Topic: Do not gamble with Loan Money~otherwise you will be in danger like me - page 24. (Read 4955 times)

Yes. It's a dirty loophole where a gambler can destroy his own life and his family too. Gambling addiction is too bad and can cause serious trouble. Op's case is an example of how gambling addiction and taking a loan can cause harm. He has to work for at least a year to pay the debt. But it's nice to see that he realized that it's not too late to stop. He did not take further loans to cover the previous one. I would suggest he not take another loan to cover this one. If he does, he will be trapped in a loophole. This is not the first time we heard such a story. Often people do these things and get into serious trouble.

I am guilty of this several years ago even if it’s just a small amount of money. Sometime in 2016 while at a computer shop, I’m out of money already so I asked my friend to lend me some.

He did gave me some small amounts only, but spending it in a wrong way by means of gambling. Unfortunately, I have lost almost all of it but good thing I have paid it back a week after. But it was one of those lessons that I have ever learned of not to borrow or loan money just for the purpose of gambling.

Right now I am just gambling with my extra money that I can afford to lose and I do not spend way beyond my limits.

Not only that but emotions are also involved and these two things, emotions and greed are usually what always give results that turn out to be much worse than what was imagined, yes that's right I think almost most gamblers will experience phases where emotions and greed control themselves which makes them almost completely unable to think using logic. Haha yes it is true that you admit your own mistakes and not only you sometimes I still do it unconsciously, but I think it doesn't matter if we give advice to others even though sometimes we also make the same mistakes.

I think it's still reasonable because humans are fallible and it's also very difficult to be able to control the emotions that are in us. Rice has become porridge and yes that means maybe we are a little late because time cannot be turned back, but I think it doesn't matter because this is an experience, and the question is whether we can make this bitter experience a lesson or not, if we can then obviously we will be able to become a better person again, especially in gambling involvement which will not be too excessive, regret will always be at the end hopefully we or they can fix everything.

Yes, I've seen that happen around me, and I've even advised them not to borrow money from anyone, but they don't listen to my advice and keep borrowing money from friends they know. And I also don't force my suggestions on them because it is the responsibility of each person who wants to continue gambling. And I can already guess the final result where they can only win a little money, but by going back to gambling, they again experience loss, which wastes all their money with nothing left. I couldn't lend them money to be able to go back to gambling again, and they also finally realized that what they did was wrong, but everything had happened and couldn't be turned back. They had to return all the money they borrowed, and fortunately, they brought their ATM cards, so they immediately took the money and handed it over to the person who gave them the loan.

Greed is part of gambling. I don't think anyone could just control that. I mean, that's why people get loans, they want higher profits so they will bet as high as possible so that once they hit a jackpot prize it's all over. But, there will be those who will keep on trying even though they already won their bets not knowing what comes next is the system trying to win back what we took from them.
I mean it when I say it because I've been there a lot of times. There was even a moment that I made it to 10x my capital and yet I was still not satisfied with it. Greed.  
I think that's also why I keep on telling friends to never ever borrow money when they gamble. They will just dig their own grave because at one point they will lose and will never find any means to pay back what they borrowed.

If you have already your loan money then you need to think carefully about what you're going to do with that money, You can use it for something more meaningful or you can spend it all on gambling, or you can used both. its your choice, but since you have said that you want to take a risk by using it in gambling, so you need to be more open on the consequences that may happen. From the very beginning, It is not advisable to use loan money in gambling because it can cause you a trouble and big debt because of the interest. What if you don't have a stable job? How will you pay all the money you borrowed for gambling? think carefully.

Yes, and I also think that as gamblers, we wanted to take that risk with the money that we loan. I have done  this several times though, not that huge amount maybe just around $100, borrow from someone with interest and then I will just go play it online or even in traditional based casino.

And as the risk goes, sometimes I will win, but majority I will just ended up losing everything and when I thought I have the money already to repay and then win some. But sometimes greed takes over, so instead of the money that I should have won that night, I ended up with nothing.

Greed will cover everything and control everything, and if greed has controlled then bad things cannot be avoided, whether they want to or not they have to accept it. and with the greed they follow makes them lose their money and when they lose their money, they can take out a loan to be able to return to gambling, but this will be very risky of course for themselves. they will get into debt and they may not pay it because all they have is the principle of gambling to get a big win, and how they can keep gambling.

I myself gamble only on weekends, because I already know what the end will be like, so I don't really expect to win, I'm not hypocritical, I want to win, but I don't gamble by desperately pursuing victory to the point of daring to borrow money just to gamble it is not a solution to the defeat that is obtained, if they want victory then they must stop hoping for gambling, throw away the thought that gambling can provide victory easily and can make someone's life change for the better because of the victory in gambling. This kind of thinking is the disease, where they will continue to gamble by expecting a big win or jackpot that they will get. even though they only spend a lot of money by playing games that can make them upset themselves with the loss of money they have. So do not let us gamble using borrowed money, it is not recommended.

It's strange how, despite our logical understanding of risks, we emotionally go right into them. Consider your first point: using a steady income to make debts from gaming acceptable. We see this as an overconfidence in one's financial sense. It sounds like, "I'm unstoppable because I have a stable job." But do they really? In actuality, demands in life and income levels change. Although you may be aware of the rules, are you really able to forecast the changes?

