Pay off DEBT by do Gambling? think again before you loss more - page 11.

irhact

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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

Borrowing money to gamble is wrong and it won't help you instead it'll make you to be in debts. Gambling should be for entertainment and money we're to use for gambling should be money we don't have any pressure to payback. When you're borrowing to gamble, you're putting pressure on yourself to win your bets and this can lead to addiction which is a big problems to gamblers. You can't pay off debts from gambling but you'll get into more debts when you're borrowings money to gamble.

Only a few individuals have being able to borrow money to gamble and have succeeded in doing that. Gambling isn't a guaranteed way of making money therefore when you stake your bets, you have a chance of winning or losing and the house always have the edge against those individuals gambling therefore you have more chances of losing your money than doubling it. Use only spare money when gambling.

Heartilly

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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

That's where some people end up if they have no other choice. What are their other options if they have already done everything they can? The sad reality in life where it's hard to look for someone or some institution that will give a loan even if there's collateral.

Some people got lucky from gambling with their last money. That's a big luck! But unfortunately, there are far more people who end up losing it all. I hope those people who experienced the latter will about to get back on track and survive the problem they are currently dealing with.

angrybirdy

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Quote from: |MINER| on January 31, 2024, 03:27:31 PM

This is nothing but foolishness if anyone wanna clear their DEBT by doing gambling. I have seen lots of people are being more DEBT for the gambling by loan. And if we see the first rules of trading that gamble as much as we can afford to loss then it will broke this rules if anyone gambling crossing by his affordable. If someone wants to do that then I can see nothing but darkness in his life in the future.

Same here! I know a lot of people who get more and more in debt because they rely on gambling to get the money to pay off all their debts, the ending is that they run out of money even more and it happens again and again, every time they lose gambling they will find someone to lend to because they don't have a stable source of income. It's just sad to think that because of what they do, it has a big impact on their lifestyle, and they might even pass the responsibility of paying off their debts to their children when they grow old. This is an example of a Toxic mindset which should be cut off early because it is difficult if such attitudes and actions are passed on to younger people.

goinmerry

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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

That person is shit out of options. I know the feeling.

Desperation because no one helps him while being in the dark situation. Reading your story, I'm sure he tries his best to ask for loans from SEVERAL FRIENDS but none of those help him. I don't blame his friends though but because of that, that person becomes desperate.

You forgot to mention if that person is already a gambler? Or the gambling just started because he's out of option?

topbitcoin

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“Taking loans to gamble and gambling to pay off debts” is something that is highly discouraged. And if someone does that, it can show how stupid that person is. This is a financial trap that can have a serious impact on a person's financial stability and well-being. Because after all, gambling involves a risk, and winning is not something we can guarantee we will get, but only a possibility. Meanwhile, when talking about loans, we definitely have to pay them every month along with interest.

And if you decide to gamble with borrowed money, this is a bad decision. If you are facing debt problems, it is wiser to seek responsible and sustainable solutions. Help from a financial counselor or debt management agency can provide guidance and a more regular payment plan. It is important to understand that gambling is not a smart solution to financial problems and can have detrimental consequences.

|MINER|

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This is nothing but foolishness if anyone wanna clear their DEBT by doing gambling. I have seen lots of people are being more DEBT for the gambling by loan. And if we see the first rules of trading that gamble as much as we can afford to loss then it will broke this rules if anyone gambling crossing by his affordable. If someone wants to do that then I can see nothing but darkness in his life in the future.

Blitzboy

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Everyone has that friend, right? Heart is right, but strategy? Somewhat less. Avoiding gambling was good advice. Especially in a pinch, the temptation to turn pennies into pounds quickly is hard to ignore.

Keep in mind that life is too short to not gamble occasionally. Try to keep it entertaining and not use it as a financial rescue. I usually say to gamble like dessert - in moderation, but not daily.

Create a "fun fund"? A separate fund from the "oh no, the roof is leaking" fund for whimsy. Your companion can enjoy the game without risking everything. Additionally, good stories are key, right? To be honest, "I won big by being sensible" works well!

electronicash

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we have seen scammers robbing Peter to pay Paul. it's not so much different from taking a loan from some dear friend and then paying the amount to someone.

gamble the money so you could pay the debt is a much bigger risk, losing the money means you have two sides where you are owed. you'd be lucky if the people you owe from are patient enough not to sell your corpse to doctor students.

