Taken loan to gamble is very risky, what do you think?

[centrum]

A friend of mine took a loan what of his one year savings to stake a game he was very sure of because it was  shown to him in his dreams as stated by him, after staking it came out as predicted and now he has gained financial stability and have even cleared all the debts he was owning before then. Yes it turned perfectly well for him, what if it did not work out as planned what do you think would happen to him. From my own perspective, i see gambling as a unpredictable occurrence who's outcome can never be fully predicted except luck plays a vital role in it, although some people don't agree to that but that is what i think about gambling.

your perspective is very realistic and logical. in your friend’s case the outcome turned out to be positive but that does not mean it was the right decision for everyone. taking a loan equal to one year’s savings and gambling with it was an extremely risky step. if the result had gone against him he could have fallen into serious financial trouble his mental stress could have increased and the burden of long term debt could have devastated him. the main problem with gambling is that its outcome is never certain. dreams beliefs or confidence provide no scientific guarantee. here luck plays the biggest role while the scope for skill or planning is very limited. when someone wins it is seen as success but when they lose the consequences can be disastrous. therefore viewing gambling as an uncertain and risky activity like you do is a far more mature and responsible perspective which is safer for long term personal and financial stability.

[masulum]

Even though you have a winning streak, it isn't advisable for one to  take a loan to gamble. What if you lose it all. Remember, it's a loan. It has interest. So if you lose it all, then you keep running up and down to pay for the borrowed money and the interest. Anyone that does this should  take himself has a gambling addict.

That's right, there basically no basis or reason to borrow money to gamble. While someone might think they can repay it soon, they may never know what their financial future will be like. Will it improve or not? Even if someone don't gamble, they can still be in a low position, what about gamblers? Please be careful, your finances can be chaotic. I experienced financial turmoil and haven't recovered yet. While in the past from sigcam become my savings, now I use it for necessities. i getting trapped this position after using sigcam payment for betting and lose my job. this is really hard, hopefully someone not thinking about borrowing money for gambling. luck maybe come one or two times, but when the bad come it can be more worst than expected.

[Cointxz]

Well, i will say transparency does not automatically make a decision responsible. Someone being honest about borrowing to gamble only clarifies the risk but it does not reduce it, you might not get your money back. Lending money for an activity with a known chance of loss is not even wise just because repayment is promised. you are not obligated to fund choices you would not make yourself, and declining is not 'evil,' or something it is just boundaries you are setting, which is good. But if you must give the loan out, remember the responsibility lies on both sides, the borrower for the risk they are taking, and the lender for the risk they are enabling.

Yes, I agree that this can only be interpreted as an increase in risk, and a very significant one. Losing is almost inevitable, it happens far more often than winning. On top of that, a player might win, but the multiplier may be too small to cover the loan and their needs, which can push them back into the game after that win and lead to even bigger losses than before. The outcome is extremely unpredictable, and relying on a minimal chance of winning seems very poorly thought out to me.

I do this a lot in the past which resulted to some random win and losses results but more on losses due to the interest for the loan amount.

I decided to stop taking loans for gambling purposes to practice self control on when should I gamble.

Based on experience, it’s an unpleasant experience taking loan and lose it on the casino since you will have extra losses occur from the interest rate of the loan which is not worth it.

[Cryptmuster]

That's right, there basically no basis or reason to borrow money to gamble. While someone might think they can repay it soon, they may never know what their financial future will be like. Will it improve or not? Even if someone don't gamble, they can still be in a low position, what about gamblers? Please be careful, your finances can be chaotic. I experienced financial turmoil and haven't recovered yet. While in the past from sigcam become my savings, now I use it for necessities. i getting trapped this position after using sigcam payment for betting and lose my job. this is really hard, hopefully someone not thinking about borrowing money for gambling. luck maybe come one or two times, but when the bad come it can be more worst than expected.

