Are there play and pay later casinos?

[LUCKMCFLY]

Never heard of such, and even if there be, I think it's plain stupid, cus I personally will play on the casino, and if I don't Win, I will never return to pay the money, I will just go and start gambling on another casino maybe outside where I live.

Totally a stupid decision if someone who's addicted to gambling will result in this. We saw how gamblers who have gambled and then used loan money for their gambling activities, they've never been trusted again. But with such condition, I don't think the casino will just allow it without anything in return to them knowing that there are also nasty gamblers that won't pay them if they hand the money and allows them to gamble freely and easily.

Since casinos are aware of how gambling works and how debt-ridden gamblers may become, I don't believe any will permit borrowing and lending. We already know that borrowing money to gamble will never be the best option. We can't afford to lose these funds, therefore gambling with them will be a major risk.
I agree that you need to have questioned your friend because that sum is not small. If casinos made such an offer, many players would take advantage of it, causing them to suffer severe losses. If casinos ever start allowing borrowing, more gamblers will undoubtedly develop gambling addictions.

Let us say that some casinos do appreciate the loyalty of their customers and it's like a limited offer and feature for those that they've seen being loyal to them. But we do know that gambling with borrowed money isn't going to take you any longer and it's a plus that it will only give you more debt including the interest. When we've got money that came from loan, we tend to just spend it because we're thinking that we'll even pay the interest of it and there's an urgency of spending it as soon as possible.

Even thought with that for sure a casino will not let their players to lend money on their platform since they know the risk for not getting paid. Maybe a loyalty bonus will be given to their loyal costumers but not a loan since they might get a lot of defaults especially if there gamblers cannot afford to pay the money especially when they already lose everything they had. Also much better for a player not to think about taking loan since this will never result any good and this put us on huge risk to get bankrupt.

I think that one of the things that can be done is that in a casino you cannot give money loans due to the danger of bankruptcy, however if the player is made a series of demands under which they make commitments, obviously the KYC would be something hellish, but if there are ways to do it, and facial verifications and everything, I think it would be a way to do it, with weekly or daily payments, depending on how the client wants, in case they don't pay because they don't want to Well, they simply go to the clause where they require mortgage documents or a commitment with the security entities, I think that would be a way, and that obviously the loans are given with the help of a bank, where the casino earns a % for it.

[Josefjix]

Taking a loan outside the casino, yes, that's possible. But within the casino itself, nope.
Never heard that as well. Their business is gambling and not a lending company.
So as much as possible, they want cash flowing in and not flowing out.
I don't think any casino would offer loan services to their players. Hence, we have never heard such offer from them.
But you can definitely take a loan outside, like in banks, family, colleagues and other online loan apps.

Casinos offer the greatest alternatives to their customers, but they do not go to a high lengths to make their customers satisfied. Playing casino on credit is the beginning of owning debts; it is never a possibility in the gambling sector; not a single casino would be a party to such an arrangement featured; gamblers would be extremely delighted, but this would also grow the huge pending debts in their possession. Banks are recommended for loans when you will have some value collateral if you fail to meet the needed particular period to repay the loan.

[Distinctin]

No casino would survive with that kind of system. While they may attract a lot of borrowers, the question remains: can they ensure that they will receive the payment? We are discussing online casinos, where most of us gamble anonymously, so the risk for the operator is very high.

I am aware that some land-based casinos have lenders, but they would not easily lend money without collateral. This collateral serves as assurance since its value is higher than the loan, and the interest rates are typically high. These lenders are often referred to as loan sharks.

[Doan9269]

No casino would survive with that kind of system. While they may attract a lot of borrowers, the question remains: can they ensure that they will receive the payment? We are discussing online casinos, where most of us gamble anonymously, so the risk for the operator is very high.

They cannot even accept giving such offer just to make sure that they satisfy their gamblers, that's but satisfaction but stupidity, because at the end you will not achieve satisfying the gamblers than disappointing yourself, if you're to start a new casino business, you will hardly see someone to lend you money to start an establishement and if you do, then you must have staked down your assets as qualateral instead, so why should you be a loan vendor to gambler who don't have money to gamble.

I am aware that some land-based casinos have lenders, but they would not easily lend money without collateral. This collateral serves as assurance since its value is higher than the loan, and the interest rates are typically high. These lenders are often referred to as loan sharks.

