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

[nara1892]

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.

Exactly, that's why there are so many gamblers who end up in debt, the reason is because they do not consider in advance from various sides related to the decision to borrow that they will do, in the end when the results lose then they will have a headache thinking about various ways to pay the debt.
This scenario is experienced by many gamblers, especially those who are addicted, even honestly I myself have experienced it when I was still addicted, every month-end salary is always used up just to pay gambling debts, so it is true as you say that responsibility in making decisions is very important.

[Jody.Drummer]

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.

Yes, it seems that we all tend to do this when we are familiar with gambling. I myself sometimes like to borrow money from my coworkers when I am addicted to gambling. This happens because there is a desire to win, rather than to win in order to improve the situation, but instead it makes the situation worse. I decided to take out a loan for gambling when I was no longer gambling to chase wins, now I do it just for fun. The additional loss is real because with gambling, which is uncertain, you might win, but if you do it with borrowed money and end up losing, the loss is doubled that’s a really bad situation.

[Mr_Brilliant$]

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.

Exactly, gambling is and  has no guarantees, so using borrowed money will always be a bad decision before you even start..  Once it is a loan, the pressure to repay will not disappear just because you feel confident..
And that pressure self can leads to poor choices and you will now be chasing losses. Gambling should only be played with money you can afford to lose, not money that belongs to someone else.

[MisFoxie]

Borrowing money for gamble is always not a good idea. Even if your friend doesn't have to pay interest it still a risk he can't take. Gambling is full of risk on top of getting loan for it. When someone gambling with a money he can't make a loss the gamble stop being entertainment and become problem. If you give loan to your friend and he lose it all you're not responsible for it, But but problem wouldn't be solved because he can't pay you back so there maybe some argument between your friend. That's why I suggest to never give loan to your friend when they ask money for gambling.

[Tungbulu]

Exactly, gambling is and  has no guarantees, so using borrowed money will always be a bad decision before you even start..  Once it is a loan, the pressure to repay will not disappear just because you feel confident..
And that pressure self can leads to poor choices and you will now be chasing losses. Gambling should only be played with money you can afford to lose, not money that belongs to someone else.

Borrowing money to do something means that that thing is a necessity and needs to be done by all means. And like we know, that’s not what gambling is, it’s not a matter of urgency that should be done immediately and should incase you feel like gambling but don’t have the money to do so at the moment, then it’s better to just leave and come back when you have spare money to do so and not to resort to taking of loan to gamble by all means, that just shows the highest level of gambling addiction.

[Etranger]

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.

If you at least have the ability to repay these loans, then the situation is not that bad. Of course, it is an additional financial burden, but it is something you can realistically manage if you organize your finances and have a regular source of income.

The real problems begin when there is no way to service the loan at all. Then the debt only keeps growing every day, and the false hope of solving the problem through a lucky casino win increases.

[Shinpako09]

Exactly, gambling is and  has no guarantees, so using borrowed money will always be a bad decision before you even start..  Once it is a loan, the pressure to repay will not disappear just because you feel confident..
And that pressure self can leads to poor choices and you will now be chasing losses. Gambling should only be played with money you can afford to lose, not money that belongs to someone else.

Borrowing money to do something means that that thing is a necessity and needs to be done by all means. And like we know, that’s not what gambling is, it’s not a matter of urgency that should be done immediately and should incase you feel like gambling but don’t have the money to do so at the moment, then it’s better to just leave and come back when you have spare money to do so and not to resort to taking of loan to gamble by all means, that just shows the highest level of gambling addiction.

On point. It’s pure foolishness to take a loan just to fulfill or satisfy your addiction, greed, or desire. Gambling shouldn’t be on the priority list. Only gamble if you have spare money and time. If not, control yourself until you have both money and time. You’re only making your addiction worse by taking a loan. If you can’t win with your own money, what makes you think you can win with a loan? A last resort? There’s a chance, but it’s also the worst idea because it’s very hard to win.

