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

[Nothingtodo]

If you participate in gambling by taking a loan or a loan from a bank, there is a possibility of falling into a dangerous situation because if you participate in gambling by taking a loan from a bank or a friend, in that case, if you lose money instead of profit in gambling, then you become indebted to the bank or friends. Then how will you repay the loan later because you took a loan and gambled. In this way, an unwise gambler takes a loan and gambles, leading his family to ruin and he himself becomes bankrupt and runs away.

[bubilas]

Borrowing to gamble is an incredibly risky decision. Even people who start businesses often refuse to take out a loan because they understand the risks. I'd also like to point out that gambling is nothing compared to business. Everything in a casino depends on luck, so I think it's incredibly foolish.
There can be no business plan or serious pre-calculation in gambling. How can you bet your life on luck?

Therefore, you should never borrow from a bank or relatives for gambling purposes. This will only exacerbate the problem and prevent you from recouping your losses.

[xenomorfo]

The situation can be reversed because luck helps, but yes I myself do not agree to take loans for gambling because after all the chances of losing are greater than the chances of winning so yes there is no clear certainty that we will be able to get a win when betting using borrowed money.

I myself have never heard of anyone who went bankrupt because of gambling and he took out a loan to gamble again and then the results were positive, managed to get a win that could pay off the loan and cover all the losses incurred, it seems very unlikely to happen.

Well, you can be lucky and luck can help you win and therefore repay the loan and get money, for goodness sake. The point is that in most cases the opposite can occur, that is, a stroke of bad luck and not only do you lose, but in addition you have a debt weighing on your shoulders for something based on luck and this is a silly thing.

[HelliumZ]

Well, you can be lucky and luck can help you win and therefore repay the loan and get money, for goodness sake. The point is that in most cases the opposite can occur, that is, a stroke of bad luck and not only do you lose, but in addition you have a debt weighing on your shoulders for something based on luck and this is a silly thing.

It is not reasonable to gamble by taking loans from such rickshaws and relying solely on luck. I have seen many gamblers in my area who have taken loans from NGOs and gambled away from their families. They initially thought that if they took out a loan and made a profit from betting, they would be able to repay the loan with the profit, but that was not possible and instead of profit, they suffered losses again, and as a result, they were unable to repay the loan, leaving their families and homes behind and fleeing.

[dimonstration]

Well, you can be lucky and luck can help you win and therefore repay the loan and get money, for goodness sake. The point is that in most cases the opposite can occur, that is, a stroke of bad luck and not only do you lose, but in addition you have a debt weighing on your shoulders for something based on luck and this is a silly thing.

It is not reasonable to gamble by taking loans from such rickshaws and relying solely on luck. I have seen many gamblers in my area who have taken loans from NGOs and gambled away from their families. They initially thought that if they took out a loan and made a profit from betting, they would be able to repay the loan with the profit, but that was not possible and instead of profit, they suffered losses again, and as a result, they were unable to repay the loan, leaving their families and homes behind and fleeing.

The typical mistake and start of downfall of someone that becomes addicted on gambling. There a lot of successful businessman in my area that becomes poor after being addicted in online gambling during pandemic that resulted to selling their business property just to pay their loan and bloated interest rates.

I don’t support even a regular for purchasing items since I don’t want to pay interest instead I preferred savings and purchase within my current finance.

[nara1892]

The point is that gambling by utilizing borrowed funds can be very risky but usually this is often used as an alternative for addicted gamblers to finance their gambling activities when they have no money and this is the reason why they often suffer from many financial problems such as debt.

The disadvantages of lending money to gamble is much than the advantages so we shouldn't be thinking of that at all unless you have a way to sort things out. Lending money to gamble can easily lead to addiction because when you lose the borrowed money you would want to get it back and keep chasing the loss. It's very risky and this kind of risk is not really worth taking for me.

Exactly, and that is why borrowing money is not recommended. The risks are much greater, and it is the same as doubling your risk because in most cases, when a gambler dares to take out a loan to gamble, they will continue to do so and end up digging themselves into a hole. meaning borrowing money and using it for gambling in the hope of winning big and paying off other debts they have already incurred. Ultimately, as I mentioned above, they will inevitably become mired in debt.

[xenomorfo]

It is not reasonable to gamble by taking loans from such rickshaws and relying solely on luck. I have seen many gamblers in my area who have taken loans from NGOs and gambled away from their families. They initially thought that if they took out a loan and made a profit from betting, they would be able to repay the loan with the profit, but that was not possible and instead of profit, they suffered losses again, and as a result, they were unable to repay the loan, leaving their families and homes behind and fleeing.

Absolutely, taking out loans to gamble is like people taking out loans to take out other loans, it's absurd. I strongly advise you against doing so. Play with small sums because you don't win in gambling, at most you only lose money.

