Topic: Quit gambling and Invest in gambling. - page 2. (Read 1479 times)

What are the ways we can invest in gambling or quite gambling? Gambling is all about individuals effort to bet on a particular games with the goal of making profits from it. Sometimes even though we keep gambling for a long time, we might not still make profits from it. We could be making profits and loses at the same time which can not be categorized as profits after consistent estimation of how much we had lose and made from betting. It is good for us to defined how much we are making and how much we had lost so far from betting. This will help us to know what is happening to us and how to utilize a better means to make profits.

I don't think so. That's a wrong assumption of how lending works. They let other people borrow money from them because they know they can make a profit from it. Either it's from the collateral or from the interest they will make especially if a borrower cannot pay on time which will make the interest increase on however it was discussed in the contract.
Not all lenders are gamblers just because they let a gambler borrow money. There's a possibility that they are just taking advantage of them because they know they can easily pay when they win or they will borrow more until the interest climbs up. Lending is a business about making more money in an easy way but the high risk is there because of the chances that borrowers won't pay which is why collaterals are needed.
Well, as long as the value of the collateral is enough to equal the loaned amount then it's going to be okay. But I doubt they are gamblers because they are already in a high-risk business so why waste money in gambling if you know you can make more by just continuing the business?

Usually these two things are being look upon by a lender before money is disburse.

1- source of income (to determine the capacity to pay)
2- Collateral ( in case borrower will mess up)

So there's still a level of security favorable to the lender, they are in the business like this, so we can expect that they know what they are doing. Further, there are other lenders who offers huge interest, and your life is your collateral because if you fail to pay as promise, you know what to expect.

If people can think about how they can make money and it's not from gambling but from creating a business or even investing, they will see that they have more of a chance of making money from that than from gambling. They must at least stop gambling first to start investing and the good news is that they can use crypto casinos to start investing because now there are crypto casinos that provide investment features to them. For that reason, those who want to lend money to gamblers should not do it because the business might run poorly. If they use online casinos, they might run away because they cannot repay the loan money. And even if they want to lend it to offline gamblers, it's also best not to do so because they need to know whether they can get collateral that matches the money borrowed.

I don't understand why a person will lend a known gambler without providing a source of income?

Those lenders must be crazy if in fact that they're going to lend people money without the valid proof that they can pay it and if they're going to tell that they'll use it for gambling. That's a wrong thing to do.

But you're right, that if a lender provides loan money to that gambler. It is not guaranteed that he'd win with that money and will just make the situation worse.

The first point of battle is battle against one's self and this could possibly be the most toughest battle even though the gambler is willing to quit it has to do with a lot of effort and wellness from the gambler himself to be able to defeat that tendency,  first, one need to have an effective approach to this and in doing that also you have to be convincingly ready to quit the addictions or act.

I can't imagine myself,  quitting active gambling and then embracing the gambling business even if I have all the experience in the world to work with,  many times our experiences may be based on the wrong approach and going with such a mentality will only lead to more devastating outcomes.

Properties are sold for the purpose to settle debts owed by a gambler or to raise money to gamble. There's nothing hidden again because we've seen numerous cases were gamblers are considered too discreet about their activities and will only yell out when they're on the verge of losing heavily half of or all of their assets. It's consider too late for most gamblers in the system because they're already categorized as addicted gamblers and they're facing their own challenges in the system. It's a normal thing, everyone have what they are bother about and I don't think we should disturb anyone if they don't feel like telling us their problems.

What an interesting business idea! A disciplined and responsible gambler who is willing to make money from reckless and weak gamblers who obviously need help. I believe the OP is disciplined and responsible as he said and also knows the implications of lending money to gamblers, especially those who are battling with addiction.

