Loaning money for gambling sometimes not bad but…

Coin_trader

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Quote from: danherbias07 on December 05, 2023, 01:08:00 AM

Lucky! Congratulations bro. Not everyone will have the same ending as yours so yes, I agree that borrowing money should not be recommended to anyone in the gambling industry.
Man, that may have been feeling pretty good for you because you can just cash it out pay the loan, and then you got back what was lost. I mean, for me, if I hit such a good lucky streak I am out or I will just cover that wagering requirement that is needed and run as fast as I can when it's done. Grin

I’m already halfway through my wagering requirements for the 150$ Christmas promo reward when I’m already up by 700$ on my bankroll. I manage to complete the wagering requirements with 70$ which means I still earn additional 80$ from the promotion.

I was tempted that time to not finish the promo since I’m already up more than the potential win but I decided to still complete the challenge because that’s the purpose of playing and to avoid thinking more about it when I’m done. I withdraw immediately right after I get the reward.

I’m not usually getting loan for gambling but this time is different since Duelbits offer is very good while my crypto funds is not available right now.

This thread is just for fun so I will now lock.

Oasisman

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Quote from: Coin_trader on December 04, 2023, 11:03:37 PM

PS: I’m not telling that everyone should loan and gamble just to follow my step. I’m just sharing that sometimes loan money that use to gamble have good result. FYI, I have money on fiat to cover the loan immediately in case I lose everything. DON’T LOAN MONEY IF YOU CAN’T AFFORD TO PAY IT BEFORE THE DUE DATE.

It is inevitable if someone gets interested in such idea, but It's perfectly fine as long as the loaned amount is something payable off a small portion of your monthly salary. However, one thing to remember is, to be responsible in paying the loan on time, so that means you already have two major responsibilities right there. First is to pay the loan and 2nd is to try not to lose that loaned amount. Not an easy decision, but it is what it is, we all have to take the risks otherwise we'll not gonna move forward or at least learn from it, that life in general LOL. The keyword here is to be responsible.
Congrats for the win anyway. I wouldn't tell not to take loans for gambling because It looks like your the type of person who is responsible enough to justify what's excessive and what's not.

Nheer

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Op, although you might be lucky this time but you should try to avoid taking chances with loan amounts. What would you have done to repay Shasan if you hadn't won the game? Do you have an alternative?

People on this site are constantly reminded of the risks associated with borrowing money to gambling, but apparently not everyone follows this advise. In fact, some people may choose to disregard the warnings even in the face of our best efforts to enlighten them.

It is not a smart idea to start something that has a 50/50 probability of success with a loan because gambling is an extremely risky investment and the possibilities of winning are entirely dependent on luck. We should think about losing as much as winning. If you lose the money, what are your plans? How are you going to repay your loan? To prevent needless stress when trying to pay off your debt, you should only gamble with money you can afford to lose.

xLays

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Quote from: Coin_trader on December 04, 2023, 11:03:37 PM

PS: I’m not telling that everyone should loan and gamble just to follow my step. I’m just sharing that sometimes loan money that use to gamble have good result. FYI, I have money on fiat to cover the loan immediately in case I lose everything. DON’T LOAN MONEY IF YOU CAN’T AFFORD TO PAY IT BEFORE THE DUE DATE.

I had previously attempted a similar approach in a different scenario, focusing on guaranteed profits through hedge betting. I tried to ask for a loan to hedge my parlay, but luckily no one granted me the loan since all of my parlays hit. So, just in case someone had lent me the money, the hedge fund would have resulted in a loss.

danherbias07

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Lucky! Congratulations bro. Not everyone will have the same ending as yours so yes, I agree that borrowing money should not be recommended to anyone in the gambling industry.
Man, that may have been feeling pretty good for you because you can just cash it out pay the loan, and then you got back what was lost. I mean, for me, if I hit such a good lucky streak I am out or I will just cover that wagering requirement that is needed and run as fast as I can when it's done. Grin

Control and discipline, we need that after a lucky win. If there's a loan that needs to be paid then pay it first, leave some balance in the gambling site, and then maybe try to build from it. But once it is gone, I won't jeopardize my profits by depositing again because luck sometimes doesn't strike on the same day, the higher chance is for the casino to take it back afterward and we don't want to be in that same position again where we chase our losses.

Oshosondy

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Gamble responsibly

What I think more is that loan should never be taken to gamble, there is no good reason to take a loan to gamble than a sign of addiction. When I was addicted, I did took loan several times. But unlike now, I gamble with just little amount of money, not to talk of loan. Even if I am very capable to pay back the loan, I can not borrow money to gamble. Gambling is fun without borrowing any money. Without borrowing, your mind will more help you to take the right decision while gambling and it will be more fun.

