Topic: Ever heard about financing a gambler? - page 20. (Read 3358 times)

Its shocking how often individuals confuse sound financial decisions with bad behaviors. Seriously, gambling with a loan? Its crazy. You're right: casinos feed on players' insecurities and urges. Money flow, not source, is their main focus. This is the harsh reality. Some may claim that confidence in one's style of play can help, but thats risky. Why? Because gambling with borrowed money leads to financial catastrophe.

Futures risk-taking is very different from gambling in terms of financial discipline and smart selections. Like comparing apples with oranges. While both require money, the principles differ greatly. Research and strategy underpin investment, while chance underpins gambling. As you noted, some, driven by desperation or overconfidence, jump into this abyss. Its the consequences that matter, not whether they win or lose. The debt persists. Lasts, possibly causing irreparable damage.

The fact that gambling is involved, I don’t think he can be trusted when it comes to money matters. Although it’s okay if he will really use the money for good purposes, but when it comes to gambling using borrowed money, then never expect that he will still be able to repay you or even pay a portion of it.

However, I have never experienced financing a gambler ever since. And if it’s going to happen in the future, for sure I will never ride with it. I am a regular gambler so I know eventually the winning rate vs the losing rate. And most of the time, gamblers often lose so while the house is always the winner.

It would be more accurate to state that they don't have a guarantee to win rather than that they don't have a chance to win. In addition, it is necessary to take into account that a friend who has asked to borrow money to gamble has already lost all their own money in gambling or perhaps the money they borrowed from other friends before us and therefore asks us to borrow money. It isn't difficult to guess that if such a person is given a loan, they will not be able to make a profit therefore they will not be able to repay the amount they borrowed and therefore our friendship will be negatively affected by this situation. While any debt received in this way will never be paid on time and at once there is a very high probability that it will not be paid at all. This will negatively affect the friendship between the borrower and the lender.

Borrowing money from a friend doesn't actually mean that the debt must be repaid at any time. Considering that money has lost its purchasing power especially in today's conditions, it is undoubtedly a fact that even if the debt is collected the lender will also experience losses in purchasing power. For this reason, the lender should never lend money to their friend for gambling in order to preserve the purchasing power of their money and not to take the risk of not getting their money back. Additionally, I think that under no circumstances should a friend be lent money to gamble so that friendship aren't negatively affected.

And if we need to see actual reality of this happening we just need to go online on dice sites or basically any kind of crypto casino where you can tip or send money to someone else. Usually where there's a chat board.

"Famous" gamblers/users will show proof he always pays. Then you loan him for high interest.

All the loans go well until the borrower busts and then exit scams lol

I completely agree, it is quite absurd to lend money to a friend to gamble and expect the loan to be repaid without any problems. The reason for this is that although the connection of friendship will provide comfort to this person in the first stage but this connection will also increase the problem later on. Of course, it may vary from person to person but I would rather experience temporary uneasiness by rejecting a loan offer than ending my friendship with a friend for such a reason.


We think similarly; if a friend of mine is in a difficult situation to meet a basic need I can lend them money without hesitation but if they asks to borrow money to gamble I will definitely reject this offer. Especially if a friend of mine who is addicted to gambling asks for a loan and then says he/she will pay the debt I will not have any trust in him/her. I would never reject a friend who really needs money and not want him/her to be in a bad situation or for him/his to move away from me for this reason but if a friend wants to borrow money to gamble I will undoubtedly refuse and I don't want my friendship to be negatively affected by the debt he cannot pay.

Likewise I will never give any money for the purpose of gambling even if it is close friend or even my own relative because whatever will happen lending money just for gambling is the wrong action and dealing with borrowing from friends or relatives will only result in problem.
Several times I have experienced problems that have caused damage to friendships just because I collected money that was borrowed and from this experience I don't want to experience something similar again.

Meanwhile what you say will only be useful and can be determined if the country where you live allows gambling because when you put money as an investment in gambling and the country prohibits it will only make things difficult when something bad happens.

Actually I only caught a little of OP's meaning, he just asked how you felt and what you would do if a friend of yours asked you to pay for him to bet on sports betting and he got a share of the winnings, for example your friend came to you in full high self-confidence that he is an expert at gambling and always wins whatever games and bets he plays so he asks you to finance him.

But most people will definitely reject it because of course this method will result in losing money too, for example if your friend wins maybe he can get free money from winnings that comes from your capital, but if he loses it may not guarantee that he owes you money. and return your money, that's what the OP meant from what I read. 