[Bright0515]

Absolutely, taking out loans to gamble is like people taking out loans to take out other loans, it's absurd. I strongly advise you against doing so. Play with small sums because you don't win in gambling, at most you only lose money.

Some gamblers after losing the money they borrowed to gamble, when it is time to pay back they mostly borrow from another source and to pay back the loan because they don't have other means to get money. Such gamblers all their hopes was on their bets, so that when they win they will pay back the loan, but since their is not any guarantee at all to win a bet. When a gambler start expecting a return from gamble there's nothing more except losing. Even though they win it will be a little money. Even there it is a huge money they will continue to gamble because of greed and they will lose them all.

[Derekfunds]

It is not reasonable to gamble by taking loans from such rickshaws and relying solely on luck. I have seen many gamblers in my area who have taken loans from NGOs and gambled away from their families. They initially thought that if they took out a loan and made a profit from betting, they would be able to repay the loan with the profit, but that was not possible and instead of profit, they suffered losses again, and as a result, they were unable to repay the loan, leaving their families and homes behind and fleeing.

Absolutely, taking out loans to gamble is like people taking out loans to take out other loans, it's absurd. I strongly advise you against doing so. Play with small sums because you don't win in gambling, at most you only lose money.

Taking money from people inform of loan is the highest height of it and I don't advise or encourage people to do that because when someone started taking loan to gamble it is going into addiction already because as a gambler I mean a disciplined gambler you should know when to stop and when you should not go beyond boundary because going to take loan to gamble is going beyond boundary, because the silly part is that you don't even know if the game will play or not so imagine loaning and yet you didn't win the ticket.

[fredericktaylor]

I think gambling with loan money is very risky. There is no assurance through gambling, where there is no granted, gambling with loan money is absolutely risky. Gambling is basically for entertainment, where there is excessive financial or mental stress, entertainment is never obtained from there, so by leaving aside all our necessary money and gambling with the remaining discretionary money, the real fun of gambling can be enjoy, thereby maintaining self-control over ourselves, thus reducing the possibility of addiction. Gambling with loan money can be considered when we have backup funds which do not come under financial pressure after their loss, and there is a proper arrangement to repay the loan naturally, then we can gamble with that money by loan, otherwise deciding to gamble with loan money is very risky.

[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?

It is a very wrong idea to take a loan for gambling because gambling wins are not guaranteed, when you take a loan what about the paying back they interested how would you cope and pay back, since the money will not be refundable and will not yield any profit after placing a bet.

A true gambler does not loan to gambling but gamble with what he has and can afford to lose because he understands the principle of gambling, what you have done is right, latter that your friend will understand that what you have done to him is the best except he his an addict which he needs to be cancelled.

[uneng]

The typical mistake and start of downfall of someone that becomes addicted on gambling. There a lot of successful businessman in my area that becomes poor after being addicted in online gambling during pandemic that resulted to selling their business property just to pay their loan and bloated interest rates.

I don’t support even a regular for purchasing items since I don’t want to pay interest instead I preferred savings and purchase within my current finance.

Gambling is already unprofitable, now imagine borrowing money and having to pay interest over it while losing all the borrowed money on bets. That is the recipe for disaster. Unfortunatelly, as you have already seen in your area, it does happen and the consequences are a big downgrade on the individuals' finances. All the progress they took years to achieve is gone in a matter of few gambling sessions.

And it becomes even worse when they don't repay the loan, as debt keeps accumulating, what can cause even death threats against the debtor by loan sharks. Borrowing money should be done only in very few cases, and it must be always very well calculated, having a plan B if something goes wrong.

[DaNNy001]

Never borrow from friends, it can only be a gift to be returned but painful experience taught me you should not lend to friends as it cannot end well.   To use that money to gamble besides just lunch money small amount sized gambles seems wrong to me as I would hate to use up a gift without much thought.
  My general advice with or without borrowed money is dont risk using up money that is not spare, pay bills before you gamble then you are free and clear.   To gamble firstly with money not spare does cause harm to your chances as you are more worried and distracted by that additional consideration left untied ready to trip you up.  Give yourself the best chances and clear your path first imho.

This is a good advice but it is going to be difficult for addicted gamblers to take this advice because they are locked into gambling and this makes them do careless things just to keep funding their gambling activities...borrowing money to gamble or using money meant to pay important bills are way overboard and a line that no gambler should cross, this has a lot to do with self control and discipline

[Yablee0]

Taking out a loan makes sense if something generates profit, for example, in a business with great potential, and the profits from it will easily cover the loan costs.

