Man Collapses after Allegedly Losing a $400 Loan at a Betting Shop

[chaser15]

A usual scene already in gambling world. Taking a loan, facing the risks, and expecting a profit in return.

For me, I feel good about what happened to that man. Why? If ever he won it, that will create a bigger problem in the future as he will just continue to do betting. Once all of those winnings lose, another loan attempt will be in progress and the cycle will just repeat. Since that man's loss, I think he has now learned a lesson and won't bother to do it again next time, I hope so.

I just don't know why he was able to be credited with that amount. Usually, taking a loan even at around $400 has a strict checking before it will be granted be it on the bank or any lending institution. Borrowers need to have a credible credit quality or if none, they should have a fixed income. And for a $400 loan to be granted, the fixed income of that person should be decent.

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[inthelongrun]

Another one that learned the hard way. Because the reality is there is no such thing as easy money. Gambling winnings may look easy but there is a huge risk too. The money we bet is the hard-earned money and in gambling, we may lose or win, there are no guarantees. I may tell a friend to gamble but only if that person is financially and mentally stable. There are people that have a revenge attitude when losing a bet, and that's not a good trait of a responsible gambler.  

[GiftedMAN]

The football season starts today. Many folks who gamble see it as an opportunity to cash out or double their money. This is a great caution to never take out a loan to gamble and another way of saying this is never gamble with money you cannot afford to lose. Lastly, I believe we have a moral obligation, not to introduce any friend and family to gambling matter how much we may have won in the past or think we will win this season. You can share your thoughts.

Yes, the long awaited season is finally back and I can't wait to see all green in my first game of the week today hopefully am going to win big this new season. Every new season is an opportunity to keep trying our errors because when the luck is not coming fort it becomes errors to bettors who don't give up no matter the losses in the gambling hustle. This advise that gamblers should gamble with an amount they can afford to lose has been said several times and any gambler who still take loans to gamble is either an addicted gambler or a newbie in gambling. I will not force anyone to join me in gambling and I will not share my experience with people because the journey has been a rough one and I don't want any member of my family to Ie a part of it.

[arimamib]

This man has suffered the consequences of his greed, he seems to forget or ignore some important messages in managing his finances when betting, betting with borrowed money is always not recommended and he looks down on this message. The real bet is not how much money we deposit into the bookie, but we have to bet against the passion that always drives us to win big money. Every bet carries a capital risk and gamblers are generally advised not to bet more than they can afford to lose.

[coin-investor]

According to the story, a man collapsed after he lost $400(the equivalent 200k in my local currency) loan at a betting shop called Bet9ja. This money was borrowed from loan shark operators for pay for his house rent however. The man thought that he may be able to double it he took it to a betting shop. Sadly, he lost all the money to a virtual game. Now, he is mostly likely going to be kicked out of his apartment and wind up homeless on the street.

It's unbearable for him, imagine losing $400 instantly from a loan coming from a loan shark, loan sharks are notorious in giving high interest rate every time you delay your payment, I guess the guy doesn't have the money to pay his loan, this is the worst way to lose, you will still feel better if it's your own money, I could not imagine myself getting a loan from a loan shark only to lose everything in gambling.
If you're gambling money coming from a loan you are not thinking correctly, responsible people will never do such a thing.

[Jating]

According to the story, a man collapsed after he lost $400(the equivalent 200k in my local currency) loan at a betting shop called Bet9ja. This money was borrowed from loan shark operators for pay for his house rent however. The man thought that he may be able to double it he took it to a betting shop. Sadly, he lost all the money to a virtual game. Now, he is mostly likely going to be kicked out of his apartment and wind up homeless on the street.

It's unbearable for him, imagine losing $400 instantly from a loan coming from a loan shark, loan sharks are notorious in giving high interest rate every time you delay your payment, I guess the guy doesn't have the money to pay his loan, this is the worst way to lose, you will still feel better if it's your own money, I could not imagine myself getting a loan from a loan shark only to lose everything in gambling.
If you're gambling money coming from a loan you are not thinking correctly, responsible people will never do such a thing.

