Give Him a loan Or Partner With Him

[uneng]

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.

In this case, if I had spare money, I would lend to him. The guy is a good friend, has always been very successful on his bets, plus growing the money earned into a fortune, showing a very responsible behavior. Inevitably he had to spend with health issues, so I think he deserves a helping hand. Let him celebrate his life doing what he enjoys! I couldn't desire something different for someone who had been ill, especially if close to death.

It's different from the situation involving a scammer or compulsive gambler. We can't generalize.

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[Dzwaafu11]

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.

Gambling is gambling. Once he mentions that he will use the money to bet, I won’t borrow him that money because I’m afraid of borrowing him money and coming back and hearing another story. At the end of the day, gambling has no guarantee of getting the money back, which means the money may not come back, and whatever expert you are, you will still lose in gambling, so the only thing I can do for this friend is that I won't borrow him money, but I will give him some money that I know, even if he didn't tell me to borrow him, I will give him for free. If the money won't be enough for him to get what he wants, he can now go to another place; maybe he will get someone who can risk his or her money to borrow him and place the bet.

Before giving a friend a loan for gambling, you should keep in mind that it will always be too difficult to get your money back. You should consider how he would be able to repay you in the event that he was to lose money gambling. After all, it appears that this is how he makes his life. There is no other source of income he has apart from gambling. Repaying your loan to you will be based on whenever he wins in his horse race gambling and recovers his losses.

The best option in this scenario is to give him the amount you know, it won't give you a headache if he refuses to pay you back. As for loaning a friend money to gamble is what to avoid. If you still want to be friends with him.

Exactly. Borrowing a gambler's money is just like investing what you can afford to lose. because there is no guarantee of getting your money back, so while making a decision like this, you need to be very careful of the kind of amount of money they will request from you as a loan, even if they are friends, because he may place the bet and he will lose, and you can’t ask for what there isn't. As it shows, the OP friend doesn’t have any other way of getting money than horse race betting, so you can see that there is no possibility of getting the funds back if he loses the bet.

[Aikidoka]

~snip~

I do not lend money and do not cooperate with people in whom I have doubts, as I have met many times both with fraudsters and unpunctual people who do not honor the terms under the contract. As I understand the person who told you this story doubts this person, so if he still intends to cooperate with him or lend him money, let him draw up a contract and notarize it, so that then there were no unpleasant situations.

Same here, I don't lend money to people who will use it for gambling, as it's too risky and there's no guarantee that they'll pay me back. Even if someone is a professional bettor, I still wouldn't trust anyone with my money when it comes to gambling. However, if they have a stable job and receive a salary, I might consider it especially if they are a close friend.

[danherbias07]

@everyone I think it's a good point just give him what you can afford to give or better have a group session so all our friends will give what they can afford to give, I don't think he can find work with his condition he is a diabetic and he has his left foot amputated and he is in maintenance his gambling might have an impact on his health, but if ever he still good in betting I will encourage him if he recovers his fortune to just maintain a variety store, there's too much stress in gambling for someone like him with a lingering illness.

We will have a chat tomorrow morning.

That's the right thing to do, for me.
Gambling will just add problems for him and if he is diabetic then the best place that the money will go is for his insulin or other medication that is needed for his treatment.
It's not like you are being selfish in what you are doing, you are actually the helping hand by not letting him go through more stress.
Ask him why would he like to spend the rest of his life gambling. How about his relatives? Doesn't he feel like he should be spending more time with them, especially in his case? I think the habit when he was stronger is just coming back and I have my own experience with my father behaving that way after he was stroked. He still likes to gamble in cockfighting although there's no way he can walk to the cockpit anymore.
The only help I gave him is by letting him watch the live cockfights during Saturday afternoon, thankfully he enjoyed it.

[Odusko]

Too risky a risk to take man, is a red flag to give friends and families loans because they may likely not pay back, worst scenario in this case is that your friend want to take the loan to gamble with the money which we all know that there is nothing like expertise in gambling and is high risk activities.
This make is very clear in my opinion that you have high chance of not getting the money back in the long run, Let your friend get a stable job if his health conditions permit that, and he should gamble with any amount he has but should not take a loan to gamble with because that will lead him into a bigger mess.

[Fatunad]

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.

