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

[DYOR+BTC]

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.

[TechGr8]

I know a lot of post has been made in this gambling board and I don't know if such has been created, but what I want to say is a situation that happened to a close friend

My friend is a gambler, a serious one for that matter. Some days ago he asked me to borrow him money to gamble and I told him not to borrow money to gamble but gamble with what he can afford to lose but he refused. Instead he went ahead to borrow from another person to pay back with interest, gues what?
He loss the game and now he is owing Capital and interest together that will surely be paid now he keeps blaming me that If I had given the loan to him, that he would have just owe me the capital without interest.

>>>>Now the question remain that Is it good to take loan to gamble?

>>>>Or is there some game that worth risking to an extent of taken loan?

I recently experienced same with a friend of mine too. I saw His desperation and literally pleaded and begged Him not to take the move but he forged ahead and now He’s a shadow of Himself because, He can barely feed Himself and has lost his landed properties to the Lender because, He may not be able to clear His debts anymore.

Things that can wait could’ve waited for things that can’t wait… I wish He had integrity with People’s Money, He would’ve understood Me When I said You can’t bet with People’s money… You can express Your financial intelligence or the lack of it with Your own funds when You have the streams of income to take it but going the extra miles to borrow funds is overboard.

[Altryist]

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 friend was lucky, but that doesn't mean everyone will be so lucky. Recently, there was a story discussed here about a man who took money from a business to make a similar bet and, unfortunately, lost. It was a large sum, and it caused a lot of problems for the business. There's also the risk that your friend will like it and want to do it again, betting everything on another bet they dreamed up, but things could end differently.

[Sonia_123]

I know a lot of post has been made in this gambling board and I don't know if such has been created, but what I want to say is a situation that happened to a close friend

My friend is a gambler, a serious one for that matter. Some days ago he asked me to borrow him money to gamble and I told him not to borrow money to gamble but gamble with what he can afford to lose but he refused. Instead he went ahead to borrow from another person to pay back with interest, gues what?
He loss the game and now he is owing Capital and interest together that will surely be paid now he keeps blaming me that If I had given the loan to him, that he would have just owe me the capital without interest.

>>>>Now the question remain that Is it good to take loan to gamble?

>>>>Or is there some game that worth risking to an extent of taken loan?

Indeed it is very risky, you just have to avoid it because you will keep sinking in debt and before you know it you become addicted because of the trauma of wanting to win and repay the debts being invited because of gambling, taking a loan is not the best option, instead you gamble with what you have and can afford to lose not going extra miles to bondage yourself because you want to make it big whereas you are losing everything you have.

[Orpichukwu]

Taking a loan out for short-lasting entertainment is a really dumb idea unless you no longer care about your life and family. And most lenders would be quite wary to lend you any amount of money if you were to actually admit to them that you are using the money to gamble.

It sounds like your friend may have a problem and should seek help.

Every scenario I’ve seen or heard where gamblers resort to acquiring loans just to gamble, either after exhausting their budget or wanting to really gamble but don’t have any money at that moment, just didn't end well. And the craziest part is that those who do this see absolutely nothing wrong with it, they just see it like part of the fun, but just like you rightly said, it’s just really dumb to see nothing wrong with taking out loans just to have fun.

[Localhostspeed]

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.

What if it's now the other way round, he took loan and use the money to gamble only to see that the predictions are not true that means you are now on debt. What will be ringing on your mind is how to get back that money. You that doesn't have money will now be struggling on how to make up for another debt. This is why it's advisable for people with nothing to gamble on loan, I believe that if you don't gamble there is absolutely nothing that is going to happen to you.

Some people gamble because of opportunities instead of gambling because of what they can do. If I have a series of matches that are yet to be played and I have interest on them. Before I put money into, I make sure I do my findings first, some of these things are going to save you by  the time you nothing is there and not a borrow funds will save you even more.

[blockman]

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.

I thought that this is another tragic and sad story that a guy lost his entire life savings because of betting it with an all-in. That's not going to happen with other gamblers and it only makes few gamblers win with that much by having that savings that he's got to put in one bet. I am not going to do that. Maybe a couple of days hard work will I put into any bet that I am assured of. But never in my life time that I'll try to risk it all, these people are made different and have got the balls. I also got mine but not as hard as theirs. Congratulations to your friend.

[nelson4lov]

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.

In that instance, your friend was just lucky. Hopefully he doesn't do it again because he might not be lucky everyday or his luck might've ran out. Taking loans to gamble is a dangerous affair. Imo, if he told the creditors that the loan was meant for gambling, do you think they would've given it to him? Especially since gambling in itself is not a guaranteed event and things might go bad or good depending on several factors. Anyway, I'm glad for your friend but he should push his luck too much as the number rule of gambling says:

Never bet more than you can afford to lose.

[trendcoin]

There’s literally nothing worse you can do financially then take a loan to gamble. Thats like lighting money on fire to stay warm in the desert in the middle of the day.

