Anyone here brave enough to borrow money for gambling to fulfill their dreams?

[Maslate]

I am just having this thought: if we truly trust our gambling skills, then just like starting a business, we take risks because we believe we’ll succeed in the future. So, what if we’ve proven our strategy works, but we’re only betting small amounts and missing out on bigger opportunities? We might consider borrowing money to fast-track our success. Has anyone ever done that?

[BABY SHOES]

Wouldn't dare to do that because gambling doesn't necessarily win... you know the winning factor is due to luck, but if the bet amount is small why borrow? I think a small amount of people can afford it.

In gambling do not dare to do this, and we have often discussed several times that loans for gambling are not recommended, even though you know there are strategies that work, but it won't last long, right? There is not even a strategy in gambling to win consecutively.

[Davidvictorson]

Personally, I have not done that. I know some people who have gone to loan sharks to borrow money to bet on a football match which they believed so much that their prediction was correct and that they will win and pay back their loan. But y'all know how these types of stories end - definitely not a happy one. I don't judge but if you do that I already consider you as showing early signs of gambling addiction. Because there is a lack of delay of gratification. What that progresses to is stealing and engaging in some other bad acts just to get the thrill of gambling. No matter how much you trust your gambling skills, you should know that there will be more games to bet on and if you don't bet on that particular one, you will still be fine.

[aioc]

I am just having this thought: if we truly trust our gambling skills, then just like starting a business, we take risks because we believe we’ll succeed in the future. So, what if we’ve proven our strategy works, but we’re only betting small amounts and missing out on bigger opportunities? We might consider borrowing money to fast-track our success. Has anyone ever done that?

Gambling will never fulfill your dream if, if you say you have a proven strategy to work, it could still backfire because in gambling there's always uncertainty and the house always has an edge. You may have a good winning ratio against the house, but it will eventually regain its losses, and the worse is you lose the money that's coming from a loan.
Never take a loan; its very rare to see a gambler winning using money coming from loans.

[Charles-Tim]

If you make the right calculation about you gambling, you will noticed that you will lose than win. Do not let the calculation be of short term like a day or sime days but of long term like gambling for like a month or more before you calculate your profit and loss. That would be when you will noticed that you will still likely lose all the money you borrowed for gambling.

[memehunter]

I am just having this thought: if we truly trust our gambling skills, then just like starting a business, we take risks because we believe we’ll succeed in the future. So, what if we’ve proven our strategy works, but we’re only betting small amounts and missing out on bigger opportunities? We might consider borrowing money to fast-track our success. Has anyone ever done that?

I will strongly advise against this if anyone thinking about taking a loan to gamble. It is a 3 Michelin star recipe for disaster . Even in positive EV games where skills matters, one has to refrain from taking any loan to gamble as you will not be able to bear the burden of being responsible for other's money. Your reputation will also vanish after some time which can eventually lead to stress, guilt, and isolation.
Instead, I will suggest you build up your skills in positive EV games and start building your bankroll which will give you an immense amount of confidence and also help you to build your reputation as a profitable gambler/investor.


 

[Russlenat]

They say borrowing money for gambling is bad, but who am I to judge? If someone is willing to take the risk and is responsible enough to manage it, then I guess that’s fine. After all, we’re already risk-takers by gambling, and it just varies in how much risk we’re willing to accept.

However, I must emphasize that risk management is very important. As long as you can effectively manage the risks of both borrowing and gambling, then go for it. I wish success to anyone who decides to try this approach.

[panjul07]

That would be "doubled gambling", but I wont be hypocrite as I have done it before.
One thing to consider when we want to borrow money for gambling is that, we should aware about the risk and we should be responsible or even better that we knew that we will be able to pay the money back even though we lost it all eventually.
That's the most important thing for me if you ask me. As an example, lets say I have a salary of $1000, but it is still long way to go for the payday and I want to gamble a bit.
In this case, I will borrow some money but with good calculation of my salary so if I have to spend (lets say) $650 of my salary to pay my monthly needs, then I will not borrow more than $250 (less than the rest of my remaining salary after I pay all what I have to pay).
This is just to be sure that I will have no problem when I have to repay the money I borrowed.
Of course it is just example when I cant really wait until I get my salary, but it is always better if we do not gamble with loan money.

