The weird situation of people in debt that still gamble

[Mate2237]

This whole situation helped me realize many people who actually gamble do so with amounts they see pointless as saving, but also at the same time many of these people are in very dire financial situations already.

The truth is that most people see gambling as a way of escape, from their financial situation which they find themselves especially those in debt. They think that by gambling they can easily raise money to settle their losses, so they continue to gamble with the hopes of winning big . Most of the Gamblers has this type of mindset that is the more reason why they continue to gamble even when they are losing. Some even go to the extent of looking for money even borrowing money to gamble wit the intensions of winning big money.


But this type of ignorant act of continually gambling even when they are in depth is one that, has continued to hold them still to gambling. This is because the more such people gamble the more they lose which means that more dept are pilling up when vied from a long point of view.

[TopT3ns]

This whole situation helped me realize many people who actually gamble do so with amounts they see pointless as saving, but also at the same time many of these people are in very dire financial situations already.

The truth is that most people see gambling as a way of escape, from their financial situation which they find themselves especially those in debt. They think that by gambling they can easily raise money to settle their losses, so they continue to gamble with the hopes of winning big . Most of the Gamblers has this type of mindset that is the more reason why they continue to gamble even when they are losing. Some even go to the extent of looking for money even borrowing money to gamble wit the intensions of winning big money.


But this type of ignorant act of continually gambling even when they are in depth is one that, has continued to hold them still to gambling. This is because the more such people gamble the more they lose which means that more dept are pilling up when vied from a long point of view.

It is just a thinking trap that generates false illusion about the swift recovery due to random speculation that continues to decrease left over financial capacity systematically. Economic forces swamp common sense, and rational decisions are all too readily abandoned in favour of an airing of hopelessness in the face of what seems to be luck, beyond control. Making new commitments upon a wobbly basis hastens the gigantic and catastrophic annihilation of overall capital.

[Onyeeze]

I saw my cousin the other day playing slots on a very shitty website the other day. It was just a few days after payday.
I asked him in the kindest manner I could to explain himself, since he's deep in debt to a bank for a loan he took, why would he gamble instead of saving to pay back his loan early.

sometimes some people contribute almost 100% of their debts, so I believe that what makes some people to be into debts today gambling is because of lack of understanding because anyone who is into gambling supposed to know that gambling is all about risk so taking a loan to participate in gambling the person is going into a deep debt, so what everything you are doing concerning gambling you don't need to take alone to participate in gambling never think about involving yourself in gambling will I give you the money that you can use to repay your loan that you are owing..

[Fredomago]

People have different strategies to earn, and gambling is never an exception. And having a current debt is not an excuse, especially for those who have really passion in gambling and for those who have seen at some point that they are also making good profits.

However, its a different thing if you have a huge debt, and at the same time you are also addicted to gambling. It will not make a positive outcome in the long run. It could even lead you not paying your current debt and create another debt. Gambling is never bad, but it could creates worst scenarios if one is gambling irresponsibly.

Yes, most of the time instead of taking out  profits when still in green it will push for more thinking that once you made a huge earnings you may pay for your bills, that's a problem which common to those who already deep into gambling, it's a tough decision to make as you are being dominated by emotions.

Just like what you said, different gamblers got their own perspective but it won't carry anything if you are addicted with a huge debt as it will continue to add as a problem.

[uneng]

So my cousin argued that with the little he could save by the end of each month, there was zero point saving a few dozens of dollars in this economy. He just things he will keep playing slots because in case he wins big he can pay early just to not worry about the loan. Otherwise he just actually wants to lose this money because in case he misses a couple loan payments the bank will even try to compensate the pennies he would have left in his bank account and he doesn't want to let them do that. In his mind the money given to the casino is something the bank won't be able to recover.
~

It doesn't make any sense.

I get the part of winning big to change his life 180 but if he is not interested in saving the money to repay the debt early, he can do something else with that money right? If I read it correctly, he is spending a few dozen so I am assuming it is $50 for the least. He may not buy a whole bitcoin but he can definitely buy $50 of bitcoin every month and see after a year or two he has made any returns on it.

