Pay off DEBT by do Gambling? think again before you loss more - page 8.

Gozie51

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Quote from: the rise on February 04, 2024, 06:26:42 AM

Anyone who gambles uses money that has a special purpose by thinking that by putting it into gambling it can be multiplied quickly. I'm sure the results will end badly. Don't use money that is of interest in gambling, but use more money that you have or can afford. If you lose it, it's best if you want to pay off your debts, it's better to sell valuables or get a loan, and stop gambling first

Someone who sells of properties to repay debts from gambling can likely go back chasing the money lost. To gamble and have high expectations for profit is the cause of this because many gamblers put the mind of winning always and they increase their staking bankroll out of proportion at the end some even borrow to try repaying. It is better to gamble as reasonably as possible and not to over stake in anticipation for profit that you don't get but stocked into borrowing or selling property to pay bank debt. It is better to stop gambling if you can't control the loses instead of borrowing , to borrow set someone backwards. You can borrow to invest but not to gamble.

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why do we focus too much on mistakes, just imagine if you were in the position of those who don't have any hope of paying the bills, what would you do to get money instantly, while you are a gambler of course you will think the same as him, we will find it difficult to know If we have never felt someone's condition, we just tell them that it is bad, just imagine if that happened to us

GxSTxV

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I would say that in these cases where someone has debts or fees to pay them back in a specific time, it’s something more hard for a gambler than a normal person. Personally, I had fees to pay in time while I was short in cash and honestly I had thinking of gambling for a chance to win and pay off my fees, but it’s just a thought that I had to take off quickly because of the consequences of it, beside being a responsible gambler and had to learn a lot from experiences.
The story you shared is one of the worse scenarios that could happen to someone, at the same time it’s a lesson for that person to never do that and gamble money you can’t afford to lose while there’re much solutions better than making things worse.

Conclusion of this story is; gambling now is more accessible, promotions that are tempting a lot of people into gambling, risking too much more than you can afford is so wrong.

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Would be only working if you will be guaranteed of winning. When gambling a borrowed money or debt, interest rate will be always present. And if you could imagine, try thinking of the possibility of losing all of it and still be required of paying what you have borrowed, in such way it will be more frustrating. Also, if you reached that point that you will be in debt just because of gambling then that's already a bad thing to do. The money we should be engaging in gambling should be an amount covered by our loss tolerance. Long run is that doors won't be always open and always close. If you would still be able to buy the things you need as long as a little bit of wants, then you'd be fine no matter what outcome it turned out. Unlikely of the feeling, when you are already pressured of the idea that you could lose in most instances. So if possible, just take a break from gambling than to be too much of a gambler.

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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

Why is it that stories like this orange end with The Gambler losing money and not being lucky and winning enough money to sort out whatever needs to be sorted out? I am just thinking because all the stories like this all have a sad ending. I wan to read a story where the ended was good. Where the gambler was able to sort themselves out from the winnings because their risk paid off.

Quote

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 being said I agree with the lesson here. Do not sit down bling as It gets Rich quick scheme or as a business venture where you invest money and make profit and even expand the business. If you are jobless, get a job. If you are not making enough money, get a second job. If you are in need ask for help. Gambling is not the solution to your problems.

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Quote from: darkangel11 on February 04, 2024, 12:55:42 PM

Quote from: the rise on February 04, 2024, 06:26:42 AM

Anyone who gambles uses money that has a special purpose by thinking that by putting it into gambling it can be multiplied quickly. I'm sure the results will end badly. Don't use money that is of interest in gambling, but use more money that you have or can afford. If you lose it, it's best if you want to pay off your debts, it's better to sell valuables or get a loan, and stop gambling first

It's sad to see these stories of people who don't have money and want to improve their situation so much that they decide to take a loan and gamble with it. It's like they can't see any other way out. This always reminds me of people who decide to kill themselves. They also can't see a way out and the only thing they can think of is ending their life because it makes the problem go away. The man in OP's story needed someone to show him the way and tell him that betting borrowed money is only going to make things worse.
I've never done such a thing, but I'm a thinker and a planner and I often let opportunities pass me by because I take so much time to think about possible outcomes, but this also makes me safe from mistakes like the one we're talking about.