[uneng]

Gambling isn't like starting a business. It's not an investment, neither a job, so the approach must be completely different. You should only borrow money if you know how you are going to recover that sum of money later to repay the loan. And in gambling, you never know if you are going to win or not, so it's definitely not a safe source of income. More than 90% of gamblers are going to lose, doesn't matter how hard they try to develop their "skills".

Actually, it's a game of luck with a disadvantage for gamblers on every bets they make, so skills play too little on this matter. Skills will only help you to manage your bankroll more efficiently, making it last longer, while avoid harsh losses which drain all your money at once.

[D ltr]

I personally do not dare to borrow money to gamble, because borrowed money does not guarantee that we can win every game, but most people who borrow money will all have bad luck, will lose quickly, unlike if we gamble with money that is not borrowed, playing without emotion will always be relaxed without burden

[avikz]

I am just having this thought: if we truly trust our gambling skills, then just like starting a business, we take risks because we believe we’ll succeed in the future. So, what if we’ve proven our strategy works, but we’re only betting small amounts and missing out on bigger opportunities? We might consider borrowing money to fast-track our success. Has anyone ever done that?

Lol! That's utter stupidity. Because if you are referring to the online casino games, these are purely luck based. So it makes no sense to borrow money just to test your luck! If someone is good at skill based games like Poker or Blackjack etc. then it somehow makes some sense!

I have never been brave enough to borrow money to gamble. The borrowed money needs to paid back so it may bring in unwanted financial pressure. Why to even try that?

[yahoo62278]

At the end of the day, as long as you have the means to pay back a loan, who cares what you use it for. Most people will tell you not to borrow to gamble, and most are correct, but IMO if you can pay back what you borrowed then whatever you need/want the money for is your business.

[Yucky]

Gambling is a game of luck, and I strongly advise against borrowing money to gamble. Imagine risking a huge amount of money on sports games or live events, where anything can happen. Matches can be cancelled due to unforeseen circumstances, and that's how you lose your money.

I wouldn't compare gambling to investment, like buying stocks or investing in a phyiscal product. With investments, you have a chance of succeeding and can put measures in place to mitigate risks. In gambling, you have no control over the outcome, and no one to explain to when you lose your money.

If you still want to try gambling with huge unusual amount, I suggest using your own savings, not borrowed money. This way, if you lose, it would hurt but you won't be in debt. Because over 90% of people who borrow to gamble end up in debt. That's not responsible gambling practice.

Stick to your normal budget for playing games, and if you want to try your luck with a huge amount, use your own money. Don't borrow, because it could go wrong. The mentality of "what if it works" often leads people into trouble.

Always keep in mind that casinos and gambling houses were built to make money. The chances of winning a huge amount are low compared to winning small amounts. Stay woke, and don't talk yourself into irresponsible gambling.

[Oshosondy]

I personally do not dare to borrow money to gamble, because borrowed money does not guarantee that we can win every game, but most people who borrow money will all have bad luck, will lose quickly, unlike if we gamble with money that is not borrowed, playing without emotion will always be relaxed without burden

It is not even about borrowing money to gamble or not to gamble, it is about knowing that gambling is not for making money as most gamblers will continue to lose while gambling. If you gamble with your own money or with borrowed money, the more you are chasing money to earn from gambling the money the risk of losing more money.

[khiholangkang]

I am just having this thought: if we truly trust our gambling skills, then just like starting a business, we take risks because we believe we’ll succeed in the future. So, what if we’ve proven our strategy works, but we’re only betting small amounts and missing out on bigger opportunities? We might consider borrowing money to fast-track our success. Has anyone ever done that?