"I'll win it all back!" Traditional human arrogance, yes? Can we see this as a frantic attempt to maintain control in an unpredictable world? They are placing bets not only on cards or dice, but also on life to give them some relief. Though everyone is aware that the house always win, hope is a powerful remedy. The excitement of "what if" is what prevents people from seeing the harsh reality of "what usually is." Gamblers chase dreams, but more often than not, they're just running on a treadmill, making progress but remaining stagnant

Sometimes we become blind for a moment when faced with our biggest enemy, namely greed when gambling, the average gambler has experienced this, and I have too. We become like hypocrites because on the one hand we give advice not to take gambling seriously, but we gamble without thinking about the impact in the future. But what can we do, the rice has become porridge, we cannot turn back time and we can only deal with the problem as best we can. I hope the best for you.

It's really unfortunate to hear this from you. The feeling of loss is incredibly tough, especially when it affects your life and family. I've had a somewhat similar experience in the past, though not as severe as yours since I didn't have a family back then, and the losses I incurred could be recovered in a few months of work.

I'm sure your current state of mind is filled with regret, and I hope this won't happen again. However, I know that a few months down the line, when things stabilize, there might be a different mindset, and there's a chance you might be drawn to gambling again. So, I hope you have a long-term plan for repaying debts and avoiding a repeat of this mistake.

Actually, everyone knows that borrowing money from the bank just to gamble is the wrong decision and could have bad consequences in the future, but they forget all the risks involved and do whatever they think is right.
But actually there are two main factors that make them dare to borrow money just to gamble.
- The first is the idea that they have job or business that can make money so they think that even if they borrow they can still pay the bills and will not experience difficulties in the future.
- Second, they think they can win and their goals will be realized so that when they win they can immediately return the loan money, but they forget that gambling is full of uncertainty and defeat is always on their side.
These two things make gamblers brave enough to borrow money without considering everything, including the pressure they might feel, but only when they feel the difficulties can they realize all that.

It like when you take out loan and feel various pressures, but after it all over and you feel it, the awareness arises not to do it again.
Experiences and consequences must be truly experienced by gamblers so that they can think and act well.

One of the worst mistakes you will make is taking a loan and gambling. Most of the people who do that are addicted to gambling. People who gamble just for fun will gamble freely, and I am sure they won't be taking a loan just because they want to gamble. If you can take a loan to gamble, the chances of losing money are kind of high because there will be pressure on the gambler, and there are some silly mistakes that the gambler will be making that will lead to losing money. So I notice that addicted gamblers are always losing more because, even when gambling and losing, they will never give up, they will want to keep on gambling till everything is gone.

Some people go as far as gambling with loaned money and that doesn't sound right at all... I'm just wondering the pressure I passed through when I borrowed some cash from the bank way back 2017 - I didn't default the loan but I was pressured to the point that I never thought of missing the loan(it wasn't any pressure from the bank..I thought I shouldn't dare to default)...so I'm wondering why someone would borrow money and the next option I'm Thier minds would be spending it on nuisance..

Sandra 🧑‍🦰

We can gamble if we want to as long as the money that will be gambled is ours and not from anyone or someone else or from loan.

That's where those gamblers get it wrong when they think of loaning to gamble because that's already a mistake in the first place. Instead of them making some decisions not to gamble with a money that should be for other things.

They're adding some burden to themselves by borrowing and using it for gambling. The fun might be there but it is no fun when you lose and there is the interest that you're obliged to pay.

Yep. If there is no safe money for gambling anymore, the best way is to stop temporarily. Why we must try to continue gambling if we use unsafe money, right? Gambling isn't a safe place to risk money, no guarantee to win the prizes. Even we tend to lose money because the chance to win is quite small, specifically for the luck-based games.

Sure, no reason for gambling if we risk ourselves, it won't be fun anymore. I think we only can gamble as long as it bring an entertainment for us. Although people must expect money from gambling, fun should be an important part in gambling. If gambling never bring the entertainment and we never feel fun during playing gambling, so why we keep gambling? It is true that we shouldn't lead ourselves into a complicated situation in gambling.

Get it right, you were always losing slowly. With a bit amount it can take a long time to burn through if that's how you play, but you were never a successful gambler. A successful gambler is one who knows the odds of the game they are playing as it develops, or that they are only playing for fun expecting to lose it all. Sometimes it can take many attempts for people to realize how devastating the addiction has become for them, often requiring you to hit rock bottom before you will abandon it forever. It's a path that people who quit smoking often have to take, many people may attempt to quit throughout their lives but at some point finally break the habit and it takes a total rethink of your life.

Basically you shouldn't loan money to carry out any venture where there is no return on investment. Gambling is one of such example.

And the OP has been kind enough to share his experience with us. Another way that gamblers loan money to gamble is through selling off an item they have just to gamble thinking that they would win and be able to buy back the item they sold off for it. These items could be their TV set, cars, wristwatches, or any other priced possession.

You will end up being in a bad place and depressed and your mental health will suffer the consequences of your action.

I wonder where the red line starts or started when someone loses $1700 and then borrows $2180 to get it all back. Is an addiction only confirmed by the action of borrowing or maybe that addiction has long existed but never "broke out" if you know what I mean? I think it could be either someone who has no experience and believes it is likely to get back onto the lucky side of things if he plays long enough or it is someone who has the predisposition to decide to make stupid moves driven by an addiction that is already there, but hasn't yet entailed any heavy consequences.

So you mean you actually lost $1700 of your savings while gambling, and then you went about taking a loan of $2180, and still lost it all again. What the hell were you thinking? Because this is just how gambling addiction starts, and you just successfully subscribed yourself into facing the first consequence of your greed in trying to create wealth on a borrowed money, which was indeed the wrongest decision you made taking a loan from bank to gamble, which is bad, as you now have a whole full 2 years to pay for the mistake you just made. Hence, taking a loan to gamble is one thing I will always discourage people to do.