Topic: Do not gamble with Loan Money~otherwise you will be in danger like me - page 35. (Read 4608 times)

I have no idea how could you do it but obviously it is an addiction that you did not realize. The most important for you to do now is to stay away from gambling, do not even to pay your debt from gambling or it will bring you into the worst possible case. Focus on your IRL job or any other side income you may get in order to pay your debt. I know it can be something really hard to do, but that would be the best thing you can do right now. I has happened already, you admit your own mistake and now time to pay your mistake with wiser and better actions.

The gambler should not get loan to play the game after he had loss the entire money in the gambling because of the bad luck in the game.If the gambler need to check his luck,he need to check with few dollars like 50-100 dollars.So if the time is good for the gambler,he can do the gambling and make the big money using the gambling site.The important thing was the gambler should withdrew their winning money after some profit and don't get greedy and expected more from the gambling site.The greedy may leads to the big loss in the game,it's better to withdrew funds with the minimum profit.I had loss some game and win some game in same stake.com,but the fact is you need not do the gambling with the loan money.Since you loss 1700 dollars,using loan money you must settle the 1700 at first,but depositing again will not the better option.

This can be a very valuable lesson for all of us. Indeed, gambling with our own money carries high risks. Moreover, using loans to gamble is really double risky. in fact it is highly discouraged to do so. Whatever happens, the longer you fall into the trap of gambling addiction, the more tempted you will be to take out loans, especially if loans are available that are quite easy to do, then this will support gamblers to satisfy their desire to continue gambling, in the hope that they can win in the future. next round and can pay off their loans. but believe me, it's not that easy. There are many facts about this, as the OP explained, the risk is very high. And it is not victory that can be achieved, but rather continuous failure and makes addicted gamblers increasingly in debt if they continue to fulfill their gambling desires. Stay wise in all things, and be controlled in gambling, even though this is definitely not easy. stay away from loans for gambling, truly, this is really high risk.

As I have stated many times before in similar contents, it is very important for a person to be able to control his/her own emotions while gambling and not to gamble with borrowed money. I hope you can pay off this debt without serious financial damage. This situation you went through was actually a very expensive experience for you. You probably won't make the same mistake again and gamble with borrowed money later in your life. It is always necessary to remember that gambling is a risky and expensive hobby and is never a guaranteed method of earning. For this reason, the most important factor to consider when gambling is that a person learns and knows how to control his/her own emotions. In particular, one should not gamble greedily, succumbing to the desire to make money.

If you feel like you cannot control your finances or your gambling activities, better lay it off and find some other hobbies in the mean time. This will ensure that your attention will not be pulled by gambling and you will be saving yourself a lot of headaches in the future. It's easy to avoid gambling if you aren't too deep in the shit hole, but once you already started it, there's no turning back and you will really have to exert a lot of effort to combat yourself with this kind of activity.

It's an expensive lesson, but a lesson nonetheless that taught you how to not play with fire if you're afraid to get burned.

Gambling with your own money it is not even sure if the game will end up in winning,  I don't know what will give one so much confidence to take loan to play gamble thinking that it must end up with a win. Gambling is always unpredicted,  that no one can tell what the result will be like , I think people needs to not be taking gamble serious and as a way they can easily make money. Gambling is a game of fun which people need not to take it serious but to play with the amount they can afford to lose. Any gambling that has gotten to the stage of borrowing money to play bet is a big lose.

It will only trap yourself for many new problems to come, you must be true of many gamblers who experience downturns, they experience a lot of tremendous pressure because they are too excessive and make loans as the best alternative when they run out of money to gamble. If you do run out of money to gamble then it is better to allocate your activities to other activities that are quite fun but have no risk. Another thing I suggest if you really want to gamble, it's better to put a small budget, meaning a budget that you can be responsible for the final result so that you are not disappointed and not emotional when indeed in that session you really lose.

Do not even think about borrowing just to gamble, after all gambling is only an activity that relies on luck, and that means you should not try hard to make money just to gamble, because there is no certainty for you or anyone to win, and usually what happens more often is defeat.

Dumbest thing you could do. Spend all the money you have in your bank and you'd only really affect yourself, spend money you took from loans and now only do you affect yourself now, you also affect the you of the future. God knows how many times you'd possibly do this really since it happened once, it can happen twice, thrice, and many more times. People who are under debt can be rather weak to temptation since their mindset is "I'm already down, how much lower can I go" kind of thing.

I understand the struggle of being addicted but I'll have to call you a moron for what you did, you basically endangered the financial security your family has, loans should NEVER be used for something like gambling. I suggest that you seek professional help(I know this will further burden you financially but you have to do it) because realizing that you made a mistake and saying to yourself that you will never do it again is not enough.

the OP is from Bangladesh, he mentioned "BDT" which is what their local currency is called.

If you are in Nigerian, I believe you will not take such amount of loan because you just took roughly more than ₦2M in Naira currency and that's a lot that can even start a business instead of gambling. In short, having such amount of money ending in gambling is more like a foolish step because I don't understand why you will use such an amount but perhaps your currency is high value but even with that, $2k dolls will go a long way to help in doing much in ones life.

There is no point in regrets but I hope.you have learned your lessons, it's either you stop gambling and look for a way to pay back the loan and continue to look for good alternative to earn money, and make sure that you keep yourself busy everytime, so that next time you don't take loan to finance gambling, that's a wrong financial mistake you just did and your learn the hard way, but it's not the end of the world.

It's very wrong to take such as an option....I won't even condone gambling, talkmore of gambling away borrowed funds... What on earth would give someone the guts to gambling with borrowed funds? Okay.. I get; some people really regard gambling as a business to venture into, but that's wrong to think of.