It may look risky but it sounds better than completely wasting the money because he doesn't want to repay the loan early.

I also don't get it, unless he is trying to cheat the bank by not repaying the loan, due to not having any pennies at his banking account. So he prefers risking everything at the casino and losing, instead of having to pay pennies back to the bank. In case he makes big profit, he can get rid of the loan and still have money on his pockets, and in case he loses, nothing will happen at all...

[meser#]

All I can think about your cousin is that he has a serious addiction and he is finding some excuses to his addiction. Probably he made that debt with playing slots etc. and he doesn't realise that he is in a swamp. And probably he is thinking the only way he can get out of that debt is gambling. Thats why he will make much more debt than today in the future.

[rachael9385]

First of all, gambling with a borrowed money with the intention of paying back from the amount you hope to win Is a delusional thing for anyone to do. People need to realize that borrowing to gamble actually puts them in a precarious situation that might be difficult for them to get out of but they don't really think about this.

[JoyMarsha]

This is a worst-case scenario that your cousin finds himself in. How does he think he will survive and meet up to pay the loan through gambling, which takes away from people the little money they have.

I don't want you to stay quiet about your cousin, for him to deal with his gambling addiction alone without calling out for help on his behalf because the way I am seeing this, your cousin will not be paying back the loan in any moment and that keeps multiplying and it can lead for him to be frustrated in life

[mcdouglasx]

People will always do crazy things according to their own judgment each day. I suppose if he's not doing it out of addiction, he's doing it thinking it's a way of protesting against the control exerted by the system. But from the tone of your message, he doesn't seem worried about paying less or more, so I think that's what he meant in a nutshell. He basically said, "I gain nothing by paying my debt early," although I don't understand why he owed it. Was it a gambling debt or something else? Because if the debt was for gambling, then he's definitely acting out of addiction.

[TopT3ns]

First of all, gambling with a borrowed money with the intention of paying back from the amount you hope to win Is a delusional thing for anyone to do. People need to realize that borrowing to gamble actually puts them in a precarious situation that might be difficult for them to get out of but they don't really think about this.

It is delusion to use low probability games that require meeting legal requirements in a place of luck. Gamblers neither consider the risk of interest charges nor lack of social implications of their failed prophesies. The dependency based on the failure to come into terms with reality contributes to the fatally flawed economic decisions, and permanently endangers the stability of life.

[Davidvictorson]

This whole situation helped me realize many people who actually gamble do so with amounts they see pointless as saving, but also at the same time many of these people are in very dire financial situations already.

Very good observation but this is also a case of gambling irresponsibly. And it will lead to more debts. In your cousins situation he is thinks he is explaining it from a logical point of view, what he doesn’t know is that his view is not balanced at all.Things can go south real quick and he will be more in debt. It is on you now to give him a balanced view in the most respectful manner.

[Fivestar4everMVP]

This whole situation helped me realize many people who actually gamble do so with amounts they see pointless as saving, but also at the same time many of these people are in very dire financial situations already.

I understand the fact that it's mostly very common to see people who are in debt turn in to gambling possibly as a means or way they try to see if they could win, raise the money they are owing so they could pay back, but to be honest, I do not support this type of strategy because it's very risky, not once or twice but many times have I come across or heard stories of people, gambler who ended up committing suicide and killing themselves simply because of the huge money they are owing which they can no longer afford to pay, even after spending every dime they have on a casino trying to win so they could clear their debt.

I always caution gamblers to never borrow money to gamble, or gamble while owing a huge sum of money, it is better to find some other ways of paying off the money than turning to gambling where winning is absolutely unpredictable.

So for me, I don't fully understand your story about your cousin but I will charge you to advice him to quit gambling as a means of trying to raise the money to pay off the loan, he should try as much as possible to get a job instead.

[Lida93]

The young man's gambling addiction is no more at an ordinary stage especially with how he has concluded that there's no way he can save gradually to repaying his debt but could rather spend the little funds he's getting to gamble more further in the expectation that he's going to win some huge profit to repay the bank debt in one piece. It's really weird to even imagine that he can pay back that loan even in the next 10 years by depending on a huge gambling win that may come his way. Mate, you brother needs to undergo therapy process.

