Goated.com 🐐 | The #1 Crypto Casino | Sports | VIP Transfer✨| Rewards 🎁

[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.

[letteredhub]

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.

Obviously there are people that takes gambling like some kind of a business or an investment stuff for them making money from it with their bets. Such people don't have trouble with taking a loan to fund their 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.

There are always easy ways to get a loan, it mustn't be from the bank, even a close friend or relative could be convinced with a lie to get a loan. The only thing is that in which ever way these loans taking to be gambled with does no real good chances for the gambler then it does to the house.

[Yablee0]

I feel the risk would be low, because to have gotten the required $3,000,000 wagering requirements and the bonuses you would be getting from that rank, all of those things won't make you just abandon your account that you have used lots of effort to raise.

We never can tell what we'll happen the next minute. Someone that is mean and has bad intentions can just decide to switch to another casino just for him not to return back the money he borrow. The thing there's that, if the casino has come up with such way in reaching out to their faithful or VIP user's, they should bear in mind that anything can happen, it can be good or bad.

The only time I see them running is if the gambler has finally made up their mind to stop gambling, but if they are still gambling, then I don't think they would be that greedy that they would just throw away all they are getting from the site for some dollars. The risk is there, true, but not for all their users.

I'm happy you've seen a reasons in it. But I doubt if a gambler can just wake up one morning and quit gambling, especially those that are addicted to it, unless if maybe the dude only does it for fun.

Then again, why will a player find it difficult to return return back the funds he borrowed, that is so unfair.

[Ruttoshi]

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.

Having access to loans doesn't mean that you should abuse it because any amount of loan that you took must be paid back with interest which is the main reason why you should take loans for important financial problems and not to gamble, because you think that it's an opportunity to make more money and pay back the loan.

I see those who take loans for their gambling activities as addicted gambler because someone with common sense wouldn't do that. You don't gamble when you don't have spare funds to gamble with because gambling isn't a ompulsory thing to do.

[g3_goated]

Why is this thread created?

There is an announcement thread for Goated.
Goated.com 🐐✨ | The one-stop-shop for Degens. | Raffle, Casino + Token airdrop!

I wonder why the Goated team don't continue with that thread.

It is a different account and a different referal link

You can see the other link is https://www.goated.com/r/BITCOINTALK and here the link is https://www.goated.com/r/BTCTALK

Can we confirm which is the real goated? Maybe this is a account that wants to get registers with his referral link?

https://bitcointalk.org/index.php?topic=5593480.msg67121593#msg67121593 - This is the only Official page of Goated! yes the referral link looks a bit similar though  

This is interesting, I have never seen a casino provide a loan for their players, maybe there can be other casinos with similar program I've missed.
I have no idea how it works but looking at the information above, the collateral is a pending rewards which I cant really understand about it.
Are these pending rewards refers to upcoming rewards that might be received by players such as level up bonus, monthly bonus etc?
How if players decided to stop playing and withdraw the money after getting the loan which means there is low possibility of pending rewards?

Goated Loans are only available for high VIP ranks at the casino. So you already have to be an established player. Someone with at least $3,000,000 in wagers, meaning plenty of deposits and cash to throw around. According to their own estimates, such a rank earned you over $400 in bonuses plus over $1,000 in rank-up rewards. I am sure they have rules in place that protects them against someone taking out a loan and running away or at least minimizes such a risk. Maybe you need to keep a certain balance in your account for the duration of the loan as well and only a part of the collateral is covered from future rewards.

One thing I noticed about this casino is that before they allowed someone to loan from their platform the said gambler must have loose seriously couples with the person being in their VIP rank.
The said amount which you mentioned above is extremely high, I would want to know how this is being calculated, because it's actually hard for someone to deposit up to that amount, even as some people do not go higher than 100$ per week.
Is it the total amount deposited and the amount wagered, lose and win, the commutative of all gives the total submission of someone being into the VIP rank?

Hey! Goated Loans let Sapphire VIPs and above borrow against their pending rewards when available. The loan amount is always capped at what they have available and they have a feature on site to repay it too, and eligible players can get it activated through their VIP host.

Full details here: https://www.goated.com/help/article/10714136-goated-loans

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.

Having access to loans doesn't mean that you should abuse it because any amount of loan that you took must be paid back with interest which is the main reason why you should take loans for important financial problems and not to gamble, because you think that it's an opportunity to make more money and pay back the loan.

I see those who take loans for their gambling activities as addicted gambler because someone with common sense wouldn't do that. You don't gamble when you don't have spare funds to gamble with because gambling isn't a ompulsory thing to do.

I understand the concern, and responsible play always comes first. Goated Loans are not an external cash loan or credit facility with interest - they allow eligible Sapphire VIPs and above to borrow only against their future/pending rewards.
The amount is capped by those pending rewards, and any unpaid balance is deducted from future rewards. It should never be treated as a way to chase losses or gamble beyond what someone can afford.


Full details here: https://www.goated.com/help/article/10714136-goated-loans

Goated Loans let Sapphire VIPs and above borrow against their pending rewards when available. The loan amount is always capped at what they have available and they have a feature on site to repay it too, and eligible players can get it activated through their VIP host.

Full details here: https://www.goated.com/help/article/10714136-goated-loans

Why is this thread created?

There is an announcement thread for Goated.
Goated.com 🐐✨ | The one-stop-shop for Degens. | Raffle, Casino + Token airdrop!

I wonder why the Goated team don't continue with that thread.