[Tungbulu]

On point. It’s pure foolishness to take a loan just to fulfill or satisfy your addiction, greed, or desire. Gambling shouldn’t be on the priority list. Only gamble if you have spare money and time. If not, control yourself until you have both money and time. You’re only making your addiction worse by taking a loan. If you can’t win with your own money, what makes you think you can win with a loan? A last resort? There’s a chance, but it’s also the worst idea because it’s very hard to win.

Any gambler who starts to notice that they can’t always control their urge to gamble, even when there’s no money  should take a moment to reflect on yourself, because that’s the perfect time to take a step back, the reason why people often land themselves in terrible addictions is usually because they observed these cues and chose to ignore them because they felt it’s just part of the game, which is the worst misconception anyone can ever have about gambling.

[eisen33]

On point. It’s pure foolishness to take a loan just to fulfill or satisfy your addiction, greed, or desire. Gambling shouldn’t be on the priority list. Only gamble if you have spare money and time. If not, control yourself until you have both money and time. You’re only making your addiction worse by taking a loan. If you can’t win with your own money, what makes you think you can win with a loan? A last resort? There’s a chance, but it’s also the worst idea because it’s very hard to win.

Any gambler who starts to notice that they can’t always control their urge to gamble, even when there’s no money  should take a moment to reflect on yourself, because that’s the perfect time to take a step back, the reason why people often land themselves in terrible addictions is usually because they observed these cues and chose to ignore them because they felt it’s just part of the game, which is the worst misconception anyone can ever have about gambling.

Even if you're unable to control your gambling, it's not as dangerous when you're able to rely solely on your bankroll. But if you start going into debt for gambling, that's a clear sign you need outside help. It seems obvious to me that if you've lost everything you had and are now looking for borrowed money to continue gambling, you'll lose that money too. But when someone is obsessed with winning back their losses, they may not realize this and need outside help.

[Tungbulu]

Even if you're unable to control your gambling, it's not as dangerous when you're able to rely solely on your bankroll. But if you start going into debt for gambling, that's a clear sign you need outside help. It seems obvious to me that if you've lost everything you had and are now looking for borrowed money to continue gambling, you'll lose that money too. But when someone is obsessed with winning back their losses, they may not realize this and need outside help.

The mindset of loss chasing is essentially the most dangerous mindset any gambler can ever have because what this mindset does is to override logic and when gamblers suddenly can’t think logically when gambling, it ceases to be a form of entertainment and presence of probability completely disappears  as emotion and desperation completely takes over at this point. And this is why it’s always important to get external help when they feel trapped in that loop of addiction, because they’re already incapacitated and helping themselves is almost impossible.

[Agbe]

Any gambler who starts to notice that they can’t always control their urge to gamble, even when there’s no money  should take a moment to reflect on yourself, because that’s the perfect time to take a step back, the reason why people often land themselves in terrible addictions is usually because they observed these cues and chose to ignore them because they felt it’s just part of the game, which is the worst misconception anyone can ever have about gambling.

I think you have said correctly. A gambler is eager to gamble when there is no money in his hand. Ahh! That is something else and he need deliverance. At that point, many things happens to the gambler. He takes loan from people to satisfy his gambling huge. And also play games on loan in the casino center and selling things to play gamble. And if the person like to stop all that, he has to look himself to know if he is progressing in life or not. He has to stop it.

[hedgeh0g]

Any gambler who starts to notice that they can’t always control their urge to gamble, even when there’s no money  should take a moment to reflect on yourself, because that’s the perfect time to take a step back, the reason why people often land themselves in terrible addictions is usually because they observed these cues and chose to ignore them because they felt it’s just part of the game, which is the worst misconception anyone can ever have about gambling.

I think you have said correctly. A gambler is eager to gamble when there is no money in his hand. Ahh! That is something else and he need deliverance. At that point, many things happens to the gambler. He takes loan from people to satisfy his gambling huge. And also play games on loan in the casino center and selling things to play gamble. And if the person like to stop all that, he has to look himself to know if he is progressing in life or not. He has to stop it.

