taking out a loan for a sports bet - page 7.

blatchcorn

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Quote from: Smartprofit on June 06, 2022, 12:53:06 PM

As I understand it, you received insider information ....

However, insider information can also be false. It is possible that you will be deliberately misled. It is also possible that the source of the insider information was (in turn) misled. In any case, you can get into a very dangerous situation. If your venture fails, you will not be able to repay the loan and pay the accrued interest.

The bank is very cruel to debtors. It passes the receivables to collectors. Collectors take all measures to collect the debt from the debtor.

In my opinion, the only situation where a bank loan is justified is the purchase of real estate. Real estate is a very expensive asset. It is difficult to buy property without a mortgage.

There is no guarantee whether insider information is correct or not, then why taking risk of loan. Bansk AFAIK does'nt approve loans for gambling, obviously you will give some wrong info to get your loan approved. Banks are never in loss they have something in there hand which you pledge againest your loan. Take loan for safe investments like real estate as you mentioned.

Smartprofit

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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

As I understand it, you received insider information ....

However, insider information can also be false. It is possible that you will be deliberately misled. It is also possible that the source of the insider information was (in turn) misled. In any case, you can get into a very dangerous situation. If your venture fails, you will not be able to repay the loan and pay the accrued interest.

The bank is very cruel to debtors. It passes the receivables to collectors. Collectors take all measures to collect the debt from the debtor.

In my opinion, the only situation where a bank loan is justified is the purchase of real estate. Real estate is a very expensive asset. It is difficult to buy property without a mortgage.

Masplanc

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It is better never to gamble than to borrow money to play gambe because it is still a waste even if one wins the game, the money made from the bet will be used to settle the loan borrowed.

carlisle1

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Quote from: Doell on June 06, 2022, 10:49:26 AM

A bad idea is actually take out a loan to gamble, according to my experience and that of my friends. Loan any amount if it was to steal profits in gambling would be danger, lose and lose would continue until they forgot how much they had loan. My suggestion it's better to gamble with small money but be prepared to risk losing, than to loan and it will disturb your health, love yourself more wisely.

A very bad idea and can cause you huge losses not only with the loan money but also the after effects in case you went deep

with your gambling activities. It's not just you personally, but the domino effects are also possible to happen. It can lead you not

just to ruin your own life, but also those who are close to you. Most of the time, your love ones are also affected if you turn yourself

into a gambling addicted person. Always be on the right side, gamble only the amount that you can let go, no need to loan

but be more practical and enjoy.

Mauser

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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

In general I would advise against using leverage for sports betting. Taking out loans for gambling or investing is a very dangerous undertaking and can lead to financial difficulties. Normally we say only use money for gambling or betting that you can afford to lose, and borrowed money we can't afford to lose.
In case you have some insider information about an upcoming match than things are different. First of all, how reliable is your source? Only if you fully trust him I would act on that tip. To take out a loan of 50-100k USD you will need collateral as security. If you own an apartment you could ask the bank for a mortgage. Depends again on how fast you need the money and when the game is. The best strategy would probably be max out all your credit cards, sell all the stocks and cryptos you own and ask friends and family for the rest. Just make sure it's really a safe bet and you won't lose all the money.

madnessteat

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Quote from: Cnut237 on June 06, 2022, 10:57:35 AM

Quote from: madnessteat on June 06, 2022, 08:53:14 AM

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

~snip~

In my opinion, this is the most irresponsible idea I've encountered on bitcointalk. Allowing yourself to take such a huge amount of money on credit and bet it on one single match is just stupid.

If you couldn't make that kind of money up to that point, why would you think you could pay it back if you lost it? After all, any plans can fail and you should always have a backup.

It does seem like a crazy idea. The only way this would not be crazy is if the proposed $50k or $100k amount doesn't mean much to you. But obviously this is a large amount for you, otherwise you wouldn't need to take out a loan to cover it. Really this doesn't make any logical sense at all, so I'd say don't do it.

Taking out a (smallish) loan to gamble isn't necessarily always a bad thing, it depends on what you're doing. Putting it all on a single sports match doesn't make sense. But taking out say a few k and buying bitcoin and ETH in the anticipation of price increases over a period of years, whilst still risky, is probably a better option.

I would not even take a loan to buy a promising cryptocurrency because today's world is very unstable and none of us can predict what will happen tomorrow. That is why I invest and gamble only with my own money. The only thing I think it is rational to take credit for is a mortgage or expansion of existing business. Everything else is very risky.

blatchcorn

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Taking loan for gambling is just like jumping in river without knowing swimming. What if you lose the bet from loan money? You will take more loan to repay the loan. IMO gambling must be taken as a secondary form of entertainment and only invest as much as you can afford to lose there. Never ever think of taking loan for betting.

Cnut237

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Quote from: madnessteat on June 06, 2022, 08:53:14 AM

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

~snip~

In my opinion, this is the most irresponsible idea I've encountered on bitcointalk. Allowing yourself to take such a huge amount of money on credit and bet it on one single match is just stupid.