[Odogwu-Blockchain]

it seems you are talking to an addict. These people need professional help. You can’t talk them out of gambling so easily. They don’t care. They can blame everything and everyone but themselves. In this case, your friend blames the economy. He already lost his hopes and he seeks the solution in gambling which is a huge huge mistake. Call his parents maybe… Or try to direct his interest to something else but do it subtly. I am telling you to manipulate him but even that would be better than playing at a casino 24-7.

You just have to let him quit by himself, they don't tell someone, he will learn the hard way. Situations like this often happens to be that the victims has to do a self check and decide to quit by the strength given from God. That's how these things works. Your advise to him to stop won't change anything, won't move mountains, won't influence his decision but will only bring up his ego to "fuck y'all"

[Cantsay]

Do we save because of the interest or because theirs going to be an increase somehow? I don’t really see the whole point of not having any early repayment benefit as a solid reason to not pay back his loans and instead use it for his gambling activities.

Anyone who knows how dangerous debt is, especially when it is being used to fuel liabilities and not used in a productive way would know that early payments whether there are benefits or not is the only way. Saving up to pay his debt is wiser than gambling and hoping his fairy mother is active to help him win a huge amount to pay his debt.

[Finestream]

What your cousin is trying to implicate is that there's no wasted money in gambling, but consistently saving a small amount to pay the debt could be a waste of time. That's how irresponsible gambler's way of thinking. They don't focus on the reality, they value more on their fake beliefs or assumptions that are impossible to achieve. And for that, it makes harder for us to manage that kind of gamblers because they are not open for other's opinions or ideas, but just stick to what they think is right.

Your cousin is seriously struggling with gambling addiction. Don't expect for that debt to be settled, but expect worst things to happen in your cousin if he is left untreated or disregard his current condition.

[Crypto_Timothy]

I mean it is very easy for people to assume gamblers are simply chasing easy money but if you check very well, some of them have financial issue. Your cousin's reasoning may not be financially sound, but it reflects a mindset that can develop when someone feels trapped in gambling. If saving $20 or $50 a month seems insignificant compared to a large debt, the possibility of a big win can start to feel more attractive than the certainty of slow progress. It is a whole psychological thing but people in this situation just like your cousin, they will straight up tell you "Just one but hit and everything is solved". Sometimes they require someone to pull them back to reality and that way start working on their lives but until that reality check, they mostly live in delusion.

[Botnake]

Your cousin is seriously struggling with gambling addiction. Don't expect for that debt to be settled, but expect worst things to happen in your cousin if he is left untreated or disregard his current condition.

Sure is, based on the statement of OP.

The right thing to do is actually not to mix gambling with other obligations, and never think that gambling winnings will pay off a loan because that does not happen most of the time. In fact, what usually happens is people borrow money because they want to finance their gambling addiction.

So if he was being realistic, he would not think that way, clearly addiction has already sunk into his system.

The simple rule is gamble only what you can afford, so it should be an amount we are already ready to lose, meaning less expectation from it because after all, the purpose is to enjoy, not to treat it like a business to gain profit.

[freedomgo]

Reality with gambling addicts, they don't want slow outcome or development, they prefer to rush in everything. That's why they are deeply addicted in gambling because everything that happen seem instant, you get to win in a second, and lose your money in just a blink of an eye.

And with how your cousin reacted to your advice, he is kind of hopeless in saving a little in order to pay back his debt. He just prefer to gamble his available money, regardless if its a win or loss. Just tell his family about his current situation so that he can seek immediate professional help, and with his family as his support system, he can manage to heal his gambling addiction.

[jossiel]

I've got relatives who are also like that. They despise the idea of saving and investing but they like to see themselves become rich with gambling.

It's possible but it only happens to very few people. It's okay if they're doing that but they need to clear their debts first and do whatever they want next.

As they gamble, they need to put themselves into the shoe of how it's like to have investments and savings. But that might be another problem for them when they can't control themselves and becomes addicted.