Outcomes of insighting gambling for a source of income.

[shivansps]

So I caught my friend up having gambling as a source of making incomes.
Few days ago, I went to my friends place and met him with a strange face to me, so sudden their language changed in a way I wouldn't understand. The both were talking about hustles which the other guy ask my friend that Are you not running the other hustle anymore"? So my friend replied"I do but I have lost a lot this time just after I made my last cashout" which he analysed different values and occasions he had won. The other guy told him not to stop trying that it is sometimes like that and so is the nature of the business.
I knew they were up to gambling discussion but they never wanted me to know about it.
I never see gambling as a bad activity unless you gives yourself up to it in controlling your emotions. So I think these two guys knew they were at the wrong side of it that is why they never wanted me to know they were into gambling.
Just in, he is on medical attention after he slumped as a result of loosing a borrowed fund meant for a business re-startup after the gamble made him squandered his previous business.
At his regained to a normal state of health, he explained that he thought he would be lucky to win at the stake so as he could expand his intended business with a bigger capital.
At a point I don't see any business oriented ideal in this Friend because $1,000 ls good enough for a start of lucrative businesses.

The point is probably not even about 1000 dollars, but about the fact that if a person is prone to gambling, then no matter how much money he has, there is a chance that he will lose it through bets or casinos or something like that. The issue here is not gambling or business, but a lack of basic knowledge, namely that you should not under any circumstances use money intended for business or for family or for anything important for gambling.
If this understanding is not there, then there is a possibility of problems arising both for the person himself and for the people who are nearby.

[Wexnident]

~

Erm there's actually more to it than just playing while losing your emotions to greed, it's also thinking of it as a method to quickly make your money bigger, just like in your case OP (or your friends). In fact, I'd much take your sample case as much worse compared to impulsive gambling since their mind is relatively free from influence of dopamine (the emotion thingy). The moment someone thinks of using gambling as a method to multiply their money is the moment you lose it all. There are rare cases, but those are on the extremely rare side like the FedEx president.

In fact, having that mindset and yet wanting to start a business only makes me see that said business would've flunked immediately since they'd start looking for loopholes to immediately make money lol.

[Natsuu]

Your friend's into some heavy gambling and it's taking a toll on him not just financially but also health-wise. It's important to remind him to set limits and know when to stop. Maybe suggest seeking support or finding healthier ways to cope with financial goals. Losing borrowed funds for a business restart is rough and a bit of advice could go a long way

[Hirose UK]

~snip~

You can have an online site hustle if you have 1000 dollars and of course I am not going to tell you which one as there are plenty of them,you just have to be careful to do your own research to not fall into scam as also scams online are in huge quantity.If they were talking as gambling with 1000 dollars and considering it as business that is the worse of all the ideas as that money can go as soon as just three days.

Therefore they should stop right away as if they continue their medical health condition will get worse and worse as that is the only way if you keep gambling and considering it as a business no matter what "strategy" you apply to it.

In gambling it is business and it is clear that only those who own gambling sites and who invest there can make profit, but this all requires lot of money and of course it can reach tens of thousands or even hundreds of thousands of dollars to get started.
If are just gambler then it is not business because business is an activity that can develop and generate certain amount of profit while gambling is an activity that can spend money.
Moreover, with $1000 won't be able to have any business in gambling and if this is used for gambling capital then what you say is true is that it can run out very quickly with nothing left.
Everyone must be able to really take wise decisions with the money they have, if mistake occurs then the main thing that must be faced is to be willing to lose all the money.

I don't think there are people who consider gambling as business, I also believe they have too high hopes to see what is good and bad.
Not everything in gambling can be considered bad, but if the attitude and approach is wrong first then it is clear that it will only be bad result, they must immediately realize it before everything they have is lost.

[coin-investor]

Just in, he is on medical attention after he slumped as a result of loosing a borrowed fund meant for a business re-startup after the gamble made him squandered his previous business.
At his regained to a normal state of health, he explained that he thought he would be lucky to win at the stake so as he could expand his intended business with a bigger capital.
At a point I don't see any business oriented ideal in this Friend because $1,000 ls good enough for a start of lucrative businesses.

This is two heartbreaks in a row when you loan money and plan to use it in gambling to expand your business and you happen to lose it and because of the loss you suffer from a deep depression that results in hospitalization, all of these happens because of your greediness, your greediness thinking that you can expand your business if you can double your money and you can pay the loan if you can win.

