Give Him a loan Or Partner With Him

[summonerrk]

What would be the best option if a friend who happens to be good at horse racing lost his fortune coming from betting in horse racing because of illness and came to you and asked for a loan and honestly stated that he wants to use it betting in horse racing to recover his fortune.

But you have doubts because he is away betting horse racing for a long period of time and he might lose the money because you have to be updated on the conditions of the horses, jockeys, and the many handicaps, and his anxiety about recovering his fortune might fail he offers you two options loan him money or just partner with him.

What's your best course of action in this scenario?

A common friend confided this to me.

Friendship is the most valuable and important thing in life. But you always need to be able to separate friendships and money, and this is very important, they should not mix with each other. If your friend asks you for money, but at the same time he can leave, then the only best way will be to help him out with money, but at the same time conclude a written contract with him, which will describe all the amounts that you lend him. At the same time, the timing of the return of this money should also be described. This will allow you not to be left without money if this friend suddenly decides that disappearing with money is more important than your friendship.

[Don Pedro Dinero]

Taking a loan for betting is never a good idea, even if he is a long-term sports betting winner. I would probably try neither to lend him the money nor partner with him.

If I was forced to and had absolutely no choice but those two, it would depend very much on the person and the circumstances. I would probably partner with him until I got my money back and a bonus for the risk taken and that's it. He's not going to be paying you for the rest of his life because you lent him money once.

[Wexnident]

~

Wait he lost in horse betting because he was sick or is he just sick, sick? Cause if the former, then that's kinda bs, and if the latter and he's asking you to give him money to bet, I'd question him why he isn't asking a loan for his sickness instead.

In the first place, I'd never, ever loan to someone, whether they be friend or family, if the purpose was for gambling. If it wasn't for gambling but it is given to a gambler, then I'd need to check whether said money is actually spent on whatever need they have. I'd even be willing to spend the time to assist and check it myself.

[Xxmodded]

Giving loan for betting is not recommeded although how close you are as best friend or not, loan is faster way how to cut off your relationship not only between friend but also as the family. I don't think good ideas giving loan for your friend to horse race bett actually with bad reputation loss much in that kinds gambling.
You can give few dollar as best friend relationship under 20$ to 50$ and never give loan yet if your friend using for betting, there are not guarantee with your friend horse race betting will win and he doesn't earn money yet for loan payment later.

[len01]

What's your best course of action in this scenario?

after you say if he is very rich and loses at horse races loses all his wealth I will only choose the option not to lend money to him because it is clear from the start he is a rich man who can lose all his money and if you give loans to him he will definitely lose too money when defeat comes take everything. on the one hand, this effort is not that we are evil to friends not to give loans, but this effort can prevent them from losing too much money to gamble.

but if he has a job or an established business I think its fine to give him a loan because he has the income from his business to be able to repay the loan.

[davis196]

What would be the best option if a friend who happens to be good at horse racing lost his fortune coming from betting in horse racing because of illness and came to you and asked for a loan and honestly stated that he wants to use it betting in horse racing to recover his fortune.

But you have doubts because he is away betting horse racing for a long period of time and he might lose the money because you have to be updated on the conditions of the horses, jockeys, and the many handicaps, and his anxiety about recovering his fortune might fail he offers you two options loan him money or just partner with him.

What's your best course of action in this scenario?

A common friend confided this to me.

I wouldn't give him any money. Period. What do you mean by "partnership"? You both split the cost of the bets and then split the profits?
Such type of partnership still doesn't seem reasonable to me.
I don't care how good he is at betting in horse racing(or any other gambling activity). Gambling is extremely risky and I don't trust people, who claim to be good at gambling games. Even the best gamblers had suffered great losses and there's no way for anyone to provide consistent profits out of gambling.
If your friend had lost his fortune, that's his problem, not yours. He must get a job, work hard, save some money and start gambling again with his own savings. If he wins, that's great. If he loses, that's his fault

[borovichok]

Taking a loan for betting is never a good idea, even if he is a long-term sports betting winner. I would probably try neither to lend him the money nor partner with him.

If I was forced to and had absolutely no choice but those two, it would depend very much on the person and the circumstances. I would probably partner with him until I got my money back and a bonus for the risk taken and that's it. He's not going to be paying you for the rest of his life because you lent him money once.

