Topic: Quit gambling and Invest in gambling. - page 5. (Read 1479 times)

My initial advice for the OP is similar to yours, the risk is high doing a business like this, regardless, I don't even like the sense of it at all for it's tantamount to exploiting the problem of the gambling addicts.

Come to think of it, the fact that a gambler could approach you to borrow money for gambling purpose shows that the gambler is not with his senses anymore and a very good reason not entertain this act, it's very risky businesswise. Fine, some gamblers might borrow money from you and pay as and when due, but I'm certain that most would not pay you because they would rather prefer to play more bets with the money they have than to pay you back. This makes the risk so high for the person that would be borrowing gamblers money, those who are borrowing  the money can't be responsible, if they are in the first place, they should know that they should gamble alone with the money they can afford to lose, which is their extra money, not the other way round. And for them to have come to you to borrow for gambling shows that they've already crossed the red line in gambling addiction which makes your money not safe with them.

I for most of the times would never borrow money from a stranger,even if you promise that it will a notary contract and will abide by all the laws of the country if you will do it locally in your city and I think most gamblers would not go this route,they don't like notary contracts.You will also be faced with a lot of possible "scamming" gamblers,the ones who will get the money and you will never see them back,they will most likely sign the contract with false documents as addicted gamblers can do this and much more worse.

If you go online the scam zone would be even bigger so for your own benefit and to spare some stress to yourself you better don't do it.

I don't think this is the best investment you can make with your money. Why would you lend your money someone that has no more money and still wants to gamble? First of all, if they lost all their money through gambling then their strategies and risk management is not really the best and the chances are high that they are just going to lose all your money as well. Making a contract and requiring interest is a good thing, this gives you at least some form of protection. However, a contract alone is no guarantee that you actually will get your money back. Let’s look at the worst-case scenario where the gambler loses all your money and still needs to pay you back. What happens if he doesn’t have a job, or only a job that doesn’t pay a lot of money? Even if you go to the courts and ask for your money back, it could take years for you to recover your principal. In my opinion a better approach, if you want to invest in gambling, would be to look for a casino that is looking for a new partner and you could invest your money there. There will always be people trying to sell their shares in casino and if you have enough money, you could buy their shares.

Exactly. It can't be called investment since you're just giving yourself a headache once the gambler can't repay the money you lend. Maybe it's not your problem at all even the gambler lose, but think carefully if this person will able to repay you if that happened?

Lending money has always risk, even to those who will use the money for reasonable purpose like building business. Although it is risky as well at least the money won't be use in gambling since the outcome of the business will depend on how the person will work on it to become successful. Nevertheless, we have different strategy to gain and so if he consider lending money to gambler is an investment (since he's the only one who can say if it's profitable based on experience) so be it, that's his strategy.

Others have mentioned how risky it is, but I just straight to say that this is simply a bad decision.

I thought that OP wanted to invest in the casino itself, but rather the player. Regardless, both might be, in my opinion, bad decisions, unless you consider other investment options. Instead of logical planning as you stated, I think you misstep the risk parts, So I assume you haven't even considered calculating the risks. One concern is that you probably will have difficulty making a concrete agreement since the loan you offered is mainly an impromptu one. You are also still unclear regarding collateral acceptance. How could you target those who don't have a budget a collateral? That's absurd.

So I believe the whole thing is incalculated and a bad decision to make. Moreover, this kind of signifies that you have problems with gambling and not a discipline and responsible ones.

Don't make your quitting too much complicated. If you want to quit gambling then quit for good.

Investing in gambling by giving a loan to gamblers is not a good idea. Even if you have a written contract, how can they pay you when they get wrecked playing? Instead, use your money to establish a good business that fits your interest. It's fun to do business on something you really like.

Only invest in gambling if it's about building a gambling site but of course, you should be knowledgeable in that field first.

No need saying that it's a bad idea, because it's as good as saying that gambling companies should stop operating because of addicts. I understand that you both care for the well being of the addicts, who are not completely in control of their decisions. But, since it's business and he doesn't force them to patronize him, he'll still make customers and profits as well. Then the harm he cause to the players can still be tackled by his legal team. Though, to the gamblers he's meeting, they may like his idea, regardless of the mental state they're passing through. As they'll like to continue playing games and testing their luck. Thereby risking themselves deeply at the mercy of the loan shark, who now controls whatever outcome they get after taking the loan. Nobody knows what individual players reactions would be when they arrive to their right senses, after playing games and losing out the loan too. They could be some misunderstanding, as it's more painful, yet if he's prepared for such things he'll be good going in running his business. I once thought about it in my first response, how bad it is to encourage addicts to continue staking, when their pocket runs dry. Yet, on the second note, even the casinos don't care about this either. All they care for is their money. Hence, Op's investment idea, though sounds wrong, it's still a business. And since it solves a problem, would still generate him wealth. Even the casino owner can decide to collaborate with him, because it'll also fetch them more profits. A kind of win win idea for business men.