I’m against debts, even though I know that debts can be good or bad, but I’m sure this doesn’t apply to gambling. I don’t know what people expect when they think they can take a loan, place a bet, double it, and then pay back the loan. The plan is so bad that I would never even consider it. Moreover, I wouldn’t even risk taking a loan for gambling for my strategy, which could be profitable, because I know that a loan is an additional pressure, that would interfere with my decision-making.

[rezakurnia66]

Gambling is enough with money that is ready to lose not because there is no money and then take out a loan then it is not smart, while business loans are not a problem, many companies out there take out loans to increase expansion because they already know the benefits so obviously it can cover the cost of the loan every month.
Those who take loans for gambling, that person is already addicted badly maybe there is no way to get money other than loans.

Right, for the gambling use the money that is ready to lose and not push take the loan for using in the gambling, I think gambling not promising yet with the profit or bigger opportunity with the winning ratio better stop use the loan for gambling. I can't imagine with many gambler brave get loan for gambling and not care yet how repaying later if possibility get loss, not only paying debt but also must pay the loan interest.
If still hasn't much money or not ready to loss never get risk loan to gambling, too risk less percentage the gambler easily to win and what happening later all loan money use to gambling but get loss?

[Tmoonz]

A friend of mine took a loan what of his one year savings to stake a game he was very sure of because it was  shown to him in his dreams as stated by him, after staking it came out as predicted and now he has gained financial stability and have even cleared all the debts he was owning before then. Yes it turned perfectly well for him, what if it did not work out as planned what do you think would happen to him. From my own perspective, i see gambling as a unpredictable occurrence who's outcome can never be fully predicted except luck plays a vital role in it, although some people don't agree to that but that is what i think about gambling.

your perspective is very realistic and logical. in your friend’s case the outcome turned out to be positive but that does not mean it was the right decision for everyone. taking a loan equal to one year’s savings and gambling with it was an extremely risky step. if the result had gone against him he could have fallen into serious financial trouble his mental stress could have increased and the burden of long term debt could have devastated him. the main problem with gambling is that its outcome is never certain. dreams beliefs or confidence provide no scientific guarantee. here luck plays the biggest role while the scope for skill or planning is very limited. when someone wins it is seen as success but when they lose the consequences can be disastrous. therefore viewing gambling as an uncertain and risky activity like you do is a far more mature and responsible perspective which is safer for long term personal and financial stability.

Life is actually all about risk as life itself is still somehow risk, so going that extra mile is quite daring but to my own opinion that is the most foolish thing to do, as that is the madest thing to ever try, I think there are risks worth taking and there are risks you shouldn't even put to consideration, what if that game didn't play what could have been his Faith at last hmm that is the dumbest thing to have been done, it might work out for him that moment he might not be lucky next time so he should never try such again, because gambling does not guarantee you a 50/50 win the possibilities of losing is far more than the possibility of winning so he should be warned.

[bakasabo]

Even though everyone understand that taking a loan for gambling is risky, what about desperate situations? I remember recently reading about guy who gambled with his last money to earn and pay for his mother treatment, and he was lucky to succeed. But what if had lost. Let suppose you were him and lost. Will you take loan to risk again and hope to win enough to save your mother or not?

[devlin85]

Taking out loans on their own seems like a bad idea to me, but taking them out to gamble is even worse. It is one of the worst and most dangerous financial decisions anyone can make, and it almost always ends badly, mainly because the loan changes your reasoning subconsciously. When you gamble with your own money, you can afford to lose, but when it comes to borrowed money, you are playing against time and pressure. It is no longer a simple game of chance. How desperate can a person be to use a loan to gamble?

[Mr_Brilliant$]

There are some things they shouldn’t be advising of talking to people about again, and a topic like that is this… Because I don’t know why with all the stories we keep hearing about how taking loan to gambling and even using someone’s money has ruined people’s life, and someone would still go and take a loan to gambling..
Things like this hardly or never turns out to be positive, so it is not something anybody should try or even think of doing at all..

[eisen33]

Even though everyone understand that taking a loan for gambling is risky, what about desperate situations? I remember recently reading about guy who gambled with his last money to earn and pay for his mother treatment, and he was lucky to succeed. But what if had lost. Let suppose you were him and lost. Will you take loan to risk again and hope to win enough to save your mother or not?

