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

[Z_MBFM]

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

[Oshosondy]

Gambling with loan should be avoided. But not only that, also gambling with the amount of money that you can not afford to lose should be avoided. The reason I said this is because despite it is not advisable for gamblers to gamble with the amount they can not afford to lose, if they do, they are more likely to lose the money in their bank or wallet address and what they will look to is to get a loan if possible, so that they can continue to gamble. What will also still happen is that they will lose.

[kotajikikox]

Never that we are even advise to invest Borrowed money so what more for gambling funds?

we have seen lots of post from the past same as yours that someone tries to make money from borrowed money but they end up being a loser and now down deep from credit .

It is sad that you need to learn the hard way but at least this will be the lesson you will never forget and will shape your life into different areas.

also if you will stop gambling from this moment and will find a fit Job , for sure you will pay that debt for shorter time just focus mate.

[leonair]

This is too sad news op. why you did it? Gambling with loan money is double risky then gamble with your own money. if you loss your own money then You may suffer but there will be no pressure to repay the loan. if you gamble with the loan and lose it then you lose money and on the other hand you have to repay the loan by earning money from another source. you have taken a big risk, if you win the gambling then your loss might be recovered but because of the loss you have to repay the loan which is a lot of trouble. And not only the principal amount but also the interest has to be paid. After that gamble according to your ability sometime.  Stay away from activities like gambling with loan

[Fivestar4everMVP]

Even as serious as this seems, it's still very funny to me to be honest, and if I could meet the op face to face, some of the questions I possibly would have asked is, isn't he an active poster on this forum and in this gambling board, there are several threads that discussed of the dangers of gambling with borrowed funds, as doing this have never ended well for the most of those who ever did.

And this is even more disappointing because $2180 is not a small amount of money, this money Is enough to feed some families for one whole year, should I call this act of op borrowing such an amount of money and using it to gamble Stupid?, well, yeah, it's definitely a very stupid thing op did and I completely feel no remorse for his loss, this is if this whole story is true by the way.

[_act_]

Even as serious as this seems, it's still very funny to me to be honest, and if I could meet the op face to face, some of the questions I possibly would have asked is, isn't he an active poster on this forum and in this gambling board, there are several threads that discussed of the dangers of gambling with borrowed funds, as doing this have never ended well for the most of those who ever did.

Among us will be addicted gamblers. Some will know the truth but they can not just control it until one day that something not good happened to them financially. I am only thinking that OP may be addicted or getting towards addiction. But it is good that he realized this very early and he should only gamble with the amount of money that he can afford to lose and not with borrowed money. He stated that he knew that it is against one of the gambling rules but he still just fall victim of it.

[Zlantann]

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.

It is sad to hear that you are now in debt because of a gambling disorder. I also give you kudos for coming out to discuss your struggles because many gambling addicts hide their disorder and it will gradually consume them because they refuse to seek help. Your main focus now should be to control your gambling activities to enable you to pay your debt. This is because if you don't control how you play bets, you might not be able to save enough to pay your debt. If quitting gambling for some time will help you save enough to pay your debt, you can consider it.

You should also consider getting a side job that will help you make extra cash to pay up your debt faster. Gambling has destabilised your finances for two years but this is not the end of the world. With proper planning, self-control and diligence, you will be able to recover all you have lost and enjoy a good life with your family. This a lesson to all of us not to use money earmarked for family expenses to gamble. And taking a loan to gamble is going to the extreme because it could have a bad financial effect.      

so beware of gambling

 
Beware of irresponsible gambling.

[Z_MBFM]

This is too sad news op. why you did it? Gambling with loan money is double risky then gamble with your own money. if you loss your own money then You may suffer but there will be no pressure to repay the loan. if you gamble with the loan and lose it then you lose money and on the other hand you have to repay the loan by earning money from another source. you have taken a big risk, if you win the gambling then your loss might be recovered but because of the loss you have to repay the loan which is a lot of trouble. And not only the principal amount but also the interest has to be paid. After that gamble according to your ability sometime.  Stay away from activities like gambling with loan

I have been a gambler for a long time and I have always been able to control myself but this time I developed a confidence in myself that I could play blackjack very well and win and because of this I suffered greatly from placing large amount of single bets. Through this I have gained a great teacher.  And now I have decided to quit blackjack for life

Even as serious as this seems, it's still very funny to me to be honest, and if I could meet the op face to face, some of the questions I possibly would have asked is, isn't he an active poster on this forum and in this gambling board, there are several threads that discussed of the dangers of gambling with borrowed funds, as doing this have never ended well for the most of those who ever did.