Gambling is gambling. Once he mentions that he will use the money to bet, I won’t borrow him that money because I’m afraid of borrowing him money and coming back and hearing another story. At the end of the day, gambling has no guarantee of getting the money back, which means the money may not come back, and whatever expert you are, you will still lose in gambling, so the only thing I can do for this friend is that I won't borrow him money, but I will give him some money that I know, even if he didn't tell me to borrow him, I will give him for free. If the money won't be enough for him to get what he wants, he can now go to another place; maybe he will get someone who can risk his or her money to borrow him and place the bet.

Before giving a friend a loan for gambling, you should keep in mind that it will always be too difficult to get your money back. You should consider how he would be able to repay you in the event that he was to lose money gambling. After all, it appears that this is how he makes his life. There is no other source of income he has apart from gambling. Repaying your loan to you will be based on whenever he wins in his horse race gambling and recovers his losses.

The best option in this scenario is to give him the amount you know, it won't give you a headache if he refuses to pay you back. As for loaning a friend money to gamble is what to avoid. If you still want to be friends with him.

Exactly. Borrowing a gambler's money is just like investing what you can afford to lose. because there is no guarantee of getting your money back, so while making a decision like this, you need to be very careful of the kind of amount of money they will request from you as a loan, even if they are friends, because he may place the bet and he will lose, and you can’t ask for what there isn't. As it shows, the OP friend doesn’t have any other way of getting money than horse race betting, so you can see that there is no possibility of getting the funds back if he loses the bet.

Dont tolerate him and if you do see that he had some slight gambling addiction then there's no way that you should really be lending him some money and if you dont like to have that kind of potential problem in between your friendship then it would really be just that better that you should reject or would really be trying out to say that you dont have money instead on making him getting some loan. You arent that blind on not to see the condition specially if he do still that in recovery.Even we do say that he has some good record when it comes to sports betting but we know that we cant really be lucky forever. What if he would really be able to lose it all on the time that he had played out gambling and then make a reasoning that he cant really be able to repay you and it might take up some time? For sure it would really be bringing up that kind of
conflict in between  you two and if you dont like for it to happen then its better not to tolerate him on giving up some loan even if you do have the money then it would be ideal that you should be
pushing him to play even more. Getting some loans for desperate gamblign sessions? Its never been that ideal nor good at the first place.

[Casdinyard]

@everyone I think it's a good point just give him what you can afford to give or better have a group session so all our friends will give what they can afford to give, I don't think he can find work with his condition he is a diabetic and he has his left foot amputated and he is in maintenance his gambling might have an impact on his health, but if ever he still good in betting I will encourage him if he recovers his fortune to just maintain a variety store, there's too much stress in gambling for someone like him with a lingering illness.

We will have a chat tomorrow morning.

Exactly what I had initially proposed. You don't help him through giving him the money to gamble, you help him with whatever you can give/impart to ease up his illness and then by then, help him get a more stable source of income cause when you're betting and all that, there's no clear reliable way for you to really earn, no matter how good you are at it. He already lost his fortune, which makes me think that either he's uninsured or he's bad at financing, which will only become a recurring issue even if he does get his fortune back.

Teach a man how to fish as they say. but in your friend's case, you gotta give him the fish too.

[maydna]

Too risky a risk to take man, is a red flag to give friends and families loans because they may likely not pay back, worst scenario in this case is that your friend want to take the loan to gamble with the money which we all know that there is nothing like expertise in gambling and is high risk activities.
This make is very clear in my opinion that you have high chance of not getting the money back in the long run, Let your friend get a stable job if his health conditions permit that, and he should gamble with any amount he has but should not take a loan to gamble with because that will lead him into a bigger mess.

It is better not to lend him money if we already know the risk that he will not return the money to us. That would be much better, especially if the money is used for gambling, where gambling will not always result in winning. It would be better for him to look for a loan from somewhere else or get a job to make money and use it for gambling. That way, he won't have to owe you or anyone else anything, and it will keep him out of the trouble of repaying his debt. And with his own money, he can freely use it for whatever he wants, even if it's for gambling.

[TastyChillySauce00]

Too risky a risk to take man, is a red flag to give friends and families loans because they may likely not pay back, worst scenario in this case is that your friend want to take the loan to gamble with the money which we all know that there is nothing like expertise in gambling and is high risk activities.
This make is very clear in my opinion that you have high chance of not getting the money back in the long run, Let your friend get a stable job if his health conditions permit that, and he should gamble with any amount he has but should not take a loan to gamble with because that will lead him into a bigger mess.

