Do not gamble with Loan Money~otherwise you will be in danger like me

[traderethereum]

There are many different reasons why a person gambles with loan money, but the most common reason is they look for easy money they can use for their needs. But as you have said, it will feel like you stab yourself if you happen to do this. That's true, the money quickly disappear in gambling but your loan will last for two years. Aside from paying your loan money, it comes with an interest that is sometimes high which makes it hard to pay.

It is a very common scenario that you can see in gambling, there's nothing wrong with it. However, due to our emotions, we often forget to stop and control ourselves when it comes to gambling. As long as we know that we still have money, we will use it until we get our desired winning in gambling.

They are looking for quick money so they can immediately use it for gambling. They don't think about what happens if they lose because what they want is to be able to gamble again to win the gambling game.
They don't think about how to repay their debt if they lose and do the creditors want to wait until they have money first before returning their debt?
If the lender is a loan shark, they will experience difficulties. After all, the loan sharks will likely look for their valuables to use as collateral.
Those who gamble can lose track of time when playing gambling. Because of the increase in emotions, it will make them lose control of themselves, especially if they experience consecutive losses. This will clearly affect his calm when playing gambling. And if that's the case, we can guess what will happen to him.

[uneng]

Aside from paying your loan money, it comes with an interest that is sometimes high which makes it hard to pay.

I read what the op said and this was the first thing that pops up in my mind, I don't know for others but in my area taking loans comes with a big risk, like if you cannot meet up the date when you're expected to pay the lender, the lender will increase the money, so living in this kind of area you cannot just wake up one morning and decide to take loan, you must first consider the terms before taking a loan, right now the op is in a big problem with that kind of amount, I hope he will be able to settle the loan.

And interest from banks isn't the same interest they pay you when you invest your money with them for passive income. When you are the one lending, they pay a low annual percentage over your funds, but when you are borrowing, then huge interest is charged over the total sum borrowed in a monthly basis. Here in my country interest can reach without much difficult to 3% monthly! If that was OP's case, he would pay 72% interest, plus the total sum of money he borrowed, since he was talking about recovering himself in a 2 years time period (24 months x 3%). So, 2180$ + 1569,60$ = 3749,60$.

That is a huge setback for any citizen from a third world country, who could be using this money to invest on his house, purchasing a new car, travelling with the family or guaranting their basic needs for a whole year. Now he is going to spend 2 years of his life to work for the bank, without being paid anything in the end...

[piebeyb]

The op did the right thing by bring this topic although most people will criticize him but it's a lesson for those who wants to take a loan to bet thinking they will make profit, firstly don't take what's not yours to bet it sounds risky. But most people with that mindset will not listen and learn from the op mistake rather they will go ahead to take loan to gamble.

There is no problem with any criticism as long as it produces something positive because the OP raised this topic so that other people don't make the same mistake as what he did so I think this topic is very good for beginners so they can learn the dangers of using borrowed money to gamble because whatever Don't ever gamble using money that doesn't belong to you, let alone borrow from loan sharks.

It's best to gamble wisely using unused money and cold money because it allows us to gamble comfortably without having to think about how to pay the debt, because gambling doesn't always mean winning and making a profit, there is a big risk that must be borne if you use money. loans for gambling. I hope this topic can make many people aware not to do it.

[Ever-young]

I have always advised people not to take gambling seriously but I myself became heavily addicted to live blackjack from stake.com and kept winning and losing. In this case I will not blame the gambling site because they give live cards. I started the game with just $20 but gradually I got addicted to it and wanted to gamble and win bigger amounts by depositing bigger amounts. I lost $1700 playing this way then I decided to play with a much bigger amount and recover all the losses then quit gambling for this I borrowed 270000 BDT ($2180) from the bank and deposited there. But unfortunately I lost them. Now I am financially so weak that it has become very difficult to meet my family expenses and I owe the bank $2180 which will take me a long time to pay off. Now it will take about 2 years for my financial situation to be normal again. Gambling addiction set back my normal life by 2 years. I am a victim of real experience and I am sharing my real experience with you.  Don't make the same mistake I did.  And never decide to gamble with a loan. If you do, your situation may be similar to mine. so beware of gambling