There are loan sharks and those people don't take it easy with them, they will take down their entire assets used as qualateral if they fail or to make repayment, even to this days, only few land base physical casinos engage doing his kind of offer by giving loan for gambling.

[Accardo]

Gambling is a general market and casino is a part of it. Gambling can be done in different manners and if I read the OP's post well, his friend said he owes 60k in gambling not casino. They're multiple scenarios to that and the causes of that, Op should have asked him what kind of gambling he engaged in, maybe out of sympathy didn't remember to drop his response. I would say that maybe it was a peer to peer gambling between him and another person over a game or event that's about to happen. And in such gambling the both parties will provide their lawyers and they'll sign. Unfortunately he lost the bet and he is just obliged to pay the other person 60k, that means whenever he gets the money he'll hand it over to his opponent. That's how I view it as gambling happen in different forms not just in casinos.

[molsewid]

No casino would survive with that kind of system. While they may attract a lot of borrowers, the question remains: can they ensure that they will receive the payment? We are discussing online casinos, where most of us gamble anonymously, so the risk for the operator is very high.

I am aware that some land-based casinos have lenders, but they would not easily lend money without collateral. This collateral serves as assurance since its value is higher than the loan, and the interest rates are typically high. These lenders are often referred to as loan sharks.

Maybe a traditional ones can survive. Because they can make their house as collateral or even their cars or anything that will have a value or increasing value in the future but when it comes to online casino I doubt they will have that because as what you have said there is no assurance that it could be paid on time.

[tusandii]

No casino would survive with that kind of system. While they may attract a lot of borrowers, the question remains: can they ensure that they will receive the payment? We are discussing online casinos, where most of us gamble anonymously, so the risk for the operator is very high.

I am aware that some land-based casinos have lenders, but they would not easily lend money without collateral. This collateral serves as assurance since its value is higher than the loan, and the interest rates are typically high. These lenders are often referred to as loan sharks.

Maybe a traditional ones can survive. Because they can make their house as collateral or even their cars or anything that will have a value or increasing value in the future but when it comes to online casino I doubt they will have that because as what you have said there is no assurance that it could be paid on time.

Here I agree with you that only land or traditional casinos can survive because they can receive several guarantees in case gamblers don't do things they don't want such as running away from responsibility.
So far I have never come across a casino online with such a service and I am sure that no online casino does because it is very risky.

I myself, as a gambler, have never wanted a service like that and don't want to exceed my limits by forcing a loan.

[Hispo]

No casino would survive with that kind of system. While they may attract a lot of borrowers, the question remains: can they ensure that they will receive the payment? We are discussing online casinos, where most of us gamble anonymously, so the risk for the operator is very high.

I am aware that some land-based casinos have lenders, but they would not easily lend money without collateral. This collateral serves as assurance since its value is higher than the loan, and the interest rates are typically high. These lenders are often referred to as loan sharks.

Maybe a traditional ones can survive. Because they can make their house as collateral or even their cars or anything that will have a value or increasing value in the future but when it comes to online casino I doubt they will have that because as what you have said there is no assurance that it could be paid on time.

Here I agree with you that only land or traditional casinos can survive because they can receive several guarantees in case gamblers don't do things they don't want such as running away from responsibility.
So far I have never come across a casino online with such a service and I am sure that no online casino does because it is very risky.

I myself, as a gambler, have never wanted a service like that and don't want to exceed my limits by forcing a loan.

If online and crypto casinos wanted, I could see a day where they started to give credit for their users to gamble, perhaps depending on their VIP status and total wager history and if there is some KYC involved since the beginning of the registration on the casino, it could be possible for the staff to find information on the credit score of the person, further helping with their risk evaluation.
 However, since online casinos have not need such system to exist for them to have good profits, it is also likely they won't use it.

[harizen]

If online and crypto casinos wanted, I could see a day where they started to give credit for their users to gamble, perhaps depending on their VIP status and total wager history and if there is some KYC involved since the beginning of the registration on the casino, it could be possible for the staff to find information on the credit score of the person, further helping with their risk evaluation.
 However, since online casinos have not need such system to exist for them to have good profits, it is also likely they won't use it.

Actually, that would be the logical requirements and pre-requisites if online casinos will have that pay later feature or granting their users a loanable balance. However, since the industry we are talking about is gambling, expect that the eligibility of loan requirements is tough and will be difficult to achieved.

Adding to that, the said loan amout surely can't be withdrawn immediately if users decided to convert it to cash, obviously. I'm also sure that there would be a turnover requirement before anyone can convert it to real cash depending on the loan tier.

