Pay off DEBT by do Gambling? think again before you loss more

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Quote from: Doan9269 on September 30, 2024, 04:23:42 PM

Paying off debit from gambling is not a good idea, this is not because there is no possibility in achieving something from it, but instead, the chances are small, its more easy to loose than to win in gambling and this should be the first thing so many of us have to put in mind towards gambling, not that we begin to assume for the expectation of paying our debt through gambling which we are not always sure of it outcome.

A sensible person can never think of doing something like that because he would know it's not worth it as you can get in more trouble while trying to get out of trouble which doesn't make any sense. You can't put yourself in more trouble to get out of the trouble you are already in, you need to think of a proper solution for the problem, shortcuts won't cut it all the time and only the luckiest people manage to get things done using shortcuts.

If you have $10,000, and your debt is $50,000, you should try to start a small business or something, maybe buy and resell stuff to earn a profit on top, and over time, save money to repay the debt. It is better than gambling the money away. You can always ask the person to give you more time as you are preparing the funds for him. Most people would agree if they see progress, you can pay him some money first and then ask for an extension.

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Paying off debit from gambling is not a good idea, this is not because there is no possibility in achieving something from it, but instead, the chances are small, its more easy to loose than to win in gambling and this should be the first thing so many of us have to put in mind towards gambling, not that we begin to assume for the expectation of paying our debt through gambling which we are not always sure of it outcome.

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Quote from: Jaycoinz on September 30, 2024, 04:04:05 PM

This mentality is actually a trap that and it can put you in a lot of frustrating situations. I have a college thats into gambling and he does it actively, I don't have a problem with this, my problem is the fact that he borrows money to gamble. he found himself in a lot of debts and he couldn't clear them.He was focused on clearing his debts through gambling and the more he did it the more the problem increased, his loans kept on compounding. Trying to pay off debts with gambling will only make you lose more

Borrowing to gamble will only create new problems, because gambling will also not yield a certain income,
but the payment of debt installments and interest will always be active and must be paid on time.

It becomes a more complex problem if the loan is not paid and the interest will increase.
Gambling just to pay off debts, it is a situation that no one really wants.

Gambling will not continue to be lucky, while you need regular income to pay the debt.

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Quote from: Ludmilla_rose1995 on January 30, 2024, 05:58:07 PM

I have a hanging out friend who is having trouble paying his house installments, he wanted to borrow money from me but I didn't give it to him because I didn't have the amount he was borrowing at that time, I advised him to borrow from another friend but their answer was still the same, finally, he was a little desperate and with the little money he had he put the money into the online slot application, unfortunately, instead of succeeding in doubling his money, he lost all his money because he lost in the online slot application

The valuable message that can be taken from my friend above is never take risks to gamble to pay off your debts, the pressure is very big, the chance is very small that you can pay off your debts, often you end up losing even more and losing your money. look for loans, sell your valuables or look for part-time work to pay off your debts, is a good way rather than playing the small money you have in gambling

This mentality is actually a trap that and it can put you in a lot of frustrating situations. I have a college thats into gambling and he does it actively, I don't have a problem with this, my problem is the fact that he borrows money to gamble. he found himself in a lot of debts and he couldn't clear them.He was focused on clearing his debts through gambling and the more he did it the more the problem increased, his loans kept on compounding. Trying to pay off debts with gambling will only make you lose more

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Quote from: DubemIfedigbo001 on July 22, 2024, 06:08:59 AM

Quote from: Ludmilla_rose1995 on January 30, 2024, 05:58:07 PM

The valuable message that can be taken from my friend above is never take risks to gamble to pay off your debts, the pressure is very big, the chance is very small that you can pay off your debts, often you end up losing even more and losing your money. look for loans, sell your valuables or look for part-time work to pay off your debts, is a good way rather than playing the small money you have in gambling

This is the message people hardly hears when they are in pressure. Worse of it all, most of them knows the bad effects on engaging in gambling as a source of income, but the tend to bow to pressure and end up making the worst mistakes of their life.

Most times I attribute this act to laziness, both of the mind and body on the part of the gambler, the gambler in question has convinced himself that he wants to get the funds very easily and without much stress because judging from his funds raising patterns which is trying to get a loan from you and another friend before turning to gambling when the loaning was unsuccessful.