People should be satisfied with what they have and they have to contend with what they have and work their way up and not rely on gambling for a quick profit, the money that should be for business is for expansion if your friend just proceeds in using the money for their expansion they could have triple the amount and pay off the loan and further expand their business.

Now he is on a loan, and he cannot expand his business for lack of funds, the hard lesson here is never never take a loan to gamble, you are pressured to win and because you are pressured to win you can make careless decisions that will result in losing all your money.

[348Judah]

At his regained to a normal state of health, he explained that he thought he would be lucky to win at the stake so as he could expand his intended business with a bigger capital.
At a point I don't see any business oriented ideal in this Friend because $1,000 ls good enough for a start of lucrative businesses.

Maybe he just got taught of the lesson of his life not to rely on gambling for his lifetime achievement, one thing that is so common we often experience in gambling is that you don't see it coming even though you expected it, it doesn't come the way we planned in most cases, gambling also is not a means  of making money neither is it an investment, we are sometimes looking for an opportunity where there's none.

[slapper]

~snip~

You can have an online site hustle if you have 1000 dollars and of course I am not going to tell you which one as there are plenty of them,you just have to be careful to do your own research to not fall into scam as also scams online are in huge quantity.If they were talking as gambling with 1000 dollars and considering it as business that is the worse of all the ideas as that money can go as soon as just three days.

Therefore they should stop right away as if they continue their medical health condition will get worse and worse as that is the only way if you keep gambling and considering it as a business no matter what "strategy" you apply to it.

In gambling it is business and it is clear that only those who own gambling sites and who invest there can make profit, but this all requires lot of money and of course it can reach tens of thousands or even hundreds of thousands of dollars to get started.
If are just gambler then it is not business because business is an activity that can develop and generate certain amount of profit while gambling is an activity that can spend money.
Moreover, with $1000 won't be able to have any business in gambling and if this is used for gambling capital then what you say is true is that it can run out very quickly with nothing left.
Everyone must be able to really take wise decisions with the money they have, if mistake occurs then the main thing that must be faced is to be willing to lose all the money.

I don't think there are people who consider gambling as business, I also believe they have too high hopes to see what is good and bad.
Not everything in gambling can be considered bad, but if the attitude and approach is wrong first then it is clear that it will only be bad result, they must immediately realize it before everything they have is lost.

Gambling is a house profit machine, not a player's enterprise. They have algorithms, capital, and an advantage. Joe average betting a grand? Donating to the casino's bottom line, not investing. We disagree because some gambling decisions are strategic or insightful. Not to glorify gambling, but to recognize that knowledge and discipline are important even in the most rigged games. You won't break the bank with $1,000, but the point is to understand odds, walk away, and respect money. The line between wasting money and taking sensible risks is there. Wise choices? Absolutely. Let's not ignore strategy just because the house has the advantage

[teamsherry]

Living off gambling is a very risky practice and your friend has learnt that lesson, just imagine how much he must have lost to realise that it's such a  bad idea to do that.

The truth is its a choice and he made that choice and he would also carry his loses on his head.

If he had invested that money using DCA, he would not have ended up in such a state and maybe by now he must have gotten some profit from this bull run, just imagine he invested only 200$ when bitcoin was still at 36k he would made almost double the money right now.

That money is also enough for him to start a mini bus tag would be giving him a cumulative of 100$ every month if he uses it very well.

[qwertyup23]

I never see gambling as a bad activity unless you gives yourself up to it in controlling your emotions. So I think these two guys knew they were at the wrong side of it that is why they never wanted me to know they were into gambling.

That is actually very kind of your friends to not let you in this activity. Given that it is potentially addicting and dangerous, they probably understand that it is better if they keep it to themselves than to influence others which has the potential to spiral out of control.

Just in, he is on medical attention after he slumped as a result of loosing a borrowed fund meant for a business re-startup after the gamble made him squandered his previous business.
At his regained to a normal state of health, he explained that he thought he would be lucky to win at the stake so as he could expand his intended business with a bigger capital.
At a point I don't see any business oriented ideal in this Friend because $1,000 ls good enough for a start of lucrative businesses.

I think that is just some rationalizing done by your friend to justify his actions in gambling.

I agree, $1,000 is not enough to start a business. He is probably that desperate to borrow money in order to fund his gambling addiction but you can clearly observe that he cannot control his urges. Unfortunately, your friend is in a very tight position where he got stuck in the cycle of gambling.