With that being said, I doubt the majority will still be interested in that feature.

[slapper]

Gambling is a general market and casino is a part of it. Gambling can be done in different manners and if I read the OP's post well, his friend said he owes 60k in gambling not casino. They're multiple scenarios to that and the causes of that, Op should have asked him what kind of gambling he engaged in, maybe out of sympathy didn't remember to drop his response. I would say that maybe it was a peer to peer gambling between him and another person over a game or event that's about to happen. And in such gambling the both parties will provide their lawyers and they'll sign. Unfortunately he lost the bet and he is just obliged to pay the other person 60k, that means whenever he gets the money he'll hand it over to his opponent. That's how I view it as gambling happen in different forms not just in casinos.

It's not easy to take in your point of view. You're making it sound like a $60,000 gambling debt is nothing out of the ordinary. Do you find your friend's massive debt concerning? Well, what about smart betting? It's not just casinos, of course, but we can't ignore this problem! Aren't there inherent dangers in any kind of gambling? The risks of addiction, economic collapse, and social upheaval are too great to dismiss. It's true that no mention was made of gamblers in the post. But isn't the shrugging off of such a massive setback the real problem here? Instead than brushing off heavy losses, shouldn't we encourage responsible play?

[klidex]

No casino would survive with that kind of system. While they may attract a lot of borrowers, the question remains: can they ensure that they will receive the payment? We are discussing online casinos, where most of us gamble anonymously, so the risk for the operator is very high.

I am aware that some land-based casinos have lenders, but they would not easily lend money without collateral. This collateral serves as assurance since its value is higher than the loan, and the interest rates are typically high. These lenders are often referred to as loan sharks.

Maybe a traditional ones can survive. Because they can make their house as collateral or even their cars or anything that will have a value or increasing value in the future but when it comes to online casino I doubt they will have that because as what you have said there is no assurance that it could be paid on time.

Here I agree with you that only land or traditional casinos can survive because they can receive several guarantees in case gamblers don't do things they don't want such as running away from responsibility.
So far I have never come across a casino online with such a service and I am sure that no online casino does because it is very risky.

I myself, as a gambler, have never wanted a service like that and don't want to exceed my limits by forcing a loan.

I think physical casinos give the facility of betting pay later using credit cards etc this is one strategy of the company to let gamblers lose more money in such casinos.
Because of course casino owners know that certain people have bad emotions or self-control so they let bets pay later and continue to lose large amounts because the bet pay later feature indirectly gives free access to bet on any game without thinking that the money will run out.

[Issa56]

So is gambling debt one way or other possible without the person taking loan or borrowing money?

Some excuses some people are always giving is kind of funny to me, I don't know maybe you asked the person for money, or maybe as he saw your message he was thinking you are going to ask him for money that was why he gave you excuse, so that you won't be disturbing him. I am a gambler and I haven't seen any online casino that will ask you to gamble and you will have to pay back later, am sure the person is just trying to deceive you. If gambling sites gives you loan to gamble, am sure lot's of people won't be paying back even if they are submitting their kyc. Am just thinking about it because I don't even know how they are going to do it and their customers won't be running away with their money.

[Fredomago]

If online and crypto casinos wanted, I could see a day where they started to give credit for their users to gamble, perhaps depending on their VIP status and total wager history and if there is some KYC involved since the beginning of the registration on the casino, it could be possible for the staff to find information on the credit score of the person, further helping with their risk evaluation.
 However, since online casinos have not need such system to exist for them to have good profits, it is also likely they won't use it.

Actually, that would be the logical requirements and pre-requisites if online casinos will have that pay later feature or granting their users a loanable balance. However, since the industry we are talking about is gambling, expect that the eligibility of loan requirements is tough and will be difficult to achieved.

Adding to that, the said loan amout surely can't be withdrawn immediately if users decided to convert it to cash, obviously. I'm also sure that there would be a turnover requirement before anyone can convert it to real cash depending on the loan tier.

With that being said, I doubt the majority will still be interested in that feature.

On that note, about difficulty in converting or withdrawing it into cash, maybe for some who are really addicted to gambling will bite, but for those who are not okay with that kind of setup, they might not use it. I agree that since it's a gambling industry, the way those casinos will let their clients barrow might be difficult, or might be different from the usual loan that being offered by banks or any financial aids.