He has a lazy mindset normally and you must be glad you didn't lend him such funds, because I don't see him paying you back your money with his attitude.

From pressure to stress. Even if it's not a loaned amount, just our own money and we are chasing the losses, there's already pressure and stress there as we go mad about why we are not winning anything back.

Yes, it's definitely laziness. They don't want that tough way to pay the debt so they go to gambling. Sure, there are stories that successfully helped an individual revive his company or his business through gambling but the number of those people is too low that we should not mimic what they did. The better way is to pay off the debt slowly by means of a day job or anything that could make us money through hard work and effort and not by risking another money that is not even ours.

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Quote from: Hirose UK on May 30, 2024, 10:55:15 PM

Taking loan for gambling capital or gambling with the aim of winning to be able to pay off the loan is really ambiguous mindset, they will not be able to get results according to expectations in gambling, everything is risky and doing all that will only bring worse things.
A person must really work for sure and have business that can generate money consistently, this is the way person works in living life because whatever one does requires money, if have all of that then everything will be able to run easily.
No one can have decent life if they are only provided with loans and also without consistent income, they so they have to be active in work and business to make money and so can put it aside for fun.

in my country a phenomenon like this is happening, many young people who are addicted to online slots are taking out online loans with the aim of making a profit but the reality is different, they are actually losing more and more and are stuck with more and more debt, it is 100% true that to pay off debt, we have to make money through real work or real business.

Quote from: Hirose UK on May 30, 2024, 10:55:15 PM

But in the end, those who have lot of debt will always experience bankruptcy, especially if there is no source of income that can really be used to pay all the loans, maybe selling some properties will help but this will have big impact on survival.

selling the property we own is only temporary, slowly but surely it will run out and when there is nothing to sell anymore, the worst thing is to rob or commit other crimes to pay off debts.

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Quote from: Ludmilla_rose1995 on January 30, 2024, 05:58:07 PM

The valuable message that can be taken from my friend above is never take risks to gamble to pay off your debts, the pressure is very big, the chance is very small that you can pay off your debts, often you end up losing even more and losing your money. look for loans, sell your valuables or look for part-time work to pay off your debts, is a good way rather than playing the small money you have in gambling

This is the message people hardly hears when they are in pressure. Worse of it all, most of them knows the bad effects on engaging in gambling as a source of income, but the tend to bow to pressure and end up making the worst mistakes of their life.

Most times I attribute this act to laziness, both of the mind and body on the part of the gambler, the gambler in question has convinced himself that he wants to get the funds very easily and without much stress because judging from his funds raising patterns which is trying to get a loan from you and another friend before turning to gambling when the loaning was unsuccessful.

He has a lazy mindset normally and you must be glad you didn't lend him such funds, because I don't see him paying you back your money with his attitude.

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Quote from: Ludmilla_rose1995 on January 30, 2024, 05:58:07 PM

I have a hanging out friend who is having trouble paying his house installments, he wanted to borrow money from me but I didn't give it to him because I didn't have the amount he was borrowing at that time, I advised him to borrow from another friend but their answer was still the same, finally, he was a little desperate and with the little money he had he put the money into the online slot application, unfortunately, instead of succeeding in doubling his money, he lost all his money because he lost in the online slot application

The valuable message that can be taken from my friend above is never take risks to gamble to pay off your debts, the pressure is very big, the chance is very small that you can pay off your debts, often you end up losing even more and losing your money. look for loans, sell your valuables or look for part-time work to pay off your debts, is a good way rather than playing the small money you have in gambling

Having a plan to pay back money you borrowed from people through gambling is a terrible idea, it's only going to bring about more losses at the end of the day. No one should ever be trapped in the mindset of trying to payoff their debts with through gambling because you wont be in the right state of mind, hence this is going to affect the decisions you make when playing, those irrational decisions will make you lose all money, if you have the money to clear off your debts do so without hesitation and gamble with whatever you have left..
Cause if you lose all that money you will definitely borrow from somewhere else to clear off that debt which leads you into more debts

