Be careful with people's money

[KTChampions]

You are absolutely right because borrowing to gamble is like a big risk. Gambling itself is so risky that one can return to zero with a very short time, so borrowing money to gamble is like compounding the risk and making it unbearable. Besides, when gambling with borrowed funds, there is a high chance that the decision making process will be effected leading to poor gambling results. There will be this rush to make profits to be able to pay back the debt and this will become the source and motivation for reckless gambling, mistakes and sources. .

Probably there is still an option when it is justified to engage in gambling with borrowed money. I think if a person has a multi bet with a huge odds and he wants to hedge it (not risk the results of the remaining outcomes but take what he won), it is quite reasonable to borrow money and make a hedging bet.
Theoretically, such a bet is a risk reduction, although even here there is, for example, the risk of non-payment of winnings for one reason or another.

[Bitcoin_people]

Lending money for gambling should never be the most risky. I once bet a guy close to me who lied to me for a loan. If I knew that person would gamble, I would never have lent him money, but he borrowed money and gambled by lying to me. Although he never returned my money, and I never asked him for it, I will never lend money to anyone who bets on gambling in the future. I have seen many people who gambled with borrowed money faced more problems and losses and never won by betting but lost more times. So gamblers make this mistake most of the time betting with money loan is the riskiest so such risk should not be taken.

[Dr.Bitcoin_Strange]

Gambling with other people's money means borrowing gambling which is very risky and is done by those who are very addicted to gambling but have no money in their own pocket.

If you don’t have your own money to gamble, then it’s better we don’t gamble, we shouldn’t spoil our reputation just because we want to gamble. It doesn’t make any sense to me, if the person doesn’t trust you, then you won’t be given the money to hold, so the money is supposed to be properly stored, and it shouldn’t be used for anything, not to mention gambling. The only person who will gamble with the money kept with him is an addicted gambler. That’s why I don’t recommend an addicted gambler be in charge of money.

Some people are already aware of all these things you are saying because they have been said countless times, but they are just ignorant about them. I came across this thread a day before yesterday. Actually,  it was the first time I was hearing about such a disorder, but I think I understand that the reason why some gamblers take the kind of rash decisions that they do in gambling is because they have ADHD disorder and they don't even know about it, and someone who is not also aware of the symptoms cannot tell. Because sometimes a gambler can take those decisions without thinking about the consequences until they lose the money. 

[Cookdata]

Lending money for gambling should never be the most risky. I once bet a guy close to me who lied to me for a loan. If I knew that person would gamble, I would never have lent him money, but he borrowed money and gambled by lying to me. Although he never returned my money, and I never asked him for it, I will never lend money to anyone who bets on gambling in the future. I have seen many people who gambled with borrowed money faced more problems and losses and never won by betting but lost more times. So gamblers make this mistake most of the time betting with money loan is the riskiest so such risk should not be taken.

Gambling under false pretense should be jail term Why borrow money and lied because they want to gamble, that alone has broken your trust and next time, he may even need another money for something important but because he refuse to settle the previous one that he borrowed under lies will stop him from getting another loan. Funny thing about this is that, he might not win anything from that bet, if indeed he did, there is possibility of him returning the money to you.

I remember having similar experiences, there is this guy that I used to give money, he would tell me he is hungry and I will spare him what I have on me but one day we were having discussion in group and he said the money I gave him a week ago, he used it for gambling and that's how I got to know. He is a serious gambler but the money I do gave him never cross my mind that he used it to gamble and I stopped from that day, that's nonsense behavior.

[tread93]

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

Agreed don’t mess with anyone’s money that isn’t yours because it could come back to haunt you and bite you! All of these folks who are so addicted that they would even steal other peoples money to fund their addiction is sickening. At that point it’s safe to call gambling a disease.

[hyudien]

Lending money for gambling should never be the most risky. I once bet a guy close to me who lied to me for a loan. If I knew that person would gamble, I would never have lent him money, but he borrowed money and gambled by lying to me. Although he never returned my money, and I never asked him for it, I will never lend money to anyone who bets on gambling in the future. I have seen many people who gambled with borrowed money faced more problems and losses and never won by betting but lost more times. So gamblers make this mistake most of the time betting with money loan is the riskiest so such risk should not be taken.