It is better not to lend him money if we already know the risk that he will not return the money to us. That would be much better, especially if the money is used for gambling, where gambling will not always result in winning. It would be better for him to look for a loan from somewhere else or get a job to make money and use it for gambling. That way, he won't have to owe you or anyone else anything, and it will keep him out of the trouble of repaying his debt. And with his own money, he can freely use it for whatever he wants, even if it's for gambling.

There have been many stories you would be got a new enemy once you were lending your money to your friends. I saw that hundreds of times. It's not a recommended way to lend your money to your friend once you knew that your friend is unlikely to pay back it.
Never try to do that or you will be risking yourself in a problem with your friend. There's no guarantee if your friend will be winning the bet. Even though it was not slot but it's not also guaranteed your friend to win the game.

The better thing to do is telling him about he available job and he can get money through working. I saw that many times people were always in trouble caused by they were lending their money to their close friend.
The decision to lend him is the worst one that could be made.

A lot of people are also aware of how difficult to get back your money once your friend was losing the game.

[Josefjix]

It is better not to lend him money if we already know the risk that he will not return the money to us. That would be much better, especially if the money is used for gambling, where gambling will not always result in winning. It would be better for him to look for a loan from somewhere else or get a job to make money and use it for gambling. That way, he won't have to owe you or anyone else anything, and it will keep him out of the trouble of repaying his debt. And with his own money, he can freely use it for whatever he wants, even if it's for gambling.

Winning remain the priorities for most of these gamblers, we just have to stick to drawing out good mappings that would results in profits for us, however we can not also prevent losses along the line, because losses can not be permanently removed but can be temporarily prevented for estimated period of time. You're absolutely right about the stated out suggestion. Lending him money to gamble is another risks because he would be put under pressure to make more money to recover the money he borrowed and also the ones he lost to gambling, making the whole circumstance complicated and tough to handle.

[retreat]

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.

Depending on the conditions, if in the past I had a debt of gratitude to him maybe I would help him with money and maybe more than that. But if he's just friends and we're not that close, maybe I won't give him a loan, because the chances of him losing are pretty big and we're not that close for me to sacrifice for him.

[gunhell16]

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.

If you immediately feel doubt about what he needs, there is no reason for you to grant what he wants to happen to what he borrows from you. It is difficult because you help someone who has doubts, and it will come out as if what you are doing is against your heart.

Maybe it's also good to be honest and explain properly why you can't give him what he wants. Because if you think that you are going to lend money to the person and then you know that he will also use it for something else, there is no certainty that the loan will go to something meaningful, and it will appear as if you just wasted or threw money away.

[Rabata]

~snip~

I do not lend money and do not cooperate with people in whom I have doubts, as I have met many times both with fraudsters and unpunctual people who do not honor the terms under the contract. As I understand the person who told you this story doubts this person, so if he still intends to cooperate with him or lend him money, let him draw up a contract and notarize it, so that then there were no unpleasant situations.

Same here, I don't lend money to people who will use it for gambling, as it's too risky and there's no guarantee that they'll pay me back. Even if someone is a professional bettor, I still wouldn't trust anyone with my money when it comes to gambling. However, if they have a stable job and receive a salary, I might consider it especially if they are a close friend.

I have loaned to such people in the past but they talk as they do when borrowing but there is a gap between their words and deeds at the time of payment. I don't want to put myself at risk by lending my money to others. Especially for gamblers. If they are desperate for money before gambling and lose, they have no alternative way to pay. But yes, it is considered safer for those who have a specific source of income like a job. Even if they lose, they can make up for it after a certain period of time. But there are some gamblers who are very sophisticated who want to pay off their debts on time and there is no chance of any loss in lending them.

[SOKO-DEKE]

I don't see any reason why I would borrow gamblers money and expect him or her to pay me back later. I know he or she will find it difficult to pay me back because gambling is not a reliable source, and no matter how good someone may claim at gambling because gambling is a guarantee option. What I can only do if I have money to give out is maybe give such a person money, but I don't think I can borrow gambler's money, no matter how close the gambler may be to me. I am not sure I can take the risk.
 
If it is not that someone is addicted to gambling, how would someone think of taking a loan to gamble on something that has no guarantee and whose probability of losing is still high? I will say that is a bad idea. I have seen many gamblers take out loans to gamble many times before, and what they end up is still lose all the money there. But the truth is that it will be very hard to see a gambler trying to take a loan, and they will tell you the truth: they want to use it to gamble. They can only lie and take the loan because I don't think anybody will go along with the idea of giving a loan to gamble.

