taking out a loan for a sports bet | Bitcointalksearch.org

Theones

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Quote from: Gosgosking on June 12, 2022, 07:47:48 AM

Quote from: seleme on June 10, 2022, 04:44:12 PM

Definitely think twice before taking loan, there is no 100% fixed match and you can lose more than what you can afford to lose. What if, you take a loan and placed sports bet then it loses? Well, you have to pay back whatever amount you borrowed and it will be stressful day unless you are able to pay back soon. Just my 2 cents.

Taking a loan to bet is something that one needs to think twice be taking such decisions, no one can predict a result of a game. The risk in taking loan to bet is very high, it is under probability to win the bet.
If at all a loan should be taking to bet let it be the amount that will be easy to pay back without any stress.

Since I am very careful in lending and borrowing money. And I keep my financial matter very accurate. So for me doing a sports bet on the loan is a big no no for me. I would rather play safe and loose my own extra money rather than losing loan money and ending up in double debt.

Gosgosking

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Quote from: seleme on June 10, 2022, 04:44:12 PM

Definitely think twice before taking loan, there is no 100% fixed match and you can lose more than what you can afford to lose. What if, you take a loan and placed sports bet then it loses? Well, you have to pay back whatever amount you borrowed and it will be stressful day unless you are able to pay back soon. Just my 2 cents.

Taking a loan to bet is something that one needs to think twice be taking such decisions, no one can predict a result of a game. The risk in taking loan to bet is very high, it is under probability to win the bet.
If at all a loan should be taking to bet let it be the amount that will be easy to pay back without any stress.

ethereumhunter

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Quote from: seleme on June 11, 2022, 03:37:15 PM

Better safe strategy than sorry. What if he wins the match? Surely sounds exciting but chances are higher to bust that money you can't afford to lose as gambler. I can't even imagine losing money OP tooks as loan and can't pay then loses collateral. It will be nightmare and traumatic loss.

Instead of getting a big risk of losing the money, especially if it is borrowed money, it is better to manage the money we can afford to lose because the risk is smaller than borrowing money. I do not dare to take that risk because there is still a refund to the owner. If that happens, it might be the worst experience and it could be that we lose everything we have because we can't pay back all the borrowed money. So by using our own money and not from the loan, we can prevent from paying the money back.

_act_

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Quote from: Gianluca95 on June 10, 2022, 04:55:23 PM

Quote from: seleme on June 10, 2022, 04:44:12 PM

Definitely think twice before taking loan, there is no 100% fixed match and you can lose more than what you can afford to lose. What if, you take a loan and placed sports bet then it loses? Well, you have to pay back whatever amount you borrowed and it will be stressful day unless you are able to pay back soon. Just my 2 cents.

Exactly. Ask for a loan it is never a good idea. Banks are not stupid and you should put your home or something with high value as collateral, and you can risk to lose it for a match that you're also sure that is not fixed at 100%.

Even this could not be about if a match is fixed or not, going for loan to bet is stupidity. It is just a sign of addiction.

Quote from: Gianluca95 on June 10, 2022, 04:55:23 PM

So, consider what are you doing, and think about. Less gains sometimes means also more safety.

I do not believe in less gain if going for low odds is what you mean, it is even dangerous at time and there are different strategies used for different matches. I have gone for low odds all to know that it is riskier than high odds because the profit made is less and before you will make the profit for high odd, the money could have been lost.

STT

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Sounds like a plot to a movie, can I recommend for entertainment instead of dying and/or committing to bankruptcy you watch the Bad Lieutenant. In theory it can be taken as all about someone who bets on games using hot money and ends up worse for wear, luckily he is already a total wreck anyway so its got a happy ending.

KennyR

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Quote from: DoublerHunter on June 11, 2022, 05:57:59 PM

Quote from: Davidvictorson on June 11, 2022, 04:51:15 PM

Quote from: NAPK1NS_RA3 on June 04, 2022, 05:01:34 PM

recently I've come across some information for an upcoming soccer match and I'd like to place a big bet of 50-100k, how easy would it be for me to take out a loan and how long would it take? has anyone else done something like this?

I will tell you that you are not the only one in this ship. It is possible that people who are willing to take out a loan to bet on a game view it more of like an investment rather than "gambling". It is a good thing you have asked this question, it shows you are smart and willing to do thorough a research before making the move. If you decide to go through with your decision, kindly avoid loan sharks. They'll loan you the money without any collateral but will go to any length to get it back if you default.

A very high risk, I won't risk any of my properties on this. When you ask for a loan, of course, there is high collateral and the value of that collateral considering a low value to the lender. I don't know how sure I am with my prediction in sports betting, probably a chance to take that risk will probably be a small percentage when I am sure that who is the winner of the betting match but if not, I won't take that high risk.
It will become a double edge sword once you lose in gambling.

