Topic: Do not gamble with Loan Money~otherwise you will be in danger like me - page 33. (Read 4608 times)

If your economy is experiencing difficulties, then going to the casino is not the best way to be able to restore your economy. and if you are a gambler, and in fact you are experiencing economic problems because your finances are unstable, then it is a sign that you should immediately leave the gambling table and stop the activity. And if you choose to continue the activity by taking a loan in order to continue the activity, then it is a foolishness that is in you.

Because if you want to succeed economically and financially, then the first thing you have to do is to improve your mindset. Because what you do depends on what you think. If you think that gambling can provide huge profits and can change your financial condition instantly, then the thing you will do is find money at all costs including by going into debt, then stupidly after you get the money, you try to multiply it in a gamble. which is something that is impossible for us to get (big profits in gambling).

I would go one step further and say that savings should also not be touched if they are meant to serve for other purposes. Loan money is probably the worst someone can use to gamble, but the most important recommendation is most likely that people should use a budget that does very minimal harm to any other important budget. OP posted about issues with serving the family, that is really tough. That decision should be made before the money is lost. Do I want the vacation with the kids? Or do I try to double the money and have two vacations? The negative effect of having none outweighs the positive effect of having two by far. Good intentions don't negate negative consequences.

Basically and it is something that means that there's no money left into their pocket or into their banks on which they have decided on making out some options that they would be taking up some loan
for them to play even further on which we know that this is something which it isnt really recommended. Also, no one would really be easily granting you some loan if ever you dont have the capability
on repaying on time. If we do speak about into those lendors like those people around then it would be just that normal that they do have those qualifications. How much more into those
banks which would really be asking out those relevant requirements.So it might really that sound that it is really that easy to take up some loan but its actually not.

If ever someone is really that able to get those loans then spending it on gambling will really be just suicide.There's no way that you could really be able to make those loans
to be repaid back on due time because you would really be needing to cope up on what you had lost and since these loans have interest then it would really be a burden.
If you dont like on suffering when it comes to financial then it would be always best and better that you should really be that avoiding it on the first place.
Gambling is for fun and getting loan and play with it is really just suicide.

Aside from the principal money, you’ll also pay a big interest to the bank.
This is costly way to learn a lesson and you can’t do anything about it anymore aside from accepting it and doing your best not to do the same mistake again. It’s good that you still see the positive side of this one and be more optimistic in recovering, this is not a new scenario in gambling and I’m sure many are also suffering because of same reason. If you are irresponsible then you will ended up like this, a lesson that you will cary forever and I’d hope that you will not do the same mistake again OP.

When being greedy and the reason to make more money or recover all gambling losses enters into the gambler's mind, there's a possibility that the gambler will use loan money to gamble that day if he doesn't control his urge to bet to recover losses.

That's what I think was the situation of OP at that time he was on bets. I think he might be thinking that he can get all his losses from gambling since he has spent the money he already had on gambling, using borrowed might bring luck to him to recover his losses and be at profits.

I have seen this happening to people all because they try hard not to go home empty-handed from a betting shop when they have bet more than they can afford to lose. When such a mentality comes to mind of a gambler, he will think of using borrowed money as an alternative, for him to gamble more to win. Maybe luck would shine on him to win and balance his losses, without remembering that it is too bad to gamble with loan money in the first place.

This is my biggest reason why I don’t borrow just to gamble because a lot can happen and the negative side of it are more prone to happen than to actually see you winning. This is not the first story about borrowing money just to gamble and I do hope that we already learn from the experience of others and we should take this seriously and think again if you are still planning to borrow. Gambling is very risky, always remind yourself to be more responsible.

Stories like this will always give a reminder to the people that are thinking of doing the same. Sorry for you OP but I admire that you're strong to share this.

Because with usual stories that we hear is that we don't want other people to hear what we've been struggling and mostly, that we're gamblers because there's always the bad belief about us gamblers from people that don't gamble.

