Topic: Do not gamble with Loan Money~otherwise you will be in danger like me - page 28. (Read 5009 times)

Gambling as entertainment rather than a source of income can be exciting but perilous. Like a movie ticket, we pay for the experience, not the result. Making 10% of your income from gambling? What a commitment! Gambling should be a fun side dish, not our financial main entrée. Wouldn't we rather invest or save that money? Gamblers' zeal often blinds them to its harsh reality. Teaching a child to ride a bike doesn't start on a mountain trail. They must comprehend the fundamentals and risks. Gamblers must learn the odds, know when to stop, and most importantly, avoid mental, financial, and psychological harm. Shouldn't we promote responsible gambling and balanced risk-taking?

By taking a loan to gamble is a very stupid decision, they can't possibly turn things around that way, even if they do that way, where they will be even more difficult because they have more responsibility to pay off their debts as well as high interest as you said. Their daily lives will not be calm because they are chased by the debt and the debt will haunt them every step of the way. Not to mention the risk of debt collectors who will chase them if they cannot pay off their debts, also this will have an impact on their families, where there will be people who terrorize them because they have debts that they cannot pay off. It's best not to take out a loan if you don't want something bad to happen, because it could be that taking out a loan to gamble will bring bad luck to yourself and your family.

You are right, it is better to make an investment, although it also has risks but it is unlikely to be like gambling. So it is better to avoid borrowing money for gambling, because it is a stupid act if we do that maybe we have lost our minds.

Yes, this is true on which there are people who do make or give out some advises as if they arent ones who are committing on the same thing but actually these kind or type of questions doesnt really need to be having that critical thinking for you to be able to make some responses basing up on with their own common sense but eventually trying out to handle yourself into those hard conditions of someone is actually not that really
so easy to handle when you are on such situation. This is why we cant really make out those kind of conclusions yet but at least we are really that wary on what are the things that should really be done in case we are on such situation.

Haha thanks, and yes crash is an unpredictable game but I make like double in an hour for doing that game. but yes at the end Im really crash all of my balance.


I know right but the good thing for now is pay the debt or something bad gonna happen, I know it will be hard but the interest on loan money keeps adding.

I agree with what you said that gambling with borrowed money is a really stupid act, how could it not be thats gambling itself should not be used too excessively, let alone taking out loans just to chase losses or chase winning because that will cause risky for gamblers also have to bear quite high interested charges and the worst thing is that gambling will not give them a win even if the gambler uses the money from the loan so they will only get worse as the situation get worse.
Investing money in cryptocurrencies will created more certain profit in the future, which is different from using gambling which provides uncertain profits.

Some people are also hypocritical and are quick to give advise that likely wasn’t asked for or wanted. It’s very easy to give out advice but a little difficult to follow our own advice ourselves. And people are guilty of doing this. Also, like you noted, some people let the urge for their gambling habit get the better of them and they go borrowing to gamble in hopes of winning some more money.

That’s how loans work. An individual takes out a loan from wherever. Gambles with it and loses. He has lost out in his bets and now, he has a debt hanging over his head. The lender only cares about getting his money.

Of course that's a completely ridiculous approach to gambling, they think that next session they'll get lucky and break even so they're desperate enough to take out a loan just to gamble, it's completely out of my mind. After all, it's just gambling where the end result really can't be predicted and only depends on your luck at the time, so with that alone I think they should be able to consider that excessive behavior in gambling is really not recommended and should not be done.

Your advice is quite good but I think by putting 20% of our income for gambling is too big, for myself honestly the most I only dare to put 10% of the income I have for gambling, but it doesn't matter if they are able to account for everything and are able to accept whatever the results are the point is not to affect mentally, psychologically and costs for your life. Statistically it is usually the beginners who are most vulnerable, it is true because beginners will usually be ambitious when they see a chance of winning, so you and they must be more careful and change that mindset.

I understand that these people don't know what their actions are all about, until they've landed into a bigger trouble. He was experiencing a fake love for his newly funded blackjack game. Despite losing, he felt taking loans would be a better form of extending his fun time. The goal was not actually getting his funds back, but to keep on being excited. Some utilities, aside gambling can cause these things, unless we take a break or run out of funds, the brain won't relax to this level of realizing we've been down 2 years back. He was a newbie, when he joined gambling, self control wasn't there, and a good adviser to stop him, even the lender should have stopped him. Although in such a condition, no word of mouth is able to change the person's mind or action. People who lend gamblers money, can have a rethink or do further research before giving out the money. Well, I don't know the current source of income for OP, but he'll need to find a better paying job, to fasten the pay back time. Predicting it'll take him 2 years to clear his debts, can cause him a breakdown, as he won't find actual fun, till he clears it all. The sooner he pays back his debt, the better for his mental health. Then, he shouldn't hide things from his closed ones, opening up is a great way of solving his problems.

One thing is to give warning to people against taking loan to gamble and another is left for them to accept the warning or not. Imposing a ban doesn't make them not scramble for other means to attain loans to use for gambling. Many gamblers do this alot and it baffles me what gives then the guarantee that they are going to win and recover their losses to be able to repay the loan money when they couldn't get a win when they were using their own very money that was taken as a loan. It's stupid and silly yet people do it and am lost in the ideology behind that action for people who this.