Fiatless

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Quote from: Coin_trader on December 04, 2023, 11:03:37 PM

PS: I’m not telling that everyone should loan and gamble just to follow my step. I’m just sharing that sometimes loan money that use to gamble have good result. FYI, I have money on fiat to cover the loan immediately in case I lose everything. DON’T LOAN MONEY IF YOU CAN’T AFFORD TO PAY IT BEFORE THE DUE DATE.

The beautiful thing about your story or experience was that you balanced it up. Many people take loans to gamble and just like you, they are lucky to win and make money from it. Others have also failed to win and ended up in debt. But your case is quite different because you have the money to repay the loan in case you lose the bet. Some people don't have such backup so they end up frustrated and sometimes depressed.

However, this behaviour of borrowing to fund gambling shouldn't be consistent because it could lead to addiction and debt. Occasionally one can decide to take loans to fund a gambling budget but there should be some restraints. I am also sceptical about spreading this kind of information because gamble newbies might misunderstand it which could affect their finances negatively. These new gamblers might not be able to control this kind of behaviour and end up incurring large debt because of gambling. However, congratulations on your win.

rodskee

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I will not risk that much even I wanted to participate in Duelbits.com but risking loan money
will not be in my decision to make but since I still have some gambling money then i am ready to try my luck like yours .

Quote from: Coin_trader on December 04, 2023, 11:03:37 PM

FYI, I have money on fiat to cover the loan immediately in case I lose everything. DON’T LOAN MONEY IF YOU CAN’T AFFORD TO PAY IT BEFORE THE DUE DATE.[/b]

its good that turns into winning , and having that back up amount seems to be not really a
loaned you gambled but instead a temporary funds in case you did not win Grin

You have a Good heart to be Gambler mate Cool

bitterguy28

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Quote from: Coin_trader on December 04, 2023, 11:03:37 PM

While i want to fully congratulate you for winning that good and also have your target ticket to be part of Duebits event this christmas season yet I may not agree of loaning money to gamble , though this is not in your type to have no funds or expected money repaying the loan because you have a good reputation here and in Local section so i am sure that even you loaned that money to gamble yet there is a sure incoming money for you if ever not winning this game and ending losing that said deposit.

Quote

PS: I’m not telling that everyone should loan and gamble just to follow my step. I’m just sharing that sometimes loan money that use to gamble have good result. FYI, I have money on fiat to cover the loan immediately in case I lose everything. DON’T LOAN MONEY IF YOU CAN’T AFFORD TO PAY IT BEFORE THE DUE DATE.

Good to see that you extend this message here mate because I know that you just wanted us to celebrate with you as your decision turns Win Win favoring you and of course shasan for the loan granted and the interest Wink

yet you advise people that this is not a good way to partake in gambling using Load money.

Congratulations Kabayan and Hope that you will also Win In the ender of the event ..this is something that gambling should be celebrated as it is rarely to happen.

Assface16678

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Well, you do have a point, but thankfully you indicated in your topic the reminder about loaning without the means to pay for it before it's due. Although you win this time using the money you have loaned, it doesn't mean that this happening will also happen to others, because even if you say to follow your steps, we never know if the odds will still be in our hands. In short, maybe at that time your strategy works, but it will not happen all the time. So everyone that will read this topic, even if it's not a bad idea to loan money to be used in gambling, just make sure that you are ready for any consequences that you may face if things go wrong. Remember, gambling is a battle between win and lose, and you will be on either side; you will be on the winning side or the losing side, which we don't want to end up losing and suffering from the consequences.

shasan

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Taking loan to gamble and will return by winning cant be perfect always. There must have a way to return the fund if loss in the gamble. There is a cuance of lossing fund so there must have alternative way. I never encourage in gambling hence I d8scourage people not to take part on gamblibg by taking a loan. Becaise anytime anything may happen. But if you have alternative way to recover then nothing to say.

Coin_trader

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Today I loan to @shasan worth 500$ to complete the daily challenge on Duelbits Christmas promotion that offers 30% deposit bonus when I wager the full amount of my deposit.

I’m just playing slow on Money Train 3 by Relax Gaming since I just want to get the daily tickets for the grand draw and recover partial of my loss using 30% bonus. The game becomes intense when I hit the 200 spin mark which I enter the bonus round with persistent collector.

I manage to get approximately x1900 multiplier bet with 0.3$ bet and a 150$ right after that which I forgot to get the ss. In the end, I manage to take net profit 700$ excluding the repayment for the loan. Cool

PS: I’m not telling that everyone should loan and gamble just to follow my step. I’m just sharing that sometimes loan money that use to gamble have good result. FYI, I have money on fiat to cover the loan immediately in case I lose everything. DON’T LOAN MONEY IF YOU CAN’T AFFORD TO PAY IT BEFORE THE DUE DATE.

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