Topic: Ever heard about financing a gambler? - page 18. (Read 3358 times)

when most people are warning people not to borrow money and not to use money that was intended to pay bills in the real world, and because people know the danger of the serious consequences of using money that one cannot afford of losing and putting in the casino. Gambling games were designed so that the house always wins, so if you put in $100 and play a game of chance, you will lose all $100. I know that on many YouTube channels and Telegram channels there have been people who consider themselves professional bettors who keep saying that they make a living from sports betting, but these professional bettors don't show the value of their bankroll

and in most cases what has happened is that a certain betting house sponsors YouTube channels and the owner of the YouTube channel keeps betting money on that betting house, the guy even shows high amounts of money that he is placing on the bet he made in the betting house that is sponsoring his channel, this makes people think that it is possible to make money with sports betting and as a consequence people start to borrow money, other people sell their assets to bet. This is because they are being deceived by videos of people who consider themselves professional gamblers, instead of looking at gambling as fun and playing for fun. they begin to delude themselves that they can make a profit and lose everything

Nope, why does someone have to be such dumb?

One who is going to finance carries the complete risk if the player loses in the bet whereas if he wins only a portion will be shared! Why not just take the risk by the one who can finance it and eliminate the middleman?

I don't think you should lend money for such things even if the person asking is your closest friend, only supporting them in real life doesn't help them to satisfy their wants.

Nicely said and I agree with you.
But there are gamblers who can provide proof that they won, especially in poker games where champions are being photographed and they post it on social media. I've seen one of my friends on one poker page and it's not just once but it had been a lot of times that he won the top prize in a poker tournament.
Will you invest in those types of gamblers? I mean, they have the proof to back up their claims that they can win and they are not fooling around even if they are using the money of those who invested to his skills. IMO, I will invest with them especially if I know the person so that my money will be safe and no scam will happen or they will not runaway. Besides, it's not a casino game that relies on house edge so I think poker players are good to invest with.

100% I say that this kind of action and behavior is unhealthy and unreasonable. Remember, if a friend offers you gambling and asks for money to bet, I dare say that friend gambles often and loses often, you could say very often, don't respond to a friend like that.

I've never seen what that is....

For me no, I don't believe that, other people I don't know, gambling is really luck, gambling is not a business that can make a profit.

Maybe for other reasons aside, I would but when it comes to gambling --I hereby decline right away even if that person offers a huge share. It is gambling and we know that there is no assurance of winning, I don't we have to compromise finances to others.
It was hard to trust someone when it comes to gambling. I'd rather gamble myself rather than let someone do it using my money. It doesn't matter if I lose as I enjoyed it than when someone makes use of our funds as it doesn't matter for them if they lose because it was not their money.

Yes, there have been many cases that have happened just because debt has damaged friendships, therefore, don't ever try to lend money, let alone to fund gambling, because there will be risks involved, apart from losing, relationships are also damaged because of debt, the right way is to donate to people who need or give something that is right, for example food to people who cannot afford food or the poor.

Your method is correct and as much as possible look for reasons that don't offend your friends when your friends try to borrow money from you, especially for gambling. The most difficult thing is also to look for reasons that maybe our friends can understand and not think of us as stingy friends and In the end it also damages friendships, but lying a little is okay for a reason, I don't think it will be a big problem to prevent your friend from owing you money. 

if a gambler came to me and asked me to help him finance his gambling and promised to share the proceeds of his gambling later, i would immediately refuse him right then and there, even if he was a close friend of mine. it does give the impression that i don't believe him, but that's not because i don't believe him, it's just that the reason isn't right for me to lend him my money.

moreover, gambling carries the risk of losing money and to be honest, i'm not someone who has the luxury of lending someone money for their gambling. if they want to gamble, they should just use their own money so they won't lose twice if they lose.

