Betting with pooled money

[Inior]

I'm always conscious when playing bet with my friends especially the ones that are quick to throw blames. I hate it when a full grown up can not take responsibility for their action it make me feel really disappointed in myself for picking any like that as a friend and that why most time I tend to stay on my own rather than do something like this with some Fri ends.

[Makus]

I haven't tried something like that before and I don't think I ever will because I prefer to take risks on my won without really involving anyone. There is nothing wrong in betting with pooled money as long as there's an agreement made by everyone that's putting their money together but for me I don't really think gambling should be done in group, that's just how I see it but the most important thing is to gamble responsibly. Just make sure whenever you and your friends plan on doing this next time it doesn't cause any issue between all of you.

[Cantsay]

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 ?

Things like this are the fastest ways to end a friend group, especially when you have one that doesn't like losing their money. Then you would see them come up with all sorts of arguments that would prevent you from taking their money, but when they eventually win, they would forget the fact that they held others back from taking their money.

What I wrote above is one of the reasons why I have decided that I am never going to pool money together to gamble, we could do other things but once money is involved I am never going to take part in it.

[Odogwu-Blockchain]

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 ?

How many of your friends? They may be certainly many I guess.

And yeah, I have I had only done pooled betting with my friend, we just just two of us. We contributed money together and experienced rollover challenge, it doesn't end well though but we shared good memories doing that, it was fun, to the point we blamed each other for choosing the wrong game that ruin the slip.

I can't get involved in such again though, don't wanna get hurt;)

[alastantiger]

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.

I have not tried doing it but I can see the fun in it as it makes it more entertaining but I do not like to share my profits with anyone because I have already seen how this can become a problem in the future hence it's better everyone goes their separate ways and gamble so that any result they get they deal with it themselves without blaming one another. After gathering the money how will they know what to bet on and if the bet does not come out as they predicted, I hope they do not get angry and become violent as that can definitely happen as I have seen it happen too with when many people put money together to do something.

[nelson4lov]

I'm thinking of doing something like this with a closed friend this news season. I haven't tried it before but I'll probably do it just for the experience. We would both contribute about 50% of the pool size and split profits that come in. From the look of things, I'll be the one analyzing and coming up with bets and the execution. I'm never comfortable taking money from people to trade or to gamble so this is a first but only because he's a close friend that understands that there are risks involved and that anytime a bet is placed, it is outside of our control.

[Asiska02]

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 still see nothing wrong in that if they all agree on the same thing and won’t blame one another for the failure of the bet. It makes no difference to me even if they bet individually and not joined together as one to bet on. The outcome of a winning bet is always determined by the odds and the money you’re putting into them, so even if you bet separately with the same odds in all games, you’ll still be having same profit as those that joined their money to bet. What could also cause problem in such pool bet is the sharing formulae after a win, all this should be considered before agreeing to do a pool bet.

[Joy- maker]

So, have you ever done the same thing ?

I have actually tried it twice, but the last one didn't end up for me. Although, i did it with people I met randomly at a betting shop and this a was early last year. The match was between Chelsea, and one other football club which i can't really recure the name of the club because it's not popular as Chelsea.

During the second half of that match, I predicted the correct score and ask the people around join money with me let's play the correct score. I expected it to be a thing of fun, but it didn't turn out that way which I ended up refunding a particular guy his money that day.

[rbynxx]

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 ?

Never done that thing but I really think that's exciting but if I will gonna do it, it would be the best of friends who knows you in and out because there's no way you'd ask a friend that probably might be a killjoy. This is memorable considering these days you'd probably not have time to be together for years. I'd do it in moderation just like drinking but getting wasted isn't bad as long as you're having the best of time with your best of friends.

[laspol65]

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.   

I will never say that you gambled with everyone's money, because if someone here spoke against you, then there would definitely be a fight. Because after losing money, everyone's mind is not united, so the decision could be different and a fight could arise between your friends.
But I think you should gamble with your own money and enjoy yourself, if you win, you will be happy and even if you lose your money, you will be happy. Because you have the ability to lose money, which is why you gambled for the purpose of enjoying gambling.

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 ?

Since you all gambled together, it would be a good idea to thank them, because there was no quarrel here. In the current situation, you should avoid gambling together in the future, because this could lead to quarrels.
Not everyone has the right mindset about losing money, so what would you do if any of your friends wanted their lost money back?

[Myleschetty]

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.

Yes, it's a bad idea, but there's nothing to be concerned about when it's something that happens when mature friends get together and decide to add some fun to the event, which is what I believe happened between the OP and his friend. In addition, I wouldn't be shocked if the OP and his friends were drinking beer while placing bets using the pooled funds.

[Sonia_123]

That is gambling, not attaching emotions or monetary value to it when you bet, at the end of the day joy and happiness was derived those were your aim of gambling just for entertainment, the volume of money being used was not mentioned but there was no regret among them all .

This is how gambling is suppose to be not gambling for money but for entertainment and accepting the outcome, there was no win, no chasing of losses or wins, we must learn to gamble in this manner so that we don't blame ourselves.
Sometimes I often gamble like this but with a specific bankroll, I call it friends gambling, it's really interesting catching such funds

[Patikno]

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.