While I see those who borrow as irresponsible gamblers, It is even more irresponsible for anyone  to try to make money from people at their vulnerable state. No gambler who knows what he is doing will take loans to gamble, those who would want to get loans to gamble with have gambling problem and can do anything to make sure they gamble. These people are addicted, giving them loans to gamble will  cause them more harm.Aside that, the chances of recovering the loan and interest from them is very slim. No matter the collateral involved,  majority of these gamblers who would want to access these loan would not be able to pay back if they are not lucky enough to win.

Basically this has become a cycle that will continue to run if the gambler cannot be firm with himself to stop or at least just reduce his gambling activities. There will be no end to gambling involvement because someone who is already addicted will always have a way or even explore many ways just to realize their desires and curiosity about gambling, as you discussed here they are willing to pledge their professional assets or homes just to realize their gambling desires.

So when your hopes and expectations are getting higher and higher in terms of the end result that can make you smile then don't be surprised if people are even willing to do stupid things like that, so it might be very difficult if we just tell them not to be too much because they won't listen to some advice from others and they only focus on their own beliefs. So it's probably too late if you're already in that position, not least because you started with the wrong approach and understanding, simply put "when you lose you get curious and when you win you get addicted" that's gambling.

Yeah, I think in those cases,  the collateral is the main aim of the lender because they already know how hard it is to win in gambling and at that will already know that it is almost near impossible to get the loan money back since the gamblers will have suffered a lose from the games,  and will not be able to make repayment of the loan so for sure the lender will have only the collateral as the only available means of getting their repayments back.

Sometimes,  most of those gamblers are already addicted and at that will use even their house or other landed properties as collateral and If they fail to make repayments for the loans,  they automatically forfeit their properties,  so for much as it is given as loans,  it somehow an unknown trap for the gambler to lose something bigger because no lender in their right senses will loan money to a gambler to gamble with without having collateral.

But if someone is ready to provide collateral for a loan that is supposed to be risked in gambling, what kind of collateral are you talking about? If it is in cryptocurrency only, most cryptocurrencies could be used on many web casinos anyway.

I have also got another question for you regarding morals: what would you do if someone hands over his wedding ring to you as collateral? Let's assume the value is known. Would you take it and lend that person money to keep gambling? Where would your moral limits be when you already provide a business that only people in deep trouble would attend?

Let me say you are scattering points altogether, and for clarification, I believe what @rachael9385 says, that anyone who is avoiding gambling but loaning gamblers his money is also gambling. This is not a direct definition of gambling, but technically, such a person is gambling as the gamblers who could deem it feet to use the amount that is not advisable to gamble for the purpose may not pay back the money.

To access a loan for gambling is just out of sense and the person engaging in such an act is irresponsible. Now tell me, how would irresponsible people pay their loans? They will prepare to gamble more with it. Fine, some would pay it but I can assure you that the percentage will be little compared to those who accessed the loan. This is dangerous, and to make matters worse, the loaner still didn't plan collaterals as a condition to get the loan, this is unwise. No matter what makes you think that he has other means to collect the money, the defaulter will be many, and loan default is not a crime under the law, again, the table is still not in your favour here. You can also see this with many desperate loan companies that do not collect collateral, there are enough defaulters, which is why I can't ever engage in such a thing. It might be smart to give gamblers loans by investing in their weakness but it's bad for businesses not to have something to make them accountable for the loan taken.

And some gamblers come because of the encouragement of their poor financial situation, are you saying that people who don't have money won't gamble? No my friend, in fact lately I have seen many who come and get involved in gambling because of the encouragement of their poor situation and their goal is to earn, they think that gambling is a place that can provide them with income, and also besides that like you said even though they don't have money but it's not the end of the world, they will not run out of ways and one of the alternatives they usually take is borrowing money from anyone who they think can provide a loan.

They think that borrowing is the best alternative they can take when unconsciously it is the beginning of a much worse end. Over time it will become a cycle of borrowing that will never end, playing and losing and borrowing again with the intention of returning the defeat the previous time as well as to pay off the previous debt, just keep going like that indefinitely, and they will really realize when the debt is as high as a mountain and gives them enormous pressure from the situation, so if you don't want to get into debt like them as a result of gambling then the only way is to lower your expectations of winning and don't overdo it.