It is obnoxious for anyone to borrow money just to gamble because, in my wisdom, it is as good as using all your income to gamble. I always advise people to use only 20% of their income to gamble and that's if they cannot stop. Gambling has wrecked more lives than it has brought people out of the trenches. The writer's story should serve as an eye-opener to other gamblers, especially people new to it because statistically, they are the most vulnerable.

There is someone out there in the world or even reading this thread that is telling himself that his story will be different that the money he borrowed, he can double it from his gambling activities because he sees it as an investment and not gambling.

OP sorry about this but sadly in next month someone else will share the same experience because we learn better from our own ordeal than from the ordeal of others.

There is already enough resources on this forum to help them act right and fix their gambling habits.

If you feel like people who do this kind of thing are just few and they are stupid, think again. This is so prevalent in the gambling industry that certain countries like Australia even had to impose a ban on using credit cards in gambling sites and sportsbets to make sure that no one's digging their own graves trying to gamble their whole life away. So yeah, real PSA for everyone out there, don't gamble if you can't afford shit. Gambling wouldn't give you anything but entertainment, the money is never a guarantee and by the moment you login your acccount/step inside the casino, you should already set your mind to the fact that you're not gonna win anything and you'd probably end up empty-handed after the ordeal, but don't let it get to you and just gamble for the sake of enjoyment.

Lesson have a o be learned and also,  skills needs fo be build,  this way,  the gamblers will operate in a stable position that will limits his possibility of making further loses in the future and the most things I have learn from gambling loses is that,  it teaches us some great lessons,  such as.

1: ability to manage the risk of the game in the future

2: the push to acquire more skills to beat the game on the next session,  this are the most looked at thing that we have done at most times and it have helped us all if you take the lessons seriously.

I am not judging, we all have done stupid things and if you have learned from it you have gained a lesson that's hard to forget. And you needed that.
Consider it as a crash course lesson that costed $2180. People pay more for ineffective rehab. Now it's up to you if you want to pay for more lessons or if you remember it.

I have a rule that i take only loan money if they are for imminent bills. Bills that i have messed up for a good reason, and i am making sure that ideally i won't make those kind of bills anymore. Even though loan might just be one of the bad reasons that lead me to circle of debt that only gets deeper as interest rate digs the hole deeper.

So hopefully you have a decent plan to pay it back and it doesn't involve gambling it. As obviously you might win, but losing it again would absolutely destroy your finances.

The gambler who was in the big loss in the gambling should develop his skills in the game which he use to play in the gambling sites.The gambler who had time to learn the game should spend their time to analysis the game and increase their skill to that game.It May take of 6-12 months to reach the complete skills in the gambling site.But the gamblers should not consider it as the waste of time.It’s like investing of time for the future profit,Gambler should not begin gambling with the loan money.The gamblers also spend 6-12 months to get ready of their initial capital for the gambling sites.This prevent you from more burden in future.

We do know that loan terms could neither be playing around 6-12 months or even more and those amounts could really be that easily be blown up in an instant on the time that you do play gambling.
For those people who do make out decisions on taking up a loan and just simply playing those amount of money in gambling. Do they really ever think on what are the things that they would really be needing to pay up which it could be a long time? Dont know on where they do put up that rational thinking on trying out to balance in between risks and reward.
Dont know on where they do put up their brains on trying out to escalate whether its worth or not. Gambling with loan money is never been wise in the first place.

Usually healthy people will only look for alternatives such as borrowing money when it is an emergency in the sense that it must be available at that  time and people in general will apply for loans to several services to at least help them from intolerable emergencies. The other thing is that if you're taking out a loan just to gamble I think it's absolutely  ridiculous, you know you're in a bad situation in terms of running out of money but on the other hand you're taking out a loan to allocate to something that basically has no certainty whatsoever.

Two years is a long time, and of course as you said this is really a very valuable lesson from a bitter experience, I hope we can also take lessons from the events experienced by others so that we do not fall into the same  hole or do not share the same fate as that person. I'm not sure if this is a good  idea or not, but I'm sure it's a good idea and I'm not sure if it's a good idea or not, but I'm not sure if it's a good idea or not..

He acted moved by emotion and ignored the rationality to evaluate the potential negative consequences of his decision. He was probably totally focused in recovering what he had already lost previously and the idea of borrowing money seemed the easiest and most immediate one to fulfill that goal.

It's not an uncommon phenomenon in gambling community. Many gamblers have already found themselves on this situation chasing losses and accumulating more losses yet on the process. I believe what we have to understand is that it's not easy for gamblers to think logically and wisely when they are under high pressure and adrenaline, so they go through the wrong route.

That is why it's so important to have a supportive network of familiars and friends who will discourage and prevent the person from acting during this unstable state of mind.

But the analysis of his wrongdoing is so exact that I wonder why he risked a period of two years necessary to recover in case it goes wrong. If you are able beforehand to calculate the cost of your action like that, I mean it also takes a lot to go for it if you know that it takes two years until you can finally breath normally again in terms of financials. On the one hand, it is a sad story because I wish nobody to have bad times ahead of them, but on the other hand it is a little bit shocking to see that he went for it regardless of the consequences.

I empathize with what you're going through. Two years is indeed a long time, and it's like being shackled by severe financial constraints. This can be a valuable lesson for all of us, emphasizing the real dangers of addiction. Even borrowed money should be used wisely to ensure smooth bill payments.

I sincerely hope you find a job with a good income soon to expedite the repayment of your debts. Also, I hope you won't repeat this mistake in the future. If I were in your position, I might feel deeply affected by such circumstances.