There has been many cases we've heard about gambling addiction and its consequences, that's why I always advice people to try their best to stay away from it if you feel you can't control yourself, but that's not as easy as I say it. I've also heard my own share of gambling addiction, although mine wasn't this bad, I lost a lot of money, my account completely turned 0 and I started my life from scratch, but my joy was that I didn't owe no one, I didn't borrow any money to gamble so I was debt free, but I lost all my money. That was more than enough lesson to teach me that irresponsible gambling would only bring me to my doom. So that was the day I killed the addiction. It was that easy for me and I thank God for that.

[Hirose UK]

The op did the right thing by bring this topic although most people will criticize him but it's a lesson for those who wants to take a loan to bet thinking they will make profit, firstly don't take what's not yours to bet it sounds risky. But most people with that mindset will not listen and learn from the op mistake rather they will go ahead to take loan to gamble.

There is no problem with any criticism as long as it produces something positive because the OP raised this topic so that other people don't make the same mistake as what he did so I think this topic is very good for beginners so they can learn the dangers of using borrowed money to gamble because whatever Don't ever gamble using money that doesn't belong to you, let alone borrow from loan sharks.

It's best to gamble wisely using unused money and cold money because it allows us to gamble comfortably without having to think about how to pay the debt, because gambling doesn't always mean winning and making a profit, there is a big risk that must be borne if you use money. loans for gambling. I hope this topic can make many people aware not to do it.

Yes, thread with points like this will be very useful and can give a warning or tell us all not to do things that should be avoided and we can learn that in the future, if you don't have money it better to stop and if you lose it better not to try to recover it.
If we can implement these two attitudes, I sure that we can have guarantee of being wise and responsible gamblers and that all bad events can be avoided indirectly.
Honestly, threads like this will really provide much better benefits for the development of every gambler and they will learn from incidents like this to be able to think away from all detrimental attitudes in the future.

Well, that good advice because gambling poses very big risk, even any amount of money can be lost, so we as gamblers must really sort or use money to the best of our ability and can accept losing.
Of course, we all don't want to lose, but here gambling gives us that defeat, so when we decide to gamble we also have to be able to accept every defeat.

[Jawhead999]

Well, that good advice because gambling poses very big risk, even any amount of money can be lost, so we as gamblers must really sort or use money to the best of our ability and can accept losing.
Of course, we all don't want to lose, but here gambling gives us that defeat, so when we decide to gamble we also have to be able to accept every defeat.

Gambling has an odds, so it will make you lose in the long run. Sometime you might win, but it won't last longer, however it also doesn't mean the casino is set up to make the gamblers to lose, they're not controlling the result because their games have provably fair system.

Even sports looks has a chance to make money, but it doesn't simple as that.

[DaNNy001]

I have always advised people not to take gambling seriously but I myself became heavily addicted to live blackjack from stake.com and kept winning and losing. In this case I will not blame the gambling site because they give live cards. I started the game with just $20 but gradually I got addicted to it and wanted to gamble and win bigger amounts by depositing bigger amounts. I lost $1700 playing this way then I decided to play with a much bigger amount and recover all the losses then quit gambling for this I borrowed 270000 BDT ($2180) from the bank and deposited there. But unfortunately I lost them. Now I am financially so weak that it has become very difficult to meet my family expenses and I owe the bank $2180 which will take me a long time to pay off. Now it will take about 2 years for my financial situation to be normal again. Gambling addiction set back my normal life by 2 years. I am a victim of real experience and I am sharing my real experience with you.  Don't make the same mistake I did.  And never decide to gamble with a loan. If you do, your situation may be similar to mine. so beware of gambling

There has been many cases we've heard about gambling addiction and its consequences, that's why I always advice people to try their best to stay away from it if you feel you can't control yourself, but that's not as easy as I say it. I've also heard my own share of gambling addiction, although mine wasn't this bad, I lost a lot of money, my account completely turned 0 and I started my life from scratch, but my joy was that I didn't owe no one, I didn't borrow any money to gamble so I was debt free, but I lost all my money. That was more than enough lesson to teach me that irresponsible gambling would only bring me to my doom. So that was the day I killed the addiction. It was that easy for me and I thank God for that.

