Topic: Ever heard about financing a gambler? - page 22. (Read 3435 times)

I haven't seen anyone doing financing in gambling but I have noticed mostly in cockfighting in my local area that they will ask someone to give them money so that they can bet and if they win, the money will be back and then the profit will be cut by 2 for them, but this is not just a random person because mostly I noticed that they are friends or relatives but it is something that they are giving money or financing someone to bet but if the bet was a loss then the owner of the money lost it so it is all about trust and luck.

I think that your business here is a little bit different to what the OP is describing. You have a very good reputation as somewhat of a collateral, and you sold a very small portion of the stake in the competition, which makes the downside risk quite low and a fair bit of fun for anyone who was interested. It's a lot different to trusting a stranger, online person or friend with some money for the slot machines or online games.


I doubt that anyone who funds a gambler would do it in a way where they are not able to see or verify the results, unless it is someone whom they think that they trust quite significantly. I've never heard of a good portfolio in gambling in games of chance, only in skill-based games, this is a little bit different though in my opinion.

It makes sense if you are a mobster and a "loan shark", and you want to make the gamblers your lifetime debtors. Gamblers can be easily exploited financially. That's why many mobsters, who owned casinos were offering loan services at the same time.
I could give a loan to a gambler, only if he can provide more than 150% collateral for the loan. Giving a loan to a gambler without any collateral is pure madness. I don't care about how good a gambler actually is and what are his skills and experience. I just want collateral for the loan.
Skills and experience means nothing in the gambling world.

It amazes me that there are members who still don't know this concept. I'm not sure if the message was conveyed properly so why don't we make it simpler or expand the scope and not just strictly casinos and sportsbooks? Financing can be as simple as letting your friend borrow a small amount to bet on basketball like those in the park? He could be the one playing or some guys you know from your neighborhood.

Before I lend to a friend, I will definitely try to get a good idea of the current condition of that friend. Because if he's not doing well financially or if he doesn't have a good source of income then I won't be interested in giving him money because if that friend loses then I'm less likely to get that money back. A gambler is not guaranteed to win and gambling has fatal effects for those who gamble on loan. Even if I lend him money in any order, I will not join him in betting. If I'm interested I'll definitely try to bet myself. Although I have not heard of any such incident. However, this is not unusual. Maybe my friend is very experienced in gambling but I have no interest in partnership betting.

This is my first time hearing such this, and this is not a good idea.
Even if that is your most trusted friend, I don't think it is advisable to finance someone for them to gamble. First, maybe that friend wanted to generate an income out of gambling but he/she had no funds, so approached a friend. Meaning, if that person failed to win and lost all the money, how will he/she pay now? This is not a win-win situation, because only one is certain to benefit because he/she has nothing to lose. Again, it is never a good idea to use borrowed money for gambling because it should only be your free money, and if you don't have any, then don't gamble.

Entering the world of gambling is one of the most reckless choices a person can make because it can lead to financial problems. Lending money to friends is useful, but not for gambling. Betting money is not a reliable source because it can be spent straight away without meeting important needs. Winning is everything in gambling, keeping the gambler happy at all times, but don't get caught on the losing side because it will destroy one's entire existence. Giving gamblers a hearing is outrageous to me, as they tend to screw up often when it comes time to pay back.

Many people cannot avoid the temptation to enter gambling which makes most people interested in starting to gamble. They initially gambled just for entertainment but in the end, they got deeper into gambling and couldn't get out of gambling easily. They even borrow money from their friends when they don't have money to gamble so it will only give them problems when they can't pay back the money. They should not rely on gambling to make money because it will not give good results but instead, they will have to lose their money. And that is what has ruined many people's lives and even had an impact on their home lives and also had an impact on their children.

Moreover, we know that gambling cannot always make money and what happens is that we will only damage our friendship with him. We shouldn't lend him money for gambling and our relationship with friends to become bad and uncomfortable again. They also shouldn't be able to force us to give them a loan because the money is for gambling, where the outcome will be uncertain whether they can win or lose. But if the loan money is used for business, he may still get the loan.

Some people will borrow money but don't have any collateral and this often happens with our friends and they never want to pay if we collect their debt. We may have experienced this often and if he borrows again, we don't need to lend because the debt could become even bigger.

We don't even thought to borrow money to gamble, this is not a good idea and it is good for us to try as much as possible to balance the way we make bet because this alone can pose a big threat to us in the future. Collecting loans to gamble is never advisable since we are not even guaranteed that we are good to make profits with that fund. There are people that might have taken this kind of steps and succeeded but that does not mean that it could be a good alternative for us since we don't know what they did with the funds they borrowed and how fortunate they were to have make huge profits with the borrowed funds.

If the gambler get into the gambling,they get financial problem if they get addicted to the gambling.If the gambler play the game with their interested time with limited deposit to the gambling site will not affect them at any point.Some people spend the money on the games and later think about the important things.So it’s better to concentrate on the important things of the real life.Then spend on the games which give us the entertainment.Because some addicted people in the gambling will ask the loan to all the friends number in their mobile number.So the friends will not pick the call of the gambling addicted person.

Financing player is a common practice like in poker... but in the past (some years ago - see reference below) during Direct Bet Monthly competition I have sold in a auction 1% of my stake in a competition! https://bitcointalksearch.org/topic/auction-1-of-my-stake-for-next-direct-bet-competition-3-days-auction-1565169
Of course I have won and the user has made a good investment.
For me, it was a deal since I had more crypto to gamble, so I was able to maximize my win.
Even if the experiment was profitable for all parties involved I decide to not auction anymore these stakes. 
I don't think it's easy to made such deals in a classic betting setting (it's really easy get scammed in my opinion...)

