Topic: Pay off DEBT by do Gambling? think again before you loss more - page 12. (Read 1981 times)

Impatience has pushed so many people into gambling to save a situation but, it has created more problems than it solved. I was having a lunch break with a friend yesterday and during the break, I transferred $6500 he has asked me to his account to enable him carry out a project since he needed that money to complete the money he needs for the project. I got angry when he told me he needed an additional $1000 because he had used $850 to gamble and $150 to settle a bill. Most people with challenges have always hoped gambling saves but there are better options as @Natsuu has noted.

Personal observation shows that 97% of people who gamble under pressure tend to lose and only 3% have been lucky to win while gambling under pressure so nobody should subject himself to gambling under pressure because you may not fall under the 3% lucky ones. The anger of losing in gambling if not controlled can lead to a greater desire to gamble to get back on a high. Thereby, losing everything.

That's the wrong way, if you hope to be able to pay off your debts by gambling, I also once had a friend like that, he was unemployed but he was diligent in gambling every day, I don't know until now I'm still confused about how he financed his gambling while he still had a lot of debt. which includes having debts with my uncle, I also don't know how to advise him even though he also has bills such as his vehicle that he has to pay for every month.

I think people like this will usually have a lot of problems in the end, maybe for now he is still smart in managing strategies for turning his money around, whether from loans from person to person to cover other debts as well as finance his gambling, sometimes he also often wins but he has more experienced defeat, a few days ago he made an offer to me, he wanted to sell his motorbike to pay someone's debt but I didn't buy it because I knew he wanted to finance his gambling again. As much as possible, it is best for friends like that never to lend them money so that they learn and stop gambling.

Look at the bright side, the casino earns money from your friend and it will help the casino to become bigger, the casino employees will get paid and hopefully the casino will not layoff their employees.

If I were someone who desperate to double or triple my money, I'd choose to gamble on shitcoins where I still have a probability to earn instead of gambling where you almost have no chance to make money.

Debt payment should be from stable income. Gambling is not a stable income at all.

However this context is very common, because many people take loans to fund their gambling games with the hope that they will double it and pay back with interest while the rest is their money to keep. This does not always work out and when things go South, they take another loan to pay back the old one.

This cycle of debt does not stop and eventually the gambler finds themselves in a tough spot to come out of. Hence taking a loan to gamble or trying to pay back a loan by gambling should be avoided.

maybe that's what happens when a person is desperate and can't really think of a reason to get money, because if he has a stable income, he can't think of gambling to get money to pay his debts. Just like what you have said, the idea of doing gambling to earn money will be a possible reason to lead him into more debt, so It's better to seek another legit and stable income so he can save enough money for his debts, rather than doing gambling which is unstable and we didn't know when we will win and lose

Definitely, thats the kind of experience he will have, lol. One thing I understand about gambling is that you might not win or double your money at that moment when your mind is just glued to multiplying your staked amount and leaving.

At some point, I even started to think that casinos usually read our minds to know our gambling intentions . For example, if you just want to gamble, win, and leave, that's the moment you will lose all your money, and you will feel tempted to keep gambling so that you can at least gain back the money you have lost so far.

Judging by what you said, @OP, your friend is not a gambler, so why did he feel convinced that he could multiply his money with gambling? I have no doubt that someone might have told him or advise him to try gambling. The lesson to also learn here is that you should not follow every piece of advice that you get from people. Indirectly, some people might be envious of you, and they will do anything to make sure they see you fail. If you follow the advice of such a friend, you can just end up in a big mess.


It's better to even get a job and look for some side hustle that can earn you at least small incom, when put together, you can still pay your debts.

Your friend must have been desperate to try gambling so he could pay his house installment, that's the worst thing you can do, and it's depressing if you lose the money, he could have requested the landlady to give him time and their other ways but gambling is never a good way to try so you can pay your debt, your friend's case is not isolated there are people who out of desperation turn to gambling because they have prior experience that they won a lot of money and it saves them from their debts or monetary needs.

