Bitcoin Forum

I've seen in the past that many gamblers are requesting a loan. I even got scammed by one (he was my referral on a casino). Now this doesn't have to be a bad thing but we should be aware when gamblers request a loan. Therefore, my suggestion is to make a list of active gamblers requesting loans

I'm pretty sure this will reduce the percentage of scams. Some of them are pretty easy to find. If you know any, please post them below.

I'm not saying these persons are scammers, but gamblers yes.

- feryjhie
- bitcoinexp (did return my loan though)

Or you can adopt the policy of always require collateral for loan, and only give non collateral ones to very trusted people

This is the only way to profitably giving out loans band everyone should follow this rule. Always.

True, but it still happens and gamblers only want to loan to feed their gambling addiction.

if they scammed you or anyone else
why don't you just report them to moderator or trusted member with proof
and they can leave them negative feedback so no one will lend them money in future because of their red trust rating

I think it is pretty safe to say that most non newbie/jr members that ask to take out loans of less then ~.05 are going to be gambling with their loan. They may or may not have other means to pay, but they generally are not going to take out loans larger then that and anyone taking out loans smaller then that have little use for any amount of that size

gamblers requesting for loans is OK as long as they can provide valid collateral  ;)

i think there is nothing wrong gamblers ask for loan
as long as they are had collateral and can return that money its okay
so, did true they scam you ? or just your conjecture/allegations ?

Well the thing is that most gambling loans do not use collateral. The reason behind this is that gamblers request a loan as a last resort in order to want to spend money gambling and if they had an altcoin they would either use it to gamble or sell it for bitcoin and use that to gamble

If you make the interest rate that you charge high enough, you'll be able to profit despite the occasional runner. Its the same concept as the payday loan stores. They know that they're loaning money to deadbeats, but at 20% per week, you can endure quite a few bad debts.

20%/week is immoral, and I think only people that are willing to scam and not pay back would take a loan with such rate.

Just don't lend if there is any evidence that the lender won't pay back and charge more reasonable rates because you put yourself in less risks

Hmmm... just sworn off gambling, it's a fruitless game. I wouldn't mind if you don't cross out my name. Technically speaking I'm up 5.5+ from satoshibones but i was scammed that full amount at localbitcoins. So actually, i just went down 0.2 bitcoins after i gambled away what i got 2 weeks ago. I know how people will still be wary with me cause some will be thinking "you can't just swear off gambling, you'll go back sooner or later...that sort of thing" in future, but I'll just take my place in the community and contribute as much as I can, as little as it may be.  :)

i think it is not a matter what they do with their request loan
lender must provide loan to reputable members only and with valid collateral to make sure they will able to cover the loss in case user don't payback

I think it is a matter. If an addicted gambler doesn't have any money left he may want to find other ways to feed his addiction. My intention to make this list is to make people aware to lend with caution to gamblers. Some gamblers may not be able to repay and just vanish. Always providing a collateral is a good rule but not everyone sticks to that rule.

Good point. Collateral is always a good step to take. But i think if someone has proven he/she to be sufficiently trustful, having no obvious bad intentions and having had successful trades with reputable members before, then I say: why not? But loaning an addicted gambler sure does require caution. Lending such people without collateral is fool-hardy. (Yes. Including me in that statement. Even though i have sworn off gambling.)

If they're providing a valid collateral, it shouldn't really be a matter to lender to what purpose they're using the loan for.

I don't think making a list would do any good. A gambler who wants to return your money would do it even if he looses while gambling and a person who has in mind to steal away your money would do it even if he isn't a gambler.

Good quote.

Unfortunately that's not always true. Some gamblers do everything to feed their addiction. Think about stealing from family members requesting loans etc. But I guess this contribution doesn't make a lot of sense, maybe you're right.