How do you guys come up with the game to bet on and who is to bet first? or do you people just go for sports slot games and do the spinning and choose of game based on which is voted for the most? These question are the areas which I always wonder how it will be done if we are to be on friends outings and decided to add up money and gambler outside our table.

We chose the game based on what was most popular at the time; as it happened, Mahjong-themed slot games were all the rage in our circle. We agreed on the betting terms, and one of our friends took on the role of operator (handling the spins), and he using the auto-spin feature. We also established a withdrawal rule beforehand: we would only cash out once our initial bankroll had doubled. I suppose it is really no different from pooling money to play together at an arcade, right ?

[Russlenat]

I have done it before along with my friends. At first, it worked, and we all end up happy and profitable. But the more it worked, the more greedy we become, and realized that we have pooled a huge amount of cash that we can no longer afford to lose. That's when we decided to take leverage and boom, all our money is gone in an instant.

But if all of you have agreed to place a small amount and stick with financial limits, I think there's no problem there. Losses can happen anytime, but at least you will lose the amount all of you are comfortable losing.

[Cantsay]

We chose the game based on what was most popular at the time; as it happened, Mahjong-themed slot games were all the rage in our circle. We agreed on the betting terms, and one of our friends took on the role of operator (handling the spins), and he using the auto-spin feature. We also established a withdrawal rule beforehand: we would only cash out once our initial bankroll had doubled. I suppose it is really no different from pooling money to play together at an arcade, right ?

Reading this again, I am thinking of trying this with some of my friend, initially I was not even going to try it because of the whole issue that could arise when one is dealing with money with friend since that’s the fastest route to destroying it.

So I’d have to think of how to get it done without the whole thing escalating and also it would be a nice way to further access them on their level of control too.

[Odusko]

I’ve been involved with office pools for lottery drawings, but typically I think pooling money for gambling is a bad idea. It could be fun, I guess, as long as everyone trusted each other, but I could also see certain people making it a miserable experience if they felt like winnings weren’t adding up to expectations.

Their trust can only get tested when there Is a big winning and the sharing formula is drafted, the fact that in such pool, everyone won't contribute equal amount of money, is always there, but the sharing formula I what will expose everything greed inside each and everyone involved, so to avoid all of that, taking such bet mode is not advisable for whatever reasons, gambler's should already know all of that and make attempts to avoid getting caught up with such lifestyle no matter how fun it could be in playing those game's as long as money is involved it best avoided.

[Mayor of ogba]

I have done something like this with my friends in the past. What led me and my friends to do that is because we couldn't win a bet individually for a very long time so we decided to pool our money to place a bet  in order for us to win but still yet we couldn't even win the bet we placed. Even as we loss our money it was fun because we were making fun of the person who's prediction cut the bet.

[qurbanshah02]

That is gambling, not attaching emotions or monetary value to it when you bet, at the end of the day joy and happiness was derived those were your aim of gambling just for entertainment, the volume of money being used was not mentioned but there was no regret among them all .

Gambling always causes emotions and mental stress because gambling involves money. Even if you invest someone's money and you are not afraid of it, you will still be scared. Therefore, gambling always increases and decreases with our emotions. When we win, our emotions become good and when we lose at the same time, we do feel much pain. But when we lose with a large amount of money and we do not get anything, we feel fear inside us, which makes us feel different emotions. The pleasure in gambling is very less. When you win, it is happiness, comfort and fun for you and when you lose, it is pain and loss. In my opinion, if we play with a certain amount as our goal, then we can feel good in it, but no one will stop us to that extent. Greed always calls a person towards itself and makes him feel regret by putting him in loss.

[Orpichukwu]

How do you guys come up with the game to bet on and who is to bet first? or do you people just go for sports slot games and do the spinning and choose of game based on which is voted for the most? These question are the areas which I always wonder how it will be done if we are to be on friends outings and decided to add up money and gambler outside our table.

We chose the game based on what was most popular at the time; as it happened, Mahjong-themed slot games were all the rage in our circle. We agreed on the betting terms, and one of our friends took on the role of operator (handling the spins), and he using the auto-spin feature. We also established a withdrawal rule beforehand: we would only cash out once our initial bankroll had doubled. I suppose it is really no different from pooling money to play together at an arcade, right ?

This is more clear and understandable now; at least you all are in one voice, and you have set out rules which will even avoid conflict in the future if there ever has to be an option of cashout; you have already settled it before landing. It's a fun practice, but one really needs to have a group of friends with whom you speak one language for you to be able to pull it off.

[Hispo]

I have done something like this with my friends in the past. What led me and my friends to do that is because we couldn't win a bet individually for a very long time so we decided to pool our money to place a bet  in order for us to win but still yet we couldn't even win the bet we placed. Even as we loss our money it was fun because we were making fun of the person who's prediction cut the bet.

How did you guy even determined who was supposed to choose the bet to begin with?
Since the money is being collectively risked by all of you, I assume the fairest thing to do was going for a bet which everyone agreed on.
But what if not everyone agreed how the money was supposed to be wagered?

It sound like something would could easily end up in an arguing and running the whole mood for the night.

Just my personal opinion, though.