Anyone who brought up this kind of idea is literally saying that he wants to be capitalize on the addiction of some gamblers to make more income for himself while rendering most of the gambling addicts more useless than they were before he transacts with them.
When a gambler is losing his money and wants to recover it by all means, he's very likely to make  decisions that he wouldn't dare to make when he's not losing such as borrowing money to gamble while submitting his very expensive belongings as collateral with terms and conditions that wouldn't be favourable to him. I think it's inhumane to be doing such thing all in the name of investing in gambling.

That is what I think as well, he even pushed that person, that gambler to become heavily addicted and compromise more of their finances.
It was a profitable business as per see but yes, it was not a helping idea that helps someone who falls into addiction will stop and realize their doings instead, he used to feed them with his money and loans and take advantage of the situation while these gamblers are hungry to win.
He is just focusing on a possible huge profit but misses the huge risk that he will face later.

Totally non ethical right? Taking advantage into those unfortunate souls who had wrecked out theirselves with gambling. Well, business is business and if he do find out that this one is profitable for him
then let him be, but for us people who do see for this kind of opportunity taking then it is really that something a little bit non ethical or really that opportunist on someones failure or bad condition.
Some might be seeing this to be not an issue since its business talks but majority would really be sharing up on the same sentiment that it is really that never been that a good thing
in our eyes on which you are really taking advantage of others.

Yes, we should be that focusing on making investment or business but this isnt the right way on having one, taking advantage is never been that
good for me.

I also don't support this idea, he takes advantage of gambling addicts who are experiencing losing bets to offer loans with a predetermined interest amount, they will take loans because they just want to have more funds to gamble and recover losses but their minds are not focused on the loans that must be paid high interest. I think he should stop the bad idea of how to invest in gambling which is wrong, he will create illegal actions from the borrower to pay off his loan and he also has no guarantee of being able to get the loan money back if the borrower flees to another region or country.

Since it's a business for him, I guess he barely cares about the addiction or debts of the gambler as long as he is getting his money back, but I wonder if a gambler would be able to repay the money or not if they lose the money they've borrowed. However, as OP said, he does everything after going through some paperwork or something and then he goes ahead and gives the cash to the gambler to continue gambling and maybe recover the losses which is like chasing a leopard on foot.

You mentioned that there are casino platforms that allow investment opportunities for a return of profit percentage from the bankroll, but I've not seen any modern-day gambling platforms providing this opportunity. I remember back in the day when most casinos here in the forum used to provide such opportunities.

If it's really easy to take advantage of gambling, then that's what everyone will be doing when they are no longer interested in gambling. If you want to take a break, just take a break, but I don't really know if there is any way you can take advantage of gambling. If you have the financial capacity, you can decide to start your own gambling site, which I know requires a huge amount of capital before you can do that.

Waw, this is serious. Just think about it. Don't you see it's a dumb idea? Why will you think the best thing you can do is to visit a gambling house, and you will decide to give out loans to people who have already lost everything they are gambling with? Did you even think about it before posting it here? How do you expect those people to pay you back? Don't you think they will end up losing the money that you borrowed them? And the worst thing you should do is borrowing a gambler who's already losing money to keep on gambling.

What you are trying to do will increase gambling addiction, which is wrong. I can say it's also going to increase the crime rate in society. If you give out a loan, maybe they decided to submit their mobile phone as collateral. If they lose the money, and I know they will want to get their mobile device back, they can end up doing illegal things just to get money to pay back your loan.

It's better you just get something else to do with your money. I am not in support of your idea. it's going to cause more harm than good to individuals and even to society.

If you want to gamble and borrow money, you shouldnt do it together. Doesnt it sound like a great puzzle? Giving a bettor money is like giving a child the key to a candy store: you hope for the best but expect... less. "Will I get my money back?" is the big question that everyone wants to know. There are a lot of stories about missing funds; they're almost as famous as ghost stories around a campfire.

However, lets not put all of our chips in the same pot. If there is a big win, what will happen next? Part of the win to refill the gambling tank, part to, say, do something wildly different. Thats revolutionary, right? Its great to be excited about gambling, but how about some smart planning too? Its kind of like a strategy game, but you use real coins. Remember to keep it fun and smart.

The reason why they or anyone else should not just lend money to gamblers is because of the high risk of gambling itself, gambling will always run randomly and there is absolutely no guarantee of getting better results even just to break  even unless you are really lucky. That's a fair and reasonable reason why they don't want to lend money to gamblers.