Yess, depending on the value of loan will be the requirement of collateral to be submitted. What OP have requested and has planned is a big number and this requires a much valuable collateral. This bet can be made out of loan if the user have got the backing to clear the loan even if the bet didn't win.

Quidat

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Quote from: Davidvictorson on June 11, 2022, 04:51:15 PM

Quote from: NAPK1NS_RA3 on June 04, 2022, 05:01:34 PM

recently I've come across some information for an upcoming soccer match and I'd like to place a big bet of 50-100k, how easy would it be for me to take out a loan and how long would it take? has anyone else done something like this?

I will tell you that you are not the only one in this ship. It is possible that people who are willing to take out a loan to bet on a game view it more of like an investment rather than "gambling". It is a good thing you have asked this question, it shows you are smart and willing to do thorough a research before making the move. If you decide to go through with your decision, kindly avoid loan sharks. They'll loan you the money without any collateral but will go to any length to get it back if you default.

Would always be a bad idea to take some loan just for you to make out some gambling bet which is really a very bad idea even if you are capable or eligible on getting that amount but still you would
need to pay off something which is really that a casual thing to be done or its your responsibility for you to do so.You do know on where it would really be heading on such extent if ever
you would consider on not repaying those debts or loans.IF you cant see yourself on able to pay on the right time then you would really be having that big problem ahead.

DoublerHunter

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Quote from: Davidvictorson on June 11, 2022, 04:51:15 PM

Quote from: NAPK1NS_RA3 on June 04, 2022, 05:01:34 PM

recently I've come across some information for an upcoming soccer match and I'd like to place a big bet of 50-100k, how easy would it be for me to take out a loan and how long would it take? has anyone else done something like this?

I will tell you that you are not the only one in this ship. It is possible that people who are willing to take out a loan to bet on a game view it more of like an investment rather than "gambling". It is a good thing you have asked this question, it shows you are smart and willing to do thorough a research before making the move. If you decide to go through with your decision, kindly avoid loan sharks. They'll loan you the money without any collateral but will go to any length to get it back if you default.

A very high risk, I won't risk any of my properties on this. When you ask for a loan, of course, there is high collateral and the value of that collateral considering a low value to the lender. I don't know how sure I am with my prediction in sports betting, probably a chance to take that risk will probably be a small percentage when I am sure that who is the winner of the betting match but if not, I won't take that high risk.
It will become a double edge sword once you lose in gambling.

Davidvictorson

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Quote from: NAPK1NS_RA3 on June 04, 2022, 05:01:34 PM

recently I've come across some information for an upcoming soccer match and I'd like to place a big bet of 50-100k, how easy would it be for me to take out a loan and how long would it take? has anyone else done something like this?

I will tell you that you are not the only one in this ship. It is possible that people who are willing to take out a loan to bet on a game view it more of like an investment rather than "gambling". It is a good thing you have asked this question, it shows you are smart and willing to do thorough a research before making the move. If you decide to go through with your decision, kindly avoid loan sharks. They'll loan you the money without any collateral but will go to any length to get it back if you default.

seleme

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Quote from: Gianluca95 on June 10, 2022, 04:55:23 PM

Quote from: seleme on June 10, 2022, 04:44:12 PM

Definitely think twice before taking loan, there is no 100% fixed match and you can lose more than what you can afford to lose. What if, you take a loan and placed sports bet then it loses? Well, you have to pay back whatever amount you borrowed and it will be stressful day unless you are able to pay back soon. Just my 2 cents.

Exactly. Ask for a loan it is never a good idea. Banks are not stupid and you should put your home or something with high value as collateral, and you can risk to lose it for a match that you're also sure that is not fixed at 100%.

So, consider what are you doing, and think about. Less gains sometimes means also more safety.

Better safe strategy than sorry. What if he wins the match? Surely sounds exciting but chances are higher to bust that money you can't afford to lose as gambler. I can't even imagine losing money OP tooks as loan and can't pay then loses collateral. It will be nightmare and traumatic loss.

Theones

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Quote from: Solosanz on June 11, 2022, 11:14:15 AM

Quote from: Distinctin on June 11, 2022, 03:52:25 AM

That's the most important, what the outcome is opposite of your expectation, can you pay the loan? If not, then you will certainly have a problem as you cannot just say "sorry I can't pay the loan", that's being irresponsible.

If he take a loan from banks or other legal institutes, obviously debt collector will come into his house and force him to pay the loan. If he say he can't pay the loan and make an excuses, he will got a trouble with the debt collector, moreover you might got arrested to jail since there's a law regarding this problem.

I would not take any such risk of gambling with a loan money - when I know I live paycheck to paycheck.
This is a huge risk - but then again - the same big is the reward. Is OP sure he will be gambling on the right platform and the money he is going to put up will be returned as promised on the site?