Really very sad and you would really be having those questions on mind on how the heck they do consider out on such way or method on which it is really that impossible that you wouldnt really be able to see those risks that it could give out. There's no way that you cant be able to realize and able to picture out about into those possible results or outcomes on which it could cause up that
such devastations if things doesnt turn out to favor you and this is why its never been that ideal that you would be coming up into this solution on which instead on solving out your debt problem
it would really be making such worst on the time that you would really be losing all the capital that you do make use on which it would be that better if you do make it use on more viable
way rather than or in compared with gambling.

JoyMarsha

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Someone who is very eager to fix a problem will ultimately produce more issues for themselves, which they will later come to regret because they committed a wrong move with a faulty perspective and logic.

Your friend has committed the worst error of his life by believing that gambling with his money will provide him the fortunate charm he needs to pay his rent when his friends fail him financially. However, allow your friend to live up to the worst mistake of his life, let him understand at this time that using money intended for important things for gambling purposes is never a good idea.

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

To acquire a loan is not still the best way to pay off an existing debt because it comes with interest. Let your friend sell off his valuable properties to pay off the house debt or he should find a friend that would accommodate him for the time being while he looks for a job that pays well

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Quote from: the rise on February 04, 2024, 06:26:42 AM

Anyone who gambles uses money that has a special purpose by thinking that by putting it into gambling it can be multiplied quickly. I'm sure the results will end badly. Don't use money that is of interest in gambling, but use more money that you have or can afford. If you lose it, it's best if you want to pay off your debts, it's better to sell valuables or get a loan, and stop gambling first

It's sad to see these stories of people who don't have money and want to improve their situation so much that they decide to take a loan and gamble with it. It's like they can't see any other way out. This always reminds me of people who decide to kill themselves. They also can't see a way out and the only thing they can think of is ending their life because it makes the problem go away. The man in OP's story needed someone to show him the way and tell him that betting borrowed money is only going to make things worse.
I've never done such a thing, but I'm a thinker and a planner and I often let opportunities pass me by because I take so much time to think about possible outcomes, but this also makes me safe from mistakes like the one we're talking about.

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Quote from: Porfirii on February 04, 2024, 05:59:42 AM

Those who have debts should realise that gambling is an expense, like many other amusements. If they are in financial trouble and they decide to play in the hope their problems will evaporate magically instead of making a realistic plan to tackle the situation, that's daydreaming and a non-responsible behaviour.

Exactly this is what I tried to write in my previous posts. The problem is, gamblers always come with a mindset that they will hit a jackpot or their luck will favor this time and they will be able to multiply their bank roll and it will be enough to pay their debt. I don't know how many times I have borrowed from my casino friends like bro, could you tip me $20, will send you back.

Most of the times, I lost it and I had a make a deposit again to pay the debt and sometimes I have deposited a little extra to gamble more. Sometimes, I were able to multiply my deposits which encourages me to do the same thing again. But, we cannot repeat these thing everytime, right?

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Quote from: invo on February 04, 2024, 06:21:21 AM

It's not impossible unless you are lucky. But the risk is too high, instead of having money to pay debts, if it is suddenly lost in gambling, it will be an additional problem for you to think about, That's a fact that anyone should think of. If the money you have is supposedly used to pay your debts, whatever happens, using it in gambling should not be done.

But it will be difficult for them to get that luck. We know that luck will not always come when gambling, but that doesn't stop them from chasing wins. But if they borrow money from other people, they will only make the problem bigger where they will also have difficulty paying off their debts, especially if they experience loss and lose all their money. We should gamble using our own money rather than borrowing money to avoid even bigger problems. But if the money you have is limited, you should not think about multiplying your money by gambling because that doesn't guarantee you can make money, especially since gambling is just for fun.

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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

You have to be so addicted to gambling for you to consider gambling your remaining money that is intended to pay debts, and you are desperate and you have no one to turn to consider gambling because in gambling there is no uncertainty, it's never a bank that you can withdraw your money.
There's always a way but gambling is never an option, if in the past you are lucky to win or double or triple your money it's not every day you can do that so it's never an option for you to risk your money.
I have a friend who plans to do that because he cannot pay his tuition so I just talked him out and we all helped him by contributing money so he can pay his tuition we should never consider gambling its for entertainment only and the money that you will use should be considered as money that there is no guarantee to come back.