Honestly, I'm not sure that gamblers will be able to repay their debts, they have an activity to squander money hoping to get a bigger return such as winning, but that rarely happens because casinos are very happy if a gambler loses because that is the profit they are always waiting for. I'm sure they won't think about how to repay the debt but more likely they'll think about how to find the money to gamble again, if the  result is losing again then they'll continue to assume that. It's a horrible cycle  of gambling, you can't think of anything better than gambling. What often happens is that instead of paying debts, they come to borrow again for various reasons. So it's better to reconsider before it's too late and you regret not paying.

You should not have used those who are still gambling to make money; in addition, you are still lending money to losers, which will be extremely painful. How did you get your money back when you knew they were losers? You are not doing the right thing. Did you think those people were willing to keep gambling forever? If they didn't win any games that day, how did you get your money back? There won't be an easy way to get money, in my opinion. If you lend them money and they lose, did you think that would cheer them up and make them pay you back? If that's what you've been doing at the gaming ground, then you haven't stopped gambling, which is still taking advantage of people, in my opinion. I know it wasn't easy to stop gambling, but if you truly want to stop, try something different, not like this.

You are still risking your money and yourself, in gambling ground if things like this continue going on, it will definitely not end well. For this reason, we cannot compare gambling and investment because this that you are doing is riskier than gambling with your own money; in this case, you may even borrow some people money, that you may not be able to get it back. It would be best to just stop lending money to losers for your own benefit.

The only option you have is to invest in casino company stocks, I have come across such investment online but this isn't the most lucrative investment in the world, it's not as if you will make tons of money going this road, buying Bitcoin and holding will net you the best reward ever, I don't see anything that does it better than Bitcoin, this is why Black rock and others want the piece of the pie, right now crypto is the most lucrative investment.

If you don't like gambling or you feel like you are not making enough, the best advice I can give you is to build your own casino or just invest in Bitcoin, mind you, if you keep using what you can afford to lose on gambling your luck days will still come, you are free to make your own choice.

If you can't do any of this then find something you can invest your money on, most times I prefer something I can control but since Bitcoin is decentralized I don't have any problem investing my hard earned money on it.

You're simply taking advantage of people's insecurity weaknesses and trying to make money out of them and it is a very wrong thing for you to do, gambling is not bad but what is bad is when you are addicted to gambling and that is what we have been trying to stop and for those who are already addicted to gambling you're looking for ways to make them stop and you want to help them get more addicted, because every responsible gambling should at least set a gambling limit for himself and do his best to stick to those limits but if a gambler has no limits or actually has a limit but is unable to stick to those limits then it makes him an irresponsible gambler. With recorded so many cases where gambling has entirely ruined people's life due to the fact that they lack self-control or don't know how to stick to their gambling limits. How can you even think about lending money to a gambler who has exited his limits it means you just want to help the person to completely ruin himself. In my own opinion I think this is totally a very bad idea for coming from a very wicked point of view.

Yes it makes sense, and on the other hand that would be the problem, there is no way anyone would have the trust to lend money to gamblers even if it was his own friend, obviously there would be a lot of doubts about the money, and the first question would be "will he be able to replace my money", I'm sure that was the first assumption that came out of his mind, It will not be easy to agree with lending money to gamblers, because it is clear on the other hand with where the money will be used it is clear that it is a gamble where the final result will not always be in accordance with the wishes, the point in this case is very difficult when we borrow money from others to gamble, unless we lie by saying the money is for other needs.

And also yes, one of the reasons they don't want to lend is because there have been quite a lot of cases from other people that they couldn't get the money back, in the sense that the gamblers didn't replace their money. From that alone we can already judge that usually gamblers do not have good responsibility, especially in terms of the money they borrow. And also yes on the other hand if you (gamblers) manage to get a big enough win then it's better to put some of it for other purposes and some of it for gambling next time, it will help you in terms of money to gamble, it's better than you borrow again.

I'll put it to you that you're not adding any positive vale to the community or society by doing this. When you're possibly retired from gambling like you said, your duty should be to mentor the younger gambling community how to do it in moderation. Every football star on retirement does things to improve the image of football and encourage the younger generation on the right  path to success, find ways to improve or give valuable advise to those still playing at their prime. Your decision in the gambling world will only advance the negative impressions about gambling and note that you're  risking your life by lending money to a gambler that is addicted. If he cannot control himself and you give him money to play excessively and possibly lose, do you think he'll waste time to control himself before eliminating you possibly to free himself of the loan?. You are also exposing yourself to more betting possibilities and its very simple for you to return to betting actively to recover the money you lent out that didn't come back and that time desperation might set in and you'll be consumed in your own furnace.