Borrowing money to gamble is of course a risky behavior and thing because those who have the courage to borrow money to gamble of course they cannot prevent their behavior from doing something that carries big risks, besides those who borrow money to gamble tend to not think about the risks and impacts. bad things will happen with the decisions they make, apart from that it is very unlikely that when gamblers borrow money to gamble they will be able to return or pay off the money they borrowed with a big possibility that what will happen is defeat of course there is no guarantee that they will be able to get a definite win and return the money back previously borrowed.
I myself will not lend money to those whose purpose of borrowing is to gamble, although I could not ask for the money back but it seems unethical to lend money for gambling. I think it is the same as giving the gambler a breather to gamble again and that won't happen. resolve the problems they are experiencing completely.

[bakasabo]

~ I can only say, that what you have written refers only if gambler borrows money with hope to earn. If someone borrows just to have fun, then I see nothing bad in gambling with other persons money. In the end, what matter is whos money gambler gambles, or who has asked for money. I would not gamble with money that someone unfamiliar gave or try to give me. I would borrow or lend money to a friend in most cases (in general, I would not lend money only to a totally drunk friend, because money would be lost (most likely) and I dont want friend to have problems later).

Good point, mate. Indeed, if you borrowed from a friend $10 to have fun in an amusement park, there's nothing wrong with that. And I'd say the same about borrowing $10 in Vegas to try your luck on slots 10-20 times. Who knows, you may win huge, but if you lose it it's no big deal, right?

And if you borrow big money, no matter how careful you are planning to gamble with it, you just shouldn't do it at all.

There's nothing wrong with giving loans or borrowing money to close friends or relatives, but if you borrow money or give loans for gambling, even with a small amount, I think it's a wrong action, even if it's just to have fun gambling. I would never do that even if a close friend asked for a loan. Because gambling gives you a sense of curiosity, once you try it there is a feeling of addiction, it is better to gamble with the money you have, not other people's money, gambling with other people's money will give the impression that there will be no sense of responsibility. responsible because in his mind it is not his own money but other people's money, and in the end it will be difficult to pay off the loan because there is no sense of responsibility, in my environment most of them are like that, they fight because of problems like this, and most of their friendship ties are damaged because of gambling the.

But if you gamble together, would you still not lend your friend some money? A friend isnt a stranger. In most scenarios, you know how much that person earns, how he spends money, what he can and can not afford. You know a lot about that person. You can make a prediction, if that friend can return a loan, or it will be complicated to get your money back. If all flags are green, why would not you lend him money? And as you have mentioned responsibility, a close friend will be double responsible with money, as not only he can lose and be in debt, but he can also lose friend and respect.

[Cryptmuster]

But if you gamble together, would you still not lend your friend some money? A friend isnt a stranger. In most scenarios, you know how much that person earns, how he spends money, what he can and can not afford. You know a lot about that person. You can make a prediction, if that friend can return a loan, or it will be complicated to get your money back. If all flags are green, why would not you lend him money? And as you have mentioned responsibility, a close friend will be double responsible with money, as not only he can lose and be in debt, but he can also lose friend and respect.

If you trust this friend, then of course you can lend him money, but if you see that he has problems with money and he is passionate about gambling, then you should think about whether he can return this debt to you. And if this is a reliable friend and he has some temporary difficulties with money, and he is not keen on gambling, then I believe that in this case you can borrow, and not worry about repaying the debt. Each situation is individual, and you need to take into account the circumstances under which a person needs money.

[bakasabo]

I will say it like this - if I am confident, that a friend is able to repay debt and wont disappear, I will always lend him the amount of money I can lose/spend/wont change my life. Probably, I would not even ask that person for a lot of details why he need that money. If it is an investment, new car, ran out of money and cant buy food, gambling, and etc, I dont care. I know that person, his financial abilities, we set a repay date and that is it. As well as I expect same attitude from other. I dont have money with me today, or daily card limit dont allow me to spend more, I will borrow the amount I can repay and be careful with them.

[rachael9385]

Gambling with other people's money means borrowing gambling which is very risky and is done by those who are very addicted to gambling but have no money in their own pocket.

If you don’t have your own money to gamble, then it’s better we don’t gamble, we shouldn’t spoil our reputation just because we want to gamble. It doesn’t make any sense to me, if the person doesn’t trust you, then you won’t be given the money to hold, so the money is supposed to be properly stored, and it shouldn’t be used for anything, not to mention gambling. The only person who will gamble with the money kept with him is an addicted gambler. That’s why I don’t recommend an addicted gambler be in charge of money.