Do we really have the right to take risks when it comes to our loved ones? I think that first of all it would have been necessary to borrow money for the treatment of his mother and only after that think about how to repay the debt. Risking that money would have been reckless. That person was lucky to win, but if he had lost, he would have needed even more money.

[Muba20]

Taking out loans on their own seems like a bad idea to me, but taking them out to gamble is even worse. It is one of the worst and most dangerous financial decisions anyone can make, and it almost always ends badly, mainly because the loan changes your reasoning subconsciously. When you gamble with your own money, you can afford to lose, but when it comes to borrowed money, you are playing against time and pressure. It is no longer a simple game of chance. How desperate can a person be to use a loan to gamble?

At this age, many people depend on loans for financial assistance. If someone shows proper skills in taking and giving loans, then a loan can be taken. Generally, after taking this loan, the money should be used for such a purpose that can bring returns and a person can benefit financially later. Nowadays, people also take loans for the purchase of permanent property or any big thing within their limits.

Taking loans should be completely ignored in the case of gambling. If the gambler does not have his own money, then he will increase his liability by taking loans which will have a serious impact on his personal life. In gambling, winning is not guaranteed, in that case, if he loses the loan, it will be difficult for the gambler to repay it. Therefore, even if any other work can be done with loans, it should be completely avoided in the case of gambling.

[Juicyhome]

No smart personal will take loan to play gambling, it's a stupid thing to do, instead borrow to eat, not to borrow to play a game you're not sure of the outcome. Loan should be taken for investment and for emergency not for gambling, gamble with what you have and deal with any outcome. Taking a loan is like putting yourself under high pressure and if you lose the bet you might not recover from the sock.

If the betting sites will give loan I'll advise you take, but they will not provide such services because no one will refund the loan, so anything the bet sites can't offer don't use it, they offers bonus that to say, you should use your bonus or gain to bet and not your capital.

[OgNasty]

It would be fairly difficult to come up with a more irresponsible thing to do financially than gamble with borrowed money. It is a near certainty that it will not work out well for the borrower, or the lender for that matter.

[Bigjoe33]

I will say it over and over again, that such action, according to the title of the topic is the most foolish thing some one will do. No matter the assurance you have that it will play, no matter the instincts or feelings, no matter how sure you feel, I even doubt if there is any sure bet, there should be no reason whatsoever that someone should borrow money to bet, because bet or gambling has no assurance, and is 100% by chance or luck, it can fail and you cry.

The worst part is that you start looking for ways to repay your debt while bet companies keep making more money. Some to think of it, if you lost other games that you placed with your money, what gives you the assurance that you will win this one that you borrowed to bet? We must think twice and be wise...

[Z_MBFM]

Even though everyone understand that taking a loan for gambling is risky, what about desperate situations? I remember recently reading about guy who gambled with his last money to earn and pay for his mother treatment, and he was lucky to succeed. But what if had lost. Let suppose you were him and lost. Will you take loan to risk again and hope to win enough to save your mother or not?

Do we really have the right to take risks when it comes to our loved ones? I think that first of all it would have been necessary to borrow money for the treatment of his mother and only after that think about how to repay the debt. Risking that money would have been reckless. That person was lucky to win, but if he had lost, he would have needed even more money.

Anyone who thinks that if he loses the loan money, how will he repay it, then he will never be interested in taking a loan. Because no one can win with a guarantee in gambling, so if someone gambles with confidence by borrowing money, he will make a serious mistake. One should never take financial advice about gambling because gambling does not guarantee anyone winning. Where the risk of one's own money is much higher, how serious the risk of borrowing money from others can be, all gamblers should be careful about this.