I've never seen it, but it could be what you say. If it's true, maybe they have their reasons for doing that. Or perhaps they know gamblers and then ask them to gamble for them. They act like investors who hand over their money to someone else and will enjoy the results, but they are really looking for someone they know who is an expert at gambling so they can win. For them, perhaps it is their newest business model to make money where they don't have to bet directly but hand it over to an expert. Well, anything can happen, especially since this is gambling, and some people are really experts at playing poker and roulette or other gambling games.

If I'm not mistaken, I've read threads like this but don't know for sure the truth and if that happened to me then the answer I would definitely give is to reject it, let alone gambling, even for trading in the forex or crypto market, I would still reject it because of the certainty of profit in such activities are highly uncertain, so it would be better to refuse them.
Even when a friend of yours comes to borrow not with a profit-sharing system but for gambling or trading, it is better to refuse because he will face difficulties in paying it off later unless you have no problem losing the money because you want to maintain your friendship with him because it is difficult to refuse.

I'm a person who don't like to lend my money to someone else including my trusted friend because money is really easy to broke someone relationship. Even a trusted friend, I might not lend my money, what about a gambling addict? 0% chance.

I'd rather to donate my money for poor people who can't afford to buy foods than someone which used the money to donate for the rich people aka the house.

The risk is definitely on the financiers, but these individuals are well-known in the community, and they aren't gullible enough to fall for scams. If the person being financed were to attempt to rig the game, they should also consider their personal safety. Once these financiers discover any foul play, they could take extreme measures to protect their interests.

It's all about trust. When someone entrusts you with their money, never attempt to cheat behind their back, especially when you're aware that they have both the means and a strong connection to the gambling world. They certainly have the capability to deal with those who betray their trust.

This also extends to other sports as well, such as billiards. When you encounter someone with exceptional talent in billiards, you can offer them support, and if they bring in profits, the financier might provide a certain amount for a job well done. For the talented individual, there's no risk involved; they just need to be honest and loyal.

Yes, I personally have a colleague at work who does gambling, and I invest in him. So far, it's good because we have a contract about the share or earnings. I, of course, make sure that I will not be scammed or lose my money, so we talk about the contract carefully so it will be beneficial for both of us. Well, I also assess him first before I invest; I ask for proof of legitimacy or his earnings through gambling; and I also observe him for a specific period of time. In short, I do my own analysis to determine if I'm going to trust my money to that person. So far, the income is continuous and fixed, and I also earn beyond the capital that I gave him. In fact, I put in more money little by little to expand my earnings, and right now I truly trust that person. How about the others? I think some experience is the opposite of what I've experienced.

Here in my place, it is common here in my place where someone is going to finance a person they think is lucky or good for the particular game. You can see it in cockfighting and cara y cruz. There are times financers were getting double crossed or tricked by whom they've trusted that is why they are now present watching the game. It is actually risky for both the financer and the person who played the game though some financer just literally hire and pay the player win or loss.

The truth is that we think that lending money is for a need, something very big, for a need that has nothing to do with having fun, because it is something that doesn't make much sense, of course, that's my way of thinking, but there are people who do it Everything for wanting to have some fun, although I don't have a problem with that, but as long as they have the ability to pay , this is something that I couldn't do, there are people who find themselves in only one fate, which are common obligations, which They have a lot of money, I think that in those cases if one of those People who are the favorites or the most favorites of the owners, they should Have no problem lending them some money or giving them some credit, because they know very well that they can pay for it. ar with the precision and in the given time, so for these cases there are no problems, but in the casino of a player who is somewhat difficult to get money, but by working and working hard, because it is something that can happen, this type of person is the that they should not make any type of loan to be in a hut or jungle, it seems to me that it is a very irresponsible act, because it does not make any sense to me.

The people who normally ask for loans inside a casino and do not Pay , are the ones who go in a direct direction towards addiction, and that is something that is not good, I do not accept anyone who goes down that path of lending money, yes, the money is gone , because loans cannot be made to play, because it is very certain that they will lose money, and it is not Recommended, it is like giving more stress, more stress, people generally when they play with need and with stress, not gnaan, because pressure is something that does not allow anyone to play well, in fact the games in the casino were made to have fun not to be bad, and that is what we should avoid, I could not do something like that because basically when a person does not play for fun but out of necessity, the brain changes, and things become more focused and they may play perfectly, but if they are not lucky , there is Nothing to do.

