Be careful with people's money

[shasan]

There are some of the top gambling sites will play an important role in depending on your money. But these are very old events so all gamblers are now more aware of this. However gambling is a risk for you, so everything you bet here is at risk. A gambler wins a lot of money so will tip random people. But they are absolutely useless to me because gambling is completely based on my luck so no modern techniques will work here. Also a gambler can never guarantee that you will win a bet so you have to take all kinds of risks.

It is right that everything here in gambling is at risk and it is known to everyone. But the amount which will be used on gambling which can't afford if a loss should not be that on gambling whether that fund is the fund of himself/herself or it is taken any other person both should be treated as the same.

[MarvinHagler]

Statements like this remind us that you never leave any money in any exchange except the small amount you can do for trading,if you trade a lot then surely you should take into consideration the risks associated with it when joining a big one.In gambling we all know that people do all sort of shit just to feed their gambling addiction.Spending someone else's money when you have the power to do so is something that is done quite often in the gambling world yet different outcomes it has produced,the most extreme people being killed for not being able to substitute such amount of money and being killed by the person/entity who lost that money and of course in here I am talking for really huge amount of money,kinda like mafia movies.Really bad to see this happening but I guarantee that these cases will be going on as long as humanity will exist.

Agreed. Keep the vast majority of your crypto on a hardware wallet. FTX is a good example.

[TheUltraElite]

It is right that everything here in gambling is at risk and it is known to everyone. But the amount which will be used on gambling which can't afford if a loss should not be that on gambling whether that fund is the fund of himself/herself or it is taken any other person both should be treated as the same.

The simple thing is that one should not gamble with another person's money. Gamblers due to lack of capital and abundant excitement to gamble often take money from other people in the guise of "loans", "investments" and so on just to fund their gambling habit. They will mostly lose the money and and turn up to pay it back.

I would say never take another person's money just to put in a risky state. You have zero idea what that person did to get that money and you need to respect that. Gamble with money that you can afford to lose from your pocket only.

[Fivestar4everMVP]

I have read many news that someone will mismanage people's money. I read one about a university student some years ago that gambled with the money contributed by his course mates. The main reason that is causing the money mismanagement is either trading or gambling, but I read more about gambling online. Some can be because of other reasons.

There is another one that I read today that people thought he ran away with people's money but he later confessed that he lost it to gambling. It is about a solana-based cypher developer, he confesses that he lost $300K of user funds to gambling.

The core developer of the Solana-based cross-margin decentralized exchange (DEX) admitted his wrongdoing in a public statement shared in a May 14 X post:

“To address the elephant in the room, the allegations are true, I took the funds and gambled them away. I didn’t run away with it, nor did anyone else.”

His statement on X:
https://x.com/hoakbuilds/status/1790434490877129007

https://docs.google.com/document/d/10ta9quGGrmTNE1Pi7MlgLgSx9zxEqQdkbBfis1pmHrM/mobilebasic

I was listening to one man of God preach, and he made a statement that really touched me at the time, he said that history will continue to repeat itself, not because new things and way to do things are not coming, but because men have refused to learn from their past, and the past of others.

Gambling is very addictive when done careless, and because men have refused to listen and learn, the gambling industry will continue to witness such sad gambling experiences, stories and so on.
And again, it's really unfortunate that innocent people had to lose their hard earned money simply because one dude failed to control himself with his gambling desires, really unfortunate, and this goes a long way to show how unfair like really is after all..

[Rockstarguy]

It is right that everything here in gambling is at risk and it is known to everyone. But the amount which will be used on gambling which can't afford if a loss should not be that on gambling whether that fund is the fund of himself/herself or it is taken any other person both should be treated as the same.

The simple thing is that one should not gamble with another person's money. Gamblers due to lack of capital and abundant excitement to gamble often take money from other people in the guise of "loans", "investments" and so on just to fund their gambling habit. They will mostly lose the money and and turn up to pay it back.

I would say never take another person's money just to put in a risky state. You have zero idea what that person did to get that money and you need to respect that. Gamble with money that you can afford to lose from your pocket only.

You are very correct.some gamblers don't even care despite that gambling is not guaranteed they can go as far of collecting money from people just to gamble and they gamble with the amount that they xan afford to lose . Taking loan from people to gamble is very risky because it is possible to even lose the money in the act of gambling, gambling is unpredicted and taking loan and loosing the game is away of just generating debt. The best way of gambling is playing with your own money and the amount that you can afford to lose. It is only lack of understanding that will make one to gamble with a borrowed money thinking that they can make it up from their game in gambling which it is possible to be a different outcome.

