Topic: Quit gambling and Invest in gambling. - page 7. (Read 1363 times)

In cases like this, the cashier is likely the last person to run after defaulting clients to get them to repay their loans. Most times and like banks, there is some sort of collateral in exchange for the loan and in the case of a default, the collateral is promptly seized.
In some cases where the loan shark was so lovely and understanding to give you a non collateral loan, you can be sure these people have their not so pleasant means of getting their money back. Certainly not a business suitable for just anyone.

I think this is a risky business but worth it. If you give a loan to a gambling addict who cannot control their emotions, they will most likely fail to repay the loan. However, this is not a problem if you always receive collateral from them because the value of the collateral will be higher than the loan amount you give them.

But I'm curious how do you do it? Will you offer it to those who gamble at the casino or will you rent a shop near the casino that provides fast disbursement loan services?

Investment might have risks but not as just severe when you are doing gambling literally. It is really just that someone who have decided to take advantage into those people who are really that having some huge losses on gambling or totally had been wrecked by it and still he is really considering them on giving out some loans? It is really just that too risky i should say because you know that they are on the situation that
have that problem when it comes to finances.If you've tried on giving them some loans on that point then most of them would surely be dealing up and agree on the % rate that you've been putting up.
If you arent that careful then you might be ending up on lending someone who arent capable on repaying those loans in time due to bankruptcy or whatsoever. You would really be needing that
in depth credit check before you can lend one on which it would really be that a common approach.

But that's what he's going to do and AFAIK, this actually happens in physical casinos where those rich folks that are in a losing streak and don't have cash with them but with their expensive jewelries, watches and cars are with them.

They tend to use those as their collaterals so that they'll have the money to gamble again and guess what? They're losing again until they're in debt.

The good thing that I know of, is that this isn't part of the actual casinos because if they do, it's actually a kill for their business if they also get into this lending business to their customers.

Unless you are the gambling operator and you plan on rigging the system in your, it is stupidity to even think about investing in any gambler. It proves that you have a not so good regard for money. There is no profit, the return on investment will be close to negative meaning you may even be in debts by the.

Some things you could do
Quit gambling - save money
Quit gambling - invest in bitcoin
Quit gambling - get a new hobby

@fullhdpixel to me I don't think there will be chances for gambler to have a good collateral, and it's a very risky business to do most gambler won't have anything to offer but they will want to loan to gamble. But op must first know the risk involved in this type of business before start up such service in the real world otherwise I bet he will always ran into lose because gambling is not certainly and anyone who lending money to gambler should know that before they will recover their money it might take time and if the games goes against them his money is off and it might take time for the borrower to pay him without a good collateral

If he want to lean money to gamblers and take valid and verifiable collateral from them, I do not see the problem, though. As long as he is not accepting stolen collateral or fake collateral, I do not know he is doing something illegal or immoral. It would be the same if I asked you for 100$ and I offer you 200$ in BTC as collateral, promising to pay the 100$ back with some interest by some established date.
Would you care if I intended to use the money to gamble if you are secured from the begginning in case of default?
Funnily enough, I have seen some members of this forum asking for loans directly on their casino accounts after providing valid collateral, it is a business and it is not against the law, so why not try?
Though, I agree with you it can be stressful to deal with gamblers in general, so is it dealing with drinkers, so one needs to evaluate with the stress of such business is worth it.

Winning is not guaranteed as you speak and I agree to that because no matter how a gambler can be so watchful he will still lose in gamble, gambling is risky for those that do not gamble for fun but for profit making.
However, the op is still gambling in another form because borrowing money to a gambler that has lost all his or her funds in gambling is way more bigger than gambling, the gambler can not win to pay back the borrowed money because there is no guarantee in gambling.
Still on still, as the gambler have to pay back the loan with profits that is what really make it difficult for the gambler to win and pay back because he is she will put in mind that he's owing and he will want to win more money so that he can pay back the loans.