If you take a loan to buy a house and reinvest in it to resell for more that might be considered a gamble and borrowing technically

Your comparison is eye-opening. Gambling is an activity done for entertainment, and statistically, the number of losers is very high. A home is a necessity. Even in hunter-gatherer times, people made efforts to meet their shelter needs. So, while borrowing money to gamble is very foolish, borrowing money for a home is very sensible. Also, I would like to add that, in my observation, people who borrow money to gamble are the ones who have trouble paying back their debts. I think this is a much greater danger than losing at gambling. I would rather lose at gambling in such a situation... :)

[ejikeme24]

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.

At what time are we going to stop believing on dream games?

Because I have seen a lot of folks saying that dream games are always sure, therefore they are going to increase their stake since it seems sure. There's this saying that if you're hoping to drink beer then you're likely to drink beer in your dream, this is just a perfect example of those that keeps dreaming about where they show them games in the dream because it is assume that they have been hoping to dream about that or thinking about gambling, I'm sure you know the feeling when you're bothered about something instead of trying to figure it out you decided to sleep over it, I'm sure that you will definitely dream about where you have the whole issues figured out because  your mind is not at rest before you slept off. so that's the same thing as dream games so we shouldn't deceive ourselves.

[GiftedMAN]

Every scenario I’ve seen or heard where gamblers resort to acquiring loans just to gamble, either after exhausting their budget or wanting to really gamble but don’t have any money at that moment, just didn't end well. And the craziest part is that those who do this see absolutely nothing wrong with it, they just see it like part of the fun, but just like you rightly said, it’s just really dumb to see nothing wrong with taking out loans just to have fun.

Addicted gamblers are those who are fond of taking loans to gamble and they do not consider it as wrongs, they do not care if they will lose or win all they just want to do is to ensure they keep gambling until they exhaust all they have in gambling some may even result in selling off their properties to raise money to gamble while some will use their properties as collateral so that when they can't pay back the amount they borrowed the property will now belong to the person they took loan from. Addicted gamblers are dumb they do not care what they do with money so long as they satisfy their urge which is gambling.

[laijsica]

Every scenario I’ve seen or heard where gamblers resort to acquiring loans just to gamble, either after exhausting their budget or wanting to really gamble but don’t have any money at that moment, just didn't end well. And the craziest part is that those who do this see absolutely nothing wrong with it, they just see it like part of the fun, but just like you rightly said, it’s just really dumb to see nothing wrong with taking out loans just to have fun.

Addicted gamblers are those who are fond of taking loans to gamble and they do not consider it as wrongs, they do not care if they will lose or win all they just want to do is to ensure they keep gambling until they exhaust all they have in gambling some may even result in selling off their properties to raise money to gamble while some will use their properties as collateral so that when they can't pay back the amount they borrowed the property will now belong to the person they took loan from. Addicted gamblers are dumb they do not care what they do with money so long as they satisfy their urge which is gambling.

The lure of high profits from gambling blinds their eyes because they think that they will soon win a huge amount of money and become rich. I have known a gambler who has sold almost all the property given to him by his father and gambled but he still could not give it up. He was asked if there was any solution to this but he was firm in his decision and still believes that one day he will win a big.

The gambling platform is tarnished by these addicted gamblers because they do not gamble in a controlled manner themselves and they lure others to gamble. Not all addicted gamblers get loans only gamblers who have real assets can get loans. As a result of the foolish decisions of the addicts, not only he himself suffers but also the family members involved equally.

[iBaba]

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.

