Topic: Do not gamble with Loan Money~otherwise you will be in danger like me - page 31. (Read 4608 times)

Well, when I think of borrowing money just to gamble, it's like suidal to ourselves. I know what that means. Are we stabbing ourselves? This style can be called bad debt. It's not a good move when a gambler does it, even if we say we can afford to pay the debt.

As long as you can, don't plan to do it. It's not bad to take a loan, but use it wisely, not for gambling. That's all I can say honestly: don't even try to do it.

It is true that I have seen lately that more victims very quickly are the new beginners who have just come, unconsciously they are carried away by the sensation of gambling, with this alone I am enough to conclude that most beginners come with reckless goals, or that means they come with the intention of looking for something that is very difficult to achieve or even quite impossible especially if they want good results consistently.

They come because of the curiosity of winning that they always see that other people are able to get, beginners never ask the people who motivate them through several wins about how much money has been sacrificed just to get one / several wins in tens / hundreds of tries. Chasing losses is an indication that they are not responsible gamblers because they are not prepared for disappointing situations, such a cycle will never end until they are traumatized by bitter events due to their excessive actions, and besides, running out of money is not the end of the world, because they will look for other alternatives that can be utilized such as borrowing money from friends, relatives or even the nearest bank agent. That's where a lot of new problems will arise, getting into debt, depression/stress and ending up crazy, do you want the same fate?

I was sure that they were aware of this but they let this thing happen to them because of their gambling addiction. Because they thought that gambling was a good place to multiply their money but they have been fooled with such thinking and in the end, they all suffer the consequences of their loan/debts. There are a lot of people who have been in that situation, they take loans everywhere and all of them are defaulted. And now, they become empty and poor.

Well, they only realize their wrongdoing when the situation happens to them already.

Some people doesnt really care on whatever things that would happen into them and they would really be just that simply be trying out to do things on what they do have in mind and getting in line with their own interest until they would really be able to realize that they have already experiencing some financial problems. Taking a loan just to gamble is really just that not wise thing to do or something a very risky thing to be done by someone because gambling those loan amounts could really cause that huge damage into your finances on the time that you would be losing all of those funds and keeps on paying those loans
which it would be causing a huge overdrop into your budget.

People do really tend to changed up on the time that they are experiencing shit situations on which they could eventually be able to avoid it earlier if they had just been that mindful on that things that they are dealing with. Gambling isnt bad as long you do make yourself that responsible because if you dont then expect for these things to happen. This is why you should really be that careful on every
decisions you are making specially if it do involves money and budgeting.

You will be thought a huge lesson of your life if you take loan to gamble, it's a very bad thing to do, not just in gambling but in everything, loan is bad for majority of people but they don't know it, I have studied myself that taking loan always end badly for me, if you are taking loan to gamble then you really can't afford been a responsible gambler.

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Loan is more suited for people who have sources of income or properties that they can sell to back back the loan if things don't work out well for them, that's why I agree that taking loan is not for those who are broke or those who are jobless, taking loan is best for the rich.

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If you don't have a job, do not go near a casino, the solution isn't you trying your luck out in gambling, the solution is your income stream, find something that will bring you money and get your shit together first, have some savings in the bank and take few percentage of the money you are making for gambling, it's going to be a flawless experience.  

Yes, whatever you see around you, something bad, never follow it because of course only stupid people are willing to take big risks just for a moment's pleasure. The point is, never blame other people who have acted like that because of course they are unconsciously making big mistakes. as shown by the OP, he admitted his mistake, that's why he shared his story to be an example for others.

The other person in question is a beginner because beginners are usually careless and get carried away by uncontrollable emotional currents when gambling so that in order to satisfy the desire to take revenge for defeats and also want to recover losses, they are finally determined to take out loans from banks or loan sharks in order to return everything. loss but in fact it doesn't work, that method is very dangerous and wrong to do, a good suggestion is to gamble wisely using unused money is the right way.

We come across a lot of cases like OP, but it seems like there are still a lot of people in this situation, and they will have to face the consequences. Gambling with capital that people are not willing to lose will always have sad consequences. Capital management is always important in this field. Things that attract us in terms of money-making opportunities easily make us forget the risks and accept that once we start, unchecked greed will only bring failure.

I have also seen family members borrow money to gamble, and when they default, the family's common assets will be assigned to the debt. So I feel lucky to be able to see the negative side of this field, and I also hope that people will understand their responsibility for those decisions.

Gambling is a very risky business also so is taking a loan, you didn't know if you'll win or lose when you're gambling but the house win most time therefore using loan to gamble is a very wrong move. When you lose you'll be owing the lender and you don't have where to get the money to repay so you're in debt which will make you to try again and this might continue until you're in a very big debt. If this continue then you get depression and might take your life.

There are many report of gamblers commiting suicide and they have something to do with losing people money that they would have gotten from loans or gathering others money in hopes of using them to gamble believing they can double the money and get profits. Gambling should be done by using spare money so if you lose you won't lose a large amount of money and you won't start panicking.