If there's potential money making outcome, we might see it, but if there's none, maybe we won't see any.

[Beparanf]

On that note, about difficulty in converting or withdrawing it into cash, maybe for some who are really addicted to gambling will bite, but for those who are not okay with that kind of setup, they might not use it. I agree that since it's a gambling industry, the way those casinos will let their clients barrow might be difficult, or might be different from the usual loan that being offered by banks or any financial aids.

If there's potential money making outcome, we might see it, but if there's none, maybe we won't see any.

Casino will never offer this kind of feature since it will be a problem for them once the player file a complaint for a casino letting them lend money to gamble on their own premise.

This topic is already too old while gamblers can always use credit card to loan and convert to cash. It’s same with play now pay later since it’s in a form of debt. I never heard casino offering loan but there’s a lot of lender inside the casino that offers quick loan in exchange for a collateral such as car and jewelry.

[Hispo]

If online and crypto casinos wanted, I could see a day where they started to give credit for their users to gamble, perhaps depending on their VIP status and total wager history and if there is some KYC involved since the beginning of the registration on the casino, it could be possible for the staff to find information on the credit score of the person, further helping with their risk evaluation.
 However, since online casinos have not need such system to exist for them to have good profits, it is also likely they won't use it.

Actually, that would be the logical requirements and pre-requisites if online casinos will have that pay later feature or granting their users a loanable balance. However, since the industry we are talking about is gambling, expect that the eligibility of loan requirements is tough and will be difficult to achieved.

Adding to that, the said loan amout surely can't be withdrawn immediately if users decided to convert it to cash, obviously. I'm also sure that there would be a turnover requirement before anyone can convert it to real cash depending on the loan tier.

With that being said, I doubt the majority will still be interested in that feature.

On that note, about difficulty in converting or withdrawing it into cash, maybe for some who are really addicted to gambling will bite, but for those who are not okay with that kind of setup, they might not use it. I agree that since it's a gambling industry, the way those casinos will let their clients barrow might be difficult, or might be different from the usual loan that being offered by banks or any financial aids.

If there's potential money making outcome, we might see it, but if there's none, maybe we won't see any.

No, I do not think there is a reasonable way a casino would lend a gambler credit and at the same time allowing them to withdraw that money immediately.

As fas as I am concern, the casino would likely consider that loan as a debt (negative numbers) and one would be only allowed to use such money to continue the gambling session. If the gambler is lucky it may earn some money which surpassed the credit and could pay back the loan and keep the difference. Casinos are not banks, needless to say.

[LUCKMCFLY]

What if the loan amount is still small and within their capacity? And the reason why they took a loan is they can not wait to play anymore but it does not mean that they already lose earlier. It's just their urge to play a gambling unexpectedly kicks in. Borrowing small amounts of money should came up with smaller interest but the higher the amount the higher the interest as well.

IMO it's not bad to owe someone else money but as long as you are going to pay them on the designated time so that no hard feelings are going to be felt and nothing bad will happen to you because some people doesn't have a long patience and they might do a revenge eventually.

One should not borrow money from somewhere only to gamble because it will eventually start to become a habit, and one should be able to control the urge to gamble if they don't have money at that particular time, and if one can't control the urge, it simply means that they are addicted to gambling, and if that's the case, you won't refrain from taking a loan again once you've lost the previous one.

And if that continues, it can be bad for both the lender and the borrower, the lender won't be able to get all their loans back with interest because the borrower has already become an addict and will surely lose everything in gambling.

What you say is very true, there is nothing worse than lending money for a person to start investing or spending it in a casino, because obviously the person will be very Involved in the addiction of a casino, then if his streak is undoubtedly lost All your money will go away, and this is something that cannot be missed , the thing here is that a person who Enters a casino should not go Crazy , they should not lend money, and if they do, they should have the ability to pay, the rest should not I think it is a good Option, not here or Anywhere , much less to put it in Games of Chance.

[fullhdpixel]

No casino would survive with that kind of system. While they may attract a lot of borrowers, the question remains: can they ensure that they will receive the payment? We are discussing online casinos, where most of us gamble anonymously, so the risk for the operator is very high.

I am aware that some land-based casinos have lenders, but they would not easily lend money without collateral. This collateral serves as assurance since its value is higher than the loan, and the interest rates are typically high. These lenders are often referred to as loan sharks.