Everyday, people finds themselves in tight corner that would either explore them or make them fall back to trenches. I totally understand the whole sad incidents but there's always chances to bounced back but with more reliable source of income, and definitely not gambling. Lending him money, there's 90% probabilities that he will liquidate all this money because he will not gamble with the stable mindset and having the plans to multiply his funded money because has calculated number of time to pay back, putting him under pressure. There are many ways to resolved this matter without mentioning loan or partnership because both choices still make no sense to me.

[noormcs5]

What would be the best option if a friend who happens to be good at horse racing lost his fortune coming from betting in horse racing because of illness and came to you and asked for a loan and honestly stated that he wants to use it betting in horse racing to recover his fortune.

But you have doubts because he is away betting horse racing for a long period of time and he might lose the money because you have to be updated on the conditions of the horses, jockeys, and the many handicaps, and his anxiety about recovering his fortune might fail he offers you two options loan him money or just partner with him.

What's your best course of action in this scenario?

A common friend confided this to me.

I will not risk my money by giving loan to him even though I know his predictions are good. Basically we should not think that if a person is good  at predictions he will always be right in his bets. Sometimes the upsets do happen and who knows that it is that time where he loses with our money.

Just make a simple principle in life and that is not to give any loans to the one's who want to gamble with our money.

[NotATether]

What would be the best option if a friend who happens to be good at horse racing lost his fortune coming from betting in horse racing because of illness and came to you and asked for a loan and honestly stated that he wants to use it betting in horse racing to recover his fortune.

That is like Homer Simpson collecting all the family's money for racing purposes and making a ridiculous bet that loses.

Nobody should provide any loans for gambling, the house edge is simply too high in all cases to expect any reasonable return or profit to be made. Not even if it is to a friend, because you should not be gambling what you can't afford to lose in the first place.

[bakasabo]

I would prefer an option to give a loan instead of partnering, because in that option that person owes you whole sum and you would get less profit (or even zero profit) and risk. While if you partner, you will  get only half in case bet looses. If you become a partner, think of becoming addicted also and make unnecessary bets. I would have more doubts if I should involve in that at all, instead of thinking giving a loan or becoming a partner. As this is not just to choose how to part with money, but how to get involved into gambling or not, as this friend might drag you into betting and you both could lose all fortune.

[rhomelmabini]

What would be the best option if a friend who happens to be good at horse racing lost his fortune coming from betting in horse racing because of illness and came to you and asked for a loan and honestly stated that he wants to use it betting in horse racing to recover his fortune.

But you have doubts because he is away betting horse racing for a long period of time and he might lose the money because you have to be updated on the conditions of the horses, jockeys, and the many handicaps, and his anxiety about recovering his fortune might fail he offers you two options loan him money or just partner with him.

What's your best course of action in this scenario?

A common friend confided this to me.

I think I'd go with my doubts that he will not be updated anymore on these kind of things. If I'd give him a loan I guess it would be wise if there's some kind of collateral that he may offer. It's a risky thing considering he'd just put it on gambling which will not be so sure if he'll be the same man before that's good at it. Or, just don't give him any money.

[Gallar]

What would be the best option if a friend who happens to be good at horse racing lost his fortune coming from betting in horse racing because of illness and came to you and asked for a loan and honestly stated that he wants to use it betting in horse racing to recover his fortune.

But you have doubts because he is away betting horse racing for a long period of time and he might lose the money because you have to be updated on the conditions of the horses, jockeys, and the many handicaps, and his anxiety about recovering his fortune might fail he offers you two options loan him money or just partner with him.

What's your best course of action in this scenario?

A common friend confided this to me.

Personally, if a friend like that visits me, actually these two options are not a bad thing. Because both options have their respective advantages and disadvantages.
For example, suppose I lend money to my friend to continue gambling, psychologically I don't need to worry about anything, because I lent the money and my friend will definitely return it. Then if I partner with my friend, the profit lies in the income that will be obtained when my friend makes a profit. But the risk is that when my friend experiences a loss, I personally will automatically lose too.

So if you look at that, if you want profit, I will definitely choose the option of partnering with my friends, but at the risk of experiencing losses when my friends face losses. But if you want security, I will definitely choose to lend it. So because I prefer those with minimal risk, I prefer the option to lend it.

[iv4n]

What's your best course of action in this scenario?

We are talking about gambling, so if we decide to lend money to a gambler, we must be aware that there are always chances that the money will be lost. Are we ready to forgive the debt in that case? Gamblers rarely have money to pay back, because they usually lose everything they earn...

The best choice is to stay away. Landing is good if you really trust someone, and you know they have ways to return the loan. But when it comes to gambling and giving loans to others for gambling... I don't think it's the smartest idea.

