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[Pikiboy]

but I believe that borrowing money to gamble is a terrible idea for a gambler.

if anyone is borrowing actual money to gamble, they are retarded.

This is where we would say that addiction to gambling has really showed up their faces. When it gets to the levels at which people began to see that such person is a gambling addicts they should be that looking for an alternative way to get it done and sorted it out.
Before they could be doing it this you know that they have gone far into loaning, and for the gambling site there could be some sorts of criteria that may required them to have access to loans.

[Bitinity]

I don't know about others, but I see this loan features as a very bad idea because it's like encouraging addictive gambler to gamble more when he or she should have called it a day when he is out of funds.

maybe if you were taking actual real loans, i would agree. but technically, goated loans are not real loans, they are basically lending you a % of future rewards (i think weekly, monthly, level up bonus).
so the worst that can happen if you default, is your VIP could derank, and not get pending rewards.

Not only getting the VIP level downgraded but defaulting a loan will be resulted in removing all benefits and deleted account permanently as what is written in the Help Center page related to this loans feature.

However, if a loan isn’t repaid within a reasonable time, the outstanding loan will automatically be deducted from your future rewards. If this was not possible and if any loans remain unpaid after 30 days, Goated reserves the right to disable or permanently delete your account, along with removing any associated benefits.

for example, emerald 2 rank level up rewards is ~$1,200, so them giving you a $1k loan when you are close to level up, should not be a problem for them. if you don't pay the loan back, they could deduct the loan amount from the level up reward.

(i don't know for a fact how it works on goated, i'm just making assumptions based on things i've seen before, so don't take my words for it)

The example you try to give can be said as the most reasonable situation for the casino to give a loan because in that case, the player is actually having a clear pending reward since the player is getting closed to the level up bonus. Means that there is less risk taken by the casino but of course we do not really know how it works in the reality since we have not tried it ourselves . My goated account is still Pearl 1, long way to go to be eligible for the loan so no chance for me to try it myself and share the experience. Even if I am eligible, I will always think twice or more before taking the loan.

[Futurexxx]

so the worst that can happen if you default, is your VIP could derank, and not get pending rewards.

If it's not a real money loan, then I think that the casino is somehow safe, because people are very good at exploiting system they found vulnerable.

if anyone is borrowing actual money to gamble, they are retarded.

People are actually doing it, because I know of someone in my neighborhood that took a loan to gamble, with a believe that he will bet on only few games, like three odds, and when he wins, he will use the money to settle all his money problems, but at the end, he lost the bet. So why I brought this up is that I just want to make it known to you that people are doing it, those that are deeply addicted to gambling.

You may not like the idea with the loan feature by the casinos but as perfect as it's not going by your point raised I think, a gambler who wants take loan to gamble would still do it anyway even without the casino offering such feature.

At least he wouldn't have it easy to get the loan, which is likely going to be a real money loan that would be problematic to him if he loses the money.

[BlackBoss_]

People are actually doing it, because I know of someone in my neighborhood that took a loan to gamble, with a believe that he will bet on only few games, like three odds, and when he wins, he will use the money to settle all his money problems, but at the end, he lost the bet. So why I brought this up is that I just want to make it known to you that people are doing it, those that are deeply addicted to gambling.

It's how people move from their starts that can be good, bad or terrible to something worse and more terrible before ending their journeys. Gambling is basically risky but if the money used for bets is not from own money it will make gambling more dangerous.

With your own pocket money, you are greedy to bet and get more money but at least you can control your emotion, and actions better. There is no loan interest, there is nothing like if you lose that gambling capital, you will have to struggle to get it back just for making a loan repayment.

In contrast, people who borrow money will have double pressure, paying the initial loan, and paying the loan interest. With them, losing some bets will be enough to make their loan positions and financial positions change a lot and become considerable worse.

Almost the same with trading, if trading, let's trade with own pocket money, don't borrow, don't use leverages.

[Tetu100]

I don't know about others, but I see this loan features as a very bad idea because it's like encouraging addictive gambler to gamble more when he or she should have called it a day when he is out of funds.

The idea of taking loan to gamble is actually a very terrible move to take as a gambler especially nowadays that dudes can barely control their gambling habit. If I'm not mistaken gamble was supposed to be for fun and not a do or die affair. So encouraging loan or making it available for users to access at will is more of fuelling gambling addiction, and can run someone into accumulated debt over time.

Then talking about using VIP rank as collateral, is that enough to hold unto for someone that borrows $1k?
I just don't know how it works though, but I believe that borrowing money to gamble is a terrible idea for a gambler.

Personally, I can't do it not for any reason. Then again, I'm not advising anyone to do such, but the world is a very free world, anyone can choose to try it out. But if i should suggest, gambling with what we can afford to lose and also to stay away from unnecessary loan is just the best way to stay save in the game.