If you couldn't make that kind of money up to that point, why would you think you could pay it back if you lost it? After all, any plans can fail and you should always have a backup.

It does seem like a crazy idea. The only way this would not be crazy is if the proposed $50k or $100k amount doesn't mean much to you. But obviously this is a large amount for you, otherwise you wouldn't need to take out a loan to cover it. Really this doesn't make any logical sense at all, so I'd say don't do it.

Taking out a (smallish) loan to gamble isn't necessarily always a bad thing, it depends on what you're doing. Putting it all on a single sports match doesn't make sense. But taking out say a few k and buying bitcoin and ETH in the anticipation of price increases over a period of years, whilst still risky, is probably a better option.

Doell

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A bad idea is actually take out a loan to gamble, according to my experience and that of my friends. Loan any amount if it was to steal profits in gambling would be danger, lose and lose would continue until they forgot how much they had loan. My suggestion it's better to gamble with small money but be prepared to risk losing, than to loan and it will disturb your health, love yourself more wisely.

madnessteat

legendary

Activity: 2310

Merit: 2073

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

~snip~

In my opinion, this is the most irresponsible idea I've encountered on bitcointalk. Allowing yourself to take such a huge amount of money on credit and bet it on one single match is just stupid.

If you couldn't make that kind of money up to that point, why would you think you could pay it back if you lost it? After all, any plans can fail and you should always have a backup.

Jawhead999

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Even some businessman said taking out a loan for a business, investment or trading can be considered as a good way, but I've always told taking a loan is really bad even you've calculated it before. The thing is there's no guarantee your analysis will work 100%, you can't predict the future. Now you're taking out a loan for gambling? you're really stupid or an addict, it's better for you to limit your gambling activities.

bitbollo

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If you have not any collateral you will not receive such high amount . clearly impossible.
without collateral, you can receive some amounts from your bank, but unless you're earning a BIG wage or you have a business it's clearly impossible that they provide such amount with a low interest rate ...

but the general question should be....
it really worth such risk?
if this is a rigged match sportsbook can decide to not pay a penny and freeze your money!
if this is not a rigged match you risk a lot of money for a 90 minutes play... an amount that normally you can buy a small house... it means a debit that you will pay for 30 years.

Yamifoud

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Is that information reliable? If it's a 100% sure win, then you are at no risk of borrowing money, you can even make your property as collateral as you are sure you'll be able to pay that loan after the bets get graded. However, think of the risk also, if you lose your bet, you'll regret your action for sure.

Thing is, gambling is supposed to be treated as a fun activity, so taking loans is not necessary anymore.

TheGreatPython

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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?

How sure you are that the info are accurate? But, the loan amount is too big and usually it can take some time for it to be processed but if you are close to the people that processed loans they might speed it up. Just tell them that you are in a hurry but don't tell them that you are doing this only for the sake of betting because that can disappointment someone else.

I never did such thing, because for me it is only an additional headache as gambling is very risky. Also if I won, there is no guarantee that I can pay the loan immediately since it wasn't their deadline yet and worst thing that could happen is I will just use the money before the repaying date comes.

Oshosondy

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Gamble responsibly

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?

If I should feel free to leave a comment, my opinion is that it is stupidity to borrow such high loan for bet, if you are able to borrow that large amount of money, definitely you are not a poor person because you will need a collateral to borrow such high amount of money, which also means you are earning good amount of money. Leave this, just use the small amount you can use to gamble than having a time of regret in the future that you should not have borrowed to gamble.

Sirait

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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 do this (take a loan for betting) then you are doing something very risky. Even though I was given the opportunity to take a loan, I would not spend that money on betting. I better invest the money and I split the profits into several parts (60% to pay off debt repayments and the rest to gamble and meet other needs).

mirakal

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So you are saying you will take a loan here?

I think it's impossible to take that big amount of money, it's better to take a loan from the bank and show your collateral. Loans services here do not offer huge loan, just a small amount of money but it also depends on the reputation of the users, as for you, you need to earn your reputation first.

Gosgosking

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Taking a loan to bet for sport bet is very risky, because their is no guarantee that one can win the game. But if a loan should be taken to bet and it is very sure that money will be coming from another source to pay for the loan, I can still take loan to play bet. If their no assurance of money coming from any source, I can't think of taking loan for bet.

Smartprofit

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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 come to the bank and ask for a loan, referring to the fact that you plan to gamble, they will refuse you.

You can get a loan from a bank for business purposes, but not for gambling. At the same time, you can take out a consumer loan or apply for a credit card.

However, this is very risky.

If you do not have insider information, then your sports betting can lead to loss and loss of money.

How will you repay the loan (with interest)?

In addition, in many countries, the use of insider information when betting on sports is prohibited by law.

acroman08

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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

"come across some information for an upcoming match"? are you saying that the upcoming match you are talking about will be rigged? if so, are you 100% certain that the information you have come across with is reliable? taking a loan to gamble is probable one of the stupidest things to do. also, as far as I know, banks do not give loans very easily. If I were you I would only gamble the money I have and can afford to lose even if the information I got regarding the match is 100% reliable.

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