Topic: Quit gambling and Invest in gambling. - page 9. (Read 1363 times)

You seem to know this business because you are a gambler yourself but it is also important to do a feasibility study since this is a business where you are going to make a profit, check the legality, frame guidelines on who can and cannot avail and the most important is how to recover your loan even if there is collateral some collaterals lose their values over time. of course, it's a risky business because you are dealing with gamblers who are emotional about their losses.
The first few months are the most important, don't think twice about changing your business if you think that it's giving you losses and headaches.

If that's the case, this kind of business is not profitable anymore. Gamblers will probably ask for additional loans, that's for sure. Meaning, that as long as they have an asset to offer for collateral, they can do so. However, this won't go on forever, sooner or later problems will occur, and you will have a hard time asking for the payment for the loans.

Giving a loan to someone that is being used for gambling is not a good idea. The risk is too high. Even if a gambler has a contract, collateral, or even counseling to make them understand that the loans must be paid back, if he can no longer provide for himself, the loan will not be paid.

Some people don't care how they make money. They are open to even making people suffer or lose their belongings because of profit maximization. I can relate this kind of business to sitting at a bar and loaning people money to keep drinking knowing fully well that they are already drunk. Nobody will be happy to see his friends or relatives taking loans just to satisfy an abnormal behavior and I am sure that OP will not be pleased to be in such a condition. There are many other ways to invest in gambling than giving loans to gamblers. Starting a small bet shop in his location wouldn't be a bad idea. At least he could make some profit from it instead of his current ideas. If he wants to start a loan business, he needs to gather information because, from his idea of loaning money to gamblers, he would not be a successful loaner.

Such a business is quite profitable. but dealing with an addicted gambler will never go smoothly. Even though gamblers have collateral assets for the loans they get, more gamblers will simply ask for additional loans and the assets they own will belong to the lender.
Honestly, I avoid that kind of thing. especially if there are gamblers who borrow money to play without collateral. it will only harm us as lenders. but if anyone sees this business opportunity, and succeeds in doing it. I believe they must have power in the casino. in the sense that an ordinary gambler cannot easily build a business in a casino environment.

very good idea and I really appreciate the idea that you are doing this time but I have a different opinion.

you choose to stop gambling and you try to be a service to provide loans to losers who are in gambling and in my opinion it is the same risk as gambling and there are several risks.
1. you give a loan without collateral only with a concrete agreement, which means you can lose your money when the gambler refuses to return the loan and runs away to another place.
2. you were previously a gambler, not sure whether you were previously a compulsive gambler or a regular gambler. before you give loans to gamblers, you are at risk of wanting to gamble again. you are usually tempted by other people wins that you witness while you are carrying large amounts of money. of course you will be tempted to bet.
3. you accidentally lend money to a big thug in the area and after losing he refuses to return your money and if you insist on returning the money your life may be threatened.

some of the risks I mentioned have often happened in my area so I say this based on reality and initially I read the OP title, I thought it was giving a way to make a profit by investing in newly released gambling by buying tokens, etc.
for me, this method will indeed be very profitable quickly, but the risks are very big.

One of them would be to invest in casino bankrolls, always with reliable casinos. Or to buy casino stocks. That way you don't have to deal with the physical risk of going to collect in person from someone who hasn't paid you, which is more like a mafia job.

The idea is not bad, stop playing in EV-games to become an investor, with which you will potentially earn money, what is wrong is the approach, the "business" plan so to speak.

Yes, this is a good "business" model as we all know that gamblers are willing to take huge loan just to continue with their gambling habits. But in cases that the loaner defaulted, and the OP chooses to loan here in the community, how can he go after that defaulter? So it's very risk as well as we all but anonymous here. Unless the OP knows the loaner in real life, but still you don't know if he is going to pay after losing to casinos.


Yeah, that's what I'm saying, there is no guarantee, everything is risk. And with my experience to those people that make loan to me in real life, not for gambling. It's hard to chase them for payment and this people have selected memory, Lol, sad but true. Because when you are about to ask for payment, suddenly they will forget that they have a loan to you.

Trying to stop gambling but instead encouraging others to continue betting using the money you offer? If you really want to capitalize on gambling, that's not the way to do it. Investing in gambling in that way is very bad. Even if there is a contract on paper your actions are indirectly like a loan shark destroying other people lives and enjoying their suffering because of the demands that have been made?

What is clear is that this kind of action has no motive and is strongly opposed, any experienced gambler will not do business like this if he still has a conscience. In this context I agree with what @danherbias07 said he is a "Loan shark".   

This is a fantastic idea as I have seen where gamblers who are in dire need of funds to continue gambling tend to give out their assets in exchange for insignificant amount of money compared to what the asset is worth. Its going to fetch you profit even without rolling one dice.

However, I consider this measure one that will further extend gamblig habits to its extreme. You have control overs your but there is no guarantee that others do and when there are options like this that gives them credence to gamble then it gets them addicted to it.

So you want to give loans? not just to gamblers? Well in offline or traditional based casinos, I know that this is somewhat like a norm. There is someone, at least I know a old lady, who are inside the casinos and giving loans to gamblers that he knows and with a huge interest and a with a collaterals. But in online? Not sure though, have you seen the Scam Accusations board?

I mean there are members here, who even have a good reputation, making a loan of of course he will get it since he is a good and standing member of the community. However, there are cases that the individual suddenly disappear with a $1000 loan + interest that he defaulted.