Sometimes a player simply goes crazy because he needs money or the game itself, this is especially acute if he is trying to win back. I had something similar in my life and then I simply didn’t feel the ground under my feet and it was as if I didn’t feel like myself, I wanted to bet a lot, even take out a loan just so as not to feel resentment for losing. I miraculously avoided huge debts and do not want to repeat this sad experience. I was even scared when I turned off the game, because I didn’t expect that I was capable of this, but now with this experience I understand those players who run to take out a loan at any cost and don’t even look at the interest.

[SuperBitMan]

Even if you're unable to control your gambling, it's not as dangerous when you're able to rely solely on your bankroll. But if you start going into debt for gambling, that's a clear sign you need outside help. It seems obvious to me that if you've lost everything you had and are now looking for borrowed money to continue gambling, you'll lose that money too. But when someone is obsessed with winning back their losses, they may not realize this and need outside help.

The mindset of loss chasing is essentially the most dangerous mindset any gambler can ever have because what this mindset does is to override logic and when gamblers suddenly can’t think logically when gambling, it ceases to be a form of entertainment and presence of probability completely disappears  as emotion and desperation completely takes over at this point. And this is why it’s always important to get external help when they feel trapped in that loop of addiction, because they’re already incapacitated and helping themselves is almost impossible.

Yeah as a gambler it is very important we avoid chasing after our lose because it will make us to lose more and then lead us to addiction and when we get addicted it will become impossible to leave, as a gambler what we should try to avoid is addiction and the only way we can do that is by taking gambling as a thing we do to have fun, when you Gamble for fun you will not get addicted but when you Gamble so you can escape poverty and become wealthy then surely you will get addicted. Some people that are addicted to gambling sell off their properties just to gamble and some people gambling addiction has made them to lose their family and loved ones.

[mvdheuvel1983]

Borrowing money to do something means that that thing is a necessity and needs to be done by all means. And like we know, that’s not what gambling is, it’s not a matter of urgency that should be done immediately and should incase you feel like gambling but don’t have the money to do so at the moment, then it’s better to just leave and come back when you have spare money to do so and not to resort to taking of loan to gamble by all means, that just shows the highest level of gambling addiction.

This is not just in gambling in other investments it is not good to use borrowed money to start up a business which you don't know what the outcome is going to be it's just that gambling is the most dangerous of them all because you may not even understand how the money you borrowed will go if you use it to gamble and lose. Gambling should be done using spare money just like an amount that wouldn't affect you after losing but you see those who gamble with borrowed money they stand to put themselves at risk because they will pay back loan they didn't used for something useful.

[cxtreenal]

Even if you're unable to control your gambling, it's not as dangerous when you're able to rely solely on your bankroll. But if you start going into debt for gambling, that's a clear sign you need outside help. It seems obvious to me that if you've lost everything you had and are now looking for borrowed money to continue gambling, you'll lose that money too. But when someone is obsessed with winning back their losses, they may not realize this and need outside help.

The mindset of loss chasing is essentially the most dangerous mindset any gambler can ever have because what this mindset does is to override logic and when gamblers suddenly can’t think logically when gambling, it ceases to be a form of entertainment and presence of probability completely disappears  as emotion and desperation completely takes over at this point. And this is why it’s always important to get external help when they feel trapped in that loop of addiction, because they’re already incapacitated and helping themselves is almost impossible.

Surely. This is one of the most sensitive aspects of gamblers that they chase losses like a walker in the desert chasing a mirage. It is also logical that they should try to get that money back. Most gamblers become addicted and lose regularly and the level of losses reaches a point where they cannot get out of that situation. But to deal with their addictive situation, they should stop gambling and take a long break if possible.

For those who use gambling to make money, entertainment is not the main thing and their only goal is money.

