Topic: Never borrow money to be able to gamble - page 24. (Read 2701 times)

It should be do not spend more money than you can afford to lose

You can further explain that the budget should be of small amount of money like 1% of your weekly income which is advised. I use around 2 to 5% of my weekly income which has no bad effect on my financial life.

If every gambler on earth had followed all of these tips, then there would have been no addicted gamblers, and there would also be fewer people who caused issues for themselves after losing money that was not theirs in gambling. 

Just some days ago, a user on this forum was talking about his friend who took a loan of about $2k and used the money to gamble, which was lost, and yet he is still gambling, trying to repay his debt from gambling. 

Well, at OP, this same topic has been discussed not only twice on this board, but we will still have cases like those losing self control and gambling with loaned money.

For too many reasons it is foolish to borrow money to gamble. I don’t like borrow money and even when I do, I can’t risk it because you may try to be smart to double it and you end up giving the money to the casino like it’s charity and you will still have to pay up for money you never used to achieve anything meaningful. Gambling should be done out of your pocket and an amount you can afford to lose.

Addicted gamblers know these things but still want to just go ahead and borrow money to gamble because some are unable to control themselves, and whenever the urge for gambling comes, they do not mind how they get the money to gamble; they just want the money to gamble.

Do not lend money to your friends who you know want to borrow money to gamble with; if you do so, you are promoting the bad habit that they are forming.

You can call it wishful thinking, but I like to assume most gamblers out there in the planet are responsible enough so they are aware gambling with money do not actually own is a bad idea and it will ever be a bad one.
I have seen a couple of instances here in the forum in wish we could meet people who had gone reckless enough for them to ask money to the bank and lose it to the casino in the same day, they came here and shared their story as a cautionary tale.

Anyways, this thread is about information which is supposed to be common sense for anyone who partakes in gambling and betting in general, it is just a reminder. It would be more effective for anyone going through gambling addiction of we could share to them some advice and stories of people who went into debt but managed to rise up the ashes and recover from it.

It's a given thing, I guess. But to elaborate you can't borrow money and use it in gambling simply because winning will never be certain. Imagine losing all of it and still be needing to pay it, would you be fine? Never put yourself in a situation that you wouldn't want to. If you already have the urge to borrow for the sake of being able to gamble, there's a big problem going on. That simply means you're too hooked up with the idea that gambling will make any significant change in your life. Always manage the risk as much as possible.

Keep in mind that many people are only using a portion of their salary to avoid worse situations which is to ened up with nothing because of this activity. It would be much better to anticipate that losing is more likely to happen than you winning. If it's not your day then accept it. If you don't have money to gamble then accept it. Gambling is a game of luck and luck on the other hand is not something we have control of.

First remember that you have to play with common sense and responsibility, to make sure that the game is always an entertainment. Knowing this won't make you go to the extreme of borrowing money to gamble. And you have to know the golden rules of gambling. Which are!

(1) DON'T FORGET IF YOU PLAY YOU CAN ALSO LOSE

(2)FOR YOU, GAMING MUST ONLY BE A HEALTHY FOR ENTERTAINMENT.

(3) DON'T SPEND MORE MONEY THAN YOU CAN AFFORD

(4) DO NOT GAMBLE TO WIN BACK MONEY THAT YOU HAVE ALREADY LOST BY GAMBLING.

(5) DON'T LET GAMBLING INTERFERE WITH YOUR WORK OR WITH YOUR DAILY RESPONSIBILITIES.

(6) REMEMBER THAT GAMBLING IS NOT THE IMPORTANT THING IN YOUR LIFE. DON'T LET GAMBLING AFFECT YOUR FAMILY LIFE OR YOUR RESPONSIBILITY.

(7) SET YOURSELF A BUDGET AND DON'T EXCEED IT.

Why I brought this topic it's because so many people are still paying debt, why? Because they went ahead of borrowing money just to gamble and by the end of the day, they lose it all.  I know of a friend who is still battling to pay of his debt while he used the money on gambling. Is it proper no. What are the main points of gambling?
(1) CONSIDERATION
(2) ANY AMOUNT WAGERED.
(3) RISK (4) CHANCE AND A PRICE.

With you knowing this elements, you won't bother to go to the extreme of borrowing money to gamble. So have you borrowed money to gamble? If you do please take notes of this and stop it.