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first of all, don't gamble - if you must, then don't ever do it with people's funds... Have it that gambling isn't the surest way to double up and make profits.

Sandra 🧑‍🦰

What an experience for you OP.
That should give you a nightmare when you've taken a loan and then you lost it. I don't take usually loan for gambling but when I do, I think that I already have a sign. But good thing that I am still on the right way not to do it. Because if I do so, that's going to make me crazy and these money that we spend on gambling from loans are hard to recover.

You'll be in debt and the interest will keep growing until you can't pay it in full so there's the installment. And that part is the hardest honestly because you'll not be able to recover so fast until you take another loan to pay it and the cycle goes on. But I don't recommend to do that because it will put you to a harder cycle until you get used to it.

You have really learned a valuable lesson from gambling, and hopefully you won't do it again. You have to work very hard to be able to pay off your debts. This is a valuable lesson for all of us too. Don't let us be in a position like that experienced by @OP or our lives will fall apart, and it will be difficult to get up in a situation like that. @OP, you have to be able to rise from adversity. This is not the end of it because you can still try to have money to pay the debts. Don't leave debts to your family or those who will experience difficulties.

That's why we always repeat the phrase: only use the money you can afford. If you have experienced a losing streak, you should immediately stop and not remember your losses because it is useless. If you continue gambling, it will not return the money you lost. You will only increase the number of losses even greater.

To me it is very brave of him to actually share his story here instead of suffering in silence because of his losses, this is a very cautionary story to anyone who believes they can beat the system and chase losses without having to face further consequences.
You know, in this era of social Media it has become very common for everyone to get attracted to stories of success, to see people doing it big while gambling or in business, that we have become somewhat isolated from reality, and in reality there are more losses than wins, in the case of gambling. People will only share their success and repress their failures. The fact OP wanted to be an exception for the sake of others to learn is something we should appreciate. After all, I am sure there has been several people who have been in a similar situation and they do not dare to openly talk about it in this section of the forum.

It is not new because this is always the case when gamblers start to lose their money, they want to chase to recover but usually unlucky to recover. You are not the only one in such uncontrollable situation and two years is a very long time for you to get back to your finance but I wonder the bank that gave you such loan if you gave some collateral before having access to the loan.

This is unfortunate and it is not going end with you because more gamblers can't control themselves when they are losing. At such times all that comes to your mind is how to play and win back your money and it is sad the kind of story you have told.

The fact you open with "kept winning and losing" shows you've not broken out of the gambler mentality yet. You were losing all along, it was a steady decline downwards punctuated by little morsels of your own money paid back to you. You are the definition of a problem gambler and should cut this activity out of your life entirely, because you clearly have a lack of self control and are able to concoct all sorts of mental gymnastics which led to you pouring good money after bad. Many people would not gamble at all, fewer would stick around after losing $1700 - which is a massive amount in comparison to your self proclaimed earning potential and even less would double down on that horrendous situation to make it worse. I wish you luck digging yourself out of this position, but greed is what sunk you and it's hard to have sympathy for that.

We have the liberty to do whatever we like to do and getting loan from people around or bank to bet is something we should try at all. We might have seen it in movies how people get loan and bet with it and suddenly win bets and paid back the loan and continue with their lifestyles. This is not the case most time and we should not attempt to get loan for the sake of using it to bet. It is not easy for us to bet with money we know is not for us or money that we got from a source which we have to pay back as soon as possible. We need to be wise and take good decisions.

This is a very sad story and I pray that you can get help, whether it be financial help to pay off the loan or psychological help to help you get through this phase without having any trauma. Now something that I can't stop asking myself, how did the bank give you a loan so quickly and with that amount of money if you don't have the money to pay? Normally banks are very strict when it comes to granting loans to their customers, they ask for collateral and ask what the purpose of the money the customer is asking for is. so I suppose your bank asked you to show guarantee that you could pay, but even then banks take time to give the loan

Another point is that when you have a wife and the person is married, then the bank requires the presence of the wife on the day of signing the contract, so how did you take out a loan without your wife knowing? if you took out a loan without your wife knowing then you might be having an addiction to gambling and one day your wife finds out that you lied to her then this could lead to a big problem where your wife would leave you and if you have children, so they will go with your wife and you will be alone.. I advise you to seek treatment to see if you are not addicted and while participating in signature campaigns related to casinos then your addiction will not cure, I hope you take the time and do some tests As simple as not playing anything for many months, if you can't stop playing within 6 months, then you may have an addiction and you will need to see a doctor urgently before you destroy your life and your family even more.

It is not good to take a loan then if a person takes a gamble after taking a loan then he is taking the worst step of his life. Gambling is one of the most risky game and its outcome is uncertain, a successful gambler cannot tell what the outcome of this match might be, where this game is so uncertain and so risky how do we plan to take a loan and gamble. When our financial situation is very bad and we don't have enough money to meet our needs or when we are in a lot of danger and we don't have enough money to get out of that danger then we can take a loan under compulsion but there is no point in taking a loan for gambling. Gambling loans put you in danger If someone else is found taking a gambling loan, he may be in more danger than that, so we must refrain from doing this.

First of all, i'm sorry about the condition you are experiencing, indeed when we are passionate about gambling, we feel that the loan we are going to make will be easy for us to pay in the future, in fact that's not the case at all, we are even overwhelmed to pay it, in fact we have to lose with the loan money which means we have already lost twice as much.  Gambling responsibly is very easy to say, but difficult to carry out, so it requires a strong intention from within us to gamble carefully.  The importance of your finances is now normal, your experience is very inspiring so that beginners in gambling are careful so that they don't get caught in debt tricks for gambling capital.