[AmoreJaz]

It is right that everything here in gambling is at risk and it is known to everyone. But the amount which will be used on gambling which can't afford if a loss should not be that on gambling whether that fund is the fund of himself/herself or it is taken any other person both should be treated as the same.

The simple thing is that one should not gamble with another person's money. Gamblers due to lack of capital and abundant excitement to gamble often take money from other people in the guise of "loans", "investments" and so on just to fund their gambling habit. They will mostly lose the money and and turn up to pay it back.

I would say never take another person's money just to put in a risky state. You have zero idea what that person did to get that money and you need to respect that. Gamble with money that you can afford to lose from your pocket only.

The OP's story regarding the developer was not the first one to be the culprit of losing funds of someone else's and definitely not the last. A lot of them are hiding their gambling activities or addiction to the point of resorting to using the funds they do not own. What they usually promise to themselves is to return the money before the person learns about the missing funds. However, we all know that this is gambling, and winning is not a sure thing.

If you are in the situation where the funds is just within arm's reach, but it is not yours - don't be tempted. Do remember your moral principles in life. Are you ready to subject yourself to embarrassment that will define your character to other people, once they found out your act?

[Forsyth Jones]

Betting with other people's money is definitely a loss, a person who bets 300k during betting is really a serious case of betting addiction and must undergo a type of treatment, in addition to psychologists to help overcome this trauma.

His reputation has certainly gone downhill, and it will be very difficult to recover again.

Investing isn't easy either, we never know what a person responsible for funds from other companies will do. Human beings are unpredictable, the best way to keep your money safe is with yourself, after all.

[HONDACD125]

Betting with other people's money is definitely a loss, a person who bets 300k during betting is really a serious case of betting addiction and must undergo a type of treatment, in addition to psychologists to help overcome this trauma.

His reputation has certainly gone downhill, and it will be very difficult to recover again.

Investing isn't easy either, we never know what a person responsible for funds from other companies will do. Human beings are unpredictable, the best way to keep your money safe is with yourself, after all.

I wonder how some people can allow others to handle their money and use it either for gambling or investments. I mean, if I know I have enough money that can be used for investments and I can earn a reasonable amount of money every month from it, I would do it myself instead of giving the money to someone else so that they can try. Even if it's someone who seems to be an expert in the field, it is still better for you to learn everything and start with your money because no one else would be as careful as you with your money.

When you are handling everything yourself, whether you are gambling or trading or doing anything in general with your money if you incur a loss, you will feel bad, but you won't feel as bad as you would if it was someone else doing it with your money instead of yourself.

So, I don't recommend this thing at all. Keep your funds to yourself and do whatever you want with it, just don't waste it, which you won't because who doesn't love their money?

[LogitechMouse]

Not a rare occurrence because this kind of scenarios happens all the time.
It's just a bit unfortunate to see that these people who have just held a huge amount of money is resorting to gambling instead of focusing on what really is the use of that money.

I believe many in our country know this already, but I'll just share it here. There's this one engineer who has been hired by a famous influencer to build his dream house. The total cost of the house is at around $427,000 (around 25M PHP), and this influencer gave the engineer $136,640 (around 8M PHP) to start the project already. A few weeks after the engineer got the money, the influencer lost communication to him, and to cut the story short, the engineer used the money that he got in gambling. Worse is that the influencer isn't the only one who lost his money, but many more who hired the engineer to build their homes as well.

Lesson: Use the money where it must be used.

[HelliumZ]

Op, Many incidents like the one you mention are happening now, especially in organized societies, many people save money, but those who gamble and lose from the saved money do not have any common knowledge. In my area a widowed mother embezzled her money like this and got away with a gambling bet. Later, the widow took legal recourse for the money, as a result of which the police arrested the money embezzler and recovered the money. In this way, new events are constantly happening.

[traderethereum]

Betting with other people's money is definitely a loss, a person who bets 300k during betting is really a serious case of betting addiction and must undergo a type of treatment, in addition to psychologists to help overcome this trauma.

His reputation has certainly gone downhill, and it will be very difficult to recover again.

Investing isn't easy either, we never know what a person responsible for funds from other companies will do. Human beings are unpredictable, the best way to keep your money safe is with yourself, after all.