You definitely learnt your lesson the hard way but truth be told many gamblers would still continue even after such feat has been experienced, I mean it's as if these gamblers are just fucking crazy and actually don't know when they will stop because the whole addiction clouds their judgement. I know of a very rich friend, well obviously he got his riches when he luckily won some huge stack of cash but now his story has change in my local area some people now say that the money he won actually brought about the gambling cause in his life because from that moment he started gambling like a freak with no control and he always had this perception about the money he won in gamble , that it was free money and should be spent without reason which is fucking crazy if you ask me.

[0t3p0t]

This actually happened to some gamblers in my place too, they used loan money for gambling purposes and ends up badly. What happened to you OP and others who failed using the loan money on gambling will take this as a reminder and lesson to never use a loan money on something that has no guarantee of ROI.

[Gozie51]

This actually happened to some gamblers in my place too, they used loan money for gambling purposes and ends up badly. What happened to you OP and others who failed using the loan money on gambling will take this as a reminder and lesson to never use a loan money on something that has no guarantee of ROI.

Op will unfortunately suffer some set back for his action just like he remorsefully admitted.

Sometimes it can be tempting to empty your account because you feel that the outcome of a bet would favour you or when some friends call you up to go stake some game giving you hope it is a game you don't have to refuse to bet. So it is understandable when that urge loom but we don't have to act on it with all we have or go borrowing. We should always see gambling as a lucky game that can come to our favour or go against us, so we should be pragmatic with betting and not bet what we are going to regret.

[rhomelmabini]

I have always advised people not to take gambling seriously but I myself became heavily addicted to live blackjack from stake.com and kept winning and losing. In this case I will not blame the gambling site because they give live cards. I started the game with just $20 but gradually I got addicted to it and wanted to gamble and win bigger amounts by depositing bigger amounts. I lost $1700 playing this way then I decided to play with a much bigger amount and recover all the losses then quit gambling for this I borrowed 270000 BDT ($2180) from the bank and deposited there. But unfortunately I lost them. Now I am financially so weak that it has become very difficult to meet my family expenses and I owe the bank $2180 which will take me a long time to pay off. Now it will take about 2 years for my financial situation to be normal again. Gambling addiction set back my normal life by 2 years. I am a victim of real experience and I am sharing my real experience with you.  Don't make the same mistake I did.  And never decide to gamble with a loan. If you do, your situation may be similar to mine. so beware of gambling

At least you admit it that you've got the wrong action and I think that's more than enough to learn your lesson. Hope this is an eye opener to everyone out there that has a likelihood to be in the same situation as the OP. The only winner here was the casino and the bank but that's the risk of taking risks, you'll end up either to retire early or worst pays the price of losing.

[Solosanz]

At least you admit it that you've got the wrong action and I think that's more than enough to learn your lesson. Hope this is an eye opener to everyone out there that has a likelihood to be in the same situation as the OP. The only winner here was the casino and the bank but that's the risk of taking risks, you'll end up either to retire early or worst pays the price of losing.

If he was able to beat the casino using loan, we will see a completely opposite thread than this one because he's successful and he think taking a loan to gamble works.

I wonder if $2K is a big money for the @OP, but of course this will be a good lesson for him to learn never gamble using loan money. If investing using loan is already a bad decision, gambling using loan is actually a worst decision.

[maydna]

This actually happened to some gamblers in my place too, they used loan money for gambling purposes and ends up badly. What happened to you OP and others who failed using the loan money on gambling will take this as a reminder and lesson to never use a loan money on something that has no guarantee of ROI.

