Topic: Pay off DEBT by do Gambling? think again before you loss more - page 10. (Read 1968 times)

The thinking of such people is ridiculous, on the other hand I don't think anyone should think that gambling can be used as an alternative to solving financial problems, but yes all this is out of our control and maybe there are some gamblers or anyone out there who  really has this kind of thinking. However, this is not a thought that is the result of reasoned consideration, and this means that it is likely that they got this idea when they were in a stressful situation in their lives due to financial problems, especially debt.

On the other hand, being a responsible gambler is the key, this is the more recommended approach because with this then the situation will not be as terrible, it is the same as being able to accept any situation at the end of the session, when winning then you will consider yourself lucky and not "GREAT" and when losing then the opposite, you will tell yourself that "this is gambling" where if there is a chance of profit then the  possibility of losing is also not always avoidable, I think with this then they will not lose control which can make them act unexpectedly.

Yes, I understand that  every gambler has expectations, but only a few of them are too pushy and with this it is clear that the number of attempts made will not be too many so this is what makes responsible gamblers stay in the safe zone even though they cannot completely avoid the possibility of losing.

Instead of gambling and hoping to pay off debts with it, the best option is to pay in installments. Even if the debt is not paid off immediately, paying in installments is the best way to do it instead of not doing it at all. But somehow someone's mindset is that when their financial conditions are too tight, they tend to take big risks and fail to find better options.

Gambling should be considered entertainment, not a source of income. If someone is in debt but they aim to win at gambling to pay off their debt, then there is a big risk of getting into more debt as a consequence. I know not all bets will lose, but the low probability of winning is a risk worth considering.

We do know that winning chances in gambling is never been that on favor for gamblers on which it is really just that less and really that our disadvantage. This is why it would really be that recommended
that you should really be doubtful on making it as an option on solving out your debts. Just like on what most people been saying on here is that instead on making yourself be able to resolve out those
problems, it might be able to worsen up even more. This is why its never been that recommended that you should be gambling into those last money or fund you do have because you are hoping
that you could be able to make it big and would be able to pay up those loans.

You are just basically trying out to worsen up the situation because of those wrong assumption and hopes on which we know that people would really be normally
be sticking into those ways or methods which known to be easiest but actually the easiest way on fucking up yourself in the end. 

It is foolishness to gamble hoping that you would use the win to pay off your debt. Gambling is unpredictable therefore one cannot rely on it for anything. This doesn't mean that people have not been lucky to pay off debt with gambling wins but you should never depend on it for such. Before collecting a loan, one should ensure that they have the means of paying for it and the loan should be used for business and not for pleasure. I think your friend should consider sorting his loans from other means like selling valuables or getting an extra job. If you keep relying on gambling for debt payment, you might go deeper into debt.

Hoping to pay off debt from gambling is crazy. Gambling cannot promise you a definite profit, from 100x the game if you are lucky you might win up to 10x. If calculated, it is not a profitable number at all, not to mention that if you play with high pressure you will definitely make stupid decisions in gambling. It's better to sell assets that can be sold to pay debts then you can continue living a better life without burdens on your mind. Because assets can still be bought again when you have enough money from a more decent job.

On the probability on which is less and this is something that someone should really be mindful and something that being realistic on which on the time that you do see gambling as some sort of
solution into your debt problems then better think not because sooner or later you would really be that making yourself putting up into a situation on which you are really that basically making yourself that putting yourself into so much trouble which it become that even more worst considering that odds on losing in gambling is way more higher than on winning. On the time that you would really be having those impressions that you would really be making it as a solution or method on making yourself that trying out to resolve your debts then better think not or avoid that kind of idea.
Trust me, you would really be just be blowing up your pocket even more and would really be worsen up the situation.

When it comes to gambling and winning, the winning chances are always under probability, and when they say something is under probability, they mean the chances are between zero and 1, which is just by chance for the person to win the game. The risk of taking the little I have to gamble is really not worth it, as it's too risky.
 
It could have gone a long way if he used the little money he had to pay for the debt; it could have reduced the total amount he could have been looking for. Even if the money is not up to 10% of the rent, paying half of it will show some level of seriousness in repayment. Gambling gives people a chance to win, but not in the way that you use your last cash to place a bet. Such a risk is not advisable.

because in fact if they want their finances to be normal or stable they have to work in real life with a clear income and be able to restrain themselves from gambling, because that is what they have to do to pay off the debts that surround them, if they want their money problems to be resolved then gambling It's not an alternative way, because the chance of winning at gambling is not as big as the chance of losing, so what you say is true if they have financial problems and take action to gamble, this will not solve their financial problems but will only add to their own problems. Moreover, even if there is a win at gambling, it cannot be guaranteed with certainty.

"dig a hole but bury yourself" I think this is familiar, I also saw it in another thread. but forget it, it's not a problem, because the problem is fixing financial problems with gambling, that's the problem, it's also impossible for gambling to give you a definite win. because of course the aim of gambling is to make a lot of profit, so I think if they want to pay off their debts by gambling, that's the wrong way, because it will only make them quicker to destroy their lives. Maybe this is the same as lighting a fire under the bed, it will only kill us slowly.