That is why we don't have to bet using other people's money. The risks will be big if we lose because some of them can not accept the lose and can asks to us to gives back their money.
Using big money to playing gambling is not recommended as there is no guarantee to wins the games. His reputation is hard to fix since he hurts many people and no one will believes him anymore.
If you wants to invest, you don't have to join with other people because you have your responsibility to take care of your money. Besides that, you must know what you invests and research that investment before you decides. 

[btc78]

That is why we don't have to bet using other people's money. The risks will be big if we lose because some of them can not accept the lose and can asks to us to gives back their money.

People with no money usually borrow money because they are so confident that they will win more money to pay off their lenders and have a little more extra for them. It’s risky yes but maybe they really have no choice. I am not condoning it as it is really stupid but I do understand where they are coming from.

If you wants to invest, you don't have to join with other people because you have your responsibility to take care of your money. Besides that, you must know what you invests and research that investment before you decides. 

What works you might not work for others. It’s better to look out for yourself than to have to look out for another. The best we can do is give a little bit of general advice then warn them of the risks and consequences of everything they will do.

[Poker Player]

People with no money usually borrow money because they are so confident that they will win more money to pay off their lenders and have a little more extra for them. It’s risky yes but maybe they really have no choice. I am not condoning it as it is really stupid but I do understand where they are coming from.

Compulsive behavior, I would say. I wouldn't say that they are sure of winning, but that the addiction gets the better of them, they know that deep down what they are doing is wrong, and that there is a great risk in what they are doing but they still bet on it. I would say that in these cases where they bet with "borrowed" money the emotion is even greater.

The problem with these behaviors with gambling is the large amount of money you can lose in a short time, and in cryptocurrency casinos even more so. In fiat casinos there are usually deposit limits, and even if there are not, if you have to deposit by credit card or wire transfer there are limits from your bank. But if you have $1M in cryptocurrencies you can deposit them in a casino and lose them in an instant.

[hyudien]

It is right that everything here in gambling is at risk and it is known to everyone. But the amount which will be used on gambling which can't afford if a loss should not be that on gambling whether that fund is the fund of himself/herself or it is taken any other person both should be treated as the same.

The simple thing is that one should not gamble with another person's money. Gamblers due to lack of capital and abundant excitement to gamble often take money from other people in the guise of "loans", "investments" and so on just to fund their gambling habit. They will mostly lose the money and and turn up to pay it back.

I would say never take another person's money just to put in a risky state. You have zero idea what that person did to get that money and you need to respect that. Gamble with money that you can afford to lose from your pocket only.

That is a case that has happened a lot in my opinion, with many people now who are definitely familiar with gambling, they often cannot control themselves so they can spend all their money on gambling and because they are like that it makes them addicted to gambling so that when they run out of money they still have the idea of ​​looking for ways to make money and gamble again, one of which is taking out a loan, of course that's a normal thing to do, but they certainly won't say that the money borrowed is to be used for gambling, because the borrower won't lend money if it's money. will be used for gambling.
It's true what you say, we have to be able to gamble properly using our own money and don't involve other people who don't know anything, moreover they don't deserve the bad effects of the gambling we do. Even if we run out of money and want to continue gambling, we hope we can refrain from gambling again. forcing yourself to continue gambling will only bring disaster.

[Toro iskandar]

Betting with other people's money is definitely a loss, a person who bets 300k during betting is really a serious case of betting addiction and must undergo a type of treatment, in addition to psychologists to help overcome this trauma.

His reputation has certainly gone downhill, and it will be very difficult to recover again.

Investing isn't easy either, we never know what a person responsible for funds from other companies will do. Human beings are unpredictable, the best way to keep your money safe is with yourself, after all.

That is why we don't have to bet using other people's money. The risks will be big if we lose because some of them can not accept the lose and can asks to us to gives back their money.
Using big money to playing gambling is not recommended as there is no guarantee to wins the games. His reputation is hard to fix since he hurts many people and no one will believes him anymore.
If you wants to invest, you don't have to join with other people because you have your responsibility to take care of your money. Besides that, you must know what you invests and research that investment before you decides. 

Totally agree with this, using other people's money just for gambling is clearly a very wrong action and has a very high risk too, because we all never know whether we will win in gambling using other people's money or vice versa, the defeat that will occur and we are ready or not ready to be responsible by immediately replacing the money.
Yes, if previously there was a special agreement or agreement, it might be tolerated, but if there is no agreement, it must be replaced immediately because it has harmed other people too.
It is true that if you want to invest, you should only use the money you have, even though it is not much, but it is the safest step for us.