[Renampun]

...
Just in, he is on medical attention after he slumped as a result of loosing a borrowed fund meant for a business re-startup after the gamble made him squandered his previous business.
At his regained to a normal state of health, he explained that he thought he would be lucky to win at the stake so as he could expand his intended business with a bigger capital.
At a point I don't see any business oriented ideal in this Friend because $1,000 ls good enough for a start of lucrative businesses.

This is wrong thinking. Maybe there are several stories where a successful gambler doubled his money in gambling and was finally able to start his business again well and smoothly, but things like that are very rare, it would be better if someone just opened a business with enough money. he really had it from the start even though it was just a loan, because starting a business with money earned from gambling is very risky.
btw, I have to admit, your friend has a very brave mentality. People like him are often the ones who become successful people, he dares to take risks and that is one of the conditions for being a successful person in life, in contrast to those who always play it safe, they it will be difficult to be successful.

[Ever-young]

I knew they were up to gambling discussion but they never wanted me to know about it.
I never see gambling as a bad activity unless you gives yourself up to it in controlling your emotions. So I think these two guys knew they were at the wrong side of it that is why they never wanted me to know they were into gambling.

maybe that's why they don't want to tell you because they know that things are going a bit sideways in their business and it's only right that they don't tell you about their sources of income. even if you are one of the closest friends because it's a matter of confidentiality. Like what you've said, You never see anything wrong about doing a gambling business as long as you know how to control your money, decisions and emotions, that's all true and it will only become wrong if you cannot handle well your financial expenses and you've already developing gambling addiction.

You make an important point. people might not be willing to disclose their sources of income to others for some reasons, either they're not proud of their sources of income or they're afraid of being judged or criticized by others. I also believe there's an element of personal privacy in display here. Just because you're closed friends with someone doesn't guarantee that you have access or you're entitled to all his personal life, especially the financial aspect of his life.

[Peanutswar]

So I caught my friend up having gambling as a source of making incomes.
Few days ago, I went to my friends place and met him with a strange face to me, so sudden their language changed in a way I wouldn't understand. The both were talking about hustles which the other guy ask my friend that Are you not running the other hustle anymore"? So my friend replied"I do but I have lost a lot this time just after I made my last cashout" which he analysed different values and occasions he had won. The other guy told him not to stop trying that it is sometimes like that and so is the nature of the business.
I knew they were up to gambling discussion but they never wanted me to know about it.
I never see gambling as a bad activity unless you gives yourself up to it in controlling your emotions. So I think these two guys knew they were at the wrong side of it that is why they never wanted me to know they were into gambling.

Gambling is not always the key to making an earning, that's why it is called gambling, you make a gamble with your money, and there's not as always an assurance that you will win the game, its a 50/50 chance of winning it depends on the game you are playing with, like your friend experienced he play gambling as a source of income, at the end of the day the luck is not with him, at least your friend doesn't lose control and seek more money to gamble and take a loan, most of the desperate gambler doing this kind of act and at the end, they lose their money instead getting back their losses. Hoping they will recover with this charge to experience mistake.

[joeperry]

Your friend has some serious gambling problem I can say. Personally I wouldn't recommend gambling to be your main source of income, never. We know that the gambling site will always gonna win, you will lose more than you will win and risking the fund that supposed to be in business in gambling is a big mistake.

That is true gambling is not that bad unless it would affect you badly such as making a terrible decision (just like your friend). It's supposed to be for fun and entertainment only, though we can't really help it as it's one of the fastest way to double up your money but also fastest way to ruin you financially.

[TheUltraElite]

So your friends are being secretive about their gambling "hustles" and dont want you to know?

That and pre-existing mental health problems dont go good together and indeed are a recipe for disaster. As a friend you can only warn them about it. Gambling cannot be a source of income, its a game of chance and if you win big stop, or else you are going to lose it all.

Your friend is making a mistake, they will lose money and then go to another debt and not be able to run a business at all.

[Beparanf]

If he had invested that money using DCA, he would not have ended up in such a state and maybe by now he must have gotten some profit from this bull run, just imagine he invested only 200$ when bitcoin was still at 36k he would made almost double the money right now.

That money is also enough for him to start a mini bus tag would be giving him a cumulative of 100$ every month if he uses it very well.

Sadly, Many still preferred quick profit rather to slowly but surely profit from investing. I think he is looking forward to increase his business capital instantly since he needed it immediately that’s why he try his luck on gambling.

This is really a bad idea and he should just take a business loan to get the additional money that he needed to start already the business. He can slowly pay back the loan with minimal interest using the business profit. This is much better than losing everything including the capital for business.

