Topic: Give Him a loan Or Partner With Him (Read 724 times)

So we decided that all of his friends and relatives just give him money so he can start his own business and encourage him to just focus on his new store and not go back to gambling to recover his losses it would be bad for his health if he pressure himself to go back to gambling full time.
A common friend will accompany him in case he wants to bet on horse racing and monitor him so he will not bet excessively to the point of using money coming from his little business, with this I'm locking this thread 

In both cases things can get difficult, firstly because a loan makes you commit to a deal where the friend who has to pay cannot be found, so that it can be considered as something faithful and that can be completed, be sure to do it. Transact with that friend so that both can benefit, a loan must be fully fulfilled at least with the payments, because there are people who are very sensitive about money, they are even capable of leaving a friendship of years for that reason, we as good friends , we must be careful when lending, because not only the financial part can be compromised, but everything related to reputation, friendship and good treatment can also be compromised, we can play with that option, so always It's good to have clear clues, where I live there is a very nice saying, "Clear clues, keep friendships" is a very wise saying that applies to any situation, especially when it comes to money.

Now when it comes to how to make associations with respect to any business, that is another thing that must be very careful, because if there is one of the two who is not a person who wants to invest, but rather make profits to spend them, it is not the right choice either. idea, we must see very well that when we get involved or associate with someone, our duties are also that we must preserve and try to increase our capital, that is basically what we must manage and do well, in a society we as beunas Perimeor people we must have things very clear, so as not to spend money, and secondly to fully comply with the business that is being carried out, it is very easy to spend the profits of any business, but it is very difficult to maintain a business, usually for Although a business with good money has to establish goals, and due to the demand for an ROI, it is almost always true that in the first 3 years you do not see any profits, until later.

If you are kind hearted person,mostly you may give the loan.As like your opinion many people don’t give money for drugs and gambling.Because both drugs and gambling won’t help their family for the food.So many people doesn’t give their money for gambling,if you are in medical emergency the helping hand will be more.The person who get addicted should not get loan for the gambling ,because the addict person can’t win in the match Because of their emotion involved in the betting,The emotion can be reduce by the continues practice for gambling addicts.

it's better to ask. some people borrow money. especially if the money is for gambling how does he return it if he loses? it's your money. I'm sure even rich people need money. then you can't just lend it out. even after he lost his fortune how can we believe they will come back just because we lent him money?

Honest advice. Do not give him any amount of money. First things first, if you give him money, you're not actually helping him. If you are truly his friend, you will help him in a better way without involving or having to use betting. Second, he used to be good at horse racing, it's all in the past. No one knows what will happen if he goes back to betting. Help him in another way, don't be the one to sponsor his desire to go back in gambling.

Don't give out the amount of money you cannot afford to loose, be it in gambling or lending.

Know that you're taking a risk of giving him and at the same time risking the benefits of doubt in him

What makes him think he can win this second time after woefully loosing the first time

If you think you have the money and it's not going to affect you then give him.

If we can take good observation of the above advise on gambling, we will learn to minimize risk and avoid facing ugly consequences at the cause of lending money in gambling.

I agreed to tell him about available jobs so he could apply and earn some money. Later, the money can be used for whatever he wants. I didn't want to lend him money to gamble because I knew he might get into trouble where he couldn't pay back the money he borrowed.

I don't want that to happen to me, especially since I have to adjust my financial position if I lend him money. And that would hurt my financial position. If it is for gambling, the money that will be used may not come back, let alone get a lot of money from gambling.

Although winning will be a priority for gamblers, they must also know that they have the potential to experience losses and even big losses. If they borrow money, they won't be able to pay it back if they lose. We don't want that to happen. Instead of having problems in our friendship, it's better not to lend him money and ask him not to gamble. But if he doesn't want to accept our advice, it's not our fault because we just don't want him to get into trouble for gambling. The situation will become complicated later, especially when we ask for the money back because we have a sudden need and he cannot return the money. It will make us feel uncomfortable.

I quite agree with this one. Probably it's the fact that he lost his fortune to gambling that may have made him to lose control of his emotions and may have led him to drinking or even other vices that may have prompted the operation. He's still recovering, and loaning him an amount so he can go back to what may have led him to the operation room in the first place is like giving a diabetic chocolate.
Just like you have stated, it's best to give him an amount that I know I'd not need to worry about; that way he won't have to be pressured to make stupid decisions just so he can meet up payments. But then again, if he is a chronic gambler, that money might get lost and he'd need to collect another loan, thereby piling more debts.

There are really people who would really be that kind of supportive when it comes their friends specially close ones on which they dont really mind on those amounts as long they would really be able to show up some
support to those people who are important to them which i could say that its something that other people could really do on some extent but there are ones who would really be mindful that much of their money.
Even if they do have that amount but still trying out to ignore and tell that they dont have money but of course i couldn't really blame them on, considering that earning money is never been easy and just simply give it out on a friend who had been having that addiction problems or something that do talks about involvement with gambling then it is really that hard for you to believe on that they could really be able to pay in due time.
If you are a type of friend who doesnt really care that much and give out importance on your friendship then it would really be on someones decisions whether they will really be deciding on granting him a loan
and wont really be putting up some due terms or not. It would really be entirely be depending on you since not all would really be that mindful about their money as long they do able to help their friend
which i dont see anything wrong on this though.