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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

I couldn't think and was very angry at people who thought they could pay off their debts by gambling. I can say that it is a very loser mentality. Gambling will only increase your debt. Because as I said before, in gambling we have a 50:50 chance of winning or losing even though it is a sports bet with odds. In the end you only win and lose. If you are lucky you will win the match but if you lose then your debt will increase. And you have to remember that casinos are a business and business is always about profit.

OgNasty

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Paying off debt by itself is such a good way to earn a return on your money (in a way) by eliminating interest you have to pay that it shouldn’t be lumped in with gambling habits. Just pay down your debt as you’re able. When people use gambling as a way to make money instead of have fun it typically does not end well for their finances.

Dewi Aries

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Quote from: Shishir99 on January 31, 2024, 10:02:26 AM

A similar type of thing has been discussed here many times. It is never advised to take a loan to gamble or think to recover your lose by gambling. We do not control our luck. Mostly gambling depends on luck and unfortunately, the player has less chance to win. Winning is never guaranteed. So, if you invest your last money in gambling with the hope that you will win some money so you can pay off your debts with the money you would win by gambling, you should understand that winning is never guaranteed. If you lose it again, you won't be able to pay your debt. You could have paid off your debt withe the money you have just gambled. So, it's better not to gamble with your last investment.

Of course taking out a loan to fund gambling activities is really not advisable and I would probably say that it is a very silly decision for anyone to try to take out a loan just to gamble because after all gambling is just a probability activity that should not be overdone because there is the possibility of much greater risks that of course will always lurk all gamblers involved. Yes it's true and I recognize that gambling always depends on how lucky you are at the time of the session, simply put if you win it means you're lucky and if you lose it means the opposite.

With the basic fact about gambling that has absolutely no certainty whatsoever, this alone can be used as a reason for a decision that gambling should not be taken seriously especially if you force victory because in fact the opposite happens, namely you will suffer a large number of defeats that know no time limit especially if you come with the intention of finding victory to pay off debts then obviously it will only create new problems, in the sense that you will not be able to pay off debts but the problem is even more increasing in terms of losing money that should not have happened, therefore we must be truly rational in looking at gambling.

Ludmilla_rose1995

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Quote from: eye-con on January 30, 2024, 06:44:49 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

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

It appears that he has resorted to gambling because he needs quick cash to pay off his debts, and no one in your group is willing to lend him the money he needs. Therefore, he has chosen to try his luck in the hopes of winning some money.

I understand that lending money to a friend to pay off their debt is not a good idea as it can lead to more debt. If someone were to ask me for money in such a situation, I would also decline. Instead, I would seek help from our mutual friends to pool money and assist the friend in need. This approach prevents them from resorting to gambling as a solution to their financial problems.

Collecting funds from other friends has been done by me and my friends, but this friend of mine has a bad habit of borrowing people's money but not wanting to pay, as a result we are tired of giving him money

hearing that he was betting his only money on gambling at first really really shocked me, I didn't expect him to be that desperate, even though he only needed a few tens of dollars more, it's a shame he ended up losing all the money he had

uneng

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I have already gone into gambling in order to collect enough money to pay bills, and it has actually worked for a while. Although the more you do this, closer you reach from the so feared long term, that is when gamblers can't overcome the house and start losing all the progress achieved so far. So, inevitably at some point it won't be possible to collect money to pay off debt anymore, therefore this practice is totally discouraged due to not being sustainable and due to creating more debt on long run.

I was lucky when I tried it, but unfortunatelly your friend wasn't right on the first attempt, maybe because he was too unlucky or because he didn't have a considerable bankroll size to allow him survive in the game for longer. Now he has to work even more just to recover the small sum of money he had before losing everything to slot machine. I hope it's going to be an useful lesson for him to not trust gambling anymore when having to collect money in a hurry to pay off debt. Everyone takes a lesson sooner or later from gambling and even though it's bitter, we have to swallow it.

Hispo

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No offense, but in my opinion your friend took a very reckless choice in counting on literal gambling to solve his funding problem. It simply does not make sense to me he would do that, unless he was very badly informed about how gambling works and the actual odds he had to win over the house.
I makes me wonder whether the shared his plans to anyone around him, by the way, to me this is the kind of behavior anyone in the right state of mind would certainly disapprove and advice not to do it.