You have to really stay away from that and don't borrow money from other people. We don't know whether we can win or lose, so if we lose, it will only cause problems for us. We will not be able to return the money because it has been used for gambling, while there may be a time limit that we must meet so that we can return the borrowed money. If the person who lent us the money doesn't want to accept our loss, it means we are really in trouble and have to let it go if they want our valuables taken. We also can't do anything about it because we have borrowed the money and have to return it to the owner. This really is a valuable lesson for anyone, never borrow money to gamble.

[rhomelmabini]

At least you admit it that you've got the wrong action and I think that's more than enough to learn your lesson. Hope this is an eye opener to everyone out there that has a likelihood to be in the same situation as the OP. The only winner here was the casino and the bank but that's the risk of taking risks, you'll end up either to retire early or worst pays the price of losing.

If he was able to beat the casino using loan, we will see a completely opposite thread than this one because he's successful and he think taking a loan to gamble works.

I wonder if $2K is a big money for the @OP, but of course this will be a good lesson for him to learn never gamble using loan money. If investing using loan is already a bad decision, gambling using loan is actually a worst decision.

Actually it would work the other way around if the loan was in million dollars and the casino was just small time one lol. In some third world countries that's really a huge deal and probably OP is from a developing country afaik. I don't think investing using loan was a bad decision actually that's what most rich do to their loaned money, gambling was way worse.

[Youngkhngdiddy]

You have to really stay away from that and don't borrow money from other people. We don't know whether we can win or lose, so if we lose, it will only cause problems for us. We will not be able to return the money because it has been used for gambling, while there may be a time limit that we must meet so that we can return the borrowed money. If the person who lent us the money doesn't want to accept our loss, it means we are really in trouble and have to let it go if they want our valuables taken. We also can't do anything about it because we have borrowed the money and have to return it to the owner. This really is a valuable lesson for anyone, never borrow money to gamble.

    Gambling is not like owning a business, banks arent going to loan you money to gamble. Gamblers are a risky investment. Gambling over the long run seldom results in a profit anyway. Ive tried my share of gambling off and on for the last few years and my losses are greater than my wins overall. I wouldnt rely on it for stable income. Ive quit and restarted several times in the last year or so. It’s the same outcome every time. Every time I start again I end up losing more than I win. Ive never lost enough money to affect my lifestyle but by the same token, Ive never won enough to change it for the better either.
    I think gambling is a matter of risking money and therefore it's not a guarantee that one is going to win so it's not worthy to take loans for gambling.  Anyone who gambles on any type of regular basis should come to the realization that they potentially some day might develop a compulsive gambling habit. The time to take action is prior to hitting bottom. Just don’t allow that to possibly happen. While your finances are still intact, make parameters for your gambling activity and follow those parameters like you obey street laws while driving.

[lionheart78]

This actually happened to some gamblers in my place too, they used loan money for gambling purposes and ends up badly. What happened to you OP and others who failed using the loan money on gambling will take this as a reminder and lesson to never use a loan money on something that has no guarantee of ROI.

You have to really stay away from that and don't borrow money from other people.

I highly agree, even in businesses and investment, it is much better if we use our own money in putting business or investment because it saves us from the pressure of paying back plus the interest.

We don't know whether we can win or lose, so if we lose, it will only cause problems for us. We will not be able to return the money because it has been used for gambling, while there may be a time limit that we must meet so that we can return the borrowed money. If the person who lent us the money doesn't want to accept our loss, it means we are really in trouble and have to let it go if they want our valuables taken. We also can't do anything about it because we have borrowed the money and have to return it to the owner. This really is a valuable lesson for anyone, never borrow money to gamble.

True, the worst is that our future salary is already tied to the payment of that loan used in gambling and many know that it is very tiring when you are working and unable to enjoy the fruit of our labor due to unpaid commitments due to debt.  It is more stressful and may negatively affect ou health in the long run. 

It is not only the money but also the health that is affected if we loan an amount to gamble and happened to lose them all.

[AmoreJaz]

This actually happened to some gamblers in my place too, they used loan money for gambling purposes and ends up badly. What happened to you OP and others who failed using the loan money on gambling will take this as a reminder and lesson to never use a loan money on something that has no guarantee of ROI.