In my opinion, what he did was wrong, especially if by borrowing money to gamble it was not wrong anymore but stupid, if they still hope in gambling it doesn't matter, but if they take the action of borrowing money to do gambling, in my opinion they don't have a brain, maybe they still have a brain but it's not working properly hahaha.

After all, the personal money that has clearly been used up for gambling in my opinion is enough to realize that gambling is not a place to make money, but their brains that are not working properly will not think about that, they will continue to do everything possible to be able to gamble, even if it is borrowing from other people or banks.

what the OP can do is find additional jobs aside from his actual job, to slowly pay for his bank debt. if he will think that more gambling will save him, i highly believe he will put his financial situation to rather nasty.

I highly agree, even in businesses and investment, it is much better if we use our own money in putting business or investment because it saves us from the pressure of paying back plus the interest.

True, the worst is that our future salary is already tied to the payment of that loan used in gambling and many know that it is very tiring when you are working and unable to enjoy the fruit of our labor due to unpaid commitments due to debt.  It is more stressful and may negatively affect ou health in the long run. 

It is not only the money but also the health that is affected if we loan an amount to gamble and happened to lose them all.

    Gambling is not like owning a business, banks arent going to loan you money to gamble. Gamblers are a risky investment. Gambling over the long run seldom results in a profit anyway. Ive tried my share of gambling off and on for the last few years and my losses are greater than my wins overall. I wouldnt rely on it for stable income. Ive quit and restarted several times in the last year or so. It’s the same outcome every time. Every time I start again I end up losing more than I win. Ive never lost enough money to affect my lifestyle but by the same token, Ive never won enough to change it for the better either.
    I think gambling is a matter of risking money and therefore it's not a guarantee that one is going to win so it's not worthy to take loans for gambling.  Anyone who gambles on any type of regular basis should come to the realization that they potentially some day might develop a compulsive gambling habit. The time to take action is prior to hitting bottom. Just don’t allow that to possibly happen. While your finances are still intact, make parameters for your gambling activity and follow those parameters like you obey street laws while driving.

Actually it would work the other way around if the loan was in million dollars and the casino was just small time one lol. In some third world countries that's really a huge deal and probably OP is from a developing country afaik. I don't think investing using loan was a bad decision actually that's what most rich do to their loaned money, gambling was way worse.

You have to really stay away from that and don't borrow money from other people. We don't know whether we can win or lose, so if we lose, it will only cause problems for us. We will not be able to return the money because it has been used for gambling, while there may be a time limit that we must meet so that we can return the borrowed money. If the person who lent us the money doesn't want to accept our loss, it means we are really in trouble and have to let it go if they want our valuables taken. We also can't do anything about it because we have borrowed the money and have to return it to the owner. This really is a valuable lesson for anyone, never borrow money to gamble.

If he was able to beat the casino using loan, we will see a completely opposite thread than this one because he's successful and he think taking a loan to gamble works.

I wonder if $2K is a big money for the @OP, but of course this will be a good lesson for him to learn never gamble using loan money. If investing using loan is already a bad decision, gambling using loan is actually a worst decision.

At least you admit it that you've got the wrong action and I think that's more than enough to learn your lesson. Hope this is an eye opener to everyone out there that has a likelihood to be in the same situation as the OP. The only winner here was the casino and the bank but that's the risk of taking risks, you'll end up either to retire early or worst pays the price of losing.

Op will unfortunately suffer some set back for his action just like he remorsefully admitted.

Sometimes it can be tempting to empty your account because you feel that the outcome of a bet would favour you or when some friends call you up to go stake some game giving you hope it is a game you don't have to refuse to bet. So it is understandable when that urge loom but we don't have to act on it with all we have or go borrowing. We should always see gambling as a lucky game that can come to our favour or go against us, so we should be pragmatic with betting and not bet what we are going to regret.

This actually happened to some gamblers in my place too, they used loan money for gambling purposes and ends up badly. What happened to you OP and others who failed using the loan money on gambling will take this as a reminder and lesson to never use a loan money on something that has no guarantee of ROI.

You definitely learnt your lesson the hard way but truth be told many gamblers would still continue even after such feat has been experienced, I mean it's as if these gamblers are just fucking crazy and actually don't know when they will stop because the whole addiction clouds their judgement. I know of a very rich friend, well obviously he got his riches when he luckily won some huge stack of cash but now his story has change in my local area some people now say that the money he won actually brought about the gambling cause in his life because from that moment he started gambling like a freak with no control and he always had this perception about the money he won in gamble , that it was free money and should be spent without reason which is fucking crazy if you ask me.

Gambling has an odds, so it will make you lose in the long run. Sometime you might win, but it won't last longer, however it also doesn't mean the casino is set up to make the gamblers to lose, they're not controlling the result because their games have provably fair system.

Even sports looks has a chance to make money, but it doesn't simple as that.