Taking a loan for normal business level is something that is very right and is absolutely correct because you have every possibilities in paying back maybe from the profits realized from the business deal but taking it for gambling purpose is completely error and something I will never consider in life.

At first when I saw the capture of the topic I was like wow!  is my eyes paining me or what? Is it real? can people really go this far just to fit up their gambling desire? I was practically choked with so many questions at once, however it pains me to realize that people can really reach this length just to satisfy their endless urge for gambling, perhaps till dudes that are involved in such act  learn the hard way they will not understand the magnitude of damage they have done to their self.

[Orpichukwu]

Absolutely, taking out loans to gamble is like people taking out loans to take out other loans, it's absurd. I strongly advise you against doing so. Play with small sums because you don't win in gambling, at most you only lose money.

And when someone takes a loan to repay a loan, it only ends up putting that person in more debt, as they will have to pay interest from wherever they are getting the loan from. It's just better to gamble with whatever one has and can afford than seek a loan to satisfy gambling cravings.

[bakasabo]

People take loans for gambling, because they dont have their own money, that is risky and unacceptable by society. But to take loan to buy a car (because you dont have enough money), which loses value after you have purchased it, and you can crash your car totally, is fine. Why is that like this? Why is it normal to purchase things with credit card, with money you dont have. But to gamble with someone else money isnt normal?

[Lannakosa]

The typical mistake and start of downfall of someone that becomes addicted on gambling. There a lot of successful businessman in my area that becomes poor after being addicted in online gambling during pandemic that resulted to selling their business property just to pay their loan and bloated interest rates.

I don’t support even a regular for purchasing items since I don’t want to pay interest instead I preferred savings and purchase within my current finance.

Perhaps in your region gambling is some kind of popular form of entertainment, but honestly, I have never heard of gambling being so popular among businessmen. Especially I have never heard of it leading them to go bankrupt and lose their businesses because of gambling. I still believe that people get involved in gambling in order to make money. But in gambling you will never earn as much as you can from a business. So for me, there is some kind of inconsistency here.

[Shinpako09]

People take loans for gambling, because they dont have their own money, that is risky and unacceptable by society. But to take loan to buy a car (because you dont have enough money), which loses value after you have purchased it, and you can crash your car totally, is fine. Why is that like this? Why is it normal to purchase things with credit card, with money you dont have. But to gamble with someone else money isnt normal?

They are both different. Buying a car via installment is like seeing the fruit of your labor. You can use it daily, for going out or for important matters. Meanwhile, taking a loan for gambling is way different. We already know gambling is very risky, and we know our chances of winning are low. If you take a loan and lose, what are you paying for? Basically nothing. At least with a car or other material things like a phone, you are seeing the fruit of your hard work. It may lose its value over time, but the money, hard work, and the car or phone have served their purpose. A loan used for gambling that you lose is different, it’s like its value is lost instantly.

[Zadicar]

People take loans for gambling, because they dont have their own money, that is risky and unacceptable by society. But to take loan to buy a car (because you dont have enough money), which loses value after you have purchased it, and you can crash your car totally, is fine. Why is that like this? Why is it normal to purchase things with credit card, with money you dont have. But to gamble with someone else money isnt normal?

They are both different. Buying a car via installment is like seeing the fruit of your labor. You can use it daily, for going out or for important matters. Meanwhile, taking a loan for gambling is way different. We already know gambling is very risky, and we know our chances of winning are low. If you take a loan and lose, what are you paying for? Basically nothing. At least with a car or other material things like a phone, you are seeing the fruit of your hard work. It may lose its value over time, but the money, hard work, and the car or phone have served their purpose. A loan used for gambling that you lose is different, it’s like its value is lost instantly.

Its totally different because if we do try to zoom out that we've taken up some car loan to have our own car, then in todays era then this isnt that something a want or just to make yourself that look good but rather it turned out to be already a necessity. Why? If we do speak or try to look up into its uses then we can definitely say that it is that something more worth on taking a loan into. Yes, its price depreciates but come to think that you had paying up a loan into something which you've been using on which unlike when you do make use of those amounts for you to gamble then its a different story. Its totally different on something you have used and something that just goes above your hand and vanish right away at the time that you do lose on a particular roll. Its always been recommended that you should make use of your own common sense.

It would be just that too impossible that you cant be able to determine on whats good and whats bad. Self control is crucial because once you do let yourself that being blinded with greed and gamble all the way without control then sooner or later on which you would be finding yourself that sleeping on the streets.

[Dunamisx]

When you see a gambler taking decision on something like this, then such could be an irresponsible one, because gambling is not what we can do without having the necessary plan for ourselves before engaging it, we can't also gamble and expect that things go the same way as they ought to when we are not careful while playing, taking a loan to gamble indicates for lose in priority and such could only be done by an addicted gambler.