You have to really stay away from that and don't borrow money from other people. We don't know whether we can win or lose, so if we lose, it will only cause problems for us. We will not be able to return the money because it has been used for gambling, while there may be a time limit that we must meet so that we can return the borrowed money. If the person who lent us the money doesn't want to accept our loss, it means we are really in trouble and have to let it go if they want our valuables taken. We also can't do anything about it because we have borrowed the money and have to return it to the owner. This really is a valuable lesson for anyone, never borrow money to gamble.

what the OP can do is find additional jobs aside from his actual job, to slowly pay for his bank debt. if he will think that more gambling will save him, i highly believe he will put his financial situation to rather nasty.

[Dewi Aries]

At least you admit it that you've got the wrong action and I think that's more than enough to learn your lesson. Hope this is an eye opener to everyone out there that has a likelihood to be in the same situation as the OP. The only winner here was the casino and the bank but that's the risk of taking risks, you'll end up either to retire early or worst pays the price of losing.

If he was able to beat the casino using loan, we will see a completely opposite thread than this one because he's successful and he think taking a loan to gamble works.

I wonder if $2K is a big money for the @OP, but of course this will be a good lesson for him to learn never gamble using loan money. If investing using loan is already a bad decision, gambling using loan is actually a worst decision.

In my opinion, what he did was wrong, especially if by borrowing money to gamble it was not wrong anymore but stupid, if they still hope in gambling it doesn't matter, but if they take the action of borrowing money to do gambling, in my opinion they don't have a brain, maybe they still have a brain but it's not working properly hahaha.

After all, the personal money that has clearly been used up for gambling in my opinion is enough to realize that gambling is not a place to make money, but their brains that are not working properly will not think about that, they will continue to do everything possible to be able to gamble, even if it is borrowing from other people or banks.

[irhact]

The op did the right thing by bring this topic although most people will criticize him but it's a lesson for those who wants to take a loan to bet thinking they will make profit, firstly don't take what's not yours to bet it sounds risky. But most people with that mindset will not listen and learn from the op mistake rather they will go ahead to take loan to gamble.

Gambling is a very risky business also so is taking a loan, you didn't know if you'll win or lose when you're gambling but the house win most time therefore using loan to gamble is a very wrong move. When you lose you'll be owing the lender and you don't have where to get the money to repay so you're in debt which will make you to try again and this might continue until you're in a very big debt. If this continue then you get depression and might take your life.

There are many report of gamblers commiting suicide and they have something to do with losing people money that they would have gotten from loans or gathering others money in hopes of using them to gamble believing they can double the money and get profits. Gambling should be done by using spare money so if you lose you won't lose a large amount of money and you won't start panicking.

[bluebit25]

We come across a lot of cases like OP, but it seems like there are still a lot of people in this situation, and they will have to face the consequences. Gambling with capital that people are not willing to lose will always have sad consequences. Capital management is always important in this field. Things that attract us in terms of money-making opportunities easily make us forget the risks and accept that once we start, unchecked greed will only bring failure.

I have also seen family members borrow money to gamble, and when they default, the family's common assets will be assigned to the debt. So I feel lucky to be able to see the negative side of this field, and I also hope that people will understand their responsibility for those decisions.

[piebeyb]

I have also seen family members borrow money to gamble, and when they default, the family's common assets will be assigned to the debt. So I feel lucky to be able to see the negative side of this field, and I also hope that people will understand their responsibility for those decisions.

Yes, whatever you see around you, something bad, never follow it because of course only stupid people are willing to take big risks just for a moment's pleasure. The point is, never blame other people who have acted like that because of course they are unconsciously making big mistakes. as shown by the OP, he admitted his mistake, that's why he shared his story to be an example for others.

The other person in question is a beginner because beginners are usually careless and get carried away by uncontrollable emotional currents when gambling so that in order to satisfy the desire to take revenge for defeats and also want to recover losses, they are finally determined to take out loans from banks or loan sharks in order to return everything. loss but in fact it doesn't work, that method is very dangerous and wrong to do, a good suggestion is to gamble wisely using unused money is the right way.