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Quote from: NAPK1NS_RA3 on June 04, 2022, 05:01:34 PM

recently I've come across some information for an upcoming soccer match and I'd like to place a big bet of 50-100k, how easy would it be for me to take out a loan and how long would it take? has anyone else done something like this?

feel free to message me or comment below

$50k - $100k in my country is a huge amount, are you sure to take a big loan for sport betting?

Don't you have any other plans (using) that kind of money apart for betting? I have never take a big loan to bet because I know that betting has a big risk, but if you are ready for all the worst possibilities (if you lose the bet) then just continue the loan because it is your right.

Solosanz

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Quote from: Distinctin on June 11, 2022, 03:52:25 AM

That's the most important, what the outcome is opposite of your expectation, can you pay the loan? If not, then you will certainly have a problem as you cannot just say "sorry I can't pay the loan", that's being irresponsible.

If he take a loan from banks or other legal institutes, obviously debt collector will come into his house and force him to pay the loan. If he say he can't pay the loan and make an excuses, he will got a trouble with the debt collector, moreover you might got arrested to jail since there's a law regarding this problem.

molsewid

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Quote from: NAPK1NS_RA3 on June 04, 2022, 05:01:34 PM

recently I've come across some information for an upcoming soccer match and I'd like to place a big bet of 50-100k, how easy would it be for me to take out a loan and how long would it take? has anyone else done something like this?

feel free to message me or comment below

It will depends in your current earnings and annual earnings as well. They will lend money if they will clearly see your statement of accounts and where will be the payment for the debt. 50-100k is not an issue but for me it is kinda high for new debtors . Maybe you could lend small amount first and prepare for a good collateral that you could give in return for the money you will ask.

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at the end of this discussion, I am really curious to know from OP: Roll Eyes

- did you get really a loan for this bet? collateral provided? interest rate?
- what is this match you decide to play? (it's ok you will reveal after it has been played or send a MP)

wheelz1200

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Quote from: NAPK1NS_RA3 on June 04, 2022, 05:01:34 PM

recently I've come across some information for an upcoming soccer match and I'd like to place a big bet of 50-100k, how easy would it be for me to take out a loan and how long would it take? has anyone else done something like this?

feel free to message me or comment below

I don't have to say it but feel the need to post. DONT EVER TAKE A LOAN OUT TO GAMBLE or even invest. Don't know your financial situation but that can take upwards of 20 years to pay back for one stupid bet. And if you win chances are you will likely just end up gambling with the profits and eventually lose it anyway. Golden rule, don't lose what you don't have.

agustina2

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Quote from: LodisMcguire on June 11, 2022, 06:49:29 AM

Do you have a collateral? If not,it would be hard to take a loan.But like everyone here said,gambling from borrowed money is not a good thing,even if it's a fixed match,in small chance that you got cheated by that information,you will have to pay that loan.

Even with collateral, the amount of figures that OP mentioned is an insane amount. Collateral is not enough for that and even if does, that will cost a big one.

The best thing to do is to totally forget the idea of taking a loan in sports betting. OP likes to take a loan because he got information or a tip of a supposed match that even if it's true or not, OP shouldn't trust easily.

A high-risk high-return mindset is not always applicable to any situation especially in the case that OP mentioned.

LodisMcguire

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Do you have a collateral? If not,it would be hard to take a loan.But like everyone here said,gambling from borrowed money is not a good thing,even if it's a fixed match,in small chance that you got cheated by that information,you will have to pay that loan.

Fortify

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Quote from: NAPK1NS_RA3 on June 04, 2022, 05:01:34 PM

recently I've come across some information for an upcoming soccer match and I'd like to place a big bet of 50-100k, how easy would it be for me to take out a loan and how long would it take? has anyone else done something like this?

feel free to message me or comment below

If you have to ask such a question then you are most likely never going to be approved for such a loan without committing some sort of fraudulent falsification (which is very bad). People give out loans to responsible borrowers and gambling on something, which you can never be assured of the outcome, is tremendously irresponsible. Until you save up such an amount you will never appreciate how hard it is to earn and it should never be gambled. The only people who can afford to do such things are the super rich who don't borrow.

Distinctin

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Quote from: Alisha-k on June 11, 2022, 03:47:55 AM

Taking a loan to place a bet? Wow! How certain are you that the game's a fixed one? Do you have an alternative means of paying back when it all comes crashing down ot are you just looking for debts to heap on your head.
Taking a loan from a bank, you have to present a collateral and also it comes with interests to be paid monthly. Ready for that?

That's the most important, what the outcome is opposite of your expectation, can you pay the loan? If not, then you will certainly have a problem as you cannot just say "sorry I can't pay the loan", that's being irresponsible.

Topic: taking out a loan for a sports bet (Read 5277 times)