Be careful with people's money

[bakasabo]

I can't stop thinking about people who dare to use other people's money to gamble in their gambling, can they not think clearly? or are they really stupid? even though it's clear that it's not their own money, don't they think about how to get it back if what they bet on ultimately loses? they shouldn't be careless in doing that, it's better to use their own money, the loss of which they can bear, rather than bear the burden of bearing the loss of other people's money and make other people also feel at a loss and I think people like that don't deserve to be trusted anymore. to hold other people's money because they reflect a bad character.

They must be responsible for using other people's money to gamble and don't just let it go, it is their own fault that must be held responsible if they cannot pay it off, it is better to take it to legal action so that it can be given a deterrent effect because they have been careless. Using other people's rights to gamble, especially if the amount of money is very large, is not an accident, but they do it on purpose.

I would not call all of them stupid. Many of them are reckless and desperate. But there are some who does not have enough or spare money, when they feel like they are going to win. I find it wrong to call everyone who borrow money for gambling as stupid. Many are, but, there are also those who succeed. For example in football sports betting, not always casino closes possibility to place bet on a win, even if one team has scored 4 times in first half. It is clear that second team will definitely lose, and there is always chance that the team will play back. So some people find it ok to take a huge risk and bet with <1.10 odd with borrowed money.

[AliMan]

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

This is worst for a person affected with this certain scenario, due to trust issues that's why money mismanagement happens. Same with the one who managed the money, people entrusted that funds thinking that it would be safe in their friend's custody that turns out nightmare.
The huge mistake is the wrong mindset of quick rich idea, which this student found through social media and other crypto ads circulating online, it could be from trading or gambling. I feel pity to those affected students, because I myself experienced the same thing but not with gambling issue but due to personal interest.

[Cryptoprincess101]

Some people are so addicted to gambling such that they don't even have a conscience about something that belongs to another and if you ask me I will say this is a form of stealing by tricks and anyone who mismanaged others people's funds to play gamble should be punished severely. Back in the days when I was steal in the village, a man from my community was arrested for a crime he didn't commit and was charged to court and the family of the man gave the man's cousin some money to give to a lawyer that wanted to perfect the man's bail terms only for this his cousin to divert the money into gambling and he lost all the money in the process, when the family found out that was what he did the beat him up severely ever since then he has never entered a gambling hall again.

Gambling is a game of risks so you have to only risk what belongs to you and not to use other people's money to play gamble because if you lose it the consequences awaits you so if you don't have means of raising money to gamble just forget about it at that time till you have money of your own.

[pinggoki]

I don't know what's wrong that the person that managed the money of those students but I don't think that they've ever done anything wrong not to mention that those students know what they were in for when they've given that money to those people, pretty sure that you'd see some kind of common sense thrown out there like, it's risky to do that but they did it. It's never a good idea to entrust your money to someone unless it's a bank that does those funds where they pool the client's money to buy stocks, I will never side with people like that especially if there's no forcing to entrust that money to that person, then it's clearly wrong to do it.

The only time that I would give my money to someone to grow it in gambling is when the player is high level poker player like Negreneau or Tom Dwan but other than that, never entrust your money to anyone for gambling, it doubles the risk and you don't get the excitement and happiness of gambling.

[Litzki1990]

It is almost like this, we see such cases happening regularly around us where a friend borrows money from another friend and they do various things with that money but later when that friend wants the money back he is unable to return the money. Again there are cases where a few friends have set up a business but among those friends the one who is responsible for the money neglects his responsibility and spends the money on his own needs. When one spends the money of all the friends and does not tell, but later there is trouble between them and many unpleasant incidents are seen with this trouble. Each of us should be careful about this from our own position and we must make sure that we do not have the slightest greed for other people's money.

[moneystery]

that is the risk of entrusting money to someone else, that at any time the money could be misused by the person holding the money. i remember some time ago someone opened a thread here and discussed a child who carelessly used money entrusted to him by his parents. he used the money on gambling in the hope that he could earn more money by gambling with the money, but what happened was that he lost all the money and he didn't know what to do next. that is one example of how gambling can mislead someone because they think that they can gamble the money they hold, but in the end they lose it all. because it is not appropriate for someone to use other people's money just for gambling, because it is very risky and at any time they can lose the money.