Yeah I like your point because we are very much aware of the risk associated with lending money to people especially the gamblers whose most of them has a zero chance of repaying the money, so however after considering this risk what most lenders normally do is that they will make that money they intend to lend out to have a legal binding in such a way that the borrower will have to sign a writing documents that if he fails to repay when the time is due for payment they will necessarily have the right to cease there property or sell it if they fail to meet up with the time being given.

So the only way some kind of risk that's associated in lending will be reduced is doing it with a legal binding because with legal binding you could only spend a little money but the law will make sure your assets is well secured because before they will release money to any borrower the borrowers most provides a collateral that if he fails to fulfill his agreement they will take over his property.

This is on point.

In gambling, it isn't really guaranteed to make a win everyday. There will really be times that you will have high, low, and no profit at all. With this, it's important for an aspiring businessman with loaning as business to think of ways on how to manage the risk of not being paid on time. There shoulf be some sort of collateral damage that could be taken if ever worse things happen. Although I'm not really in favor with this kind of business, but I guess to each his own. If you really want to pursue this, you must be open to every possibilities. You must have a back up plan to keep your business running and profiting.

Right mate this idea is completely wrong there are many gamblers who cannot gamble regularly due to lack of money and then they will be less inclined to gamble. In that case doing something like lending will make the person worse off. Who will guarantee it or who will get the loan back? Gambling depends on luck and never able to get money back if you lose. As the debt burden continues to increase as time goes by it is better to find a way to manage it rather than creating conflict between the two. Here the casualties will be less and there will be nothing of quarrels and disputes.

That's right what you say because by lending money to gamblers, we are taking the risk of losing the money, especially since we know that in gambling, we will not always be able to win and make money. Those who want to borrow money from other people really have to think about what would happen if all their money was lost at the gambling table and they couldn't even return the money. They shouldn't borrow money from other people and wait until they have their own money before they gamble than to risk not being able to pay their money back. They can look for work first so they can make money that they can use to meet their daily needs and can also be used for gambling. It would be safer for them because at least if they lose, they lose their money and don't have to return the money to someone else.

Is there also said to be gambling on lending money with a legal backup? Definitely a lender obtaining an approval lending order from the authorities.
At this point, the lender remits some revenues as taxes to the in other to have that authentication of awareness.
Meanwhile... You only borrows to those with good reputations and colletoral is also considered so as to secure an unconfident relationship between both also as evaluating the gamblers potentials values to determine the who borrows status of endivoirs.
This is just how the amenities is situated.
Meanwhile... That is business and surely losses is liable to come.

Yes, lending can be considered as gambling, but there are significant differences: usually those who issue loans are well aware of the non-return rate and they take this into account in the interest rate on the loan. It turns out that, in a sense, honest borrowers pay for dishonest ones. I can suggest that in gambling the percentage of non-returns can be too high, so collateral is still the optimal solution.

You are right that the best way to gamble and can be said to be real winner is for those who can minimize expenses in gambling so that they do not exceed their means and disrupt the continuity of life needs.
Setting small budget will have the effect of saving money and being able to control one gambling activities, in fact, adopting an attitude like this can also have positive impact in developing financial management in real life.
There have been many statements and advice that are almost the same, but there are still many gamblers who fail to apply this attitude when gambling so that in the end they lose everything, including their savings and money for daily necessities.

My advice is just to always use money that has really been set aside for fun and don't disturb internal money or money for savings or family needs, that way every gambler will feel how they can accept every loss as form of payment for having fun.
And I believe that by implementing it, gambler can avoid stupidity such as forcing one abilities by going into debt.
Remember to never accept loan offer from anyone just to gamble or try to recover your losses because that will not help and will only cause difficulties in the future.