taking out a loan for a sports bet

[Doell]

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.

[1715600261]

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[1715600261]

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[Cnut237]

~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.

[blatchcorn]

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.

[madnessteat]

~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.

[Mauser]

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.

[carlisle1]

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.

[Masplanc]

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.

[Smartprofit]

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.

[blatchcorn]

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.

[AmoreJaz]

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.

i hope the OP clears his mind towards this matter. insider information is always not a guarantee that it will truly happen. there will always be other circumstances that may influence the results. if the OP is asking the possibility to take a loan from here, i don't think he can get from here. his chance will be from banks, but what would he do if his bet turned otherwise? he will just ruin his life on this. better be contented on how much money you have. take a big loan on more important things.

[KTChampions]

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 

Hmmm... https://bitcointalk.org/index.php?action=profile;threads;u=1042486;sa=showPosts

Guys, don't you think this is strange? A better who boasts about the fact that he won 550 thousand dollars in a month at bets is talking about borrowing 50-100 thousand? This calls into question all his previous stories.

I don’t know what is the point of creating such freaky topics (he used to at least advertise his telegram channel), but I would be suspicious of his messages.

[milewilda]

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 

Hmmm... https://bitcointalk.org/index.php?action=profile;threads;u=1042486;sa=showPosts

Guys, don't you think this is strange? A better who boasts about the fact that he won 550 thousand dollars in a month at bets is talking about borrowing 50-100 thousand? This calls into question all his previous stories.

I don’t know what is the point of creating such freaky topics (he used to at least advertise his telegram channel), but I would be suspicious of his messages.

Maybe he lost all of those 550k and then tending to borrow 50k again to cope up with the losses? What you think? In overall its not really that a good idea
to take up some loan just for you to gamble out unless if you could be sure on able to repay those amount in the right time but if not then its not really that ideal on taking such step.
We know that sports betting do have better chance on winning than playing with luck based but we know its still gambling. 50% chance on losing your bet thats why
its not recommendable unless if those amounts is something that you can afford to lose.

[Theones]

~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.

I agree - I would not even dare to do that. Rather you can make small bets.
I would think 100 times to take that risk and with loan money - a big no, please play safe. And always think what if you lose - your debt will be double.

[harizen]

Where would you be seeking this loan from? No one on here would loan you that amount without adequate collateral. I also doubt any bank will give a loan of that size without collateral.

Let's assume you got this loan though, and the team you bet on didn't cover for you. What then?

Then OP is surely fuc*ed up.

That's why I mentioned first that, don't mind the information that OP got even how reliable is it because, in the event of loss, that will be big trouble. Going all-in is not a good idea especially if the bet amount on risks came from a loan.

And to be eligible for that big amount as a loan, OP needs to have good credentials. No lending company nor banks will just release that kind of big money. Even rich people are having difficulty getting that loan amount.

[South Park]

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 would be incredibly difficult to get a loan if your purpose is to gamble with that money, almost no bank would be willing to give that money away unless you were a profitable gambler and you knew the one at the top of the bank from which you were asking the loan, now you could try with your friends but it is doubtful that someone could have so much cash around, besides it seems you are completely convinced you can win the bet, but most of the time things are not so simple and if you happen to lose you can easily ruin your life over a single bet.

[traderethereum]

~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.

I agree - I would not even dare to do that. Rather you can make small bets.
I would think 100 times to take that risk and with loan money - a big no, please play safe. And always think what if you lose - your debt will be double.

If I take a loan, I will not use it to play gambling but open a business that I control to have the opportunity to make a profit.
Playing gambling using a loan will only give you the risk of losing because gambling can never be a source of income for us even though we are lucky.
After all, we also don't know when that luck will come.
It's better to play small and in moderation than forcing yourself to play big using borrowed money.
Let other people borrow money because they may have their own considerations.

[LogitechMouse]

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 

Bank is the key if you have a good credit score but if you aren't then it would be hard for you unless you know somebody who is rich enough for you to give that huge amount of loan.

Loaning money just for the sake of betting in sports isn't advisable but isn't illegal as well. Maybe think twice or thrice with your decision OP because this might change your whole life. That is a huge amount to use to bet with especially with what is happening right now. I'd rather not taking a loan just for the sake of betting if I were you and will just the money that I have in the pocket. At least with that, you will not have more problems if you lose.

If you really want to make a loan that huge though, maybe think right now where will you get that amount if things will not go your way.

[ChiBitCTy]

A lot of people quick to give their opinion on whether they feel this is something someone should do or not (regardless of not having any idea of the persons situation) but I appreciate those who actually answered the question seriously as I kinda wondered myself how someone would go about getting a loan of this magnitude. Interesting stuff.

[Poker Player]

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 think you just made it up, but if you're serious, you might play Russian roulette as well, right?

I would have no problem taking a $50K loan, plus I would have it in the account instantly, but I wouldn't do it for that guff.

The bad thing is that it's not the first time I see on forums someone saying they are going to take a loan for gambling, buying stocks, etc. And it doesn't usually end well.

[worle1bm]

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 

You are taking big risk because it's never advisable to take loans for betting as you could loose the bet but still have to repay the loan amount along with the interest.In your case you are saying of having 50-100k loan which is not easy to be passed but depends on your credit score or have you taken any past loan and how would you repay the loan amount.But this for sports bet is not favourable according to me rest you have lot of options from members above.