Topic: Gambling experience using loan money - page 21. (Read 2231 times)

Borrowing is fine as long as you can pay for it but if you are going to borrow and fully depend on the possible income that you can get in gambling then that’s too risky since gambling profit is not guaranteed and you might lose the money you borrow so it’s not advisable. I’ve done this before and I lose the money fortunately, I still have the funds to repay my debt. I agree that being responsible is the key, this is gambling and you should gamble based on your financial capacity.

The loan guy should not had any other loan on their current state,because the loan is like the spider web.It will kill you at the time of emergency,Since you owe some people you can't get any other loan.If you are free from the loan,you can use the opportunity to get loan at the emergency.The second one is the amount of money you are going to take loan to satisfy the gambling bet.If you get addicted to the gambling,you will keep take the loan again and again.Then you get into big trouble like big loan burden and it will back you 5-10 year backward.

So it's better to avoid loan and do gambling,you can gamble using the income you get on the monthly basis.Because income is the money you get regular and you can't affected by using the income,but your loan will make into trouble ometime.

One thing is with this borrowed money you are definitely bent on winning and this already exerts pressure on you because at this time your state of mind has actually be tempered with and your reason will not be right again which will most likely lead you to making rash decisions. Even if you later win little amount you will not want to back down but instead will want to win more since there is also interest added to the loan. Should you be losing you will still continue since you would want to recover all your money. So I don’t think that the care freedom associated with gambling with your own money will be there and that will actually take the fun way from it.

Very wird way of gambling,  because when gambling with borrowed money you are already under pressure to payback that loan and that could impact your gambling activity negatively just as you said in your first comment,  taking a loan to gamble is the most stupid thing to do as a gambler because gambling is a high-risk venture and the results are highly unpredictable which is why,  it is better not to gamble to earn money but only gamble with the amount you can afford to lose.

But a loan is not an amount one can afford to lose,  since you will have to pay it back at some point,  so ultimately taking a loan to gamble is not sensible enough.

Ops may not or have just made an assumption on the reason why users seek loans,  as you rightly said,  ops should stop assuming things.

You can take a loan to start up a business, sponsor a project but not for gambling, I repeat not for gambling it's wreckless, stupid and a broad lane to indebtedness.

Gambling is not 100% sure that a win will be made and for something that's with no hundred percent assurance there should be a limit to certain risks we take towards it especially that of taking loan money for gambling purpose.

For anyone to take loan money just to use it to gamble then it's a conspicuous sign of gambling addiction.

Depends on the situation of the loaner.  If the person who loan has enough amount to cover the payment and the interest, I do not think he will be pressured while using the amount of money borrowed to gambling.  Aside from that, when the loan due is months away, I also think that there will be no pressure or whatsoever when on the gambler's part.  Pressure comes when the time for payment is getting near.

Did you see them actually deposit that loan money to their gambling accounts? That's a good thing to do where everyone gets the idea that money is just going to lose entirely. But to each their own, as that's their money and that's the loan that they shall pay. Even though everyone should be wise on how to use their money and up to the point that they're going to take a loan, they're just adding pressure on themselves that it should be spent wisely. There could be reasons behind that, one is that they're totally addicted at all and no one can stop them. They know the consequences that actions may bring to them and they will be one to suffer it eventually. Once this mistake has been done and they saw how terrible it was, they may not do it again.

Gambling with credit money is unwise and dangerous behaviour.
Credit money is a debt that needs to be paid back. If a gambler loses this money in gambling, he or she may find that there is not enough money to pay back the debt. This in turn will lead to serious financial problems.

Being responsible with your finances is key, regardless of whether you borrow or not. If you decide to take out a loan and engage in gambling or other activities, always have a well-thought-out plan to ensure you can repay the loan. Whether you use the money for trading, casino visits, or necessities like food, remember that timely repayment is crucial to maintain financial stability and avoid unnecessary stress. It's wise to balance your entertainment and financial goals and never gamble with funds you cannot afford to pay back.

That phrase "so sure would moon" caught my attention because that has been the reason people will borrow money to go for it. They fear they will lose the opportunity if they don't play the lucky dip, they see it as opportunity to get rich and that will lead them into borrowing with the hope that once they stake the game the next thing will be cash out, it never happens that way. If gambling or any other sources of getting money was easy then money would have just been littered on the road. People get into depression when things like this happens especially if you are are trusted person among your friends, you don't have face to stay with them again if you can't repay the debt. This is unfortunate and we need to know that as we are gambling, we don't have to be unreasonable and give the, if it doesn't happen a thought also

That’s what I haven’t done before, and I don’t even want to try it, why will I take a loan to gamble, I don’t have other things to with the loan I took, the only thing that will come to my mind is gambling, that’s completely wrong to me.

Let’s just make assumptions but am sure the assumption can’t be real, if I can take loan to gamble, then am going to lose all the money because their will be pressure on me when gambling, I won’t even be settled to place my bet, because any small mistake then the money is gone already, so it will be left for me to look for a way to pay back the loan which I took, that’s why I don’t even think about talking loan to gambling.

Some people are always having confidence that they are going to win that’s why they are always doing that, and am sure some people can gamble under pressure, but to be honest I can’t gamble under pressure, if am doing that am definitely going to lose that’s why I can’t even take that risk.

