather than religious leaders). but so far from the people I have met, there has never been a single gambler who can be trusted to manage finances.

stadus

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If I'm a gambler, I would not tell the company I'm working with that I'm gambling, and if I owned the company, I would not hire a gambler to hold a position that involves finances. It's not because I hate them to be working in that position, I'm just thinking of the risk getting tempted and I believe any company that finds out a person holding a finance job is a gambler will make sure will be transferred to another department.

Fortify

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Quote from: Rruchi man on June 23, 2022, 05:51:57 PM

True life Story.
A friend i know recently narrated to me how his business almost collapsed due to trust he had for another of his friends who he thought he was helping by recruiting him to manage one of his Retail outlets. He narrated how having put him in charge of that point started observing a decrease in the the profit from there intended for savings and reinvestment. He confronted him severally to know what the problem was, but his friend attributed it to being ill and needing drugs, until one faithful day when he ran into him in a betting shop during working hours betting on virtual football games, how disappointing!

Questions for discussion
- Are gamblers eligible to hold financial positions?
- Do problem gamblers deserve a second chance to hold a financial position?

It seems like you're asking two separate questions. Is this about someone working a job and potentially defrauding a company? Rather than trusting a friend on a personal level with your savings, which doesn't seem like a normal scenario that ever needs to happen. Why would you give a person your savings, when you know they have a problem with money handling? If they are a good gambler, playing with acquired skills, then they would never need outside funding from such a source and could build their own bankroll.

Topic: Can you trust a gambler with your money/savings? - page 3. (Read 1434 times)