Among us will be addicted gamblers. Some will know the truth but they can not just control it until one day that something not good happened to them financially. I am only thinking that OP may be addicted or getting towards addiction. But it is good that he realized this very early and he should only gamble with the amount of money that he can afford to lose and not with borrowed money. He stated that he knew that it is against one of the gambling rules but he still just fall victim of it.

Gambling addiction is very strong but I can control myself but this time gambling changed me from my normal behavior and force me to gamble panicky with loan money. I am very disappointed about this.

[Cantsay]

This just goes to show that some of us here in this forum don’t actuall Practice what we teach or the advice we give to others we don’t follow them.

also if you will stop gambling from this moment and will find a fit Job , for sure you will pay that debt for shorter time just focus mate.

I highly doubt that the Op would be able to do that, since he confirmed that he’s struggling with gambling addiction, so it would be hard for him to just go on without gambling. He’ll most likely feel the urge to just log into his account and deposit a few dollars to gamble with.

[Fivestar4everMVP]

Even as serious as this seems, it's still very funny to me to be honest, and if I could meet the op face to face, some of the questions I possibly would have asked is, isn't he an active poster on this forum and in this gambling board, there are several threads that discussed of the dangers of gambling with borrowed funds, as doing this have never ended well for the most of those who ever did.

Among us will be addicted gamblers. Some will know the truth but they can not just control it until one day that something not good happened to them financially. I am only thinking that OP may be addicted or getting towards addiction. But it is good that he realized this very early and he should only gamble with the amount of money that he can afford to lose and not with borrowed money. He stated that he knew that it is against one of the gambling rules but he still just fall victim of it.

I don't think op discovered anything early as you stated, we consider one to have discovered a potential issue early only of he or she finds out about the potential disaster of doing something, and then avoid doing that thing completely. But here, op knew or had some clue of the potential danger but still went ahead to engage in that same thing which he himself must have one or two, or even more times advised other gamblers not to engage themselves in.

This can be linked to the story i shared on the bitcoin discussion board some weeks ago, about a guy who bought bitcoin in 2011 and even till recently was holding the bitcoins on his mobile wallet, and also saved the keys to the wallet online on one of this password manager sites, he has advised hundreds of thousands of people to buy a hardware wallet and store their cryptocurrencies there, but he himself doesn't have one, even while holding bitcoins that are worth almost a million dollars, unfortunately for him recently, he got hacked and all his bitcoins since 2011 was moved to another wallet he had no access to, or have a clue who owns it .

This is what happens to people who teach others what themselves do not practice.

[masulum]

Some people I know who are stuck in the same thing as the OP are, when he panics about having to pay bills that are due soon, he looks for loans to gamble in the hope of winning. When he doesn't get the expected win, his debt increases, while his other bills are due to be paid. In the end he experienced financial difficulties with very bad conditions.

[knowngunman]

Even as serious as this seems, it's still very funny to me to be honest, and if I could meet the op face to face, some of the questions I possibly would have asked is, isn't he an active poster on this forum and in this gambling board, there are several threads that discussed of the dangers of gambling with borrowed funds, as doing this have never ended well for the most of those who ever did.

Like are you actually surprised? I'm neither surprised nor shocked at all because is not everyone here that practice what they preach. Besides, you can be a victim and still be advising others so as not to fall victim and it's normal. The OP went to far from spending huge amount of money on gambling to the extent of taking loan and spend it on gambling. It's understandable if you are addicted gambler but you are using your own money to gamble and not with the loan taken from bank. The good thing here is that he's realized the mess he got himself into and probably learn the hard way. It however baffles me that people don't usually raise alarm when things are still in process in order to seek for help until it gets out of hand before they speak out when it's mostly not fixable.

[komisariatku]

And never decide to gamble with a loan. If you do, your situation may be similar to mine. so beware of gambling

I never borrow large amounts of money to gamble, usually I borrow for family needs. However, I had loans that I should have paid off, but I used some of the money to gamble. It was a careless act on my part and of course it looked bad for me.

But from your story, it seems like you deliberately borrowed money to gamble, and $2000 is a large amount. Were you so confident at first that you would win that you decided to borrow from the bank and use it to gamble? How long would it take you to spend $2000 on gambling?

[angrybirdy]

And never decide to gamble with a loan. If you do, your situation may be similar to mine. so beware of gambling

I never borrow large amounts of money to gamble, usually I borrow for family needs. However, I had loans that I should have paid off, but I used some of the money to gamble. It was a careless act on my part and of course it looked bad for me.