Just like in our small store business before. We also allow people to shop for goods and they can pay it later on. Some pays longer like after two weeks while some pays after a month. The outcome is not great and our business fails later on. We have no choice but to have that kind of system because our business location is not good enough.

It wasn't placed in a really crowded area but it was only placed in our own backyard where the customers are mostly the people that we already know the most. The same thing could happen to a casino if they implement such scheme. An active flow of money is important because we will also use it to maintain our service.

[dezoel]

So is gambling debt one way or other possible without the person taking loan or borrowing money?

Some excuses some people are always giving is kind of funny to me, I don't know maybe you asked the person for money, or maybe as he saw your message he was thinking you are going to ask him for money that was why he gave you excuse, so that you won't be disturbing him. I am a gambler and I haven't seen any online casino that will ask you to gamble and you will have to pay back later, am sure the person is just trying to deceive you. If gambling sites gives you loan to gamble, am sure lot's of people won't be paying back even if they are submitting their kyc. Am just thinking about it because I don't even know how they are going to do it and their customers won't be running away with their money.

That might not be an excuse and he had probably taken a loan from somewhere but maybe he didn't want to disclose that, that's why he said that the casino allowed them to gamble and pay back later, or maybe he used a credit card or something and is now having to pay back the credits that he used in gambling? I'm not sure but as you said, casinos don't generally give out loans to every gambler unless he was a loyal customer at a land-based casino and got a loan offer but I doubt they give such offers without collateral.

Even if an online casino decides to launch a program where they will give out loans to gamblers to play and pay it back later, I'm pretty sure that they won't do it for free and will surely ask for something as collateral before they can take a loan because they won't be able to do anything if a gambler doesn't return after gambling the money away.

[madnessteat]

No casino would survive with that kind of system. While they may attract a lot of borrowers, the question remains: can they ensure that they will receive the payment? We are discussing online casinos, where most of us gamble anonymously, so the risk for the operator is very high.

I am aware that some land-based casinos have lenders, but they would not easily lend money without collateral. This collateral serves as assurance since its value is higher than the loan, and the interest rates are typically high. These lenders are often referred to as loan sharks.

I agree with you. The return of funds in such a scheme is not guaranteed and depends on the influence of the casino owner and his friends)

It is actually possible to apply a similar scheme in online casinos using smart contracts, as it is done in DeFi lending, but frankly I don't see the point in it. Also, gambling on credit is not a good idea. So I don't welcome either such services or casinos that provide the opportunity to gamble on credit.

[Fredomago]

If online and crypto casinos wanted, I could see a day where they started to give credit for their users to gamble, perhaps depending on their VIP status and total wager history and if there is some KYC involved since the beginning of the registration on the casino, it could be possible for the staff to find information on the credit score of the person, further helping with their risk evaluation.
 However, since online casinos have not need such system to exist for them to have good profits, it is also likely they won't use it.

Actually, that would be the logical requirements and pre-requisites if online casinos will have that pay later feature or granting their users a loanable balance. However, since the industry we are talking about is gambling, expect that the eligibility of loan requirements is tough and will be difficult to achieved.

Adding to that, the said loan amout surely can't be withdrawn immediately if users decided to convert it to cash, obviously. I'm also sure that there would be a turnover requirement before anyone can convert it to real cash depending on the loan tier.

With that being said, I doubt the majority will still be interested in that feature.

On that note, about difficulty in converting or withdrawing it into cash, maybe for some who are really addicted to gambling will bite, but for those who are not okay with that kind of setup, they might not use it. I agree that since it's a gambling industry, the way those casinos will let their clients barrow might be difficult, or might be different from the usual loan that being offered by banks or any financial aids.

If there's potential money making outcome, we might see it, but if there's none, maybe we won't see any.

No, I do not think there is a reasonable way a casino would lend a gambler credit and at the same time allowing them to withdraw that money immediately.

As fas as I am concern, the casino would likely consider that loan as a debt (negative numbers) and one would be only allowed to use such money to continue the gambling session. If the gambler is lucky it may earn some money which surpassed the credit and could pay back the loan and keep the difference. Casinos are not banks, needless to say.

Indeed, they will not allow that to be easy though chances might be done if you are really having a good credit stand or you already develop good trust from the owner, though if offshore maybe yes but if online, where things is very different, trust thing is something that really hard to earn, especially if you are dealing with casinos, the facilitator would be more willing to continue without giving any special privileges to anyone as business will be protected to any kind of scamming activities from the users.