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Quote from: Peanutswar on February 04, 2024, 07:30:40 AM

Playing gambling just to pay a debt is not the best ideal thing to do because you seek another money again and if you lose that money you will not pay the debt instead you pay at least a partial of your debt, it was a risky decision, but of course we cannot deny still there's a chance but not as successful it is if you win you can pay the debt but it depends on the mindset of the gambler if they gets greed and continuously losing the win money instead they get settle its getting worst. For me its better to pay debt immediately before enjoying playing gambling.

I agree with that. Whatever debt it is, pay it first. Partial or just a bit of percentage of that debt, it's okay as long as it is moving so we won't be buried with more debts. Gambling the supposed to be payment for that debt might become the stupidest decision we will make. If it loses, we end up with nothing instead of paying half of it.
There are those who will agree with whatever amount as long as they receive something and I think that's a good thing for both ends. We cannot put the money that is meant for something else at more risk. Just imagine how much tension there will be if we will gamble money that is already set for payment of other things. Being in that position can cloud our decision making so it's not the ideal way to do it because we are not thinking straight.
I've seen people who are successful at doing this but those are rare stories. It's better if we don't read them because they will be the ones who will add more urge for us to gamble the important money.
I think I've done this before but I learned my lesson. Not debt, but money that is already set for the electric bill. It was the worst feeling after losing it, the only way to straighten it up is to get a loan and so I made a debt because of my unwise decision.

FanEagle

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It is clear that we are not going to really end up having any benefit from gambling, not financially anyway. Maybe your mood can change, but even that could be for the good or for the bad and we do not know which one it will be. So, it would make more sense if we could just ignore all of that and not gamble when we have debt.

People with debt should focus on paying off their debt first, that will always be the most important part. Do not be afraid of debt, it can be a good thing, it can be a driver, you need to just focus on doing that, and when it is paid off, you will realize that you could actually save that much now, because you were paying it anyway, and if it's all paid, now that you have no debt, same money goes to savings and investing later on. Then when you get richer, start gambling for fun, with amount you could lose.

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Playing gambling just to pay a debt is not the best ideal thing to do because you seek another money again and if you lose that money you will not pay the debt instead you pay at least a partial of your debt, it was a risky decision, but of course we cannot deny still there's a chance but not as successful it is if you win you can pay the debt but it depends on the mindset of the gambler if they gets greed and continuously losing the win money instead they get settle its getting worst. For me its better to pay debt immediately before enjoying playing gambling.

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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 what happened when you lack knowledge of what you are doing. Not only your friend but majority of people are out there with this mentality about gambling. Gambling is designed in such a way that when you play it, you get yourself entertained and probably win money if you are lucky but this days, people totally ignore the entertainment part of gambling and see it as an avenue to make money. Making money is part of gambling actually but that should be the last thing in your mind because you would eventually get disappointed if you put it first.

Seeing gambling as a way to make money is understandable to some extent if you are using your own extra money to gamble. By extra, I mean money not meant for important things like foods, house rent, health care services or anything vital. Borrowing money to pay house rent and then using the money gamble so you can multiply it before paying your rent is a very silly and fooling decision. Every gambler knows the probability of losing is always higher than the winning and you could lose everything in a second. Your friend dig his own grave and he should burry himself.

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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

He put himself in danger, though, and he got into problems fast. His search for a solution simply made things worse, despite the fact that he believed that gambling would provide the solution. Gambling, as everyone knows, is a type of risk-taking that entails a great deal of uncertainty. Indeed, gambling can bring us financial gains, but it can also cause us to lose our money. Since the house always prevails in the end, the odds are actually always stacked against us, the gamblers.

I believe it is extremely dangerous to use gambling to pay off debt, and your friend should be aware of this before making a snap decision. because it may result in a debt cycle that is hard to escape. Therefore, I believe it is preferable to concentrate on effective financial management strategies and create a plan to gradually pay off the debts he owes.

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Quote from: Porfirii on February 04, 2024, 05:59:42 AM

Quote from: Viscore on February 04, 2024, 05:42:01 AM

Quote from: Y3shot on February 04, 2024, 05:35:49 AM

Gsmbling is not what you can depend on to realise money to pay of debt, because at the this point the state of mind will be so desperate and you won't be able to reason way. At the point going into gambling, you are trying to create more debt for your self because gambling is not what you need to depend on because it is unpredictable. Gamble is supposed to be played without having much expectation of making money quick from it.