[ethereumhunter]

I'll be honest if I can't lend him the money, especially if the money will be used to bet on horse races. I don't know how skillful he is at picking a good horse that has a chance of winning but it is gambling and in gambling, it is hard to win so if he borrows money from me or anyone else, it will make it difficult for him to pay back the money he borrowed.

Maybe it's cruel because he's our friend but I don't want to put him in the difficult position of being unable to pay his debts. Apart from that, I also don't want my friendship with him to be damaged just because of money. He could borrow from someone else, but I don't want to risk it if he can't repay the money he borrowed.

[demonica]

It's actually hard to lend someone money knowing that he'll just use it in gambling. Although he has a history of being a good bettor at horse racing, it won't still give you an assurance since gambling is a risk. Maybe it's better to advice him to find another source of money. So when he have extra, he can go back to horse racing again if he wants to.

But just like what we've been hearing here, loaning money to use it in gambling is never a good idea. What if he lost and wasn't able to get back the money he borrowed. How will you get your money back as well? Although he was honest about using it in horse racing,  I still wouldn't let him borrow money. It's like you're feeding his desire that could lead to addiction.

[Taskford]

What would be the best option if a friend who happens to be good at horse racing lost his fortune coming from betting in horse racing because of illness and came to you and asked for a loan and honestly stated that he wants to use it betting in horse racing to recover his fortune.

But you have doubts because he is away betting horse racing for a long period of time and he might lose the money because you have to be updated on the conditions of the horses, jockeys, and the many handicaps, and his anxiety about recovering his fortune might fail he offers you two options loan him money or just partner with him.

What's your best course of action in this scenario?

A common friend confided this to me.

You don't need to get pressured on his request since if you can't afford to grant his request then decline it since this is more better decision to do and it can help you to get away from stress and also you can save your relationship with your friends since everything might fall apart if he fail from his plans.

Just give him an advice on what is the most proper way to do and he need to stay away from gambling for a while and focus on recovering. After that maybe he can go back to what his activity if he's 100% healthy and financially ready.

[blockman]

I will not risk my money by giving loan to him even though I know his predictions are good. Basically we should not think that if a person is good  at predictions he will always be right in his bets. Sometimes the upsets do happen and who knows that it is that time where he loses with our money.

Upsets do happen like they're happening at most times.

Just make a simple principle in life and that is not to give any loans to the one's who want to gamble with our money.

I agree, if a gambler asks money from the bank, he'll get rejected and declined. So, as an individual even if you know him personally and for a long time, if you're too worried about your money then just avoid and say no. It's okay to say no in times like this because the borrower isn't even in danger but only want to satisfy the crave to gamble and have some quick buck from it.

[Wakate]

Taking a loan for betting is never a good idea, even if he is a long-term sports betting winner. I would probably try neither to lend him the money nor partner with him.

If I was forced to and had absolutely no choice but those two, it would depend very much on the person and the circumstances. I would probably partner with him until I got my money back and a bonus for the risk taken and that's it. He's not going to be paying you for the rest of his life because you lent him money once.

Gambling most time is unpredictable and we need to measure our risk before we decide to go into gambling fully to avoid unnecessary loses and torching stories. I will never support going for loan in order to make bet just to recover lost funds. A lot of things are happening and we need to be very careful on how we make decisions that can affect us in a long run because of our wrong decisions if not taking with consciousness. There are many gamblers that had lost there funds because they used emotions to gamble which is very dangerous.

[AprilioMP]

Because it is too difficult to earn money, I will not be willing to deposit money for him for the purpose of gambling.
There is nothing that can guarantee the money will be returned at the right time in gambling.

It's different if he is an athlete in horse racing, I will help him as much as I can.
Very experienced in borrowing and giving loans. As a gambler, at least the gambler must be responsible for the gambling they do. Don't because gambling is all messy.

[Negotiation]

Taking a loan for gambling is never a good idea there is no exact guarantee of winning in gambling. If you lose paying off the debt will be difficult and stressful also not good to partner with anyone the risk will be less if you have to limit yourself to what you win or lose. So when deciding whether to save or borrow for a bet start by asking yourself how quickly you need the item. If you are too worried about money then review your borrowing options and choose the one with the lowest cost. Finding alternatives to gambling without borrowing money will help you move your life forward. But take a loan and think about how to use that loan. A good understanding of bad debt can help you make better use of it in your life.