Clear agreements in a Casual/P2P gambling is important to ensure fair gambling

[TravelMug]

Just charge it to experience as they say, I have similar but it's a cock fighting, when the other side doesn't want to pay us that time. And they thought that we are rookie until one of my friends call his uncle who is a respected man in the cockpit and so those guys paid us immediately.

This might be the reason why most of these unconventional gambling activities are organised or controlled by violent gang leaders. Most of these dreaded gangstas usually serve as escrows. Bettors cannot dispute or argue about lost bets because they are scared of these escrows. Most of these escrows receive some percentage of the bet, which is not a bad idea.

Perhaps you are referring to fly by night illegal bookies, so yeah, here it is controlled by organized crimes and they are protected by the police. But I wouldn't say that they are sort of a gangster style as there are no so called enforcers. It just so happen that the uncle is respectable as he hold a local position in that place and so those guys who try to double cross us was afraid that if they don't pay then they might be black listed in the arena and can't play anymore.

But in this case it's very different, yeah, any form of street gambling should have a form of escrow or someone trusted by both parties to hold the money for them to ensure that the winner will get his part after the game.

[Porfirii]

The case related by the OP is so typical! I have witnessed myself several times, and I am not a regular at pools at all!! It even happened to me, not money involved (thank goodness). But it doesn't happen only in billiards. As others said, it is frequent in many games where the rules are not clear on beforehand, like in games with variations from place to place which have an impact in the way the results are interpreted.

[_act_]

The case related by the OP is so typical! I have witnessed myself several times, and I am not a regular at pools at all!! It even happened to me, not money involved (thank goodness). But it doesn't happen only in billiards. As others said, it is frequent in many games where the rules are not clear on beforehand, like in games with variations from place to place which have an impact in the way the results are interpreted.

The bet can only have clear rules if it is gambling sites or well regulated land based casinos. Sometimes the rules will be clear but the loser will just want to try to beg for what he has lost. But as for the OP, they have stupid rules. No money taking from him or the other bettors and they say they are betting. That is not how to bet. If you want to bet like that with another person, there must be other people which will act as escrow for the settlement of funds to the winner.

[Coin_trader]

Such a fun and dramatic experience but at the end of the day I learned that no matter how well we know someone too well, or even a friend or a brother we should always ensure that their money for the stake is given to a third party before any gamble is done. This is it to prevent argument and any person cheating and refusing to pay.

It depends on what kind of “friend” do you have because a real friend will honor your agreement. Also it’s very hard to wager against friend since you don’t want to take his money if you win. I do billiards gambling but never against friend since you will have attachment to the person may just friendly match without money involved.

Nevertheless, the general rule on P2P gambling is money on the table while both of you fight on the game that you choose. Never settle a bet by just verbal agreement because anyone can backout once they lose.

[Oluwa-btc]

Yesterday was a beautiful day hanging out with a friend. Just like any normal day, I would love to play the 8-ball pool. I was playing so well and i have won a lot of people even those who came to challenge a fair one. Not one guy challenged me on a bet, even on my refusal he insisted then my friend took up the challenge and they bet. The mistake i made was that I and the person there did not ensure that the money staked should be given to a middleman or brought out first before we continued the game. Unfortunately for the guy, I won him and he was supposed to pay. Then he refuses and said they did not stake anything. Everyone was surprised and refused to leave until he paid. It caused a lot of fight and arguments and a few people were injured then i have to leave the place.

This days trusting one's friend is something else and when it involves money it's usually end up most likely in fights and arguments,and when playing such games as this illustrated yes the money should be given to a third party,cause one might be partial enough to have kept their own bet money in the pocket,so when it falls that such person win, he'll just do away with the money which will generate disagreement between both parties.

And generally it's usually the rule of every games that involves betting or staking,you learnt your lesson afterwards and the good thing the arguments didn't excalate more cause I know of some cases like this that results in big problems.

[Yatsan]

Yesterday was a beautiful day hanging out with a friend. Just like any normal day, I would love to play the 8-ball pool. I was playing so well and i have won a lot of people even those who came to challenge a fair one. Not one guy challenged me on a bet, even on my refusal he insisted then my friend took up the challenge and they bet. The mistake i made was that I and the person there did not ensure that the money staked should be given to a middleman or brought out first before we continued the game. Unfortunately for the guy, I won him and he was supposed to pay. Then he refuses and said they did not stake anything. Everyone was surprised and refused to leave until he paid. It caused a lot of fight and arguments and a few people were injured then i have to leave the place.