[mvdheuvel1983]

Some people are so addicted to gambling such that they don't even have a conscience about something that belongs to another and if you ask me I will say this is a form of stealing by tricks and anyone who mismanaged others people's funds to play gamble should be punished severely. Back in the days when I was steal in the village, a man from my community was arrested for a crime he didn't commit and was charged to court and the family of the man gave the man's cousin some money to give to a lawyer that wanted to perfect the man's bail terms only for this his cousin to divert the money into gambling and he lost all the money in the process, when the family found out that was what he did the beat him up severely ever since then he has never entered a gambling hall again.

Gambling is a game of risks so you have to only risk what belongs to you and not to use other people's money to play gamble because if you lose it the consequences awaits you so if you don't have means of raising money to gamble just forget about it at that time till you have money of your own.

Gambling does not know what conscience more especially when addiction is involved, aside gambling, many people are scared to spend other persons money in their possession, give them money today to hold for you ask them tomorrow they will have a lot of excuses to present to you, mate, you should know that such laws cannot be in existence because even rich people do this too the only difference is that they will pay may be gradually or seek for immediate fund to pay, in the case you narrated, there are individuals you will beat like that, it will trigger them to gamble more, gambling has a way of ruining person if not controlled but all depends on the individual gambler, if we notice that someone is a gambler, giving such person public or personal money to keep is very risky because gamblers believe that sure odd exist and thats why they fall into temptation most times.

[Jawhead999]

When was people's money is something that we can take easily?

I always being carefully when someone hand their money or something to me because it's risking my reputation, if I return their money or something that damaged or not same anymore, they might complain and say something bad about me to other people.

Sometime, the best jobs for gamblers are jobs that doesn't have any relation with financial.

[zuzie]

When was people's money is something that we can take easily?

I always being carefully when someone hand their money or something to me because it's risking my reputation, if I return their money or something that damaged or not same anymore, they might complain and say something bad about me to other people.

Sometime, the best jobs for gamblers are jobs that doesn't have any relation with financial.

Your opinion is very wise and I also agree with that because we have to be more careful and not just trust other people when it comes to finances, if someone else gives us a loan of money easily for us to use for gambling, it's clear We have to be careful because it could be a trap for us because it is impossible for someone to really sincerely lend us money just to gamble.
And we have to be more wary of other people because money can create new problems in our lives if we don't clearly know where the money comes from.

[ethereumhunter]

Manage other people finance is difficult because there will be many tempts that will comes to us and we can use that money for anything that can caused us in trouble. We don't have to try to do that thing if we feels that we can't manages or saves other people's money because we can gets a problems. If we knows gambling and often playing gambling, we can use that money to playing gambling without thinks what's the impact from what we do. Once we knows gambling, we will difficult to stay away from that unless we have a strong self control and we knows that playing gambling can makes us in trouble. That's why if we wants to playing gambling, we must not use other people's money because if we lose that money, we must repay that money to prevents the trouble. It will be more safe if we use our money and responsible with that money from the big lose so we can enjoy playing gambling moderately.

[MRY]

that is the risk of entrusting money to someone else, that at any time the money could be misused by the person holding the money. i remember some time ago someone opened a thread here and discussed a child who carelessly used money entrusted to him by his parents. he used the money on gambling in the hope that he could earn more money by gambling with the money, but what happened was that he lost all the money and he didn't know what to do next. that is one example of how gambling can mislead someone because they think that they can gamble the money they hold, but in the end they lose it all. because it is not appropriate for someone to use other people's money just for gambling, because it is very risky and at any time they can lose the money.

That's right, I don't even dare to entrust money to people, even my own relatives, because no one can guarantee that they will properly maintain the trust we have placed in them. It's better to keep it to yourself and then when you have a family then you can share all the asset information with the people you love which in my opinion will be more useful and of course still put the trust you have placed in it and he must continue to look after it well.

[GxSTxV]

Using other people's money for your own good is considered theft either no matter where or how you use that money.
It is a very big responsibility to manage someone else's money and belongings because it can be so stressful because it's simply not yours and any small inconvenient that could occur might not be acceptable.

I think that people should look a lot in the background and history of the person they want to trust their money with, even if that person is a relative or a close one.