If you are gambling with a huge pressure to win on your shoulders, there's a possibility that you'll go nuts if you lose the amount and based on my experience and I guess the experience of the other players, you are likely to lose if there is a big pressure to win, which is why the term chasing your losses comes in, you cannot accept your losses, so you will try to chase your losses that will result to more losses.
I hope your friend is ok this is the kind of situation that every gambler should avoid at all costs.

This is the wildest thing one could ever think of. Imagine paying your debt with something that can potentially leave you into more debt. Well anyway, some people make it work to them, but this is not applicable to everybody. You're better off just doing it normally like having a job then paying off the debt with your salary, rather than take a chance and a huge risk without any certainty of getting anything back.

Unfortunately, there are people who think the way your friend thinks. Its very possible to double or even triple the money used to gamble but the chances are extremely slim and not in the favor of the gambler. You’re more likely to lose your money than to have that win. It’s not a risk anyone looking to pay off a debt or a pressing bill should consider taking.
For someone who has a stable source of warning an income, It’s much better taking out a loan from the bank if friends and family doesn’t come through than to use what you have left to gamble.

They’ve been tales of people who made similar mistakes and how they regretted their actions as it almost always doesn’t end well. But it seems such stories haven’t made much of an impact on gamblers as some still tow the same path, making the same or similar mistakes.

that's true, in fact I think many people are like this, they take the initiative to double their money in gambling so that they can have enough to pay off the debt they have, and as you said, this is indeed wrong thinking and more precisely maybe it is stupid, because legally gambling, winnings cannot be obtained according to desire, so when they need money for anything it doesn't mean they have to double it on gambling because that is the wrong action. and perhaps they hope that gambling can solve all their problems.

The habit of gamblers is to ignore and ignore the risks that exist, they tend not to look at losses and risks, but it could also be that they are aware of the risks in gambling, but they can still cover these risks with the belief they have about the big win that will come. got it. I agree with you, gambling is not the solution to all the problems in life related to finances, this is just a paid game and with winnings you can only get a bonus but it is not certain.

This correct. Gambling has a house advantage that will surely make every player lose in long term. Above all he play on slot games which we all know that is the hardest game to win due to its nature of pure luck and house edge.

I consider slot games as the real killer on among all the casino games because it rarely pays huge amount while it frequently consumes your bankroll slowly and surely. I’d rather play on table games or sportsbook rather than slot games that I don’t have any option to improve my winning probability using my thinking skills. Your friend is still lucky that he didn’t manage to get a loan because there’s a high chance that he will use it to gamble because he resorted on gambling even with small amount of money on his wallet.

When you are in need of money, don’t gamble with the little amount you are having at the moment, because you have high chances of losing your bet at that particular time, gambling shouldn’t be a activity which you do to increase your money, after gambling and losing, the amount which your friend will be looking for to complete his house rent will have increased, the best thing which your friend should have done is to keep the money he was having with him, then look for ways to source for the remaining amount and pay his house rent. Some people don’t really know what gambling is about, and they do end up gambling at the wrong time.

Going into debt to gamble or gambling to win and paying off debts are two different things that have quite significant negative impacts, they will only receive various bad results if they continue to have this approach and mindset.
Gambling has greater risk of losing and if the aim of gambling is to be able to pay off debt then it will be the same as hoping to make gambling place to make money, this is clearly big mistake that should not be made.
Moreover, debt is an agreement that is matter of full responsibility to be paid back according to the agreed time and if we dare to go into debt then we must be able to have sense of responsibility to pay it, we must be able to have more certain income such as doing business or working.
That way, there will be certain amount of money that can be earned and can be collected consistently for the purpose of paying off number of debts that we already have, after all, if don't have the ability to make money consistently and definitely, it would be better not to take out loan.
It quite bad mindset to use gambling as place to make money and be able to pay off loan.

My advice is that under any circumstances and no matter how difficult the conditions regarding financial matters, never once in while have the thought or hope of gambling with the aim of multiplying money because it will be more difficult and the risks and consequences are much worse.

Extreme luck you do say on which this is a do or die kind of choices on which it would neither solve out your problem or would really be making it worst on which we know that gambling isnt something that could really give out that kind of solution when it comes to debt problems or any financial hurdles on which if you do put up yourself on such choice or resort then it might be ended up instead on extreme disaster on which it would really be leaving you on having those regrets which you didnt expect for it to happen. If you do get yourself that too dedicated on gambling then you should
really know the consequences if things turns out to be negative.