Such a fun and dramatic experience but at the end of the day I learned that no matter how well we know someone too well, or even a friend or a brother we should always ensure that their money for the stake is given to a third party before any gamble is done. This is it to prevent argument and any person cheating and refusing to pay.

Woah it sounds to me like you had one hell of an intense, eye-opening experience! Yes indeed even to me gambling does a lot to complicate the game and make things stressful, especially in cases of lack of knowledge about the stakes or the payout. Right on target for your takeaway regarding the use of mediation in deciding an issue if it's going to help keep things on track and reduce friction. I personally advise to set some clear rules and agreements before getting into any gambling. Deposits, handling of money or put someone like the third man that equally hold the bet, and what should happen in case one person refuses to pay are agreed upon to avoid headaches. After all, even though that could be a tough experience, it is at least nice to know that something was learned from it. Keeping these warnings in mind in future games shall most likely make for avoidance of similar issues, and thereby enhance the experience to some degree for everyone involved.

[Marvelockg]

The case related by the OP is so typical! I have witnessed myself several times, and I am not a regular at pools at all!! It even happened to me, not money involved (thank goodness). But it doesn't happen only in billiards. As others said, it is frequent in many games where the rules are not clear on beforehand, like in games with variations from place to place which have an impact in the way the results are interpreted.

there are cases that I've experienced where after you've won, the person starts begging you to return the money he staked with giving excuses that he just used his last money to stake the bet and that he wasn't even serious about the bet in the first place. Any bet that takes place without someone serving as an excrew is as good as one that never happened in the first place. It's always 10% chance that it wouldn't end up in the same kind of manner that the OP narrated.

Why even allow money to come into the discussion when you're sure you can't bear the loss? This is the reason why  I don't pity that talkimg of gambling addiction as a big deal cause it's mostly aa a result of thier lack of self control that leads them to gamble recklessly because of the winning potential they expected and when it goes contrary to plan they start speaking a totally different language.

[Dr.Bitcoin_Strange]

Such a fun and dramatic experience but at the end of the day I learned that no matter how well we know someone too well, or even a friend or a brother we should always ensure that their money for the stake is given to a third party before any gamble is done. This is it to prevent argument and any person cheating and refusing to pay.

Definitely, the staked amounts is supposed to be handed over to a third party or to you whom the bet has been placed on, so that if you win him, you will leave with your profit and it wouldn't result to argument but if you lose, you will refund him. I have had similar experience before but the bet was just on a minor case and I predicted who the winner was going to be and my opposer named the price he was going to pay me if my prediction come to light but he later told me he was just kidding, after he realized that my prediction was accurate.

[Stepstowealth]

Such a fun and dramatic experience but at the end of the day I learned that no matter how well we know someone too well, or even a friend or a brother we should always ensure that their money for the stake is given to a third party before any gamble is done.

For as long as I can remember in betting around me this has been the most basic rule whenever a bet is placed, there has to be an individual who we will usually refer to as the boardman, that is the person in charge of accumulating the bets from both parties and giving the winning bet to the person that wins.
You cannot place the bets orally without committing physically and you cannot commit an amount of money that you still have in your bank account or pocket. To place a bet, the bet amount has to be dropped, deposited or sent out.

[GeorgeJohn]

Yesterday was a beautiful day hanging out with a friend. Just like any normal day, I would love to play the 8-ball pool. I was playing so well and i have won a lot of people even those who came to challenge a fair one. Not one guy challenged me on a bet, even on my refusal he insisted then my friend took up the challenge and they bet. The mistake i made was that I and the person there did not ensure that the money staked should be given to a middleman or brought out first before we continued the game. Unfortunately for the guy, I won him and he was supposed to pay. Then he refuses and said they did not stake anything. Everyone was surprised and refused to leave until he paid. It caused a lot of fight and arguments and a few people were injured then i have to leave the place.

Theirs something that's important in centralized kind of gambling, its like a dirty game and many have lose their souls in respect of that, sometimes you may continuously wining the group you're gambling with, but later run you want to leave the arena, and they will not allow you to step out the place because they have not win you, especially when you're unknown person in that area, so trade with people win precaution in anything that has to do with centralized gambling.