Yes, probably that is the case for this man, watching the virtual game and then getting nervous when he see that his bet is not going to win. And eventually he lost and now thinking where he should get the money then for the rent and to pay for the loan. And it's unbearable that he collapses. Maybe for others $400 might not be a big money, but still a money that he chooses to gamble first instead of paying his rent so that he can still have a place to live, wrong decision but it's kinda late.

[gabbie2010]

It has been repeatedly said not to gamble with money on loan or that money you can't afford to lose. Gambling is a strong force that always control an individual to only see possibility of winning but not for winning. As soon that you make the money out for bet, the money is no longer yours and you stand only in between to recover it above what it was or to lose in entirely. For the gambler who borrowed money to try his luck to multiply it against paying his rent, it is unfortunate that he may suffer the consequence of taking the risk of luck

This is absolutely pure greediness by the man in a bid to win huge money, unfortunately lost everything because of "getting rich quickly", why not gamble with 5% or at most 10% of the money after losing it he should just quit and look for other alternative to replace the little amount of  money lost, gambling with the whole borrowed money not even his personal money is a very stupid idea, infact losing the whole money might consequently result to his suffering from high blood pressure, there is the possibility of not having an alternative means of repayment of the loan, this serve as warnings to newbies who had the habit of gambling with the whole lot of money.

[bitzizzix]

Maybe he fainted because the money used to bet from the borrowed day and the amount was very large, and even though it wasn't the loan proceeds, he definitely wouldn't sleep well and was even stressed and that was the consequence of gambling.
surely he will feel deep regret after he wakes up from his stupor but it has already happened, this is stupidity and carelessness done without calculation and not thinking long about what if he loses and repays the loan.

[agustina2]

If only he managed to play that loan money on strategy-based or skill-based gambling games, things might not become much worst. I don't understand where these people is getting the guts of playing a loan money in a luck-based games where the risks of losing is much possible

I also don't understand dealing with the last of your money and there's no Plan B. That's basically suicide.

I hope he will solve that problem and anyone else who has the same experience. Please don't give up.

[jossiel]

We have been telling that to many gamblers, and the old ones know this rule already that do not gamble with the amount that you can't afford to lose.

This guy did it just wrongly.

That money that he took as a loan has something to be used for and then he did spent it to something that it shouldn't be.

If only he managed to play that loan money on strategy-based or skill-based gambling games, things might not become much worst.

There's a tiny chance but it's always not that good to use the loaned money for gambling purposes.

[goinmerry]

He is still lucky for me that he only loses $400. At least, he can negotiate it properly with the lender and do some new agreement on how to pay it if the man claims that he will struggle to pay for that. The first thing to do is to do that action before the due date so the lender will be notified about the problem.

The man just needs to work hard to earn the money until reaching $400. He should pay the price that's why no room for any complaints.

He should feel lucky that it's only $400 and not more than that. It's a nightmare if the amount loss is really big.

Next time, don't gamble when there's no backup and established plan in case of losing the money.

[rahmad2nd]

there are many similar cases happening in my neighborhood, some of my friends lost their property because of treating gambling blindly.
sometimes I feel sorry for someone who becomes homeless because of his excessive behavior towards gambling, the effects of addiction make their way of thinking become irrational, psychological disorders we often encounter in someone who has excessive tendencies.

So back to the title of your thread, the behavior of someone who has characteristics like the man you describe, actually they experience psychological disorders and loss of consciousness to think clearly.
many gamblers are desperate to risk all the money he has to double it through gambling, and in the end only hurt himself.

[Boristhecat]

The first post correctly lists the risks of gambling and how we should proceed if we decide to gamble. I don't want to sound rude, but in this particular case (as in many others), the main problem was not gambling. It is obvious that if a person came up with the idea to bet on borrowed money to solve some financial problems, he is already in a difficult situation and the additional problem does not change much.

