Betting with pooled money

[Jubilee58]

Your friend and you added money together and you gamble with it in a casino? If that is what you mean, I can not do it. I will prefer everyone to have their own money and gamble with it separately. Although we can decide to pay for each other.

It is like you gamble with high amount of money? Why us it full of emotions? My emotions while gambling now is almost zero because of the small amount of money that I am using to gamble.

Putting money together with a friend to gamble on a casino game is strange to me , and is something I have not done before, now when the bet goes wrong who is to be blamed, and in this situation if your friend is not familiar with loosing money in gambling it could result to a very big problem because I have witnessed it myself when a friend gave some money to someone to place bet for him, but the bet eventually failed, and the person that gave someone money became angry, but if your friend understand that gambling is a game of loose, and win, there won't be any problem even if losses occurs.
However, gambling is risky so that while pooling fund together to gamble, let it be for fun otherwise you could end up blaming yourselves more especially if you loose big money.

[Miles2006]

The outcome might not seem pleasing but, at the end of the day this sounds fun mostly when playing games conversant with the team, the amazing part is when the bet is attach with sport teams.
Honestly this type of bet is worth trying with friends, the part when all your bankroll is used might seem a little difficult for most people, personally why not use a limited amount only. Discipline is necessary, it’s quite understandable when a certain amount is arrange rather than funding the bet over and over, this are common mistake and without clarity I don’t think I will be trying this although aside from the fact winning is needed viewing this kind of bet is always entertaining.

[bhadz]

That's how fun pool betting is if it's done with the people that you know. But if someone joins it and that person isn't really into it and the risk that it covers, better not to do it anymore with that person. If it's for the sake of having fun, don't limit yourself guys by the frustration that it has brought you. It can be done anytime again just for fun and no heart feelings whatever the results are. The bond that you've shared with each other as a memory will last for a long time although if you've got limited funds then might not do it and just hang out.

[HyperCodexV]

Me, and my friends once pooled our money to place bets on a casino site, looking for some entertainment during our spare time. Initially, we just wanted to hang out like anyone else, but then one of us suggested pooling our funds for betting. We all agreed to go for it, and we certainly got our entertainment, even though we ended up blowing through our entire bankroll. Maybe, it was my first and last time doing something like that.   

Honestly, playing like that is really entertaining, especially with the mix of emotions we experience with every bet placed. However, I think that can only be done with a mutual agreement regarding whatever might happen, and there will be no issues if everyone has reached an agreement.

So, have you ever done the same thing ?

I have never done that before but it sounds like a good time. The excitement must be different when you're all in it together. The only thing I will worry about is if one person starts taking it too seriously while others are just there for fun. As long as everyone is on the same page, it is probably a good laugh. But I can also see why you said it was your first and last time. Once is enough for the experience. No need to make it a habit. if at the end of it all you walk away with some funny memories and your friendships intact, you didn't really lose.

[uchegod-21]

One of the reasons of pooling funds together to gamble is so you all in that group can share the risks involved in a very large bet. One person doesn't have to pay that much money. It is still a way of managing your bankroll. However, with this as an important reason, you all @op still ended up blowing through your bankroll. I just hope that you guys did not spend more than you already allocated to gambling and that your bankroll was not overly inflated. I will consider it an irresponsible behaviour and will not advice that you try it again.

It is good that everything ended on a good note. Many relationships have broken because of this reason. If it is not a business/contract where there is a signed document stating individual claims at the completion of the contract, I will never pool money with others in a group for the sake of gambling. Out of peer influence, you might end up spending more than you already budgeted.

[Odusko]

Me, and my friends once pooled our money to place bets on a casino site, looking for some entertainment during our spare time. Initially, we just wanted to hang out like anyone else, but then one of us suggested pooling our funds for betting. We all agreed to go for it, and we certainly got our entertainment, even though we ended up blowing through our entire bankroll. Maybe, it was my first and last time doing something like that.   

Honestly, playing like that is really entertaining, especially with the mix of emotions we experience with every bet placed. However, I think that can only be done with a mutual agreement regarding whatever might happen, and there will be no issues if everyone has reached an agreement.

So, have you ever done the same thing ?