This is why as much as possible if you do able to resolve out problems on other methods as much as possible. You cant really be able to put up yourself on such
trouble if you are really that mindful on every actions you are making.

It takes a lot of luck to achieve what you want when doing this kind of decision. It's a lot of risk to gamble the remaining money you have, especially when you're in need. Sometimes hopelessness and being greedy surrounds us when we're in our deepest situation. Probably it's the reason why risked the only money he have since he was so desperate to have money that fast. However it's a 50-50 situation, either you win or you lose. Or maybe not even 50-50 since it will depend on the odds and the possibility of you winning. And if you can't afford to lose it, better not do it.  Now, instead of him only needing a certain amount, he was left with nothing and will be needing more to pay off his installment.
To be honest, I feel like he has other options but still decided to go with gambling. Idk how his installment works but maybe it's possible to delay it for some days, or ask for a cash advance, or borrow to other relatives or family. it's also his desire to get easy money by trying his luck in gambling.

Doubling your money by gambling is the stupidest way to get more money, because gambling is risky and at any time you can lose. Especially in games like slots, it is a game with a low win rate, if you are planning to double your money in this type of game that relies on luck like slots then you should think twice because it is quite difficult to get money in this game. Just never pay off debt by gambling, because you will never win, unless you have god-level luck.

What is this? Is this a kind of game like a slot that are available on online gambling sites or casinos?



The rules are very simple, yet we make it complicated. It's never gamble what you can afford to lose, and borrowing to gamble already break the rules. Well, there are people who makes stupid mistakes like this because they are so courageous, optimistic, whatever you call it, but stupid because they only see the positive outcome, unfortunately it's the negative that happened. It should be a lesson learn.

I think it is not uncommon for people to come and engage in gambling with the initial intentions and goals like your friend who gambled with the aim of winning to pay off debts, however this is a wrong and stupid mindset. Gambling is always nothing more than a game of probability or profit - profit that does not have any certainty at the end of the session especially on winning, everything there is nothing more than a "possibility" and this is the reason why it is absolutely not recommended for anyone to put goals and hopes that lead to earning in gambling, none other than because the risks that are there are far unbalanced in the sense that it is very large which actually makes you experience a worse situation.

For those who come with the aim of winning I am sure that they are too focused on winning so as to ignore or rule out the possibility of risk which is clearly always inseparable in gambling, after all gambling is always about the possibility of two things at the end of the session namely winning or losing, so of course as I said above that it is a ridiculous decision if someone comes with the hope of winning especially with the aim and intention of paying off debt. However, gambling is not a solution to any problem, especially debt, because the risks involved simply do not allow a person to realize their wishes.

only people with low minds have thoughts of wanting to double their money in gambling with the aim of paying off debts.
cases like this often happen and what's worse is that someone who has the intention to gamble doubles his money to pay off his debts by luck getting a large multiplier and can pay off his debts and in this case he will definitely have the idea that gambling can help pay off his debts and will continue to gamble if he has financial problem.
It is clear that gambling is just a place to try your luck by having fun and also not to double your money, but if someone has thoughts like this I think it is a stupid thought that is not worth imitating because it is very misleading to oneself.
for some reason there are a lot of cases nowadays where people are thinking about doubling their money in gambling and there was a thread asking about gambling as a career which for me was ridiculous.
how is it possible that we can double the money when gambling will make money for the casino owner not to give money to the customer unless gambling in the poker game beats other opponents.

It's sad to see your friend who needs money to pay off his debts but by gambling and you should forbid him from doing that because I'm sure your friend hasn't been a gambler for too long so he doesn't understand how gambling works and only has thoughts of doubling his money.
there's no harm in trying your luck at gambling, but don't use money that will be used for daily needs because you will definitely lose and after that you will feel regret and guilt and become emotional and chase after your defeat.
advice for anyone, don't think that gambling can double your money, but use gambling as a place to try your luck with money left over from daily needs and don't try to think about paying off debt by gambling.

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