That's easy. He can ask those gamblers first if what are their sources of income. If you think it's decent, you can allow them but if not then don't. In the lending world, there is also what we called " collateral " . We can talked about it and if we think they have a good collateral that in case they can't pay, we can sold them equivalent to the repayment value or higher than it, then we can proceed. At first, I thought the OP is referring to the " invest in the casino's bankroll ", but I didn't expect that he is going to talk about lending money. Both of them are still good anyway, especially investing in the casino's bankroll. As we know that casino's always win.

It is never better to get involved with people in gambling when it comes to money. You can’t give them loans, make deals with him, or invest in their game. I don’t even recommend baking in poker to anyone. Ultimately, all this will most likely lead to loss of money. If the OP cannot cool himself down and completely leave gambling without coming up with this kind of idea, but by investing in a real business not related to gambling players, this will be much better.

This is actually a nice idea for OP, because giving loans to gamblers with no collateral is as risky as staking on a game that you have doubts about even winning. Those gamblers who collect the loan might still end up losing their bet and will not even have any money to repay the loan they take. OP is just taking a big risk with such an idea, and it will be more profitable to him if he can look for a business to invest that money in. Even if his level of profit is not that huge, with time he will grow the business and his profit will increase.

No one can guarantee winning in gambling no matter how expert a gambler he is.  So it is very foolish to invest on any gambler.  Gambling should be used for fun only so to get the full fun of gambling you have to gamble yourself.  If a gambler intends to invest in it, it will do more harm than good. So no sane person would ever support it.  And I don't think anyone who thinks they can profit by investing in a gambler is still living in a fool's paradise.

Consider ethical and practical implications. Lending to gamblers, especially losers, is morally questionable. It's benefitting off others' misfortunes, right? In a climate of chance and desperation, are these collaterals and agreements reliable?

Why not turn your gambling knowledge into consulting? Provide responsible gambling advice, tactics, or workshops. This way, you're investing financially and helping the gambling community. It's a sustainable paradigm that promotes discipline and responsibility without abusing others' shortcomings. Why not be the house in a positive way as the house usually wins in gambling?

To everyone who had contributed to my aired aspirations, I duly appreciates you all for your contributions are all put to considerations.

These are some features of the laws governing money lending organisations in my country according to my primary research in the Google (internet)after most of you all had put emotional tensions (fear) on my intending quest.
* Licensing: Money lending companies are typically required to obtain a license from the relevant state government to operate legally. The licensing process may involve meeting certain financial and operational requirements.

* Interest Rate Regulation: State laws often impose limits on the maximum interest rates that money lending companies can charge borrowers. These interest rate caps aim to protect consumers from exorbitant interest charges and predatory lending practices.

* Disclosure Requirements: Money lenders are usually required to provide clear and transparent information to borrowers about the terms of the loan, including the interest rate, fees, repayment schedule, and any other relevant terms and conditions.

* Debt Collection Practices: State laws may also govern debt collection practices, ensuring that money lending companies engage in fair and ethical debt collection methods and do not engage in harassment or intimidation of borrowers.

* Consumer Protection: Money lending laws in Nigeria often incorporate consumer protection measures to safeguard borrowers’ rights and prevent unfair practices by money lending companies.

* Business Conduct: Money lending companies are expected to conduct their business in a responsible and ethical manner, adhering to the laws and regulations in place.

Technically, I tend not to bring about anything pertaining gambling on my agreements with the borrowers (gamblers).
If I am not able standing such an organisation myself yet, I think of affiliating with a functioning one already existing.
Hence, I am also going to consider dealing with reputable gamblers whom I am certained to payback to secure my funds. I also believe the law would profer me backups at the stake to any collateral deposits.
With the above, there is no need pulling muscles in demanding for a payback of my fund as many of us my insight.
However, I putting every DOs and DON'Ts in considerations about my thoughts. And then I will also consult with a consultant at my readiness and then I can decide to kick-in or kick-out of my opinion.