Just as chasing losses is dangerous, so is not stopping gambling when you win. You need to be aware of every risky thing in gambling only then can you be free from the cycle of addiction.

[Z_MBFM]

Borrowing money to do something means that that thing is a necessity and needs to be done by all means. And like we know, that’s not what gambling is, it’s not a matter of urgency that should be done immediately and should incase you feel like gambling but don’t have the money to do so at the moment, then it’s better to just leave and come back when you have spare money to do so and not to resort to taking of loan to gamble by all means, that just shows the highest level of gambling addiction.

This is not just in gambling in other investments it is not good to use borrowed money to start up a business which you don't know what the outcome is going to be it's just that gambling is the most dangerous of them all because you may not even understand how the money you borrowed will go if you use it to gamble and lose. Gambling should be done using spare money just like an amount that wouldn't affect you after losing but you see those who gamble with borrowed money they stand to put themselves at risk because they will pay back loan they didn't used for something useful.

Taking a loan is normal in business but not in all situations. If it is the case that he is in a situation from which it is very difficult or almost impossible to recover, then if someone borrows or borrows money and wastes it, then it can bring a dangerous situation for him. But if there is a situation where it is possible to use the money there and generate good money and repay the loan, then taking a loan at this time will be a better decision. However, gambling is something that never allows anyone to succeed. It depends only on luck, so one should never take a loan for gambling.

[Tungbulu]

This is not just in gambling in other investments it is not good to use borrowed money to start up a business which you don't know what the outcome is going to be it's just that gambling is the most dangerous of them all because you may not even understand how the money you borrowed will go if you use it to gamble and lose. Gambling should be done using spare money just like an amount that wouldn't affect you after losing but you see those who gamble with borrowed money they stand to put themselves at risk because they will pay back loan they didn't used for something useful.

That’s right… and anyone gambling with money that isn’t spare money isn’t following safe gambling guidelines and would most definitely land themselves in serious problems. The reason it’s important and advisable to gamble with spare money is that, it’s always easier to control your emotions when you’ve got no other plans for that money. But when it’s money meant for something else, your emotions can easily get tangled since your expectations are very high.

[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.

One reason why most gamblers end up losing whenever they gamble with borrowed money is because they don't gamble under control at that moment, everything is done based on the fact that they are tensed up and under pressure, this is the reason why they fail to apply patience and strategy, they just act based on what they feel and how their emotions control them that's why they end up losing

[Su-asa]

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.

One reason why most gamblers end up losing whenever they gamble with borrowed money is because they don't gamble under control at that moment, everything is done based on the fact that they are tensed up and under pressure, this is the reason why they fail to apply patience and strategy, they just act based on what they feel and how their emotions control them that's why they end up losing

True mate, when you start gambling with borrowed money you will go through a different pressure that will make you aways want to win. That pressure of wanting to win the bet will always make you as a gambler lose a lot of money. So what you are supposed to do at that time is not to gamble at all if you are with someone's money. However, the only person that will use borrowed money to gamble is an addicted gambler, because I don't see any reason why someone will borrow money to gamble is his not addicted.

[Numeral]

Borrowing money to do something means that that thing is a necessity and needs to be done by all means. And like we know, that’s not what gambling is, it’s not a matter of urgency that should be done immediately and should incase you feel like gambling but don’t have the money to do so at the moment, then it’s better to just leave and come back when you have spare money to do so and not to resort to taking of loan to gamble by all means, that just shows the highest level of gambling addiction.

The availability of credit has given the masses the idea that they can buy anything on credit, even the smallest things. Some people may consider gambling at a casino to be a small thing, even though they may take out a $1,000 loan to do so. The idea that this money will have to be repaid sometime in the future, rather than now, intoxicates people, and they begin to forget about responsibility, even if they are not addicted to gambling. And if a person knows that they have a gambling addiction and still takes out loans, then this is a path to ruin. Banks and microcredit organizations should not issue loans to such people, and besides, they will most likely not pay anything back, so allowing such people to use credit is simply pointless.