Gambling addiction might push someone to do such act thinking they are able to double the money they bet with and give back the money they used and earn more for themselves  which is completely wrong and can put that person into a lot of trouble, so it is very best to gamble with your own money.

[Uhwuchukwu53]

Using other people's money for your own good is considered theft either no matter where or how you use that money.
It is a very big responsibility to manage someone else's money and belongings because it can be so stressful because it's simply not yours and any small inconvenient that could occur might not be acceptable.

I think that people should look a lot in the background and history of the person they want to trust their money with, even if that person is a relative or a close one.

Gambling addiction might push someone to do such act thinking they are able to double the money they bet with and give back the money they used and earn more for themselves  which is completely wrong and can put that person into a lot of trouble, so it is very best to gamble with your own money.

Well I will have a controversial agreement with this your saying of using people money as theft, we are all human and we seek to strive in making Life better by means of investment, if a friend keep money in your hand and is not ready to invest and you can meet up his date for the money when he proposed of using it, if the the owner is aware there is nothing wrong it because become a theft when all this was carried out without the knowledge of the owner and failure of providing the money as at when needed. I am pointing my references from our fiat bank it's they same system of operations those they deposit money their money is used to do business by loaning it to heavy contractors or investors without the knowledge of depositor they are not considered as thief because when you need it you can still get your money as it happens today in our nation most bank don't won't give the amount you requested as they will say there is no money calling such a theft  is contradictory.

[Ruttoshi]

that is the risk of entrusting money to someone else, that at any time the money could be misused by the person holding the money. i remember some time ago someone opened a thread here and discussed a child who carelessly used money entrusted to him by his parents. he used the money on gambling in the hope that he could earn more money by gambling with the money, but what happened was that he lost all the money and he didn't know what to do next. that is one example of how gambling can mislead someone because they think that they can gamble the money they hold, but in the end they lose it all. because it is not appropriate for someone to use other people's money just for gambling, because it is very risky and at any time they can lose the money.

That's right, I don't even dare to entrust money to people, even my own relatives, because no one can guarantee that they will properly maintain the trust we have placed in them. It's better to keep it to yourself and then when you have a family then you can share all the asset information with the people you love which in my opinion will be more useful and of course still put the trust you have placed in it and he must continue to look after it well.

The problem is that you will not know if the person that you are keeping your money with will not be capable of keeping it safe. If we all know that person is not capable, we will never entrust our funds with them. It is when they have used the money and cannot provide it when we ask is when you will know that you gave the wrong person your funds to keep.

An addicted gambler is an irresponsible person, and such people will always used any funds that is in their custody be it their or not to gamble, believing that they can double it, because they want to keep on chasing their losses.

[Rruchi man]

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.

I have had someone who worked for me squander away money meant for a job on gabling on virtual games. He used it all to satisfy his gambling addiction and went into hiding for two weeks. It was after he was arrested by the police that we discovered that he used the money for gambling.

If you know yourself to have a serious gambling problem, you have no business being in custody of people's money for them. The money you should be in custody with should be your own money, so that in case you succumb to the temptation of gambling, you will not be risking other people's money that you have in your possession.

If you know another person who has a gambling problem, you should avoid trusting them with money.

[qwertyup23]

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.

Just to add on what OP mentioned, there are even cases where people would also loan money in order to satisfy their gambling urges. They have this false sense of hope where they think they can hit the jackpot or at least double to triple their initial deposit. But in reality, they only put themselves in a more difficult situation as their debts compound increasingly with each bet that loses in the process.

Using other people's money for your own good is considered theft either no matter where or how you use that money.
It is a very big responsibility to manage someone else's money and belongings because it can be so stressful because it's simply not yours and any small inconvenient that could occur might not be acceptable.

I think that people should look a lot in the background and history of the person they want to trust their money with, even if that person is a relative or a close one.

Gambling addiction might push someone to do such act thinking they are able to double the money they bet with and give back the money they used and earn more for themselves  which is completely wrong and can put that person into a lot of trouble, so it is very best to gamble with your own money.

I definitely agree with your statement.

Not only is it considered theft, but these are signs that a person definitely succumbed to gambling addiction. I also read stories where people would use their own savings and even their tuition fee for gambling. After losing, they become problematic on how they can recover these loses as they are definitely in a very conflicted situation.