Paying off debts by gambling is not the right way because it is better to use the gambling money to pay off existing debts, If we hope to win at gambling so that we can pay off debts, then what if we lose and the gambling capital is money from debts, aren't we just adding to the burden?
It's better to pay in installments little by little rather than having to risk the money in gambling, many of us here might do that but I'm very sure that this is just a wasteful act and will only increase the burden of existing debt, this is because addiction to gambling of any kind has negative impacts both financially, physically, emotionally and socially. Paying off debts is not easy, especially if we don't have sufficient income, but believe me, there are still many ways and solutions to pay off debts other than gambling.

While this has been discussed previously, let me repeat what I have previously mentioned about this topic.

Never ever gamble in order to pay current obligations. Additionally, never use gambling as a means of income in order to provide for your daily and/or monthly needs due to the nature of it being risky. If you use a risky venture in order to pay a current obligation, you are putting yourself in a very risky position that can definitely snowball into a bigger problem.

If you have an existing loan, pay it using the money that you have earned from a job. Never ever use gambling as a means to pay debt as this can worsen your position further.

Perhaps the reason on why most people use gambling to pay existing debts is due to its simple nature- either you win or you lose. People want to skip all the turns and use the short cut; but this shortcut is full of traps and dangers.

I always remind people: if it were so easy to win at bets, why aren't all bettors rich?
and above all why do bookmaker and casinos have more and more profits? repaying debts with gambling is a clear oxymoron

The valuable lesson of this topic is that there are already 1594958402 topics talking about the same problem. I doubt that anyone needs to read that trying to pay off debt with gambling is a bad idea! I mean, maybe I am wrong and someone reads this topic and it opens their eyes, but I doubt that someone is so naive to truly believe that gambling could be a rational and reasonable way to pay off debt...

Assuming a dice throw or wheel spin will solve money problems is like expecting a magic act to teach science. Though amusing, the entertainment is not the classroom.

Responsible gambling is my kind of idea. Knowing the game, enjoying the ride, and remembering the exit are key. At a party, you love the music and dance, yet you know when to leave. The key? Enjoy the highs, learn from the lows, and dont let the game control you.

Every gambler has hope! Believing in the unattainable and dreaming of the rainbow jackpot makes us human. However, lets stay grounded and avoid the clouds. Gambling for enjoyment, as a hobby, to spice up life? Absolutely. A financial plan? Not so much.

Moreover, he made a fatal mistake because he considered gambling as an instant money multiplier, this is a valuable lesson for us, not to use money that has a purpose, it is better to use cold money for gambling.

If he has no income, he will have difficulty repaying his debt because he has no money. That is why a person does not need to gamble if he does not have money, and he should focus on looking for a job to make money. Taking loan money means we have to return it according to the agreement, and if we are late in returning the debt, we may get a fine for the delay. So we shouldn't borrow money to gamble, especially if we don't have money or income. That will only add to the burden because we will think about unpaid debts.

That is obviously not something that anyone should do.

Gambling by definition is an -EV proposition and you'd be foolish to want to pay off debt using that. As we all know, gambling should be reserved for entertainment purposes only, and you should not bet any more that what you can afford to lose.

Unfortunately, not everyone follows that adage, and I have seen way too many people gamble away money that they desperately need. This is not restricted to house debt - I've seen people do the same on credit card debt. It's a real shame.

Yes because after all gambling is not an alternative to solving other problems unless it is just for fun to overcome boredom when you have free time and some responsible gamblers have this approach which is more advisable, but if you are thinking of using gambling as an alternative to solving the problem of "lack of money" then obviously gambling is not the place to solve this and instead this will be a place that will make you experience new problems in addition to your debt problems in real life. You have also said that one of the reasons it makes no sense is because gambling does not provide any certainty or guarantee to any gambler regarding the outcome at the end of the session.

Yes that's right, the urgency factor makes them seem to override the important aspect of gambling such as "possible risk", on the other hand all this is because of the hope factor that makes the confidence grow by itself that leads to victory. Never mind, after all gambling should be fun and not miserable, solving financial problems by making gambling an alternative is like you are trying to dig a hole but to bury yourself.

It is never possible to pay off a gambling debt and it will only put the gambler in further debt. After betting with loan there is no guarantee of winning. Invest the money in business activities other than gambling if less you will get profit. If the person does not think about the problem then he will never be able to deal with the loss. Consider everything properly before gambling with loans. How bad will be the effect if the loan is not paid on time.

Gambling to pay off debts is the worst idea any one would think of. I see it as an unwise decision for anyone to make. If one so needs money do something very important he should be adviced to take a loan or get something doing that can give him the money buy not gambling. If he has gone for trading that might had been better as gambling is something you do when you are less tensed and from the situation of your friend here, he definitely would be tensed since he needed the money urgently that could have caused his loss.

In gambling we should see to it that we make wise decisions so that we don't end up loosing everything just because of fun. Gambling isn't to pay off debt, if you are lucky to have won before then you can use your previous wins to do that but don't stake  money for some important stuff into gambling.

   What your friend did was actually a desperate move; maybe at that time he could not think of any other solution but gambling, and he also thought that gambling would solve his problem quickly if he was lucky, but he was wrong; he is what he thinks he is.

   Those scenarios, knowing how complicated it is for someone who is dealing with a problem like this, It is said that every problem has an associated solution, and there are only two solutions: those that are not correct and those that are correct. And most gamblers choose the wrong solution that, in their eyes, is the right way, but it really isn't.