?The moment a person decides to make a loan, things can be very different, because that person will see if they use the loan to gamble or for whatever, I personally would not consider looking for a loan just to play in a casino, Because I see that as a Double-edged sword , so I don't see it as Correct , of course it's my way of thinking, there are people who tend to have a lot of confidence the same way , and well I'm not Capable of doing it, the most reckless players can make the difference I think that's all they can do.

Some people are very Confident in their Style of Play , but the truth is that I or there would be something like that, I think it is more feasible to risk money in futures than in a Casino , people who risk money in a casino for a loan know that that It is like putting salt in water, and that is something that basically cannot be done because things When it comes to money must be protected and it is something that must be considered at all times, this is why in a casino things must be clear about the amount of gambling, a casino Does not care where the gambler gets the money from, the casino is interested in who brings in money, because that is what it Bases its business on, on putting a bath on its customers, I don't see the rest Something else is more feasible, for people who risk their money in the casino, I don't see it as bad, each person decides how to make their money come and go, but I think that risking money that is requested in the forum is wrong, because if it is lose how will he do? You still have to pay it, you can't keep the loan just like that, you have to pay for it. When things are about how to have more money, people come up with many things , sometimes crazy, and sometimes craz very desperately , so in this order of ideas you cannot lose control, you should always do things naturally without having to risk too much, because if you lose everything , that's where it all ends.

That's true because when they borrow money to gamble, they have no chance of winning from gambling and in fact, they will only experience losses that will cause them to lose all their money. Apart from that, if the person borrowing the money is a close friend but they use it for gambling, maybe later there will be problems in our friendship so they won't be comfortable continuing their relationship with us. It's true that there's no problem if the debt is returned, but in reality, many of our friends don't realize that they already owe us money but haven't paid it back, even just by returning it little by little. This will affect our friendship with him because he borrowed money to get into debt.

They think that by borrowing from their friends, they can freely repay their debt whenever they want. But that's not the case because it is a debt that we must return as soon as possible and keep the debt from going unpaid when it is due. Those who borrow money from me and use it for gambling will be rejected because I don't want to experience any problems with them. I don't want debt problems to interfere with our friendly relationship so I have to refuse it. But I'm still willing to lend him the money if it's to buy his daily necessities.

Anyone who loans money to the desperate cannot be called a good person. And if someone loans money to gamblers then you know that his "target customers" are the desperate. People who most likely will not be able to pay the money back. Those people can be exploited and blackmailed. I think that such actions are clear red flags that the person is not a kind-hearted soul who is offering help, rather a shady individual who offers an addict more addiction.

Also, I would not go as far as to call forex or crypto trading as skill based. More like probability based but those with knowledge know how to create a "house edge" for themselves.

Yes, I've heard of this before and some friends of mine got a friend of theirs that have been introduced to me by just talking, not in person. If I am convinced, I'm not going to put a lot of money on them and will want to prove to me that they're for real and are good gamblers. If the return is decent and I've earned it somehow, I'd just roll the profit and take back my money on it so that I don't have anything to lose. It doesn't really make sense if you don't know how it works or even if you do but you have trust issues, you're just better to gamble with your own money. I think that there are only chosen games that these gamblers are offering. Of course, you wouldn't go with the ones that are offering only luck-based games. These gamblers might prove that they're good poker players and sports bettors. Other than that, I cannot think of the games that they can prove themselves to be good to be trustworthy with financing them with their skills and play. But for your own safety and assurance, avoid any offer so that you won't get involved in any potential loss of your money through the hands of other people. That's more painful that seeing yourself gamble and have it lose within less than a day.

This, which does not make sense in casino games, EV-, is more common than it seems in poker, to play high buy-in tournaments and to play in high stakes at tables where there are whales and the good player does not have enough bankroll. It was also common in online poker schools to train people for free but in exchange for a percentage of their profits for a while. For my part I have not done it because I try to avoid any kind of debt, but it is not uncommon in poker.

No, it doesn't make any sense but some people will still have the courage to do that. All I do if I face that situation is make an excuse if the person is a close one and simply say no if it's someone I don't really care about.

Even if it's something skill-based like trading or forex, you are still not supposed to finance someone to go ahead and do it unless you have a lot of extra money and ready to take a gamble on them.

Well, I've not seen someone asking for finance in terms of only getting a portion of the profits for gambling but people often approach you to borrow money that they will return later.

Exactly, if it's just about gambling and you are just going to get a portion of the profits and nothing if it's all lost then why shouldn't one do it themselves and keep all the profits?