Some people are already aware of all these things you are saying because they have been said countless times, but they are just ignorant about them. I came across this thread a day before yesterday. Actually,  it was the first time I was hearing about such a disorder, but I think I understand that the reason why some gamblers take the kind of rash decisions that they do in gambling is because they have ADHD disorder and they don't even know about it, and someone who is not also aware of the symptoms cannot tell. Because sometimes a gambler can take those decisions without thinking about the consequences until they lose the money. 

You are correct, one thing I learnt from this quotes is that most people don't think about the risks in the decisions that that take before going ahead to do them. However it's bad because when one can't think about his or her decisions properly before doing them it affects in future because there might be things that needed time to think about. Although people with ADHD disorder are few and the worst part of it all is that one can not tell that so so person or gamble have such mental illness because some of them inherits it from their parents.

[EluguHcman]

Trust funds are never advisable to be handed over to irresponsible gamblers because they would always or somedays find it as an opportunity to get empowered to bet, win and then replace back the money being entrusted to them but if they are unlucky at that virtue of betting with just little fraction of the money, they will want to extra more for the remainder and then that could lead to the total lost of the whole fund all because they try so utilize the opportunity to make profits up to the extend they will no longer need to bet to make the profit anymore but to recover the lost funds and then step aside but due to the aggression of recovery, they looses it all.

I have a friend who is a chronic gambler so when you tend to entrust funds to his custody, he will always declined from it and letting you obviously what he made tend to d with it if he goes out of control being attracted to gamble with the fund.

[madnessteat]

But if you gamble together, would you still not lend your friend some money? A friend isnt a stranger. In most scenarios, you know how much that person earns, how he spends money, what he can and can not afford. You know a lot about that person. You can make a prediction, if that friend can return a loan, or it will be complicated to get your money back. If all flags are green, why would not you lend him money? And as you have mentioned responsibility, a close friend will be double responsible with money, as not only he can lose and be in debt, but he can also lose friend and respect.

If you trust this friend, then of course you can lend him money, but if you see that he has problems with money and he is passionate about gambling, then you should think about whether he can return this debt to you. And if this is a reliable friend and he has some temporary difficulties with money, and he is not keen on gambling, then I believe that in this case you can borrow, and not worry about repaying the debt. Each situation is individual, and you need to take into account the circumstances under which a person needs money.

As they say, if you don't want to lose a friend, don't lend him money, but give it to him unselfishly. And this is partly true because many of us know from our own experience that money and friendship are incompatible things and that friendship ends when people lose common interests, and real friends can be only a few in a lifetime.  All other "friends" are just acquaintances. In addition, in my opinion, any responsible gambler realizes that playing gambling on borrowed money is a bad idea. Therefore, it is logical to assume that such a gambler and will not lend money knowing that they will be used in gambling.

[Hirose UK]

I will say it like this - if I am confident, that a friend is able to repay debt and wont disappear, I will always lend him the amount of money I can lose/spend/wont change my life. Probably, I would not even ask that person for a lot of details why he need that money. If it is an investment, new car, ran out of money and cant buy food, gambling, and etc, I dont care. I know that person, his financial abilities, we set a repay date and that is it. As well as I expect same attitude from other. I dont have money with me today, or daily card limit dont allow me to spend more, I will borrow the amount I can repay and be careful with them.

Consistency and trust can never be easily achieved, maybe close we also know how their life is or their financial capabilities, but we never know how someone will be in the future.
Personally, I find it difficult to trust people when it comes to money, even if it the people closest to me, especially when it comes to amounts of money borrowed for reasons that are unclear and not that important, maybe they can promise to return it on time but that not guaranteed.
And one thing I don't like most about lending money is that it can trigger hostility between friends or close relatives if they don't return the money on time, besides that it can also cause loss of trust in them.

But if it for gambling, I think that when someone lends money for the purpose of gambling capital, it will indirectly be the same as supporting other people to carry out risky activities which can even make someone addicted to gambling.
This will be more difficult and even those of us who provide loans can also find it difficult because gambling addict will always take longer to return the money they borrow.

[Dewi Aries]

But if you gamble together, would you still not lend your friend some money? A friend isnt a stranger. In most scenarios, you know how much that person earns, how he spends money, what he can and can not afford. You know a lot about that person. You can make a prediction, if that friend can return a loan, or it will be complicated to get your money back. If all flags are green, why would not you lend him money? And as you have mentioned responsibility, a close friend will be double responsible with money, as not only he can lose and be in debt, but he can also lose friend and respect.