[DaNNy001]

It would be fairly difficult to come up with a more irresponsible thing to do financially than gamble with borrowed money. It is a near certainty that it will not work out well for the borrower, or the lender for that matter.

if money lenders found out that the person they are borrowing money to is going to gamble with it I'm sure that they wouldn't give out moeny to them because they know such people find it difficult to pay back loans that they take...Borrowing money to gamble shows a sign of gambling addiction and it actually indicates that the gambler is getting out of control, it is indeed syndrome

[Yablee0]

Some friends will consider you a bad person for not lending them that money; it will be as if you have deprived them of what they could have won. They will not see it the other way, that you just saved them from paying back debt they didn't use for something worthy of it, and in some cases, where the person is not open about what they want to do with the money, they might end up taking the loan, and when they lose it, paying it back will be very difficult. Money issues have separated many friends in terms of giving each other loans.

If someone wants to borrow money to gamble it is left for you to decide if you want to give them or not so long as they will pay back, a gambler there opens up to tell you that he needs the loan to gamble is sincere and there's nothing wrong if you lean him the money since he will pay back but if you want to think about saving them from paying back the loan should they lose the bet, you will be seen as an evil person so it is better you give them regardless of what they what to do with it.

Any thing that makes me notice that the requested loan is for gamble that simply means it will never work, I wouldn't give it to you because it will end up bringing issues between pairs if care isn't taking. Loan are needed for tangible business deal that you're ensure of something profitable not stuff like gambling that is success is built on luck.

Moreover, money are very rare to find this days so If you got some with you it's better throwing it on something meaningful instead of given it out to some lazy folks that wouldn't mind hoting you when it's due for you to start demanding back your loan.

[Fredomago]

Even though everyone understand that taking a loan for gambling is risky, what about desperate situations? I remember recently reading about guy who gambled with his last money to earn and pay for his mother treatment, and he was lucky to succeed. But what if had lost. Let suppose you were him and lost. Will you take loan to risk again and hope to win enough to save your mother or not?

Do we really have the right to take risks when it comes to our loved ones? I think that first of all it would have been necessary to borrow money for the treatment of his mother and only after that think about how to repay the debt. Risking that money would have been reckless. That person was lucky to win, but if he had lost, he would have needed even more money.

Anyone who thinks that if he loses the loan money, how will he repay it, then he will never be interested in taking a loan. Because no one can win with a guarantee in gambling, so if someone gambles with confidence by borrowing money, he will make a serious mistake. One should never take financial advice about gambling because gambling does not guarantee anyone winning. Where the risk of one's own money is much higher, how serious the risk of borrowing money from others can be, all gamblers should be careful about this.

Good point, it's serious matter that you need to have a resposnible decision making when thinking about loaning an amount and use it for your gambling, most of those who failed to recognize the big risk regret their decision after suffering from a big loss, and since it was a loan amount they need to repay and if they don't have that resources they will have a big adjustment to make to cover the amount and for sure there are struggles while trying to cope in paying that loan amount.

[macson]

It is better not to gamble than to gamble using money obtained from loans, since the impact of gambling with borrowed money can be quite serious. In gambling the chances of winning are not very high, especially if they use the money to play slots or any other game that relies on luck- when they put their money down, the chances of them losing are quite high.

If they use borrowed money and lose, they will need to repay the loan and will likely borrow from elsewhere to cover the loss, and so on, which will ultimately make their lives difficult.

Many people experience hardship in their lives because they gamble with borrowed money. In fact, quite a few end up in the hands of loan sharks. It's not worth it to suffer just for this.

[masulum]

I’m against debts, even though I know that debts can be good or bad, but I’m sure this doesn’t apply to gambling. I don’t know what people expect when they think they can take a loan, place a bet, double it, and then pay back the loan. The plan is so bad that I would never even consider it. Moreover, I wouldn’t even risk taking a loan for gambling for my strategy, which could be profitable, because I know that a loan is an additional pressure, that would interfere with my decision-making.

the plan was vary but as you mention, mostly will set the plan take a loan, double it, take back money from the latest losses, pay the loan. did you know, if you found addicted gambler, the cycle can be more longer, take a loan - losses - take another loan, chase the losses, take another loan - pay back if win even only able to pay one from total losses. such unbelievable but it can be found in real life. someone take more loan in a day just because he want to get back all of money losses from previous loss.