Anyways, whatever happens to your friend, I hope he manages to recover from that decision he took and learnt one of the most fundamental lessons about gambling. In the end, noone is supposed to gamble seeking for profits, specially with money one does not actually own.
To me it is kind of surprising how you managed to know about this loss suffered by your friend, if I was him I would be so embarrassed I would rather never to talk to it openly.

aioc

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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

I pray that I will not be in this kind of situation, this is a gambler's nightmare you should not tempt your chances what if you win is hard to accomplish if you put pressure on yourself to win, I don't know based on my experience when I'm trying to win, I get a long run of losses but when I'm more relax and leave everything to what will happen, that's when I strike a lot of winning, kind of usual but it happens.

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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

Gambling is never an answer you should never look for the answer on gambling because it will bury you like what happened to your friend, never think of gambling as a way to solve your issue, and never think of gaining something from gambling, because in gambling winning come unexpectedly and when you try to expect to win its losses that will come to you.

Crypt0Gore

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It's been said so many times before, don't gamble for money making purposes, I know that money is forever a reason why most people gamble, my question is how has this benefit you so far? Most times you lose and few times you won but do you have anything to show for it? I think the answer is a no, because most gamblers whom purpose of gambling is making money always get greedy, when they win they will always be back to win more.

If you are in debt and gambling is the only thing you can think about, believe me, you are just getting started with debt in your life, you will probably keep paying debt till your last breath on earth, this is the painful truth about gambling with the hope of making more money, you shouldn't do it for the money but for the fun.

You will found peace with gambling the day you accept that gambling can't make your rich when your whole mind is on getting rich from gambling, your mind fixed on the winning will get you corrupt, and you will make haste decisions.

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Quote from: Shishir99 on January 31, 2024, 10:02:26 AM

A similar type of thing has been discussed here many times. It is never advised to take a loan to gamble or think to recover your lose by gambling. We do not control our luck. Mostly gambling depends on luck and unfortunately, the player has less chance to win. Winning is never guaranteed. So, if you invest your last money in gambling with the hope that you will win some money so you can pay off your debts with the money you would win by gambling, you should understand that winning is never guaranteed. If you lose it again, you won't be able to pay your debt. You could have paid off your debt withe the money you have just gambled. So, it's better not to gamble with your last investment.

investing money in gambling and hoping that later you can win from it is like betting your fate on something that is uncertain, if you win then you will be able to get more money but if you lose then you will lose all your money. because the results are uncertain, gambling all your money, especially to pay debts, is an action that should not be taken because there is a chance of losing all your money and you will not be able to pay your debts. So instead of taking the risk of losing money like that, it's better to just pay the interest first (^{if you can't pay your debt in full}) don't gamble that money away.

komisariatku

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

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

I've experienced this, even recently. I had a loan on the forum and I used it to gamble and it all ran out because I was quite ambitious at that time. It was really bad but luckily I was able to pay back some of my loan the following week. This was a bad experience for me and I will not repeat it again

Of course doing something like that carries a huge risk, it is very difficult to get big wins, especially on slot machines. Slot machines are brutal, if we are unlucky then everything will run out and that will only add to new problems, often when we gamble under pressure or ambition what we get is losses.

Gheka

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Quote from: Natsuu on January 31, 2024, 04:58:44 AM

Basically, instead of turning to gambling when strapped for cash, your friend could've considered getting a loan, selling stuff, or finding a part-time gig. These options are more practical and reduce the chances of digging a deeper financial hole. It's about making smarter moves to tackle debts without taking unnecessary risks

Borrowing money also needs to consider our own payment conditions, many people mostly ignore this factor and the most common path is to borrow money from society and society is a place where they only seek to exploit and do not consider the moral and emotional aspects, deadlock will turn gambling into a forced choice, and once again society pushes more golden words to rob us of what is left. Debt is something that needs to be localized quickly and reduce the interest rates it can generate, at least provide convincing conditions for work so that the bank can consider and relatives can help

Shishir99

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A similar type of thing has been discussed here many times. It is never advised to take a loan to gamble or think to recover your lose by gambling. We do not control our luck. Mostly gambling depends on luck and unfortunately, the player has less chance to win. Winning is never guaranteed. So, if you invest your last money in gambling with the hope that you will win some money so you can pay off your debts with the money you would win by gambling, you should understand that winning is never guaranteed. If you lose it again, you won't be able to pay your debt. You could have paid off your debt withe the money you have just gambled. So, it's better not to gamble with your last investment.

Topic: Pay off DEBT by do Gambling? think again before you loss more - page 11. (Read 1968 times)