[goaldigger]

Just in, he is on medical attention after he slumped as a result of loosing a borrowed fund meant for a business re-startup after the gamble made him squandered his previous business.
At his regained to a normal state of health, he explained that he thought he would be lucky to win at the stake so as he could expand his intended business with a bigger capital.
At a point I don't see any business oriented ideal in this Friend because $1,000 ls good enough for a start of lucrative businesses.

That's addiction already and considering gambling as a source of income or business if you are a player is not good.
I don't want to say this but better not to listen to your friend if he asked you to gamble with him, because for sure you'll be corrupted and you might ended up with the same faith. If you have a good business better not to mixed your money from that business and if you really want to gamble, set aside some budget for it and don't over spend, you should gamble responsibly.

[rozak]

At a point I don't see any business oriented ideal in this Friend because $1,000 ls good enough for a start of lucrative businesses.

doesn't care about the amount of capital he has lost. but what is very clear is that your friend is doing something wrong with his gambling.
I'm worried whether your friend knows there's something wrong or not. perhaps they are still ambitious to put in more to catch up with the losses they have experienced.
There will indeed be gamblers who consider gambling as a profession. but I'm not sure they will last long, when they get a streak of losing, they will finish with regrets.

[alastantiger]

In gambling, you learn the easy way or you learn the hard. The easy way is from other people's experiences. The hard way is from your own very bitter experience. Starting a business no matter how small or finding gainful employment no matter how small cannot be replaced nor compared with turning to gambling as a side or main hustle.

Good friends will proffer good advice even when we don't want to hear it. Even though your friend has learned a very hard lesson there is no assurances that he will not be enticed to repeat the same mistake again. He should deal with the cause of his mistake which is the onset of gambling addicition and not the effect which is using money meant to start of business for gambling.

[AVE5]

At his regained to a normal state of health, he explained that he thought he would be lucky to win at the stake so as he could expand his intended business with a bigger capital.
At a point I don't see any business oriented ideal in this Friend because $1,000 ls good enough for a start of lucrative businesses.

I'm really skeptical if 1000$ can really give you a lucrative business in my country but maybe in your country since that amount is only the price of the business location with very rental small place but resorting to gambling using the funds that is intended for important matters is always a big red flag because you are risking the money that you can't afford to lose.

I thought the amount involved here is around 10K or more since it sounds like very serious while reading the introduction of the story including the colluding just to hide gambling. But I will do the same of hiding my gambling activity to others if someone knew enter to my place though even though I'm just playing for fun because it's not cool being known as a gambler in my country. Your friend is still lucky to still involve not that significant amount of money on gambling because he can easily repaid it through jobs.

It is either you are a high staker in the gambling or the $1,000 lost is as little not to be compared to your income rate that is why you are not moved by when this guy couldn't stand the fact that he lost $1,000 in the gamble. Well maybe I should recall to you that as financial levels differs so also we know the little and big amounts of funds we could be found as treasures which centrally depends on our incomes rate.
This is a local gambling in question and we are talking about a fund in a hard currency of $1,000 that is equivalent to #1,690,000 to his traditional currency. I guess you see a million plus is involved here. Haha.
This just to let you know how valuable the lost fund is and how such amount could attain a lucrative level of businesses within his locality considering that it was also a borrowed fund for a business purpose just as you are aware.

[Queentoshi]

So I caught my friend up having gambling as a source of making incomes.
Few days ago, I went to my friends place and met him with a strange face to me, so sudden their language changed in a way I wouldn't understand. The both were talking about hustles which the other guy ask my friend that Are you not running the other hustle anymore"? So my friend replied"I do

When people are doing things that they are not expected to do or should not be doing, there is always the act to trying to do it in secret, so other people will not know. Your friend knows your opinion on gambling and that you will never approve of it as a source of income. 

Just in, he is on medical attention after he slumped as a result of loosing a borrowed fund meant for a business re-startup after the gamble made him squandered his previous business.
At his regained to a normal state of health, he explained that he thought he would be lucky to win at the stake so as he could expand his intended business with a bigger capital.

If he could slump from loosing a bet, it is not impossible for him to die from it. He should check his health and ensure he does not have any underlying health challenge like high blood pressure, that could lead to his death from gambling.

At a point I don't see any business oriented ideal in this Friend because $1,000 ls good enough for a start of lucrative businesses.

You may have calculated it to be enough for you, but to some other people, it is not enough.