You can’t take loan without having any risk, it’s not even about the interest which is on the loan, the main issue is that what if you lose how will you be able to pay back the loan, but some people are always having job, so even if they lose they will still be able to pay back the loan.

Their is no evidence to proof that some many of the high rank people are using loan the collected for gambling, they already know that gambling is a risks and none of them will like to gambling with loan money, any member who cross full member rank have already gotten good experience in forum and also in gambling, so I believe that gambling is all about luck and its not what somebody will use it borrowed money to do, knowing that it will be hard before luck of gambling come on its paths, I don't know exactly what people think of gambling because myself I can't advice somebody to use a loan money to gamble

To be honest, i have never done a loan to gamble, especially in the community. however, we have past experience regarding this thread. I once borrowed money, in my local currency to gamble. I remember, at that time I was still playing in a land casino. the money I borrowed, of course, with a guarantee. for example, vehicles, or other valuables with fairly high interest.

Related to your question, both online loans and like my personal experience. after all, it's the same, essentially we borrow money to gamble. basically, it all depends on the individual gambler. there are many gamblers who are confident that he will win his bet and even return the loan money right away. there are also those who experience pressure, usually they will be more careful when doing game sessions. from the two examples I said, I've experienced it. but usually, the pressure comes when our balance is running low or will end in defeat. pressure like this, would make most gamblers nervous. because he knows that the money he borrows according to the agreed agreement must be paid on time.
Here I just want to remind you, never make it a habit to borrow money to gamble, even if you are a gambler who is an expert in his field. it would be nice, if you don't have the finances to make a bet. better, do other activities that can break our focus.

Some people in the forum use their gambling accounts as some form of hot-wallet to send funds and easily transfer it for use cause withdrawal and conversion is easy and streamlined for one, so just cause these people are sending money through their gambling accounts doesn't necessarily mean they'd use it for gambling, although it would make sense in the grand scheme of things if they were to use the loaned cash for gambling purposes so I understood your line of thinking. Anyhow, I don't condone taking up a loan for gambling, that's one of the worst ways to shoot yourself in the foot cause not only are you losing money once, you lose it twice.

When you take up a loan, you're stealing money from your future self. That's already one good reason why you shouldn't take up a loan in the first place, now, when you use that money to gamble it's a way worse thing cause now not only are you stealing money from yourself, you're also burning it without a worry. So don't take up a loan guys, at the very least you'd end up with an empty pocket that can't be filled easily cause you'd have to pay the one you're indebted with, worst you might get into bigger trouble especially if you took up loans from shady dealings.

Using loans for gambling should be discouraged because at the end of the day you will loss all that money in gambling. Your mind will not be settled as you will be on pressure and might not be calculate properly because all your mind is to win and pay back your loan. Never take gambling as a means to make profit so that you don't get depressed when you loss.

Addiction is what will make you take a loan and gamble with it because you don't have self-control over your gambling activities. This is why one should set aside a weekly budget for gambling so that the moment your budget is over,you should quit gambling and wait till you have another funds to gamble.

The best policy is just don't do it.  If you are that desperate for money to gamble, then you're doing something you shouldn't be doing, it's really that plain and simple.  This is where people become degons and wreck their lives.  I know of a forum member who borrowed funds from other friends on the forum, a lot of funds, and ended up losing a massive amount on a coin he was "so sure would moon" that he ended up just "running away" and screwing over his friends. 

Just don't do it.

just yesterday I talked about something similar, I said that gambling do not give guaranteed profit, nobody is absolutely sure that at the end of the day there will be consecutive victories to the point that even if there is a defeat it will come out with a profit, this we can give an example of what even if a person was placing sports bets and was only betting on games with low odds, something like games with odds below @150, if that person were to hit 10 games he would be in profit, but it would be enough for him to lose in 10 games for that person to have losses, and if that person keeps betting on games with odds of @125 the situation will be worse for him

so there is no advantage in asking for a loan to play gambling knowing that the interest is high and gambling do not give a guaranteed profit, even if the loan amount is something very low it still does not pay off, like most people they keep saying, gambling should be seen as fun, so people should only use money that they can afford to lose, with that thought we come to the conclusion that first the person needs to pay bills and then the person can take the money what's left and what's destined to play, because that person knows that even if he loses that money he won't miss it

I'm not aware of high ranked members on this forum borrowing money to gamble and I think it's really unlikely to be happening, because if it were, other high ranked members would have already placed a lot of red flags on their profiles due to the reason they are borrowing money, as it means there are huge risks for the lender to not receive his money back with interest paid (scam). Also, nobody would lend money to someone with the gambling purpose. That would be insanity, unless there is a very good collateral involved on the negotiation...

I have no experience with this. but I can say this is high risky so It is better not to try to gamble with debt. a person is interested in taking a loan only when he has no accumulated money and is in a great danger. If you borrow, you must pay interest with the loan amount. so it's already a lot of trouble.  And if one gambles and loses that money, it becomes a huge challenge for him to repay the loan. So I don't think gambling with loan money can be any good experience

Please can you interpret this to me because probably I am the one who misunderstood the op. 👇
From the above statement, the op has seen a thread of a high rank user who used loan to gamble and I have not seen such thread from a high rank user and that is why I asked him to the link, though privacy is important in the forum, but this is a statement someone made in the forum, so he can display it.