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Quote from: carlfebz2 on April 15, 2024, 09:59:27 AM

Quote from: leonair on March 11, 2024, 04:34:52 PM

Quote from: Ludmilla_rose1995 on January 30, 2024, 05:58:07 PM

~snip~

Taking up some loan for doing gambling? This is something the most dangerous situation or decision that you would really be making because you would really be risking on something which is really that could potentially destroy your life because of paying up your debt by doing gambling. Then you would really be making use of loan amounts to pay up your previous debt? What if that current loan of yours ended up
on still a lose? You would really be keeping on piling it up until you would be getting prisoned because of too much loan and cant pay it up.

On the time that you would really be losing up more, then what you would gonna do? Selling out your property? Selling your possessions or whatever you do have?
You would really be ended up something like this if you wont really be taking up responsible decisions with your life.

Taking loan for gambling capital or gambling with the aim of winning to be able to pay off the loan is really ambiguous mindset, they will not be able to get results according to expectations in gambling, everything is risky and doing all that will only bring worse things.
A person must really work for sure and have business that can generate money consistently, this is the way person works in living life because whatever one does requires money, if have all of that then everything will be able to run easily.
No one can have decent life if they are only provided with loans and also without consistent income, they so they have to be active in work and business to make money and so can put it aside for fun.

But in the end, those who have lot of debt will always experience bankruptcy, especially if there is no source of income that can really be used to pay all the loans, maybe selling some properties will help but this will have big impact on survival.

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Quote from: carlfebz2 on April 15, 2024, 09:59:27 AM

Quote from: leonair on March 11, 2024, 04:34:52 PM

Quote from: Ludmilla_rose1995 on January 30, 2024, 05:58:07 PM

I have a hanging out friend who is having trouble paying his house installments, he wanted to borrow money from me but I didn't give it to him because I didn't have the amount he was borrowing at that time, I advised him to borrow from another friend but their answer was still the same, finally, he was a little desperate and with the little money he had he put the money into the online slot application, unfortunately, instead of succeeding in doubling his money, he lost all his money because he lost in the online slot application

It was there bad luck. This is why you don't have to take a risk like gambling by taking a loan. Gambling is very risky and no one can make an accurate prediction here. No one has this power. Gambling must be kept at a level that the gambler can tolerate. A person takes the decision to take a loan only when he is addicted to gambling and always feels gambling. And if you don't gamble, it will make him feel empty. Then a gambler starts making decisions like taking a loan and gambling even if he has no money in his pocket

Taking up some loan for doing gambling? This is something the most dangerous situation or decision that you would really be making because you would really be risking on something which is really that could potentially destroy your life because of paying up your debt by doing gambling. Then you would really be making use of loan amounts to pay up your previous debt? What if that current loan of yours ended up
on still a lose? You would really be keeping on piling it up until you would be getting prisoned because of too much loan and cant pay it up.

On the time that you would really be losing up more, then what you would gonna do? Selling out your property? Selling your possessions or whatever you do have?
You would really be ended up something like this if you wont really be taking up responsible decisions with your life.

if a person can't pay his current loan and the only way he can think of is to borrow again to pay off the previous loan, he really won't be able to get out of that debt, the domino effect will happen because the cycle will go on unless he has something money that can be used to pay without having to borrow money, the last resort is to sell the property which is not a good idea but if there's really no choice, it seems that's what will happen, selling properties or things to raise more money for debt payments.

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Quote from: leonair on March 11, 2024, 04:34:52 PM

Quote from: Ludmilla_rose1995 on January 30, 2024, 05:58:07 PM

I have a hanging out friend who is having trouble paying his house installments, he wanted to borrow money from me but I didn't give it to him because I didn't have the amount he was borrowing at that time, I advised him to borrow from another friend but their answer was still the same, finally, he was a little desperate and with the little money he had he put the money into the online slot application, unfortunately, instead of succeeding in doubling his money, he lost all his money because he lost in the online slot application

It was there bad luck. This is why you don't have to take a risk like gambling by taking a loan. Gambling is very risky and no one can make an accurate prediction here. No one has this power. Gambling must be kept at a level that the gambler can tolerate. A person takes the decision to take a loan only when he is addicted to gambling and always feels gambling. And if you don't gamble, it will make him feel empty. Then a gambler starts making decisions like taking a loan and gambling even if he has no money in his pocket

Taking up some loan for doing gambling? This is something the most dangerous situation or decision that you would really be making because you would really be risking on something which is really that could potentially destroy your life because of paying up your debt by doing gambling. Then you would really be making use of loan amounts to pay up your previous debt? What if that current loan of yours ended up
on still a lose? You would really be keeping on piling it up until you would be getting prisoned because of too much loan and cant pay it up.