No, your judgment is not wrong and one isn't supposed to finance someone to gamble just to get a portion of the profits they might get because gambling is purely based on luck and there is no guarantee for the wins at all.

You need to know if every people in this forum are have money or valuable asset, so if your friend have money in the first place, why he need to borrow your money? this mean all of his money was used for gamble and they lose it.

If he lose all of his money through gambling, why in the hell you can ask this and think there's a probability if he's honest?

I definitely wouldn't like this scheme even if offered by close friend. He may gamble and make money but not give anything. Words mean nothing when there are no legal bindings. But I feel like there could be some different investment funds (as structure) that people could invest in professional gamblers. I think gambling loving rich people would love example given by me. But many countries wouldn't allow it to happen which is sad. Getting shares of gambler is not terrible idea.

Money and friends? A slippery slope. Sometimes it seems like lending your favorite outfit to a friend and hoping for no coffee stains. When gambling is involved, the stakes rise. Literally. Lending money for a flutter? Thats like hoping a coin lands on its edge. Million-to-one shot. You understand this dance's complexity now, which is good.

What if your friend wanted to borrow money to gamble on Antarctic penguin races? Its out there, but isnt gambling about that? The wild odds? The thrill? But like you said, no joy is worth sacrificing a friendship. What if collateral is a stuffed penguin from that Antarctic adventure? Story lesson? The ultimate prize in life is keeping friendships light, entertaining, and money-free.

I don't trust my gambling friends because they can't live up to their word. There is no guarantee of winning or losing in gambling and there is no guarantee if the gambler makes a bet depending on it. I can lend to my friends who can afford to pay back. The thing I achieve is that I don't want to be mean to my friends with money. As money brings people closer, many good relationships are ruined because of it. If a friend of mine is in real danger I will certainly lend him money, I am not willing to pay for gambling. In this concern, my close friends consider me negatively but later they will treat positively.

I have definitely seen people both in my own circle of friends and in the circle of friends of many people around me whose friendships ended because one side borrowed money and didn't pay the debt. This is actually a very bad situation because cutting off the friendship especially when the side who borrows money and doesn't pay back. Actually this shows that the person is forming a friendship for money or isn't a real friend. I generally don't lend money to my friends who I think will not repay their debts because especially my friends who are addicted to gambling use the money they borrowed to regain the money they lost before just as you mentioned. Naturally, when they loses the money they borrowed, they cannot repay it in any way and our friendship is negatively affected by this situation. If I had to give information about my gambling habit I tell the people around me that I trust just like you do that I gamble and since I only play for fun I lose an amount of money that does not upset me.

Certainly, if a gambler friend of mine loses all his money gambling and says he/she wants to borrow money from me for other expenses I generally take care not to feel sorry for him/her because he/she is in such a difficult situation not because he/she is in a bad financial situation but because he/she lost money in gambling. It is not necessary to borrow money to gamble in any way and even gambling shouldn't be done with the savings that may be needed.

It is a fact that many friendships end because of debt. As much as possible, I never give loans to friends because I don't know how to collect them later, especially if he is a gambler who will definitely never become rich and pay off debts, therefore I prefer I like to gamble alone in a special room for gambling so that no one knows I gamble except my wife.

I once received a short message from my friend that he wanted to borrow money because he lost a lot of money so he didn't have any more money to pay his house bills, whereas I know that he will definitely use the money to gamble again to recover his losses, don't try to feel bad for him. friend, because it's for his own good too, so that he doesn't depend on anyone and be in debt to anyone to gamble. Moreover, it is not recommended to gamble by going into debt, you should use unused money from work or business income.

Yes, the reason why I never lend money to someone who asks for a loan for gambling is because there is never a guaranteed profit in gambling. Especially giving this debt to a close friend and then not being able to repay it if this person loses the money definitely harms the friendship. I also think it is important to give advice about this especially if a friend who is addicted to gambling makes such an offer. As I mentioned, I don't think that there will be a serious problem if a loan is given against with collateral but in case the debt is not paid it will be necessary to liquidate the collateral and this situation will also have the possibility of negatively affecting the friendship. So, I think that if the situation in question is a friendship, it doesn't matter for what purpose the loan is taken or given.

In general, we see that people who don't have the opportunity to provide collateral for the loan, they request cannot get a loan from banks and similar financial institutions. This is the reason why they are asking for a loan from us. However, in such a situation I think that whenever possible, we should avoid lending or borrowing money from our close friends especially in order not to make debt collection difficult, not to increase the debt amount and not to negatively affect the friendship relationship.