I'm just imagining if it had not worked out, the result could have been very serious, just imagine losing a whole year of savings plus loan money would likely mean deeper debt and stress and pressure to gamble again in order to recover. What happened to your friend is an exception not a rule and gambling is unpredictable in nature so one has to be very careful with dealing with it financially else you will end in serious regrets.

~~~

Your friend was lucky, but that doesn't mean everyone will be so lucky. Recently, there was a story discussed here about a man who took money from a business to make a similar bet and, unfortunately, lost. It was a large sum, and it caused a lot of problems for the business. There's also the risk that your friend will like it and want to do it again, betting everything on another bet they dreamed up, but things could end differently.

Honestly speaking his friend was very lucky but luck is not something anyone serious can depend on and that is the real problem here, one successful outcome does not change the nature of gambling. We have also heard of situations where someone took business money for a similar sure bet and lost everything and put the livelihood of others in risk because one single decision can destroy years of your efforts and that of others around you.

[DaNNy001]

Every scenario I’ve seen or heard where gamblers resort to acquiring loans just to gamble, either after exhausting their budget or wanting to really gamble but don’t have any money at that moment, just didn't end well. And the craziest part is that those who do this see absolutely nothing wrong with it, they just see it like part of the fun, but just like you rightly said, it’s just really dumb to see nothing wrong with taking out loans just to have fun.

Addicted gamblers are those who are fond of taking loans to gamble and they do not consider it as wrongs, they do not care if they will lose or win all they just want to do is to ensure they keep gambling until they exhaust all they have in gambling some may even result in selling off their properties to raise money to gamble while some will use their properties as collateral so that when they can't pay back the amount they borrowed the property will now belong to the person they took loan from. Addicted gamblers are dumb they do not care what they do with money so long as they satisfy their urge which is gambling.

Just like you said, addicted gamblers would do anything to make sure that they keep funding their gambling activities not minding whether it is going to cause more damage to them. they are kind of brain dead because they no longer feel affected by what they are doing even though it is wrong...taking loans to gamble is the highest level of addiction and a display of lack of self control

[Orpichukwu]

Addicted gamblers are those who are fond of taking loans to gamble and they do not consider it as wrongs, they do not care if they will lose or win all they just want to do is to ensure they keep gambling until they exhaust all they have in gambling some may even result in selling off their properties to raise money to gamble while some will use their properties as collateral so that when they can't pay back the amount they borrowed the property will now belong to the person they took loan from. Addicted gamblers are dumb they do not care what they do with money so long as they satisfy their urge which is gambling.

When addiction gets to that level where the person no longer cares about selling their property or doing whatever possible just to get their hands on money to use and gamble, they need serious help, and those around them should take note of it and not give them a loan or even buy their properties from them because if they no longer have what to use as collateral or sell, stealing might become the next option for them.

[STT]

High risk, high reward & high cost when or if you lose.  If you borrow, win then repay and never do it again who could say its a bad thing.
  The problem is when you win you will then feel you did the right actions to lead to that success, the probability that on average a loss occurs far more then you can afford or self correct wont be an event on your radar.
  The whole premise is a setup for a self destruct unfortunately, even if you win at first.  Its just human nature unfortunately, but good thing you already realize all this before you even start right!

[AmoreJaz]

High risk, high reward high cost when or if you lose.  If you borrow, win then repay and never do it again who could say its a bad thing.  The problem is when you win you will then feel you did the right actions to lead to that success, the probability that on average will lose far more then you can afford wont be on your radar.  The whole premise is a setup for a self destruct unfortunately, even if you win at first.  Its just human nature unfortunately, but good thing you already realize all this before you even start right!

But the worst can happen, do remember this is gambling and losing is inevitable. Hence, how can you repay if you lost the bet? So for me, it should not be your option - to take a loan just to gamble. I can agree if you will use the loaned money for business or other tangible assets. But for gambling, I don't think that's a very smart idea to take.
You will just put your situation in a very delicate one where you would not want to. So before your regret with your decision, better not to traverse this path - taking a loan to gamble and wish you will win with your bets.

[Mayor of ogba]

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 friend was lucky enough that the game he took a loan for played the way he predicted, and he won his bet. You have to advise your friend very well so that he won't take such a risk next time because it may not work out for him the way he expects. Gambling is a game of luck, and there's nothing like sure odds, so we shouldn't take a loan to finance our gambling activities. Any day we don't have money to gamble, we should just take a break from gambling and wait for the day we will have money to gamble.

[Fuso.hp]

I am very afraid of debt, I do not think about borrowing money from others unless I am in great danger and if I ever borrow a small amount of money and then I have such a thought that when will I be able to pay it back again. Where loans seem so burdensome to me, there is no question of gambling on loans. If I ask a gambler who gambles on loans why he is actually gambling on loans, he will not be able to show a reason behind it because a normal thinking person will never gamble at least on loans. There is no guarantee of the outcome of gambling, now a gambler gambles on loans and loses money, then how will he repay the loan later? If the loan is not repaid on time, there will be a physical conflict between the two parties, due to which the person who gambles on loans may get into more danger later, so we should always stay away from these.

[Fredomago]

High risk, high reward high cost when or if you lose.  If you borrow, win then repay and never do it again who could say its a bad thing.  The problem is when you win you will then feel you did the right actions to lead to that success, the probability that on average will lose far more then you can afford wont be on your radar.  The whole premise is a setup for a self destruct unfortunately, even if you win at first.  Its just human nature unfortunately, but good thing you already realize all this before you even start right!

But the worst can happen, do remember this is gambling and losing is inevitable. Hence, how can you repay if you lost the bet? So for me, it should not be your option - to take a loan just to gamble. I can agree if you will use the loaned money for business or other tangible assets. But for gambling, I don't think that's a very smart idea to take.

Yup, knowing that there's no guarantee even how good your analysis and how well you understand the game, there's no assurance that you'll going to win, risk is high when it comes to gambling and similar to what you said, loan money must be use to other important things instead of using it for your gambling activities, remember that loan money needs to be repay.

It will be an additional problem if bad things happened and you lose all your loan money, repayment is the next thing that you need to settle, it's going to become a big issue if you don't have enough resources to earned for the repayment.