There's a saying that when your not the one facing the temptation, it seems easy to overcome and you give advise easily, OP has been a party to giving valuable advises to people on the dangers of gambling with fund that are not yours, but when the addiction syndrome came to his side, he couldn't resist the temptation and he fell so cheaply to it that he even went ahead to borrow from the bank to recover his loses. This shows that no one is above temptation. He really demonstrated serious lack of emotional control here for someone of his status, his loses made him very desperate and he forgot he's not in his lucky day. But like I said earlier, no one is above temptation and he's left to heal from his wounds.

He's shared his story here for us all to learn from and say no to lack of emotional control. You shouldn't borrow money to transact a business that you don't know its actual ROI, gambling promises you nothing and that's why its advised that you gamble with an amount you can afford to loose. Its not a business, career, not is it an investment opportunity. My greatest annoyance is that there are people who will still read this story, contribute to it, and come back tomorrow to tell us how they gambled without emotional control. Its as though we've chosen the hard way as the only way to learn. We've to learn from the experience of others cos this very act of irresponsibility should be greatly avoided at all costs.

You shouldn't have listened to those crazy voices in your head, telling you to give it a shot, but I'm glad you've learnt your lessons and you're sharing your sad experience so that others could learn from it. Gambling with what you can afford to lose means that you've it and if you lose it, it won't affect you in any way but in your case, you didn't have it and you went to obtain a loan somewhere just to gamble. This is really bad and should be avoided at all cost.

When someone is taking a loan to gamble, what does it mean? It only shows that he does not have the money to gamble himself and he is borrowing the money. This also means that the gambler gambling with the loan money in 100% sure that he will win in gambling because if he loses, then how he will pay back the loan (when he has nothing with him) ?

The only way for the gambler is to look for both sides of the picture and focus more on the dark side. He should ask himself how will he return the loan if he loses in gambling. Once the person honestly thinks about this, he will refrain from taking this undue risk that can ruin his life.

Absolutely correct, many people just put them selfs into danger by collecting a loan that they don't want to make use of.
However, the aspect of taking a loan is not to gamble, you can collect a loan to settle urgent bills and other things that are important but I don't think that it is a good idea to collect a loan just to gamble, if a gambler sees betting as fun then such gambler isn't supposed to collect loan just for the sake of gamble and catch fun.
I think the Op should just learn how to control his gamble habits and focus on how to pay back the loan but he should not put in mind that he will win to pay back the loan because that's what caused him to borrow the money at first, when he was trying so hard to recover his loses.

 
I hope he doesn't do it again, he has a family to support. If you don't have a budget for gambling, you should keep quiet. A loan is not an option to gamble. lucky for him, it's only 2 months, how can it be that if he got it for many months, he will be drowning in that debt.

If you don't have a budget for your gambling habit, keep quiet and don't force it. Learn to control yourself. If you can't stop it, think about your family, do they deserve what you do.

I am very sorry for you. What have came over you that led you to take out a bank loan. You did not use the money on something good, so you used it for gambling, which is a very bad idea. It is always stated in this forum that we shouldn't gamble with money we borrow from anywhere. Now that you have taken out a bank loan, the bank cannot extend the repayment period if you refuse to pay it back. Your greediness has brought you into trouble, you should have stopped gambling as soon as you started winning. We cannot recover the money we lost in gambling, It's difficult, gambling will only pay you for half of your losses when you still have the lucky to win.

Before taking out a bank loan, you should to have looked for advice from someone. The bank is not your friend, and if you borrow money from them, they will not take it easy with you to the point where you might even lose your properties. It would be better for you to work hard and make the payment before the time because two years is not easy for you to get back your life normal. The worst thing is that you used the loan to gambling.

I feel sorry for your story. Ordinary taking loans, which we don't intend to do anything meaningful with, is not advisable, especially for it to be used for smoking, using loans to pay back loans, or even to be used for gambling. It's highly irresponsible for someone to do that, but as you already have realized yourselves that you are getting addicted to gambling, I think that is a good sign that you can get your self out of it. 
 