[Finestream]

As we have been saying here in the community, 'gamble what you can afford to lose'. And this man didn't understand that and so now he has 2 problems, how to pay those loan sharks because for sure he will get a beating from them if he don't pay, and then probably homeless by now. Another stupid move by a individual and more likely he will continue to gamble as it seems that he is already addicted.

That’s what he got for being an irresponsible gambler. If he only gamble with discipline, or just gamble on an amount he can afford to lose, then he must still be living in an apartment safe and sound. I think gamblers these kind have been gambling addicts already as they cannot control the urge to gamble anymore. I hope this will be an eye opener to everyone that gambling won’t be a solution to your own problem. It will create another problem instead once not done in moderation.

[Daltonik]

Well, all people really have different attitudes to losing gambling, but do people investing in the crypt and losing after that react the same way, of course not, just stick to the rule of losing what you don't feel sorry for, but excitement and greed are insidious things, you need to remember this.

[Ludmilla_rose1995]

Stories like this deserve a lesson for all gamblers because gambling doesn't always have a beautiful ending. in my city gambling is illegal but the majority of homeless are drug users and gamblers, they must have been thrown out by their families because they have destroyed themselves in their own social life. keep using a cool mind in any case, don't get emotional easily, especially when gambling.

[uneng]

He is still lucky for me that he only loses $400. At least, he can negotiate it properly with the lender and do some new agreement on how to pay it if the man claims that he will struggle to pay for that. The first thing to do is to do that action before the due date so the lender will be notified about the problem.

The man just needs to work hard to earn the money until reaching $400. He should pay the price that's why no room for any complaints.

He should feel lucky that it's only $400 and not more than that. It's a nightmare if the amount loss is really big.

Next time, don't gamble when there's no backup and established plan in case of losing the money.

That really doesn't look the end of the world for him. Even though the man lives in a poor country where dollar values a lot and local fiat currency is worthless, 400$ is still recoverable through another methods relatively fast. The man just needs to forget gambling for now and concentrate his efforts in working and asking people around for temporary support until he can pay for a new house.

Maybe his appearance on the local news will lead people to recognize and offer earning and living opportunities to him.

[PX-Z]

Gambling is okay, only when betting from your own money only that is considered portion for your hobby/entertainment purposes. Betting using the lent money is a no-no.
This is the very reason why most poor to average people become poorer due this kind of mindset.

[Fortify]

According to the story, a man collapsed after he lost $400(the equivalent 200k in my local currency) loan at a betting shop called Bet9ja. This money was borrowed from loan shark operators for pay for his house rent however. The man thought that he may be able to double it he took it to a betting shop. Sadly, he lost all the money to a virtual game. Now, he is mostly likely going to be kicked out of his apartment and wind up homeless on the street.

The football season starts today. Many folks who gamble see it as an opportunity to cash out or double their money. This is a great caution to never take out a loan to gamble and another way of saying this is never gamble with money you cannot afford to lose. Lastly, I believe we have a moral obligation, not to introduce any friend and family to gambling matter how much we may have won in the past or think we will win this season. You can share your thoughts.

The nonsense that heavily addicted gamblers get up to never ceases to amaze me. It is a blend of pure desperation, laziness and greediness that ultimately drives people to commit such acts but a lack of education seems to play a role as well. It's bad enough that he put money down that was paying for a month worth of a roof over his head, but he put it down on a "virtual" sport which is absolutely engineered to only benefit the sportbook - there is absolutely no luck involved, it is all predefined through automated algorithms. He could probably have found much better odds with some sort of sports team and had a genuine chance of doubling up. It's hard to have any sort of sympathy for the situation he has created.

[bitbollo]

unfortunately such sad story recalls a series of basic information for those entering the gambling sector.
 - never take out a loan to gamble
 - never gamble more than you can actually lose hence never gamble with money you need for daily expenses.
 - never take a risk in something that you can control (I mean virtual games are not based in any skills, plus there is no track records.. and so on...)