Such a fun and dramatic experience but at the end of the day I learned that no matter how well we know someone too well, or even a friend or a brother we should always ensure that their money for the stake is given to a third party before any gamble is done. This is it to prevent argument and any person cheating and refusing to pay.

Just ensure that when you're doing such a thing make sure that you have supporters so that you will not be intimidated in such kind of gambling, as I said before that some people have lost their life due to physical centralized kind of gambling

[Rockstarguy]

Such a fun and dramatic experience but at the end of the day I learned that no matter how well we know someone too well, or even a friend or a brother we should always ensure that their money for the stake is given to a third party before any gamble is done. This is it to prevent argument and any person cheating and refusing to pay.

While gambling it is important to have a middle man so that players can deposit their money to stake the game so that whoever lose won't be able to have access to their money. Gamblers are just interested of winning money from games but not willing to let the money go when they lose.  It will be a mistake playing gambling with someone and the money to stake the game is not giving to a middle man who will be in charge of the money because it won't be a surprise if the loser refuse to handover the money to the winner because the liver will find every means to cancel the game that was not in favour of him. Most games that players always have their money to them when gambling ends up to be serious argument.

[Agbamoni]

It was such a fun and dramatic experience, but at the end of the day, I learned that no matter how well we know someone too well, or even a friend or a brother, we should always ensure that their money for the stake is given to a third party before any gamble is done. This is to prevent arguments and any person cheating and refusing to pay.

Not just in gambling transactions or relationships that involve money or anything of value should have an agreement. The agreement should have terms and witnesses if possible. You will never know the true nature of an individual until you have financial transactions with them.  I am sorry for what happened, @OP, but you would have let him go with his money instead of allowing the situation to degenerate into violence. Such issues can lead to injuries and loss of life. This is why I prefer to gamble physically with mature and responsible gamblers that I am familiar with. Or just focus on gambling with formal gambling firms.

This is true. Aside from gambling anything that involves monetary deals or transactions should be highly have an agreement and a third party to confirm the agreement. It could be an attorney or anyone who chooses to, but it has to be someone with higher authority and legal rights. However, it must be someone we can trust. Just like in the forum here, some managers hold funds in escrow, and they act like the third party between the advertisers and the product owners. The mangers super see the happenings and ensure everything goes as planned and to the agreement.

What happened that day might be blamed on the 8-ball pool board owner. Because he would have acted as a third party to ensure that every agreement must be met to keep the reputation of his business.

[Silberman]

This is true. Aside from gambling anything that involves monetary deals or transactions should be highly have an agreement and a third party to confirm the agreement. It could be an attorney or anyone who chooses to, but it has to be someone with higher authority and legal rights. However, it must be someone we can trust. Just like in the forum here, some managers hold funds in escrow, and they act like the third party between the advertisers and the product owners. The mangers super see the happenings and ensure everything goes as planned and to the agreement.

What happened that day might be blamed on the 8-ball pool board owner. Because he would have acted as a third party to ensure that every agreement must be met to keep the reputation of his business.

This is quite common when it comes to informal bets among people, as they think they can get away with no paying what they owe, and while this can be true, since there was no contract signed between the parties that legally force them to honor the bet, at the same time our word is one of the most valuable things we have, and if we do not fulfill it, then it is obvious other people will never trusts us again and when we need them the most they will make no effort to help us, so this person that refused to pay you despite the bet being established in front of everyone, will carry that stigma until he pays.

[Jawhead999]

This is quite common when it comes to informal bets among people, as they think they can get away with no paying what they owe, and while this can be true, since there was no contract signed between the parties that legally force them to honor the bet, at the same time our word is one of the most valuable things we have, and if we do not fulfill it, then it is obvious other people will never trusts us again and when we need them the most they will make no effort to help us, so this person that refused to pay you despite the bet being established in front of everyone, will carry that stigma until he pays.

Even he already paid what he owe, people should be careful with him because he dare to not pay "small amount money", this mean he might run away if he owe a big amount money. Oh well, gambling is actually good to reveal your friends, clients, and business partners' characters before you invest your money with them. In business there's always risk, if someone can't afford to lose money, they high likely can't afford to loss in business.