On the time that you would really be losing up more, then what you would gonna do? Selling out your property? Selling your possessions or whatever you do have?
You would really be ended up something like this if you wont really be taking up responsible decisions with your life.

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Quote from: leonair on March 11, 2024, 04:34:52 PM

Quote from: Ludmilla_rose1995 on January 30, 2024, 05:58:07 PM

~

It was there bad luck. This is why you don't have to take a risk like gambling by taking a loan. Gambling is very risky and no one can make an accurate prediction here. No one has this power.

People who make loans to gamble really don't have long-term thinking, they don't seem to be able to see beyond whether it's a good decision or not because I see quite a lot of people who are depressed about paying off their debts

Quote from: leonair on March 11, 2024, 04:34:52 PM

Gambling must be kept at a level that the gambler can tolerate. A person takes the decision to take a loan only when he is addicted to gambling and always feels gambling. And if you don't gamble, it will make him feel empty. Then a gambler starts making decisions like taking a loan and gambling even if he has no money in his pocket

addiction, well, this is the characteristic that makes a gambler have the heart to borrow money to gamble, besides that their minds are very confused, all they want is to return the capital they lost at the beginning

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Quote from: Ludmilla_rose1995 on January 30, 2024, 05:58:07 PM

I have a hanging out friend who is having trouble paying his house installments, he wanted to borrow money from me but I didn't give it to him because I didn't have the amount he was borrowing at that time, I advised him to borrow from another friend but their answer was still the same, finally, he was a little desperate and with the little money he had he put the money into the online slot application, unfortunately, instead of succeeding in doubling his money, he lost all his money because he lost in the online slot application

It was there bad luck. This is why you don't have to take a risk like gambling by taking a loan. Gambling is very risky and no one can make an accurate prediction here. No one has this power. Gambling must be kept at a level that the gambler can tolerate. A person takes the decision to take a loan only when he is addicted to gambling and always feels gambling. And if you don't gamble, it will make him feel empty. Then a gambler starts making decisions like taking a loan and gambling even if he has no money in his pocket

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Quote from: Gormicsta on February 27, 2024, 11:24:19 PM

Quote from: Iroh on February 25, 2024, 12:40:46 PM

Quote from: Gormicsta on February 25, 2024, 03:07:15 AM

This is a fact that a lot of people have failed to put into consideration. If a person is struggling to pay their bills or meet their basic needs, then gambling isn't the best option for them, I know for some reason, gambling might look like the best way to multiply your money and then use it to pay off your outstanding bills. But this is the worse lie anyone can ever tell you, sometimes we even tell ourselves this lie, please whenever you feel that way, get rid of the thought else you might end up worsening your current situation by incurring more debts for yourself.

In an activity that people are likely to have losses more than they have wins, it would suicidal for anyone to use gambling as a means to service or clear a debt.
Thinking rationally, it’s quite obvious that gambling is not a considerable path to follow in the pursuit of clearing a loan. But when people are in a fix and are under some pressure to repay a loan or to raise some money quickly, rational thoughts quickly fade away and they begin thinking irrationally. That is when gambling starts to look like a good avenue to make money quickly.

By the time you start thinking rationally again, you’ll be left with no more money in your pockets and likely worse off than when you stepped into the casino.

The irrationality that comes with financial pressure can be a very dangerous thing, especially when you're completely out of options, it is very easy for anyone in that state to start making wrong decisions, especially when desperation sets in.
When a gambler gets to this point, gambling becomes a very big problem. Due to the financial pressure especially from debt, they start seeing gambling as a one way ticket make extra money to repay the debt but in reality it's more of a wolf in sheep clothing, it may seem like a solution but in reality only there to create even more problems for you and put you in a lot more mess than you already are, at that point, you view gambling as your savior when it's likely to make their financial situation even worse than it already is.