 

I don't know for any other person but I feel this is pure stupidity and I will to think that anyone who actually does this is just trying to certified the urge of him wanting to waste money because there is no base that supports the fact of someone actually being funded due to his gambling experience whatsoever.  Gambling is something that has to do with luck so actually funding someone that is a gambler just sounds pretty crazy for me.

Yes, since there is never a guarantee of winning in gambling and there are many risks such as not getting a money back if he/she gambled with borrowed money, the person who asks such a question should definitely not be given a loan.

Regarding lending against collateral I think this decision should be made depending on the collateral. In addition, if a collateral that can be easily liquidated is provided and this collateral has a value above the loan amount lending will be a logical option regardless of the purpose. The reason for this is that it is possible to easily get the loan amount or even more with collateral and the collateral secures the given debt. In other words, it will not actually be important for the lender for what purpose the loan will be given against a good collateral.

As for me, i cant take the risk because as for me gambling is best for entertainment and fun but if someone have gone to the level of taking loans from family or friends to finance they gambling escapade, such condition have slide into addictions and at that  there is high possibility of losing the borrowed money, i will rather advice the friend to simply take a break and to wait till he has is own spear money to gamble away.
But none the less, if we are in a physical casino and he just need a session to keep his head up before we leave them I can spear some few coins if I have won a lot on the roll.

In a familiar context, no. I have never heard of anything like it or seen it face to face happening in front of me. Though, I have seen some guy here in the forum who was trying to earn consequetive sport bets in order to get to 1mill $ purely on his predictions, from some money which was given to him.by others. That is the only case of gambling sponsorship I have seen here.

I would never do such think, to trust a gambler with my money, I would rather to gamble by myself. In the case of sport betting, There would be more chances I would give some money to someone who knows more about sports and their teams than I do.

Anyone can roll a dice or spin a slot machine, but not enyone can predict a football game outcome it is something which takes intuition and experience.

It feels weird once someone approaches me that way. I wouldn't dare to finance that gambler unless I'm confident that this person is consistently winning or providing high-value collateral in case of loss.


In some countries, casinos or people in casinos practice lending money to VIP gamblers. The outcome of the betting depends on the gamblers luck. If the gambler wins the bet, they will repay the borrowed money. However, if they lose, they may have to offer some assets as collateral until they settle their debt. In the worst-case scenario, the lender may seize your collateral as a form of payment for the debt you owe.

For me it doesn't make sense, because gambling is well known for generating losses on long term for most gamblers, so there is a massive chance you are never going to see your money again after you lend it to your gambler friend. Gambling isn't an investment, therefore nobody should lend or borrow money for that purpose. There are many stories of people who borrow money and weren't able to pay it back, due to accumulating losses at the casino. It never ends well.

I would not accept it because when things are dealt with other people's money that scares me and it is a very big responsibility, I would not do it because it would be something that if I do not win then I would get into problems with the associated person, and it is not for me My reputation and the things I do legally are very important, and I would also feel very bad if I lost his money. I believe that when it comes to money, the accounts have to be very clear, because otherwise fights can occur, people change because the money, I don't owe money or anything like that, because I'm not Calm , I'm all the time thinking about how to pay that quickly.

Be it forex trading or crypto trading they are all a pool of risk you only have to measure your risk appetite, your greed level and your drive for which have led to you funding the person. In as much as funding a gambler doesn't make sense to you there are people out there who have tried it out and end up very profitable from it, in essence it's very possible to profit from funding a gambler and getting a good share of his proceed from the bets he must have placed.

But then if you must engage in such it must be with a skilled person but then you would be ready to keep an open mind as to whatever the outcome turns out to be, you are going to accept it and not throw blames at the gambler as gambling is a 50/50 chances risk but then with experience some persons can turn out luckier than you would be if you had done it yourself. So at times it wouldn't be a bad idea to fund a gambler , it's important to note that's it's not a very ideal decision to take but then out there, there are people who actually take such risk and sometimes they are profitable the other times the loose.

Rather not a good idea to accept since imagine the huge risk brought up to the lender since we don't know if the person who borrow will really pay if he lose the money he lend to us. That's why its really better to decline such offers so that we will not get hurt if someone will default the payments to us. Its more better that they know we are not accepting such offers so we cannot get bothered by dubious offers telling that we can guarantee a win if we finance their gambling activities. We see a lot of story like this but end up so unfortunate to the part of financers or investors since those people gone when bad things happen and they struggle to locate those guys for possible recovery of the funds they release for supposed to be profit earning schemes.

We shouid learn from unfortunate experience and we should turn down those risky request and ignore the thoughts that we can earn if we ride on their skills.

It’s not a bad idea to me if i cross check the games and they look ambitious to me I wouldn’t mind to finance them  because blessings can come from an unexpected source in disguise so I would try it out since i will also have a portion of the money if he wins.

All of the above including gambling are based on luck. Forex and crypto trading are even more riskier and require huge amount to finance. I have someone who wanted to introduce me to forex some while ago but i lost interest when he told me i need a $100 start up capital which is a huge amount in my country, where would i get such amount from but in gambling with an amount as little as $5 - $10 you can finance a person in gambling.

I don’t see it as been used, if he trusts the person not to lie to him about it ending as a loss after he actually won just to runaway with the winning amount. I have seen people run such a thing on multiple occasions and they usually don’t have any problem with one another. Before you engage in this kind of deals you just need to trust the person so much or you have to have understanding about gambling and be present while he stakes the money so you will know the potential amount to win and also on your end you need to follow up the games so he doesn’t lie to you about any of the games.

I have also done this a couple of times without any problem and if someone comes to me to finance them in gambling in exchange for a portion of the winning i will do so if i trust the person but also i will tell them to make use of my gambling account to stake the games.