If you trust this friend, then of course you can lend him money, but if you see that he has problems with money and he is passionate about gambling, then you should think about whether he can return this debt to you. And if this is a reliable friend and he has some temporary difficulties with money, and he is not keen on gambling, then I believe that in this case you can borrow, and not worry about repaying the debt. Each situation is individual, and you need to take into account the circumstances under which a person needs money.

This means that all decisions are in your own hands as the person who wants to give the loan, but as you said, before we make a decision, of course we must first make considerations, and if we don't know what habits that person has then maybe we can find out from other people, especially from the person's closest friends, and if in the end there are no things that could trigger bad things to happen, such as for example the person is not indicated to be involved in gambling or any habits that are a waste of money. without a definite reward then there is no harm in making the decision to give him a loan.

And in terms of whether he will be able to pay his debts or not, it actually depends on the situation he is experiencing, because not paying his debts is not always because he has bad habits, but a lack of income or a financial crisis situation could also be one of the causes, and I think It is a normal situation if they find it difficult to pay their debts to you, but if it turns out that they have bad habits such as gambling or other habits then yes that is another thing where you should not have lent them anything from the start.

And actually, for me, usually when one of my friends asks for help, such as wanting to borrow money, I usually don't think too much about when and whether he will be able to pay the debt or not, because usually money is something that is sensitive, especially in friendships. So from the start, when I give a loan to that person, I usually give up the money, meaning I don't really expect a return, but if at some point he pays it then that's good.

[slapper]

~snip~

This means that all decisions are in your own hands as the person who wants to give the loan, but as you said, before we make a decision, of course we must first make considerations, and if we don't know what habits that person has then maybe we can find out from other people, especially from the person's closest friends, and if in the end there are no things that could trigger bad things to happen, such as for example the person is not indicated to be involved in gambling or any habits that are a waste of money. without a definite reward then there is no harm in making the decision to give him a loan.

And in terms of whether he will be able to pay his debts or not, it actually depends on the situation he is experiencing, because not paying his debts is not always because he has bad habits, but a lack of income or a financial crisis situation could also be one of the causes, and I think It is a normal situation if they find it difficult to pay their debts to you, but if it turns out that they have bad habits such as gambling or other habits then yes that is another thing where you should not have lent them anything from the start.

And actually, for me, usually when one of my friends asks for help, such as wanting to borrow money, I usually don't think too much about when and whether he will be able to pay the debt or not, because usually money is something that is sensitive, especially in friendships. So from the start, when I give a loan to that person, I usually give up the money, meaning I don't really expect a return, but if at some point he pays it then that's good.

lending money isn't just about dollars and cents, it's about balls and guts. Looking someone in the eye and saying, "I believe in you, even if your credit score's shittier than my first apartment." We ignore humans in the midst of risk and spreadsheets. Money builds bridges, not walls

Giving cash as Halloween candy is not recommended. Perhaps lending without expectation of repayment is the ultimate life hack. Realizing that relationships are more valuable than interest rates is not recklessness

[GigaBit]

I will say it like this - if I am confident, that a friend is able to repay debt and wont disappear, I will always lend him the amount of money I can lose/spend/wont change my life. Probably, I would not even ask that person for a lot of details why he need that money. If it is an investment, new car, ran out of money and cant buy food, gambling, and etc, I dont care. I know that person, his financial abilities, we set a repay date and that is it. As well as I expect same attitude from other. I dont have money with me today, or daily card limit dont allow me to spend more, I will borrow the amount I can repay and be careful with them.

I appreciate your approach to lending. But I know a gambler friend who is addicted to gambling. He almost asks me for gambling money. I try to lend him but the problem is that he doesn't repay me as promised. Lending him money makes me doubt whether he will pay back or not. But when he loses gambling, he borrows money with his savant passion. He then offered to pay in perfect time. I observed his behavior several times and I told him not to keep his word. If he comes to me again to borrow money, I will refuse to pay him. If a gambler or a borrower tries to keep his word I am certainly willing to help him but I will never help him if he tries to hide himself by not paying as per the deed.