Seriously I can see any entertainment in this, because basically I can't do that, why should I pull up money together with others just to gamble with and my intention is to get entertained, I don't think that is logical because if you want to get entertainment with friends you guy's can engage in some more fun games like playing football on weekends, or other physical games that doesn't involve gambling like you guy's did in this your situation.

[EluguHcman]

Good for you all could still go home with the entertainment feelings even after the loose to the extent of blowing your bankroll. I am of no position to criticize you and your friends but to me, it will be a regretting if I have to loose such funds which I have already budgeted to hangout with friends.

Definitely I wont be happy to that very friend that brought the ideal that suddenly diverted our interest to the casino because the moments spent in playing the games after loosing the funds won't be splendid as that we earlier intended for the handout.

I can not even afford to contribute my money to bet on a games with friends like that. It is just like I have been convinced that the game is guaranteed to be won and we have to take the risk to double our money and then proceeds to our initial plans on spending it as earlier intended.

[Fiasem20]

You and your friends got entertained through gambling and at the end there was no disagreement and that’s all matter.Most friends broke up because there was money involved in the picture,it’s more better you place your bets alone incase things go wrong you won’t hold anyone responsible.Anyways,everyone has their own way of having fun,just like you went out gambling with your friends most individuals would prefer doing their stuff all alone,personally I would love to have that kind of moment but I haven’t trusted my friends enough to the extent of contributing our funds to gamble together.Before having this moment of a friendly bet consider the bound and mutuality you’ve built with your friends.

[Hispo]

...

So, have you ever done the same thing ?

It is something I have never done with anyone, though it is something which I has discussed before here on the forum.
Usually, there is a very good chance things go Sauer when comes to distributing profits from successful betting sessions with pooled money. Money is one of the things which can easily ruin friendships and companionships, that is why I prefer to bet and gamble alone, with my little money, even if it is not as thrill-inducing as using higher amounts of money.

At least, it seems things went okey between you and your colleagues.

[MainIbem]

Glad that ended up in good terms but in general is is very bad idea to pool money to make a bet, if you end up losing then disputes among friends can cause chaos. So let every decide what they want to do and do it together even if you all are agreeing on the same team to win.

I won't do it, I never recommend anyone to do it as well.

Not only with lose but wins too cause a greedy one might want the lion share of the winning which might lead to a dispute but it's good that him and his friends understood each other that they all have to accept their fate instead of blaming each other over a lose and they also achieved their aim in entertaining themselves too. It's nice that the OP acknowledged that it's risky and it would be his last trial, i respect his decision cause it would help avoid future dhspute among his friend zone.

[bakasabo]

I have never pooled money with someone to gamble. Frankly, I dont see reason to do that. When you merge funds, lets say 50/50, you still get 50% or winning amount, not 51% or more. Odds are also I havent noticed to change if the bet size is larger than you usually bet.

If I understand OP right, then pooled money was fun because the of the higher bet size (as it meant a higher risk for you). Why not increase deposit and get same emotions next time?

[Bryan jessy]

I have not really experienced such before I  will rather gamble with my own special money alone because things like this cause or lead to serious argument at the end, truly you most really have good understanding with your friends that you all had agreed and none of them complain or start a fight afterwards and you guys most have pooled huge cash to the betting, having such friends as yours is rare nowadays  because there is definitely going to be an argument after losing the money especially if it was your idea or maybe you convinced them to playing the game mostly as a mixed emotion was involved.

[Byebyebtc]

Well as long as there is no awkward emotions attached and you guys had fun it seems alright. Although I will personally want to bet by my self on a normal day, and wouldn't want to do such, but since some significant level of fun was involved with some good vibe that I will be willing to try it only in those conditions.

And it's also very important to select the friends you will do that stuff with, you don't just do it with any type of friends.

[taufik123]

-snip-
Honestly, playing like that is really entertaining, especially with the mix of emotions we experience with every bet placed. However, I think that can only be done with a mutual agreement regarding whatever might happen, and there will be no issues if everyone has reached an agreement.

So, have you ever done the same thing ?

As you said at the beginning, it's just entertainment and whatever results you get whether it's losing or winning,
in the end it's all just entertainment and just to please yourself, without any burden, panic or stress, it's purely entertainment.