Haha, this is a crazy idea, and you should know for sure that there are obviously going to be a lot (like many of them) of defaulters who will not pay you or clear up their debt, and you will not kill them by taken laws into your hands. The only thing you can do is get them arrested and jailed, if you win in court. For me, it's also a risk, which I obviously cannot think of taking.

You are already risking enough money when you started your business. Why not stop there? I wouldn't augment my business with gambling as much as possible, as these two should be separated and should not be mixed together. This is where your money management fail you, and it will fail you miserably especially if you don't know the meaning of self-control. Better start focusing on expanding your business and funnel as much funds as possible to that in order to make more money. I understand that more streams of income is good, but having one consistent stream while the other ones are draining from your pool is better by a mile.

Good luck on that business that you're about to start. I thought that you're plainly talk about the bankroll investments that's being offered by some casinos but no, it's not.

As long as you have collaterals that are higher than your loaned amount then that should be fine IMO. But still, I don't find this type of business safe although it is going to be lucrative if you know how to deal properly with those losers and if they're good payers.

Because usually, with the collateral, they will just mind that you should keep it and won't pay you anymore.

So you plan on being a loan shark? This kind of business is a risky venture since you are dealing with two (2) risks here:

• First, the gambler must win the money that you have lent them; and
• Second, the gambler must pay you back on the agreed interest rate and timeframe of the debt.

Again, these are two (2) concurring risks that can definitely increase the chances of you losing your money. Let's assume that the gambler won, but is the winnings enough to cover the debt he/she just borrowed? Sure, the gambler won and he/she has enough money to pay you back- but are they willing to pay you back in the first place? What if they decided to never settle the debt with you?

This may be a good idea in an ideal world but with all the risks involved, I think there are better options for you to consider than this kind of venture.

I agree with the earlier replies, you are venturing to a dangerous world if you start lending service for gamblers.  In my country, no one is jailed due to debt unless you requires the person to give you post dated checks, this way you can charge a criminal offense to the borrower.

Some people see it immoral but I do not mind as long as both party agree with the deal.  People looking for loan service and he provides it, it is a business between the two and we should not pry on it.  But for sure the risk of being not paid is extremely high because you are dealing with compulsive gambler here.  They might not save funds to pay you since all will be spent on gambling.  Asking for collateral is the way to go since more often than not, gamblers will not able to pay their debt to the loaner.

But if you wanted to have a better client, then offer your service out of the gambling world.  There are more client outside the casino unless you wanted to go underground and charge huge interest to gambler.

You should have a rethink on your decision as while it could bring about losses as well. Any start up is difficult to start and yours wouldn’t be any different. If anything, it would be more difficult to start and manage.
In order words, you can be considered as a loan shark who prey on the ignorant and others who, having made poor financial decisions, are in a fix and needs quick funds.

Your clients that you would give loans to won’t be credit worthy and you run the huge risk of running at a loss. Unless of course you’ve got some means of making broke people have money to pay back their loans.

casino is not the only business that he can explore with. find his other passions and he will be surprised at ideas he may come up with. if he will continue to lend those gamblers, he will soon find out how difficult it is to collect those funds esp if gamblers are on the losing side. even if you have arrangements with them. better ask for collateral to ensure that you will have something in return if the gamble won't respect your arrangement.
in my opinion, better look for another business concept outside of gambling. but let's see how soon he will find out how to deal with gamblers.

Are you joking? You're saying that you're investing in a gambler who "runs out of funds"? Run out of funds means he doesn't have any more funds for a certain reason, and I guess because he lost it all, then you were saying you were investing in them and relying on them to earn? How can you say that it's investing? Its like you are relying on someone who gambles, its still gambling, haha, you just let other people gamble for you, and its a very risky thing ", I will be lending my funds to the losers who have run out of funds and willing to bet more if they have more money." In this statement, what if the gambler you are investing in ends up losing the money you've lended? I get it, you have a deal or maybe a contract, but how can you be so sure that he can pay what you've lent if he loses all your money? It's a risky situation, and yet you think that you will earn more from it. If you want a profitable investment, then get out of gambling at all. If you know you can't earn using gambling, which is not what the mindset is supposed to be, then find other things that you can invest in that have a low risk, unlike gambling.

This is really an insane idea, and the worst people to lend money to are gambling addicts. Your illustration seems to be that all you are concerned about is taking advantage of those who can't control themselves. Instead of advising them to have a budget, you loan out money to them to sponsor their addicted lives.
 
Don't be surprised that even with the collateral that you might think you have secured from them as a means of getting your payment back if they don't pay, it might end up back in their hands or in the wrong hands because you are supporting and promoting someone's downfall, and the family of the person can decide to take some form of action against you.
 
I just picture this kind of idea, same as with those who sell their properties or lend out their properties in exchange for money that they could use to buy illegal drugs that ruin their lives. If anything is to happen to such people, they can come after you as someone who was backing up their behaviour.

If you want to profit from gambling, you can create your casino so that you don't have to gamble but can make a profit. You can indeed borrow money from gamblers who lose, but you have to think about whether the gambler doesn't have collateral that you can take when they really don't have the money to pay the loan.

It's better if you immediately stop gambling and divert the money to start another business. You will have the opportunity to make a profit from the business. And if you focus more on doing it, you can grow your business bigger.