If he is a very close friend and I trust him, I can give him a small amount of money to bet that is not important to me.This may not be a big loss for me, but if I have a good history with him in terms of friendship, I can say that it is a chance for me to reinforce it.I tell him that even if you lose, it is not important to him and I forget about it.I want to try my luck in such matters, but the important thing is how much money I can risk by giving it to my friend.

Giving him money when you know that he wants to gamble with it shows that you are ready to let go of the money because he might end up not paying back. If you are the type that is hoping to get back the loan when he promise paying back,it means you are thge cause of any problem that occurs. I would't give a loan out to a gambler as long as i know that he wants to gamble,especially those gamblers that take gambling as a full time job just like what OP mentioned,because it is like you are throwing your money away. This is because there is no assurance that my friend will win as hse believes,sinve gambling is a game of luck and not only about skill.

If you will lend him money to gamble again, it's like you're supporting him to make wrong decisions again. It's better to advise him to look for a regular and decent source of income rather than borrowing funds to gamble again. He already experienced failure so he shouldn't rely too much on his luck because gambling is a risky thing and it's not a good idea to borrow funds to to bet.
Gamble only with the funds that you can't afford to lose and not with borrowed money that you won't have any assurance that you could pay it back in time. Better be sure than to take another risk where you would face consequences.

If a person is really good at sport betting then they will never lose all their money in it, it is that simple, and in that scenario we should never lend them any money as it is likely they are going to lose it too and then they will ask for even more money from you, as you have accepted already to lend them money once, and once you reject them regardless of the amount you lent them before they are going to form a grudge against you, and in that case you may as well reject them from the beginning as in that way you will at least save yourself from losing that money.

True that, it is very risky on the person who is giving a loan.  Since there is no assurance in gambling, no matter how good a person in sports betting is, there is always this tendency that he will lose the bet.  And since the friend has no source of income, we are only helping our friend to buried himself in debt.  Partnering seems the lesser evil but it is like consenting him to not focus on getting a job or fixing himself to have a regular source of fund.  It is better to give him the loan if it will be used to find himself a job or if he is sick, to recover from his illness and finding a job when he is all well.

First of all, I have no relevant knowledge about horse racing gambling, but I can make an analogy with other types of betting. for example, football betting. in essence, in any betting or gambling, there is no guarantee that we will have 100% winnings in the betting session. whether it's horse racing, or other bets, even football, which I really understand.

Tell a little story, I know football betting, not only related to the odds provided by the bookies. but more than that, I studied how the system that was implemented worked, what patterns they used, how when a mediocre team made a strategy looking for ways to prevent against a strong team. all of that is in my scenario, when researching and analyzing the team that will compete.
Well, it seems that in horse racing betting too, we will learn which horses are good, have the potential to win, and all sorts of things. but because your question is not related to the technicalities of betting, but more about Give Him a loan Or Partner With Him.

Honestly, I can't answer that for sure. because so far, I have never experienced this kind of situation. It's just that, how wise it would be, I could lend it to someone if it concerns basic needs. for gambling, I'm not interested in partnering. or maybe, I could just give him some money. If he is really good at betting, he can start from small things to become big. after that, it's up to him whatever he does.

I'm more confident on giving a loan to the people I know because I already know their personality. I think you should know them too. So if you think that the close people that you know are not likely to pay back, why will you still lend them a money? If ever you already did and they didn't pay back on the agreement date, you can always inform their parents or partners. I'm sure they are the ones who will pay you.

It's also best to give a loan for a more important needs and not in gambling because you are right, that it's hard to win on it, and we are only helping them to become more devastated. If they have a job or a money of their own, they can gamble whatever they want but it will still be better if they have a control of their selves, as working is not a joke. To become addicted in gambling is also hard.

I think that would be the last thing that any reasonable person would do because there is never a certainty to someone who is a gambler actually paying you back the funds which you borrowed him and I can only do that when I know that he or she has a reputable means of paying back the funds. Gambling with borrowed money is never the best choice and hoping you can pay back through that means actually makes it worst because with no doubt for sure you might end up being in more depts.

I like to give people the benefits of doubt. At least he was honest and being that he is my friend, my best course of action would be to first tell him how terrible the idea is but then if his mind is still made up to go ahead with it, I'll loan him the money. Only the amount that I know that I can afford to lose.

I don't think I would need to school him further on the risk involved. I'll give him the money, not all of it and certainly what I can afford to lose like I had already written and wish him all the good luck he'll ever need.

First of all it must be a risk because if you lose the games now then there may be money crunch or confusion within ourselves. I think one should not resort to loan for any gambling because losing in gambling will lead to financial crisis and may put a lot of pressure on you for loan which will damage your life. However, my best course of action is to search for a specific stable income source and then call him on that. However, partnership should not be used in terms of gambling because your partner may not accept the amount of loss.

This scene is like always the breaker of relationships especially with friendships and relatives. What you can do if you really want to help him, it's either don't give any amount at all or just give him some relatively amount which isn't that much and not a total loss for you if ever he won't pay.

In that sense, you're able to help him and you have also satisfied yourself of helping him. That's the choice that you can do but if you're okay lending him money knowing all of his backgrounds, that's your problem later on when he's got no money to pay you.