If you have very good gambling skills and really believe in your abilities, a smart person will not borrow money, who has that kind of thing will definitely use small money first and start with small money until it becomes big without having to borrow, it should be more logical if you have a powerful strategy to conquer gambling right?

It's just not like that my friend, it's just your hallucination in gambling strategy, the fact is losing is bound to happen and even the more you gamble for money the more you will lose, so borrowing money to gamble is one of the actions that will trap you in financial losses, especially the loan service you go to has interest, of course I never did it and I was never that confident in having a strategy in gambling.

[Alphakilo]

They say borrowing money for gambling is bad, but who am I to judge? If someone is willing to take the risk and is responsible enough to manage it, then I guess that’s fine.

Some people already have contingency plans in place should they lose the borrowed money while betting. These people could have borrowed because the money they expected hasn't arrived and they needed to bet at that time due to its urgency.

All of us can't be gambling saints that take the path of low risk. Our risk appetite are on different levels and for these guys it is high and they know how to manage it. I won't do it as I don't trust myself to win.

[Marykeller]

I am just having this thought: if we truly trust our gambling skills, then just like starting a business, we take risks because we believe we’ll succeed in the future. So, what if we’ve proven our strategy works, but we’re only betting small amounts and missing out on bigger opportunities? We might consider borrowing money to fast-track our success. Has anyone ever done that?

There are risks someone would gladly take, whether they win or lose, they will keep on trying believing that one day, their risky approach would pay off. That's not the case with gambling, because the more you risk for a potential win, your account balance keeps declining, pushing you to bankruptcy, if care is not taken.

For someone to think of risking it all in gambling with borrowed money, what will be of them if they lose, how will they be able to cope when what they risked their borrowed money in, which is gambling doesn't pay off as anticipated?

There is nothing as frustrating as borrowing money for something bigger to happen financially, you end up losing it without a dime kobo. It can cause someone depressed. I wouldn't dare or encourage someone to gamble with borrowed money

[Akbarkoe]

I am just having this thought: if we truly trust our gambling skills, then just like starting a business, we take risks because we believe we’ll succeed in the future. So, what if we’ve proven our strategy works, but we’re only betting small amounts and missing out on bigger opportunities? We might consider borrowing money to fast-track our success. Has anyone ever done that?

You know the consequences of the risks when borrowing money so do it, it's actually ridiculous to agree to it, but if I were the person who was loaned money by him, I would not give a loan to a gambler, even if he could afford to pay.

But I agree with what yahoo62278 said with the note “if you can afford to pay the loan back”, but if you can't afford to pay it back, then don't do such a silly thing for a gamble that is even aimed at testing gambling strategies.

[Su-asa]

Borrowing money is a risky move because there are consequences for not paying back but taking a loan to gamble is absolute stupidity even if there's a chance of winning that bet. This is one of the things that has trapped a lot of gamblers, they borrow loans not for the purpose of starting a business or making investive moves but to gamble hoping that they will be able to increase the capital they have. I have taken such risk before but not on a large scale, I ended up regretting my actions. Gambling should be done with the money you have and it should be done responsibly.

[yahoo62278]

I am just having this thought: if we truly trust our gambling skills, then just like starting a business, we take risks because we believe we’ll succeed in the future. So, what if we’ve proven our strategy works, but we’re only betting small amounts and missing out on bigger opportunities? We might consider borrowing money to fast-track our success. Has anyone ever done that?

You know the consequences of the risks when borrowing money so do it, it's actually ridiculous to agree to it, but if I were the person who was loaned money by him, I would not give a loan to a gambler, even if he could afford to pay.

But I agree with what yahoo62278 said with the note “if you can afford to pay the loan back”, but if you can't afford to pay it back, then don't do such a silly thing for a gamble that is even aimed at testing gambling strategies.

Yea my opinion is solely based on the fact that a person can repay the loan. If they don't have the means then they shouldn't be borrowing period.