so the bottomline is? never borrow money if you are just gonna use it for gambling because the assurance is a little , and also if you will be honest to the person you are going to borrow? surely they will not lend you a penny (though there are some people or businesses that has lending for gambler but has collateral )
so never borrow to gamble thats the main point.
People usually ask us for collateral if we want to borrow money from them. Unless that person is someone we know closely, like a friend or relative. But very few people want to lend their money to other people, friends, or relatives to play gambling. They definitely won't want to give us their money to gamble. They already know the consequences or impacts that can occur if we use their money to gamble.
Yes man exactly, people who borrowed money to gamble they have different thought at that point when they are gambling, but on my observations I checked, I noticed that this gambling have one spirit that when lossing you will increase your stake to get back that money you have lost then when you start winning you rollover, and this rollover has caused much lost in gambling world.
It won't always work. When we are too eager to recover losses, we might lose because we forget to control ourselves and will keep trying to earn it. And if it's borrowed money, we won't remember having to pay it back. After playing gambling, we only know that all the money is gone and we must return the loan money. It is our responsibility as borrowers and the person who lent the money doesn't want to know how we can return the money.
Is the person out of his mind??? That's unthinkable to me, how would I stoop so low to the point of borrowing money to gamble? That's a high level of irresponsibility, and no amount of financial desperation should have triggered that if the person is with his right sense. Gambling with your money is risky, talkless of gambling with loaned money. Meaning that there are further obligations to pay more interest on the borrowed funds after you must have lost the money in which the probability that you will lose it is very higher. That is senseless!
But in real life, some people borrow money to gamble because they think gambling is a fast way to make money. And they are used to borrowing money from other people to gamble because they can find people willing to lend money. People who borrow money from others only think about gambling because that's all they can do. They could use the money to do something else, like set up a small business to make a profit.