Absolutely, financial pressure can make a gambler make irrational decisions, especially when the gambler feels that he has no other option. This pressure is dangerous and most of the time the pressure is also caused by gambling. When you gamble with funds meant for a bill you can easily run into problems and then hoping for gambling to solve it can make the situation even worse.

Most gamblers understand that gambling is uncertain yet the allure of potentially winning big and quickly resolving their financial challenge makes them still give gambling a try but in my opinion, this is not a rational decision. The reason is simple. Gambling is not a reliable or sustainable solution to financial problems. Gambling will compound the problem instead of solving it. When individuals gamble under the weight of financial pressure, they are more likely to make impulsive and risky decisions. This can result in significant financial losses, further exacerbating their already precarious situation.

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Quote from: DabsPoorVersion on March 11, 2024, 07:11:47 AM

That kind of statement where they changed or saved their life financially because of gambling is like a once-in-a-thousand or even million chance. Only a few people who are lucky enough can win, but most of them end up losing money instead of winning.

I agree that only few changes their lives through gambling. But if that really changes their lives, it's once in a lifetime opportunity. Many of them ends up badly when they're able to win some already but it's all about how they manage those winnings and if they're too emotional, that doesn't make sense to them anymore when they've won because eventually, they'll just let it lose.

Quote from: DabsPoorVersion on March 11, 2024, 07:11:47 AM

That's true, doing the regular process which is having a job will be better for making money. Risking money through gambling is not wise as it is about risking one's money.

Well, we're all gamblers and we tend to risk our money and that's the essence of gambling. We risk money and we have that chance to have some wins or either double or multiply our money. It's not guaranteed and that's why it's not the way of how you make money as been always said. You can make money for some reasons but it's not always payday in gambling. You win few times and then you're going to lose more times than you are ever imagining. When you're in debt and you think that gambling is the way to pay it off, that's not the best idea that you can resolve that problem. As you've said about having a job, take a portion of your salary and use that for paying your debt and make a contract for yourself that you'd only gamble once you're able to pay in full all of your debt.

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Quote from: Ludmilla_rose1995 on January 30, 2024, 05:58:07 PM

I have a hanging out friend who is having trouble paying his house installments, he wanted to borrow money from me but I didn't give it to him because I didn't have the amount he was borrowing at that time, I advised him to borrow from another friend but their answer was still the same, finally, he was a little desperate and with the little money he had he put the money into the online slot application, unfortunately, instead of succeeding in doubling his money, he lost all his money because he lost in the online slot application

The valuable message that can be taken from my friend above is never take risks to gamble to pay off your debts, the pressure is very big, the chance is very small that you can pay off your debts, often you end up losing even more and losing your money. look for loans, sell your valuables or look for part-time work to pay off your debts, is a good way rather than playing the small money you have in gambling

OP, if you have wanted to borrow him the money, you would had given him the little you have with you while he takes the little from those others who does not have sufficient as he may be demanding and then he could add up to that little he has which he loosed on the slot while chasing to double his stake to pay for this rent bill.

I have just come to analysis this fact according to your explanation.
He was frustrated and stranded which got him took the wrong step but on a full ground, that your friend must be a full to had been in critical need of money and yet he had the little with him for gambling.
He never thought about why he have not win all those while while he spends more time while gambling and what made him think he was going to win with his last fund?
Does he think the gambling sites offers sympathy winning? Of course not . He probably got what he deserved in a well served. Next time he would learn to take control of his gambling emotions.

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Quote from: danherbias07 on March 11, 2024, 06:52:47 AM

Quote from: OceanBit on February 26, 2024, 02:20:55 AM

It's important to remember that gambling should never be seen as a way to payy off debts or make money, but rather be seen as a form o entertainment. If ever you are in the situation of struggling to pay off debts, like what OP mentioned, opt for getting loans, selling valuables, or maybe find a part time work. It may not be as quick or easy as gambling, but these options are more reliable and less risky. It's important to set limits, practice responsible gambling and seek help if needed.