[Ojima-ojo]

One of the reason I never accept to be custodial of public contribution and holding the money is to avoid the temptations that may come along with such available funds, because many of those who make such a mistake of using other people's money to gamble or trade are the one that have access to money that have no immediate use or need and they will think that by taking some or whole of the money to go into such thing, they will be able to double the money and at the same time make some profits, but at the end, they will end up being disappointed.

Is better I don't have access to any extra money which is not mine, since I am an active gambler, and I have the decipline to properly managed my own money that I either gamble or trade with occasionally.

[Solosanz]

Totally agree with this, using other people's money just for gambling is clearly a very wrong action and has a very high risk too, because we all never know whether we will win in gambling using other people's money or vice versa, the defeat that will occur and we are ready or not ready to be responsible by immediately replacing the money.
Yes, if previously there was a special agreement or agreement, it might be tolerated, but if there is no agreement, it must be replaced immediately because it has harmed other people too.
It is true that if you want to invest, you should only use the money you have, even though it is not much, but it is the safest step for us.

There are some people who think other people money aren't their money because if they lose it, they're not responsible with the lose. That's why, it's really risky to hand your money to other people including to your president or banks, because you don't know what they will do with your money. Even you complain and make it viral, the president or banks can hire someone to shut you down.

[Awaklara]

One of the reason I never accept to be custodial of public contribution and holding the money is to avoid the temptations that may come along with such available funds, because many of those who make such a mistake of using other people's money to gamble or trade are the one that have access to money that have no immediate use or need and they will think that by taking some or whole of the money to go into such thing, they will be able to double the money and at the same time make some profits, but at the end, they will end up being disappointed.

Is better I don't have access to any extra money which is not mine, since I am an active gambler, and I have the decipline to properly managed my own money that I either gamble or trade with occasionally.

Yes, it will be better to protect ourselves from falling into difficult situations. Those of us who are active in gambling don't want to have difficult situations, but sometimes when we have the opportunity we might make small mistakes. Even though we can return in a better situation, in gambling when something continues to happen to us and we don't have control, then everything will become very bad.
gamblers must use their own funds to bet. And of course, never exceed your limits so that problems don't occur. because the beginning of gamblers in problems like that is when they bet beyond the limits of their financial capabilities.

[Dailyscript]

It is right that everything here in gambling is at risk and it is known to everyone. But the amount which will be used on gambling which can't afford if a loss should not be that on gambling whether that fund is the fund of himself/herself or it is taken any other person both should be treated as the same.

The simple thing is that one should not gamble with another person's money. Gamblers due to lack of capital and abundant excitement to gamble often take money from other people in the guise of "loans", "investments" and so on just to fund their gambling habit. They will mostly lose the money and and turn up to pay it back.

I would say never take another person's money just to put in a risky state. You have zero idea what that person did to get that money and you need to respect that. Gamble with money that you can afford to lose from your pocket only.

You are very correct.some gamblers don't even care despite that gambling is not guaranteed they can go as far of collecting money from people just to gamble and they gamble with the amount that they xan afford to lose . Taking loan from people to gamble is very risky because it is possible to even lose the money in the act of gambling, gambling is unpredicted and taking loan and loosing the game is away of just generating debt. The best way of gambling is playing with your own money and the amount that you can afford to lose. It is only lack of understanding that will make one to gamble with a borrowed money thinking that they can make it up from their game in gambling which it is possible to be a different outcome.

Don't you think it is because they have the mindset and assurance of winning the money and doubling it back? Perhaps it could be that lately, they made some good winnings making them fit to to take as much as they can to gamble. I just want to be real here. I have seen a case where a gambler took a loan not because he had no money but because he had make huge wins for himself and decide to take more loan added to the amount he had to gamble so that he will get rich quickly.

[Obari]

These news aren’t  good ones and I wish more better things can be down about the whole thing and I think more sensitization can be down about the issue of gambling.
As a gambler, it is always advised that, you only gamble with the money you can afford to lose and over the time, there have been several topics against gambling with borrowed funds or money one can’t afford to loss.

Personally I don’t like taking custody of other peoples funds and that’s because I don’t want to have issues with anyone and I’ve also tried to understand that, the moment there is money at hand, problems and challenges begin to arise and it takes very serious commitment to avoid those temptations .