Of course, talking specifically about gambling it would be correct to point out that such people generally lose much more money than they earn. Moreover, in such a case the risk and return ratio will be abnormally unbalanced because it is very difficult to know when the person we are financing will stop gambling if they earns money from gambling but it is a fact that they will not stop gambling until they loses all the money they borrowed. Although I wouldn't agree to lend money to a friend who asks me to finance them for forex and cryptocurrency trading. I think it wouldn't be right to compare it with gambling. Indeed, a person who has experience in financial markets may have a higher rate of winnings compared to losses because this literally depends on experience but unfortunately this isn't the case in gambling. However, regardless of the circumstances and the earning status of the person being financed I think that in general the risk of loss and risk threshold will be greater if one gambles or trades without risking one's own money. Of course, when this is the case, this person will not be able to repay the debt on time or at all after losing all the money which will trigger a negative impact on the friendship. Certainly, it would be a more logical decision to reject friends who ask to borrow money especially for gambling as this has the potential to both result in the loss of the financed amount and deteriorate the friendship.

Finally, I would like to point out that just as you mentioned, if a friend of mine wants to borrow money for their daily expenses because he/she is in a difficult situation I can definitely do my best to help him without waiting for their repayment but if they asks for a loan to gamble or trade in financial markets, ,n this case I will easily reject this offer.

We need to be careful when lending money to someone that has shown the propensity to gamble a little bit too much for our tastes, and if they ask money from you because of an emergency they are facing and you want to help them you can do so, but do not give them any money.

What you need to do is to pay directly for what they need, this way you prevent that money to be spent in something else, and if they are lying you can caught them in the act, as they will insist that you give them the money instead and if they keep doing this to get money from you in this way then you will know they are lying, and you can refuse to help them knowing you could have lost that money and never get it back.

That's absolutely right. The fact that they're already borrowing money indicates that they've lost the funds intended for gambling. They borrow in the hopes of recovering their losses, but if they lose again, it's highly likely that the debts won't be repaid, and friendships can be strained or even broken. If it's for emergencies, like family matters or survival in tough situations, personally, I wouldn't hesitate to help. But when it comes to entertainment, like gambling, that's a big no for me.

Exactly, even if it is a friend of ours though, we shouldn't trust anyone if we speak about finance and money. I will tell you a story about a big whale that I know if a land based casinos here. He is so trustful, if there is a word for that. I mean since he has a lot of money, he would simply trust anyone to hold that money for him. And there was this news that he entrusted someone, maybe he was a friend or very close to him. To withdraw his winning inside the land base casino. It was a huge amount of money. Unfortunately, the supposedly person withdraw that but didn't give the money to the whale and disappear. Now he is being hunted and there were appropriate court cases against that guy. Moral lesson is that trust is very subjective, and as far as money goes, everyone is tempted.

I think that what is true is that some gamblers sell stakes when they participate in tournaments like in poker. I have seen that before and I believe there are also forums where well known players offer to others to pay some of their entry fee in return for potential winnings. But I don't understand why anyone would have a good reason to pay someone to gamble for them. If it is real gambling where it is all about luck it's like wasting money. And how would that be done? Will the investor be updated on what the paid gambler played? If anyone said that this is a business model, I definitely haven't heard about it ever. It doesn't make sense to ask someone to play roulette for them. I do get the point in poker, but even there it's something I wouldn't recommend to anyone.

It's true what @carlisle1 said because after all, gambling is not a place to make money, so we can't just give loans to our friends to gamble. It would be better to lend him money to build a business, and we could partner with him where we are the investors and he runs the business. That will have more opportunities to make money, and we have helped him to want to work where later.

There is no guarantee that he can win. That is what we must always remember so that we do not give out loan money. And if he loses all the money, how will he return the loan money when he didn't give us any guarantee. That will cause problems in our friendship.