[Jawhead999]

It's just his expectation, imagine if you've give your money to him which actually you can't afford to lose because you're also think he will win, but what if your friend lose? what will you do to your friend? if you can't accept the lose, you will angry and blame him everytime. But as we know he's sick, so you will make his condition become worse and it's not good for both of you and him.

The best is reject it and explain it with logic.

[Dickiy]

It's just his expectation, imagine if you've give your money to him which actually you can't afford to lose because you're also think he will win, but what if your friend lose? what will you do to your friend? if you can't accept the lose, you will angry and blame him everytime. But as we know he's sick, so you will make his condition become worse and it's not good for both of you and him.

The best is reject it and explain it with logic.

Yes, it's true that it's just their expectations and shadows, for the result, obviously I think it's only 50-50, meaning that it's not necessarily winning and not necessarily losing but it's wrong to assume that the final result will match their expectations, even though it's just nonsense haha. Yes and I would also advise you to lend him instead of partnering with him, because as you said if you partner and your friend wins then yes you will get a percentage share of the winnings, but the question is if your friend loses? Obviously you will not receive the results and your money is lost there. Therefore if I have to choose between lending or partnering then obviously I would prefer to lend it because there is a guarantee that the money will be returned whatever the outcome of your friend's gambling, and in my opinion it is useful to minimize things you don't want (defeat).

But yes, if there is another option, it is better for you to just let the offer go, as you said, don't choose the first and second choices, and talk to him about the reasons why you rejected it, and indeed that is better.

[AicecreaME]

I don't really recommend both because the options you provided are risky. The moment you allow him to loan, there's a chance that you won't be able to get your money back. Let's be frank here, a borrowed money should be considered gone unless you have an agreement stating the deadline of payment which is notarized by an attorney to have an assurance. But if you will just let them borrow and use your conversation as proof, then don't expect anything in return. Because most often than not, people are only polite and kind when they need something, but when it's your time to ask them for what they borrowed from you, they become aggressive and angry.

Partnership isn't also recommended because he might forget about it and not give your share to you. Sometimes greediness takes over a person so you can't really be sure. What you can do instead is to give him an amount that isn't heavy on your heart to help him. GIVE and not LOAN. This way, there will be no hard feelings if he won't return the money because it's just your spare.

[Peanutswar]

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.

If he wins there's a percentage of yours? but if he loses it a 100% in your part I guess the ideal is to lend him a loan to you if you are willing to, because at the ends you will get a return plus the interest if you want or as is with the 1:1 ratio because its your friend, for me partner with him is not a win win in your side, but if you have a good result with games I guess that's the time you are building your trust to him and you are willing to take the risk.

[anjiitem]

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

If I were in that condition then I would not lend my money to him to gamble or bet, even though he has good luck and knowledge in betting or even gambling games. I have several times had the experience of lending the money that I have to be used by some friends to gamble or bet on sports betting, but in the end it always only damages the friendship between me and some of my friends.
I don't know if I'm the only one who always ends up bad when lending friends to bet or gamble or does everyone feel that way too?.
I think it is better to lend them to open a small business or a business than to lend them to gamble because there is a high probability that they will not return the loan if it is used for gambling or betting.

[8rch7]

If he wins there's a percentage of yours? but if he loses it a 100% in your part I guess the ideal is to lend him a loan to you if you are willing to, because at the ends you will get a return plus the interest if you want or as is with the 1:1 ratio because its your friend, for me partner with him is not a win win in your side, but if you have a good result with games I guess that's the time you are building your trust to him and you are willing to take the risk.

Looks not good option with loan clause, if his friend winning will pay with loan interest and bad for borrower have to pay full 100% if get loss in betting, actually is not recommended to be partner in gambling platform because he can't promising will win in gambling and get repayment your loan with ration 1:1 without ask him higher loan interest although he won in gambling.

Partnership isn't also recommended because he might forget about it and not give your share to you. Sometimes greediness takes over a person so you can't really be sure. What you can do instead is to give him an amount that isn't heavy on your heart to help him. GIVE and not LOAN. This way, there will be no hard feelings if he won't return the money because it's just your spare.

Get partnership seems has chance for his friend not worry when losing in betting, you right is not recommended to get relation partner for betting and not the same with building business. More than 80% of chance for gambler are loss but they try with fewest chance percentage to win in betting. I don't see any potential earn profitable with gambling and give them loan for all in or depositing in gambling platform.