[SmartGold01]

The extent of his gambling addiction is uncontrollable because if he has control there will be no day he would go gamble with people funds without the fear of losing the money okay, what was his reason for doing that or did he think is going to double the money and refund back to the owner he percentage?
This is one thing with those who are in control of people's funds and whenever they feels like to do what they want they could easily steal people's fund to gamble at least this can also send an important messages to those who are keeping their funds on exchange or in a none custodial wallet making it too vulnerable to lose their asset.

[Hispo]

The extent of his gambling addiction is uncontrollable because if he has control there will be no day he would go gamble with people funds without the fear of losing the money okay, what was his reason for doing that or did he think is going to double the money and refund back to the owner he percentage?
This is one thing with those who are in control of people's funds and whenever they feels like to do what they want they could easily steal people's fund to gamble at least this can also send an important messages to those who are keeping their funds on exchange or in a none custodial wallet making it too vulnerable to lose their asset.

Anyone who would dare to take the money of others in order to gamble actually believe they have gotten a good chance to double or triple that money, the plan is always the same, to earn much more than the initial borrowed amount and keep the difference, the problem is obvious, the expectations of those gamblers will never be met by reality.  Even if they initially started to win money with their gambling session, it would be just matter of time before they started to lose it all and ended up holding a significant debt.
It is something one can find much of on the internet, actually, and it is a clear sign of gambling addiction which needs to be tackled as soon as possible.

[Dewi Aries]

~snip~

This means that all decisions are in your own hands as the person who wants to give the loan, but as you said, before we make a decision, of course we must first make considerations, and if we don't know what habits that person has then maybe we can find out from other people, especially from the person's closest friends, and if in the end there are no things that could trigger bad things to happen, such as for example the person is not indicated to be involved in gambling or any habits that are a waste of money. without a definite reward then there is no harm in making the decision to give him a loan.

And in terms of whether he will be able to pay his debts or not, it actually depends on the situation he is experiencing, because not paying his debts is not always because he has bad habits, but a lack of income or a financial crisis situation could also be one of the causes, and I think It is a normal situation if they find it difficult to pay their debts to you, but if it turns out that they have bad habits such as gambling or other habits then yes that is another thing where you should not have lent them anything from the start.

And actually, for me, usually when one of my friends asks for help, such as wanting to borrow money, I usually don't think too much about when and whether he will be able to pay the debt or not, because usually money is something that is sensitive, especially in friendships. So from the start, when I give a loan to that person, I usually give up the money, meaning I don't really expect a return, but if at some point he pays it then that's good.

lending money isn't just about dollars and cents, it's about balls and guts. Looking someone in the eye and saying, "I believe in you, even if your credit score's shittier than my first apartment." We ignore humans in the midst of risk and spreadsheets. Money builds bridges, not walls

Giving cash as Halloween candy is not recommended. Perhaps lending without expectation of repayment is the ultimate life hack. Realizing that relationships are more valuable than interest rates is not recklessness

Yes, maybe this could be said about the courage to let go, but maybe not everyone always has the courage to give up something valuable in life, once or twice might not be a problem, but there won't be a chance for them a thousand times. And actually, even though the two parties have a close relationship like friends, that doesn't mean it's an opportunity to be used as an alternative to borrowing money, unless a borrower really knows and confirms that the person who will borrow is a good person and is not involved in an activity. which has an element of wasting money.

On the other hand, although there may be some people like me who only have the intention to help without thinking about returns, I think this will only happen occasionally, and I also actually do it as nothing more than an experiment to find out whether the person is responsible or not. from whether they are a gambler or not, but if you know that money is something sensitive in the relationship then it might not be wrong to refuse their request.

[alegotardo]

There have been many cases like that where people misuse other people's money for their own interests, for example gambling with the money in the hope that they can multiply the money and make themselves rich. Gambling using other people's money is a very stupid act, because gambling is uncertain when you win or lose, and you will most likely lose, so gambling using money you shouldn't gamble with is very risky and should be avoided.

Exactly that, because once upon a time, whenever I read news about people's money disappearing, it was because someone had acted in bad faith.

However, nowadays it has become common for "good people" to lose other people's money even without intending to steal.

They actually believe that they were just borrowing money to satisfy an addiction and that they could easily replace the amount and still make a profit.

Unfortunately, nowadays, any community account needs to be managed with a multiple password in which two or more people need to enter a password to release the money... we no longer know who to trust, someone who seems normal can be a gambling addict and lose the money that is the dream of many people.