I am just a layman that just got inspired about this though.

It can be said that this is one of the most dangerous types of investment ever, especially since it cannot provide any type of guarantee capable of preserving your rights as a lender. The most clear evidence of this is all the lending services run by members here on the forum or on other forums such as Reddit. They do not grant loans without collateral to gamblers or those who intend to gamble with the borrowed amount.
If you intend to ask for collaterals, I do not expect this to encourage anyone because the borrowing gambler will have exhausted all solutions, including the assets that he can offer as collateral.
I will suggest to you the idea of investing in one of the gambling platforms that provides the possibility of participating in the liquidity pool in exchange for a percentage of the platform’s profits. This may not generate large profits in a short time, but it is one of the most reliable solutions if you choose the platform well.

Beware of default!

You, being a responsible player, know that many people bet everything they have and also what they don't have in gambling, so if you are going to invest in players you need to have a good guarantee first, otherwise your investment will gradually be lost. .

I don't know if this is a good business, because generally those who need money are those who can't get good results in games and therefore will have great difficulty making a profit to be able to pay you.
On the other hand, anyone who is a good player and knows how to make a profit will hardly need an "investor".

And how are you going to force the losers to pay you the loan back, if they don't have any money left after losing every single penny gambling? This is a very bad idea of business... Someone willing to lend money should focus on successful and promising borrowers, not losers. That is the recipe for failure, in my opinion. If you want to make profit by investing in gambling, you should lend money to the casinos, not to the players.

Casino bankroll investment used to be a very profitable investment category years ago, but now the options are scarce and unprofitable, due to the casinos having this feature available not enjoying a decent traffic and bets volume on their platforms. But I remember investors could make 50% profit over their investments yearly previously this way. Those were good times which don't come back anymore...

That's sounds looks bad to me. I would personally say that you are indirectly gambling your fund as well as taking a lot of risk. Moreover, you are encouraging an addicted gamer to increase his addiction. If you want, you can start a lending service, but there is no need to target only gamblers. There is no guarantee that people will always win and be successful in gambling. It may also happen that those to whom you give loans may face a big problem with the burden of more loans. Those who do not have the budget for gambling should refrain from it. Because one should never gamble without having the ability to lose.
Moreover, I have seen many people around me who gambled, got into a lot of debt and later ran away from their homes. As a result, all those who gave him loans are now in loss. So my suggestion to you is that you can start your lending service but here you have to reverse your strategy, give loans to those who are not addicted in gambling.

I don't find that to be a viable investment option because there is no limit on a losing streak a gambler can hit, and someone who has already exhausted their bankroll because of constant losses will lose this money as well and won't have anything to pay you back that too with interest or whatever agreement you make with them. Lending money to gamblers is a bad idea, in my opinion, because you will barely see them winning anything with that money and at the end of the day, you will see them having empty pockets and nothing to pay it back.

Those who lend money to continue gambling are also making a grave mistake because if you have lost your own money, there is no guarantee that you will win with the borrowed money and at the end of the day, you will get yourself in trouble since once you lose everything, you won't be able to repay the loan.

So basically you're doing loansharking which is pretty illegal because lending and lending companies shouldn't be inside casinos or gambling houses right? To me, what you're doing OP isn't investment but more like opportunism or exploitation, that's how it looks to me though because you approach those that are losing their money already and in a way enable them to gamble more using your own money which will only make things worse for them and you know it and you still do it because it's easy money although the pays take a long time.
It is a terrible idea, and as you've already said, OP is doing what loansharks do and I am really amazed at the gall of OP to say this online, is OP lacking self-awareness or something?
OP knows they'll pay the loan, I am sure that OP is a loanshark with how OP is able to explain the lending service that OP offers, it's not and investment or a gamble because OP will be able to get the loan back, by hook or by crook. Also, I don't think believe it's not going to work because OP wouldn't share this if it's not working.