[GiftedMAN]

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.

I have had someone who worked for me squander away money meant for a job on gabling on virtual games. He used it all to satisfy his gambling addiction and went into hiding for two weeks. It was after he was arrested by the police that we discovered that he used the money for gambling.

If you know yourself to have a serious gambling problem, you have no business being in custody of people's money for them. The money you should be in custody with should be your own money, so that in case you succumb to the temptation of gambling, you will not be risking other people's money that you have in your possession.

If you know another person who has a gambling problem, you should avoid trusting them with money.

This is very correct but I think in so many cases, the people who have gambling addictions have made so many mistakes of accepting to keep money for people when they know the sickness they are suffering from which is gambling addiction, a similar incident has also occurred where someone was intrusted with a certain amount of money that is meant for the committee of friends where he is a member but when the committee requested the money the young man was know where to be found but when he was later held by the people he confessed that he used money to play 2odd thinking that he will double the money.

I think the best thing to do right now before leaving money in the hands of anyone is to do a proper investigation especially asking people around him or her to find out if the person is a gambling and if you discover that he or she is a gambling do not intrust your money into such person to avoid excuses.

[swogerino]

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.

this shouldn't always be shifted to gambling to be honest. He could have squandered the money with whichever way he chooses to buy it's just that for this context, he chooses to use it to gamble. People need to understand that any money that's not your own should be kept for the purpose for which the money got into your hands. You can't be too smart when it comes to using people's money. There is some sort of spirit that's associated with people's money. Sometimes you can use your money to gamble and wouldn't loose it but when it comes to other people's money, it's always strange how it goes off in no time.

If you aren't ready to gamble responsibly most expecially when it has to do with people's money, you should reconsider quiting entirely.

It's because the temptation on gambling is for real, everyone is going to be affected and by suckered and the lure of the potential to win big. I just watched a documentary on Netflix about the Centra founder and how he lost the last $100k of their money into gambling and that he almost want to kill himself after that. And so this story is not the first team and again, it's tempting to put someone's money into gambling because you are thinking that you can double it and as the same time have some fun. But the big question is what happens after you lose everything? It will take a lot of mental toll on the individual and just like the documentary that I watch he contemplate suicide, but at least he snapped from it when he did talk to people close to him.

That is the last level of addiction,believing you can double anyone money that is not yours,no matter how close to you the person or entity is gambling these persons or entities funds is something not acceptable.Usually people have ended up just like this guy except that they have been having more dramatic consequences,they killed themselves,quite some of them as they didn't bear the shame of such happening and losing all of such funds into gambling.

I would never borrow money to gamble or even worse using this money without permission except money that is mine,I can lose every single penny that is mine trying to hit it big but never with anyone else money as history has shown us that 99.99% of cases end really bad.

[salad daging]

I would never borrow money to gamble or even worse using this money without permission except money that is mine,I can lose every single penny that is mine trying to hit it big but never with anyone else money as history has shown us that 99.99% of cases end really bad.

If you borrow from someone and you say the money will be used for gambling then the borrower will not give it to you because he knows that money for gambling is unlikely to be returned within the due date, considering that most gambling is losing.

Until now I have never borrowed money for gambling because I know this is bad to do, so set aside a little money for fun at the casino then it will be better and not make your financial situation worse.

Yes, it's true that there is no history of them borrowing money ending up sweet, but I saw some cases before where rich people fell into poverty because of spending money on gambling.

For me the casino is for fun with $20 without any borrowed money it is more than enough and I can afford to lose $20 in gambling because this will not ruin my finances.

[Stable090]

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.

I see no reason why you should use the money kept in your custody for anything. Both trading and gambling are not things you should think you can do and make quick money from easily, so don’t risk money kept in your custody for things like this. Most people think when they trade, they can easily make money from it, so when money is kept with them, they will always want to make use of the opportunity, but they don’t know trading is not that easy, things can easily go against them, and they will be losing money.
 
Also, gambling is not something that should be done for the sake of money, if you are gambling, there are always higher chances of losing money. Don’t be too confident with your bet, anything can happen when gambling, so make sure you use your money to gamble, and it should be done with any amount you can afford to lose.