What you just need to do now is to make sure you don't break your decision of not spending much or even taking any more loan in other to gamble again as a result of looking for fast means to repay the loan. It's just a matter of time and dedication: You will be able to repay back all those loans. Your financial status might change over time and you can start earning higher than you are now, which will create a great chance for you to repay back in time earlier than you estimate.

The loan of 2180 dollar was made by your temptation of getting huge win using the gambling sites.After getting of loan,you getting emotionally weak.So due to temptation,you may made many random bet.This are the reason for the loss of the entire dollars,in a mid of bet you may get some profit in some points.But by seeing your profit,you think that you are more brilliant and made many blunders in the game.The cause of this loss was allow of his emotions to the game,many gamblers will do this mistake.After making some profit,you need to withdraw of dollars with profit.If you keep play with greedy,you may loss by the bad luck.

On the other hand, I think only those who are really addicted like him can be desperate to take out a loan just to gamble, I can't imagine that they would do that just to fulfill their lust and curiosity to gamble. Sometimes using your own money if the results always lose is very disappointing, especially when we use money from borrowing, of course there will be greater pressure that you will feel because you are gambling with borrowed money.

This is really not recommended because if you are accustomed to making loans just to gamble but the final result still always loses then it's like you dig a new hole to trap yourself in a new problem. It is not uncommon for us to find many people who suffer from many problems, especially in debt, which makes them depressed and I have even heard of some people committing suicide because they cannot stand all the pressure from the problems that always arise. So of course as you suggest if we really don't have the money to bet then it's better not to do it, don't try to find other alternatives to get money just to gamble, it's better to just rest or allocate yourself to other more positive activities so that your mind is distracted.

Will never be advisable.
Loan or borrowed money shouldn't be exposed with risk given that you have to pay the interest and it would be a bigger problem losing it and be needing to pay it; you'd be in debt if things got worse. Only gamble your money, at least if you happened to lose it with bets, nothing further would be a problem. As most of us know, a money we did not earned the hard way is easy to consume and I think same idea goes with borrowed money; if you would gamble it, there's a tendency for greed to take place as well as compulsion with bets. If you happened to be lacking with money to bet, then simply choose to rest and wait til you already have than forcing your way thru, in such way.

Not only in the field of gambling but also in other things in life as well specially on dealing up with something. Overconfidence would really be leading into disaster if you arent that careful with it.
Taking up some loan for the sake of gambling then it would really be ending up on a disaster specially if you are unlucky and losing up all of those bets on one go. This is why whenever you do take a loan
then never ever make yourself that get engaged with gambling because those amounts or money will really be surely gone in fast pace. Gamble on the money on which you can only afford to lose
and never ever make yourself that too confident that you could be able to repay those loans because of gambling winning.

If it turns out that you have been able to win up then lucky for you but if not then it would be a huge life wrecking kind of condition since you would be needing to pay up
those loans and if not then you do know on what are the chances or probabilities on things that could happen which is something that we dont really like to happen.
So it would be better that you should think twice or thrice or more before considering such act.

Since you started gambling for fun with $20, you couldn't stop yourself, and you said you owed $2180, your life has fallen behind financially for 2 years. If you borrow money again and use it in risky activities, you may get into trouble, you should never do this, many gamblers may try this. It is necessary to control your emotions while gambling.

You may suddenly become indebted to a game that you only aim for fun. Sometimes it is very difficult to say stop. When you stop it, you make a profit. Generally, as long as you continue, you lose money.

I feel sorry for you and what you've lost, but you had to experience this in order to learn your lesson and stop gambling for good. People often start gambling casually and then get addicted to it, even if they don't get addicted, they make the mistake of trying to recover their losses which leads them to incur more losses and that continues until the guy gives up and decides to put a full stop on this and finally stop gambling but by that time, it's already too late.

I always ask people to never chase their losses, money that is lost in gambling is gone and you can't get it back, but if you try to get that back, you are more likely going to lose more money in that process and it isn't wise to spend $2,000 just to recover the $20 bankroll that you've lost initially.

So, if you gamble, gamble responsibly, and don't do it to earn money or profits, just have some fun and stop when you should.