Topic: Do not gamble with Loan Money~otherwise you will be in danger like me - page 38. (Read 4955 times)

This is exactly the same thing I referenced in my previous comment here, if this thread was coming from a forum newbie, I did for sure feel sympathy for him or her, and wish he or she had discovered this forum much earlier, maybe he or she wouldn't have made such a huge mistake as to borrowing such an amount of money solely for gambling, but it's unfortunate that this is coming from someone who have spent some time here and knows all that we always advice other gamblers not to do.

But anyways, it's like what some of us always say that some people will or may never learn until they have  to learn the hard way, this is exactly the story of the op as it currently stands, And I hope no one have to make this same mistake again.

Sad to know this, OP. But thanks for giving us your thoughts. I think most gamblers experience this atleast once in their life. Borrowing a big chunk to chase losses is where it really gets messy. Your story is a wakeup call for anyone thinking about hitting up the bank for a gambling fix. Hopefully, it's a reminder to others to mot  roll the dice with money you don't have. It's a recipe for stress and setbacks, lets not hope to get there but cheers to getting back on track, OP!

How come you could make such a mistake even after being active here preaching against addiction. It's a pity though that you would have to go through this as a result of the loan you took for gambling and it turns out south for you.  It would have been meaningful if the loan was used for other purposes like investment into Bitcoin or other investments worth it to generate revenue or profit on the long run. I could feel the pains you are going through now to have mortgaged your future income to repaying your loans together with interest for what you did not benefit or make profit  from.

Indeed this is a lesson learnt in a hard way. Maybe you could have avoided this if you had controlled yourself and exercise some self-restraint from gambling and being addicted. This will teach other members here some lessons on how to gamble responsibly and have a budget for their gamble without going beyond their limits.

Avoid taking loans to  gamble as it is not a guarantee that you could make profit or fortune from gambling.  Gamble what you can afford to lose and gamble within your limit.

I hope that you will recover from this situation. It's a big lesson for you to never gamble with loan money because it's never been ideal to do so.

I have seen several stories that's the same as yours and that certainly have taught them a lot of lesson not just in finance but also in life. It's a huge mistake that you literally ask the bank to take a loan and then deposit it directly to your account to gamble.

Never borrow to gamble and always think when you're going to that part because we are still on our own, and we can trick our minds for this situation.

yes that's right, addicted gamblers should immediately realize what they are doing is wrong, especially if they have borrowed money for gambling capital I hope they can stop gambling which will make them feel addicted continuously, don't let their lives get into debt because for gambling this is not recommended. As much as possible if they really want to gamble they should use the remaining money or more money than they have, that way they will not borrow from others which of course this can harm others because most gamblers who borrow money for gambling find it difficult to return it or pay it off.
Borrowing money will only make them difficult in the future, with heavy addiction plus a lot of debt, it will make their lives not calm, where their daily lives will feel anxiety. because of the desire to gamble and also the debt that will haunt them every step of the way. So if they still want to gamble, please avoid this one thing.

OP was even lucky he didn't end up being homeless.

As long as he still has the job, he can earn money to pay his debt and survive; it's just that he has to sacrifice a bit, as his income for his needs and wants will be reduced while he pays off his debts. But the world is not over for him; it's just one mistake that can be resolved in time. What's important is that the mistake will not happen again, as we never know, he might experience worse than what he is experiencing now.

Borrowing money is not advisable, especially if you can't control your emotions and you go all out.

Since I started gambling, the risk of taking out a loan has become a mandatory thing that I have to avoid, because gambling requires the use of money that is ready to be thrown away. Whatever the reason, you have taught a lesson to those out there who still feel safe borrowing money to gamble. Gamblers like this are very irresponsible about what they bet on. I mean he didn't dare take the risk alone and instead involved other people money to gamble. As a result, gambling disappears and debt becomes a bubble that continues to burden. My advice is that if you don't dare to take risks, don't ever gamble, that's the best solution rather than having to borrow money from other people.

Whether you realize it or not you have misunderstood gambling and lacked risk management. And the root of the problem is that you are addicted. For those who are addicted, it is clear that they will do anything just to be able to bet.

That's why it is not really advisable to use loan money in gambling. The risk is too high and you will face consequences if you lose the money on your bet, you will end up having a deep problem that can take a few months or even a few years for you to clear. You've been here in this forum for quite some time, you should practice the advice you read when it comes to gambling addiction.

This is evidence that even you who try to advise people about becoming addicted to gambling have to also take your own advice so that you do not become addicted to the very thing you preach against. Some of the people who you talked not to get addicted to gambling will laugh at you and mock you for becoming an addict yourself.

Taking loans is not good generally because of the position it puts you when you want to pay back. It is unavoidable sometimes, but we should never take loans to gamble. Do not try to have fun with money that is not your own.

Using loan money for gambling is strongly discouraged due to the significant financial risks involved. When you borrow money it's typically intended for essential purposes such as for bills or emergencies. Don't use loan money for gambling it's risky. Gambling can lead you to losses and financial trouble. Use borrowed money responsibly for a stable financial future.