But from your story, it seems like you deliberately borrowed money to gamble, and $2000 is a large amount. Were you so confident at first that you would win that you decided to borrow from the bank and use it to gamble? How long would it take you to spend $2000 on gambling?

Same here! I'm not fan of borrowing money if it's for non important things like gambling. I also have loans but I used it for purchasing important things that helps me in my daily life. I'm a firm believer that once you use a loan money in gambling, it will bring you misfortune. Loaning money for gamble is not advisable because we are not sure if you win or lose the money, If you're going to lose money, think about where you're going to get the money to pay off your debt.

[Text]

There was a time when I got addicted to playing blackjack because I was chasing my losses. I thought then that I had a higher chance of winning in this gambling game because its odds were lower compared to other provably fair games. However, luck really determines whether you win or not. And of course, responsible decision-making also plays a significant role in deciding whether to continue or stop.

But one thing I really want to avoid is getting into debt, especially if it's just for gambling. However, if it's for business, that might be acceptable. I don't want to imagine getting buried in debt.

[panjul07]

I am a victim of real experience and I am sharing my real experience with you.  

You are a victim of your own mistake, this should be the right statement instead of "real experience" because you wont be a victim if you can control yourself and avoid such a mistake.

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

Of course I wont, although I do gamble with loan money some times but I am still able to control myself and knowing my own limit.
Knowing the limit how much to get a loan based on my own income and how much should I spend on gambling.
Based on your experience, I'd say that you make 2 mistakes here.
First is that you take a loan but you did not calculate it wisely and 2nd mistake is that you use all the loan for gambling.
Actually the main problem here is not about "gamble with loan money" but it is more about "addiction" which make you lose your own control.
Sorry to hear it, it is an expensive lesson for you and hopefully you can overcome it without making other mistakes.

[SquirrelJulietGarden]

Of course I wont, although I do gamble with loan money some times but I am still able to control myself and knowing my own limit.
Knowing the limit how much to get a loan based on my own income and how much should I spend on gambling.

Many reminders like "Don't trade, don't gamble if you can not afford to lose your money". It is about your own money and if it is a loan money, it's worse. Generally it is terrible to do trading or gambling with people who can not control themselves in emotion and psychology. If they feel themselves are uncontrollable in emotion and psychology, don't trade and don't gamble is the best.

You do it but you are safe because you are good at control yourself and you can have expertise in gambling too. For other people, it is very risky and they should not do this.

Based on your experience, I'd say that you make 2 mistakes here.
First is that you take a loan but you did not calculate it wisely and 2nd mistake is that you use all the loan for gambling.
Actually the main problem here is not about "gamble with loan money" but it is more about "addiction" which make you lose your own control.

Losing control can cause a small loss to bigger losses like losing own money to borrow more money and repeat same mistakes to revenge and cover the initial loss. The ending is like losing more and even losing a chance to correct mistake.

[benalexis12]

That is the biggest mistake a gambler will make: that the money to gamble with comes from debt. Most of the gamblers who did that did not become successful, maybe even more in debt because the loan was probably used up immediately after losing.

Maybe there are still people doing that, and maybe not all of the loans were used for gambling, but overall, this style remains a bad habit. This shouldn't be a good habit for the gamblers here.

[DabsPoorVersion]

What happened to you is really unfortunate. I hope you get back on your feet again. Don't lose hope and think of a brighter future, don't let this thing happen again to you after you overcome this one.

It is really sad to see even with so many reminders here in this forum, where you also probably read before, a reminder saying not to gamble with loan money. There are multiple threads created with that topic which everyone should really apply to our life to avoid this kind of situation.

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.

We know you can overcome this challenge, just think positively and don't ever lose hope. This is an experience that taught you to be better. You will surely realize so many things because of what happened. Use it to be better in the future.

[aioc]

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

I'm sorry about your losses you have to double your effort or find other means of income to pay that huge loan, this is what's going to happen if you break one of the golden rules of gambling, in case you break two rules and these are taking loans and trying to recover your losses through loans, these are two deadly combinations that you will regret.
We only feel sorry after we make grave mistakes, this is a hard lesson for gamblers who easily fall into temptation or a mindset that they can really make money from gambling, we have a lot of topics and discussions about not taking a loan in gambling even if you are good even if you have an inside tips on sports that you're going to bet, its way too risky and you're going to regret it.