It doesn't mean it's impossible to win in gambling or to pay off debt from gambling. However, if we are responsible enough, we know that we are taking a high risk that our chance of success is very low, at least based on the majorities experience. As experts said, majority of gamblers losses in the long run, so that reality alone is already against us, however, if we do have the skills then we can certainly make it possible to succeed.

We know ourselves better, and we know if we have the skills to be profitable in gamblng, because if we only believe and relied on luck, then we should forget this stupid idea.

Those who have debts should realise that gambling is an expense, like many other amusements. If they are in financial trouble and they decide to play in the hope their problems will evaporate magically instead of making a realistic plan to tackle the situation, that's daydreaming and a non-responsible behaviour.

Odds are against them, and also their state-of-mind due to their frustration because of their bad situation. But even if they won, I don't think that's a good thing either, because the next time they have problems, maybe bigger ones, they will trust in their luck again, and in the end it is almost unavoidable to get their fingers burnt.

It's probably due to desperation. When a person are on that situation, he is not afraid to take a higher risk just to solve the problem. People want instant solution on their problem because we know that money is freedom, and if we have pile of debts or we are drowing on it, that means we are losing our freedom. So gambling could come up to their mind as a solution to the problem, it's a high risk attempt but if they are lucky, it will solve the problem right away, and they can still enjoy if it has some extra. However, as mentioned, the success rate is quite low, so it's not advisable to try this.

the rise

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Anyone who gambles uses money that has a special purpose by thinking that by putting it into gambling it can be multiplied quickly. I'm sure the results will end badly. Don't use money that is of interest in gambling, but use more money that you have or can afford. If you lose it, it's best if you want to pay off your debts, it's better to sell valuables or get a loan, and stop gambling first

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Quote from: Viscore on February 04, 2024, 05:42:01 AM

Quote from: Y3shot on February 04, 2024, 05:35:49 AM

Gsmbling is not what you can depend on to realise money to pay of debt, because at the this point the state of mind will be so desperate and you won't be able to reason way. At the point going into gambling, you are trying to create more debt for your self because gambling is not what you need to depend on because it is unpredictable. Gamble is supposed to be played without having much expectation of making money quick from it.

It doesn't mean it's impossible to win in gambling or to pay off debt from gambling. However, if we are responsible enough, we know that we are taking a high risk that our chance of success is very low, at least based on the majorities experience. As experts said, majority of gamblers losses in the long run, so that reality alone is already against us, however, if we do have the skills then we can certainly make it possible to succeed.

We know ourselves better, and we know if we have the skills to be profitable in gamblng, because if we only believe and relied on luck, then we should forget this stupid idea.

It's not impossible unless you are lucky. But the risk is too high, instead of having money to pay debts, if it is suddenly lost in gambling, it will be an additional problem for you to think about, That's a fact that anyone should think of. If the money you have is supposedly used to pay your debts, whatever happens, using it in gambling should not be done.

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Quote from: Viscore on February 04, 2024, 05:42:01 AM

Quote from: Y3shot on February 04, 2024, 05:35:49 AM

Gsmbling is not what you can depend on to realise money to pay of debt, because at the this point the state of mind will be so desperate and you won't be able to reason way. At the point going into gambling, you are trying to create more debt for your self because gambling is not what you need to depend on because it is unpredictable. Gamble is supposed to be played without having much expectation of making money quick from it.

It doesn't mean it's impossible to win in gambling or to pay off debt from gambling. However, if we are responsible enough, we know that we are taking a high risk that our chance of success is very low, at least based on the majorities experience. As experts said, majority of gamblers losses in the long run, so that reality alone is already against us, however, if we do have the skills then we can certainly make it possible to succeed.

We know ourselves better, and we know if we have the skills to be profitable in gamblng, because if we only believe and relied on luck, then we should forget this stupid idea.

Those who have debts should realise that gambling is an expense, like many other amusements. If they are in financial trouble and they decide to play in the hope their problems will evaporate magically instead of making a realistic plan to tackle the situation, that's daydreaming and a non-responsible behaviour.

Odds are against them, and also their state-of-mind due to their frustration because of their bad situation. But even if they won, I don't think that's a good thing either, because the next time they have problems, maybe bigger ones, they will trust in their luck again, and in the end it is almost unavoidable to get their fingers burnt.

Topic: Pay off DEBT by do Gambling? think again before you loss more - page 8. (Read 1971 times)