Youve started losing already I guess ideal if you set a boundary with your decision-making its already a large amount also questionable here is your bank doesn't have a limitation and get double with your large amount of transaction most likely they are now getting freeze account they detect a large amount of transaction, I guess seems your a regular gambler so the banks you've have doesn't make a limitation to your deposits and withdrawal, this could be a charge to experience in your side you can take back those money again but of course there's a regret seems like you have a decent job so you can easily earn that and do gambling as entertainment and not a use for source of income.

Actually it will not become a problem if OP had handled it with care like doing some calculated risk. The problem with OP was that he got so ever to win back his losses and probably be profitable that he already forget how to manage the risk. I know there are gamblers out there who borrow money who are successful but they have a focus mindset, their actions arent' dicated by their emotion but by proper planning.


The moral of OP's story here is don't be too emotional in gambing, learn how to accept losses as this is what will happen if we can't accept our losses, we'll continue to chase and we would only stop when don't have something to gamble anymore. It's hard to accept this, as OP mentioned, it needs for him to work 2 years to pay the amount he borrowed that he lose due to bad decision in gambling, but it is what it is now, everyone mistakes so he'll have to accept it and face the problem and solve it.

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I'm sure OP will learn or had probably learned beacuse he already stopped gambling and now just sharing his unfortunate situation.

This is where newbies should see this as learning from the experience of others, they don't need to lose huge amount of money just like OP to learn, so OP is such a blessing to gamblers who are aggressive enough without thinking the negative possibilities.

That is a story that should be an example for people on this forum, thank you for sharing your story here because the lesson from this story certainly attracts the attention of all of us to play responsibly and wisely so that we don't get addicted to gambling, as you said, you have consciously make mistakes and casinos will never be wrong because they prepare games for entertainment but it seems like you are playing too seriously.

I know that it is difficult to recover losses, sometimes there are those who succeed and there are also those who fail, but those who succeed are definitely not many of those who fail, that's why never chase and recover losses, let alone losses in gambling, don't always bet all the money It is hoped that you will win, because in gambling there is always a risk of loss and defeat, I hope this will be a lesson for all of us to gamble with money that we are ready to lose and not try to borrow money to gamble.

I always say that gamblers MUST only play with money that are ready to throw in the garbage!
it is obvious that asking for a loan is a gesture not to be repeated.
thanks for sharing OP. other users are probably tempted by such activity but now probably are informed with consequences.

last but not least, there are never any "sure" bets. these are not offered by bookmakers.

Thanks for sharing your experience, really appreciated.

Although we are all aware that borrowing money to gamble is too risky but there are times we break that simple rules. OP here is sharing the outcome of being irresponsible in gambling, yes, it's called being irresponsible as he would not be addicted and make bad decision if he was responsible. You know, there's a saying on responsible gambling, right?  Like... "gamble what you can afford to lose"... so borrowing showed he can't afford gambling anymore but still continue hoping he'll at least recover his losses, that's how dangerous addiction is.

All I can suggest to you OP is take it easy, it has already happen so you have to accept the consequences of your action, and hopefully you'll learn from your mistake although in a hard way.

Yes op faced such a big loss due to his personal mistake. And I think he realizes that.  And also seen in his post that he is very sorry about this matter and asked others to refrain from it. His actions seem to have helped him overcome his gambling addiction

It would be great if you can always stay within a limit because the only way to avoid gambling is to keep yourself under control and not panic. And if you gamble with a limit, the amount of loss will also be reduced and you will be saved from the deep addiction of gambling

I'm sorry about your losses you have to double your effort or find other means of income to pay that huge loan, this is what's going to happen if you break one of the golden rules of gambling, in case you break two rules and these are taking loans and trying to recover your losses through loans, these are two deadly combinations that you will regret.
We only feel sorry after we make grave mistakes, this is a hard lesson for gamblers who easily fall into temptation or a mindset that they can really make money from gambling, we have a lot of topics and discussions about not taking a loan in gambling even if you are good even if you have an inside tips on sports that you're going to bet, its way too risky and you're going to regret it.

What happened to you is really unfortunate. I hope you get back on your feet again. Don't lose hope and think of a brighter future, don't let this thing happen again to you after you overcome this one.

It is really sad to see even with so many reminders here in this forum, where you also probably read before, a reminder saying not to gamble with loan money. There are multiple threads created with that topic which everyone should really apply to our life to avoid this kind of situation.

We know you can overcome this challenge, just think positively and don't ever lose hope. This is an experience that taught you to be better. You will surely realize so many things because of what happened. Use it to be better in the future.

That is the biggest mistake a gambler will make: that the money to gamble with comes from debt. Most of the gamblers who did that did not become successful, maybe even more in debt because the loan was probably used up immediately after losing.

Maybe there are still people doing that, and maybe not all of the loans were used for gambling, but overall, this style remains a bad habit. This shouldn't be a good habit for the gamblers here.

Many reminders like "Don't trade, don't gamble if you can not afford to lose your money". It is about your own money and if it is a loan money, it's worse. Generally it is terrible to do trading or gambling with people who can not control themselves in emotion and psychology. If they feel themselves are uncontrollable in emotion and psychology, don't trade and don't gamble is the best.

You do it but you are safe because you are good at control yourself and you can have expertise in gambling too. For other people, it is very risky and they should not do this.

Losing control can cause a small loss to bigger losses like losing own money to borrow more money and repeat same mistakes to revenge and cover the initial loss. The ending is like losing more and even losing a chance to correct mistake.