As long as it does not turn into a gambling that leads to addiction, it will not have any side effects.

I may be a little introverted when it comes to gambling, never inviting others to bet together or raise funds together.
But I prefer to use a little of my funds to just play games, or bet on sportsbooks, it's nice to have to win without a burden,
it just takes a little entertainment, because the allocation used is also not big and there are limits.

[Davidvictorson]

Me, and my friends once pooled our money to place bets on a casino site, looking for some entertainment during our spare time. Initially, we just wanted to hang out like anyone else, but then one of us suggested pooling our funds for betting. We all agreed to go for it, and we certainly got our entertainment, even though we ended up blowing through our entire bankroll. Maybe, it was my first and last time doing something like that.   

Honestly, playing like that is really entertaining, especially with the mix of emotions we experience with every bet placed. However, I think that can only be done with a mutual agreement regarding whatever might happen, and there will be no issues if everyone has reached an agreement.

So, have you ever done the same thing ?

This reminds me of the type of business called partnership and specifically one of its advantages which is risk sharing. In my estimation that is the only upside of pooled betting. At least when you lose, you only lose a very small percentage compared to losing 100 percent if you were the sole bettor. I also think it reduces the risk of irresponsible gambling too because everyone will not agree on doing some dumb thing with their money all in the name of gambling. There will definitely be one voice of reasoning.
It’s fun though and a shared memory that your friends will talk about for a long time to come.

[JoyceBTC]

Glad that ended up in good terms but in general is is very bad idea to pool money to make a bet, if you end up losing then disputes among friends can cause chaos. So let every decide what they want to do and do it together even if you all are agreeing on the same team to win.

I won't do it, I never recommend anyone to do it as well.

Since it was mainly for the purpose of entertainment and they came to an understanding, then I don’t see a problem with that, the most important thing here is that they had an understanding. Although, this is not always advisable and the reason is because to avoid dispute between the two persons involved when a win happens and for sure, we all know money is one of the things that bring problem between friends.

[WhoYouCantKill]

Although I don’t think I’ve been there before, I mean pooling money to bet, but I think I can really understand why doing it together made the experience more enjoyable and exciting, especially the fact that everyone was involved and agreed beforehand. But still, the it’s crucial to note that there’s still a high probability of cleaning out one’s bankroll, and so I feel it’ll be better to keep this as a one time experience as this may look like a more wiser approach.

[Cryptohygenic]

Did you people made the option to divert to gambling because you want to make more money or you all personally only wanted to have fun instead of the hanging out?
There is also possibilities that not all of you will be happy after you blow of the funds because that was not the initial ideal before one of you brought it up and you all agreed to dig it.
If you people had really want to have entertaining pool as that, it would had been better you hang out and think of a game to play in a round table maybe you buy some snacks,  drinks or something eatable and whoever that wins the pool takes it share of the stake.
Maybe that would be more fun than going to the casino.

[SamReomo]

So, have you ever done the same thing ?

Yes, I've done that a few times with my brothers and cousins. We all added fixed amounts to a casino and started betting together on slots games, the experience was quite good and in end we mange to win some bets and got high multiplier big wins.

The amount we added got multiplied by 3 and then I told my brothers and the cousins to not bet anymore and withdraw the won money.

They agreed but said we should place a few more bets and then we'll withdraw the amount. During last few bets we lost some amount but still when we withdrew the money we all made more than 2x of our money.

We still do that type of betting once in a week or sometimes once in a month, sometimes we don't win anything but enjoy the bets and sometimes we lose the amount that we deposited as that's part of the game, but sometimes we win. So far we've done that 2-3 times and we all agreed to do it again after a few days.

[Nwada001]

Glad that ended up in good terms but in general is is very bad idea to pool money to make a bet, if you end up losing then disputes among friends can cause chaos. So let every decide what they want to do and do it together even if you all are agreeing on the same team to win.

I won't do it, I never recommend anyone to do it as well.

I also agree with you in as much as the group of friends are out there to make memories and spend time together. There is nothing that can easily bring in disagreement and separation among friends like money; it’s better they just decide on how much each person can risk and allow everyone to gamble on their own to save up the stress and trouble of deciding who plays and how to share funds if there was actually a winner and they did not burn out all their bankroll.