It was never meant for that. Although there are testimonies where they saved their business thanks to gambling (the FedEx guy), that is a very rare thing to happen. I mean, how many testimonies are out there that say they were saved by gambling? I bet it can be easily counted.
The number of losers is way too many than those who win a game in gambling. It's simply because it was not meant to help us out, it was meant to take out money while we were enjoying the thrill of risking it.

I agree. Just look for another way. The chances of doubling the money that we already have is low while it's better if we just use that money to look for a job. It's not like the debt can kill us, those who we owe will try to keep us alive so that we can pay them off. Killing the borrower would just be a bad business for them. Grin

They will have to wait because there's no choice.

That kind of statement where they changed or saved their life financially because of gambling is like a once-in-a-thousand or even million chance. Only a few people who are lucky enough can win, but most of them end up losing money instead of winning.

That's true, doing the regular process which is having a job will be better for making money. Risking money through gambling is not wise as it is about risking one's money.

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Quote from: OceanBit on February 26, 2024, 02:20:55 AM

It's important to remember that gambling should never be seen as a way to payy off debts or make money, but rather be seen as a form o entertainment. If ever you are in the situation of struggling to pay off debts, like what OP mentioned, opt for getting loans, selling valuables, or maybe find a part time work. It may not be as quick or easy as gambling, but these options are more reliable and less risky. It's important to set limits, practice responsible gambling and seek help if needed.

It was never meant for that. Although there are testimonies where they saved their business thanks to gambling (the FedEx guy), that is a very rare thing to happen. I mean, how many testimonies are out there that say they were saved by gambling? I bet it can be easily counted.
The number of losers is way too many than those who win a game in gambling. It's simply because it was not meant to help us out, it was meant to take out money while we were enjoying the thrill of risking it.

I agree. Just look for another way. The chances of doubling the money that we already have is low while it's better if we just use that money to look for a job. It's not like the debt can kill us, those who we owe will try to keep us alive so that we can pay them off. Killing the borrower would just be a bad business for them. Grin

They will have to wait because there's no choice.

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Quote from: TheUltraElite on March 11, 2024, 06:29:50 AM

Quote from: wxa7115 on March 01, 2024, 08:07:32 PM

I really think that because when you gamble you have a chance to get your money back, this makes many people to see gambling in a different light and they believe they can make money with it, but when they think about any other hobby, the thought of trying to obtain profits with it never crosses their minds.

Indeed the mindset of being able to make money from playing your luck is a potent impulse that drives a person to gamble. With pushing from the promotions like free spins, cashbacks and VIP treatment the gamblers feel more and more at home and get hooked to a casino.

This is how to current online gambling industry works.

Of course hobbies are never meant to be paying you. Some might but they are not persured for that purpose.

People who do really love on sticking with easy methods and ways are totally lazy. Despite of knowing about the risks involved they would really be rather that pursuing into these things because
they do believe and having that kind of mindset that it is really just that possible that they could be able to win up gambling without any issues or at ease. This is why it would really be best that you
should really be that sensible on the decisions that you are making and not really rushing up yourself on making solutions on which it is really just that actually suicide.

They would really be only realizing on the time that they will really be having that kind of huge problem towards their finances.They wont really be thinking up well while they are still midway.
They would really be that too confident that they could really be able to make it out without any issues but when the time comes that shit happens then this is where
regret would really be kicking in.

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Quote from: wxa7115 on March 01, 2024, 08:07:32 PM

I really think that because when you gamble you have a chance to get your money back, this makes many people to see gambling in a different light and they believe they can make money with it, but when they think about any other hobby, the thought of trying to obtain profits with it never crosses their minds.

Indeed the mindset of being able to make money from playing your luck is a potent impulse that drives a person to gamble. With pushing from the promotions like free spins, cashbacks and VIP treatment the gamblers feel more and more at home and get hooked to a casino.

This is how to current online gambling industry works.

Of course hobbies are never meant to be paying you. Some might but they are not persured for that purpose.

Topic: Pay off DEBT by do Gambling? think again before you loss more (Read 1980 times)