Hey! https://bitcointalk.org/index.php?topic=5593480.msg67121221#msg67121221 is the only Official page for Goated.com

[Mrbluntzy]

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 requirements that can make a player eligible for this loan is not so simple that anyone will just take the loan or become compulsive because of the loan feature. I would have agree with you had it been that this loan feature allows everyone both old and new customers to access the loan but every customer is not eligible for this loan except for Sapphire VIP member and I just noticed that before you can attain that VIP rank, you are expected you ha e wagerd $3m. Someone who successfully wager up to $3m is not just a random inconsistent gambler but a full time gambler who already knows the cons and pros of gambling addiction. The feature is not bad in my opinion because it's not accessible by all rank of player.

[Bushdark]

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 requirements that can make a player eligible for this loan is not so simple that anyone will just take the loan or become compulsive because of the loan feature. I would have agree with you had it been that this loan feature allows everyone both old and new customers to access the loan but every customer is not eligible for this loan except for Sapphire VIP member and I just noticed that before you can attain that VIP rank, you are expected you ha e wagerd $3m. Someone who successfully wager up to $3m is not just a random inconsistent gambler but a full time gambler who already knows the cons and pros of gambling addiction. The feature is not bad in my opinion because it's not accessible by all rank of player.

When it comes to crypto space, becoming eligible for a loan has it one terms and requirements. Even though a player KYC has been taken, its not still enough to become eligible so the giver does not go bankrupt due to the players that have taken the loan and unable to pay back. Raising the eligibility to VIPs can be understandable because you must have gambled hundreds of time on the casino to acquire that level. Trust is also important when giving out a loan, you can not give a random people loan when you don't trust them or when they have not passed your test of eligibility.

[Mrbluntzy]

Trust is also important when giving out a loan, you can not give a random people loan when you don't trust them or when they have not passed your test of eligibility.

If they do this lending by trust, they are going to lose their money because even the person they trust so much can disappoint and disappear but the criteria that used in measuring eligibility is what help to protect the company from losing money in this loan feature. Every other company have the criteria they use too, some of them could demand for collateral without interest but just the management fee but once the value of your collateral drops to a certain percentage, it will be liquidated and used to cover your debt. Non have I seen doing this kind of thing based on trust, there is always terms and conditions that benefits the company.

[Bushdark]

Trust is also important when giving out a loan, you can not give a random people loan when you don't trust them or when they have not passed your test of eligibility.

If they do this lending by trust, they are going to lose their money because even the person they trust so much can disappoint and disappear but the criteria that used in measuring eligibility is what help to protect the company from losing money in this loan feature. Every other company have the criteria they use too, some of them could demand for collateral without interest but just the management fee but once the value of your collateral drops to a certain percentage, it will be liquidated and used to cover your debt. Non have I seen doing this kind of thing based on trust, there is always terms and conditions that benefits the company.

I want you to understand that trust is earned and it's not something you give to someone that have not earned it through consistency with the several small loan they have been given in the past. If you look at those companies or banks that are giving out loan to their customers, they mostly start with small loans to know if you will be able to pay them without defaulting when they are going to give you a big loan that worth thousands or millions. This is how trust is earned and it's not something that will be earned in days or weeks, it most take enough time to know those that can be consistent and able to pay the loan they have collected.

[Mrbluntzy]

Trust is also important when giving out a loan, you can not give a random people loan when you don't trust them or when they have not passed your test of eligibility.

If they do this lending by trust, they are going to lose their money because even the person they trust so much can disappoint and disappear but the criteria that used in measuring eligibility is what help to protect the company from losing money in this loan feature. Every other company have the criteria they use too, some of them could demand for collateral without interest but just the management fee but once the value of your collateral drops to a certain percentage, it will be liquidated and used to cover your debt. Non have I seen doing this kind of thing based on trust, there is always terms and conditions that benefits the company.

I want you to understand that trust is earned and it's not something you give to someone that have not earned it through consistency with the several small loan they have been given in the past. If you look at those companies or banks that are giving out loan to their customers, they mostly start with small loans to know if you will be able to pay them without defaulting when they are going to give you a big loan that worth thousands or millions. This is how trust is earned and it's not something that will be earned in days or weeks, it most take enough time to know those that can be consistent and able to pay the loan they have collected.

I totally understand the concept of this "trust" Thing you brought up, but you are mixing it up, mate, by comparing the loan that an offshore casino is offering to the loan that banks offer, these are different sectors and different modes of operation. You can access loan facility of banks in your country and not in another country and that bank already have your information in their system and also knowns your address and they can reach you with ease, secondly you will still have to meet their requirements to be eligible and it's not trust that makes them increase your offer but rather your credit score.
Without deviating so much, the casino has her own method and they will do it in such a way that they won't lose money.

[Queentoshi]

The feature is not bad in my opinion because it's not accessible by all rank of player.

I consider it as a well thought out decision to make it a feature not available for everyone. Loans are always tempting even for people who are not used to them, they could suddenly switch up and become chronic debtors who show you a money side you have not seen before.

the casino has her own method and they will do it in such a way that they won't lose money.

For any gambler who has achieved the level to be eligible for this loan option, asides Gambling, they are individuals who have been able to manage their debt properly because I don't think anybody is free from debt, the richest people have the biggest debt so being in debt for such an amount in a casino may not be something that they are not use to handling and the casino has this knowledge to allow their eligibility.

[Barikui1]

I totally understand the concept of this "trust" Thing you brought up, but you are mixing it up, mate, by comparing the loan that an offshore casino is offering to the loan that banks offer, these are different sectors and different modes of operation. You can access loan facility of banks in your country and not in another country and that bank already have your information in their system and also knowns your address and they can reach you with ease, secondly you will still have to meet their requirements to be eligible and it's not trust that makes them increase your offer but rather your credit score.
Without deviating so much, the casino has her own method and they will do it in such a way that they won't lose money.

They are not going to lose money because it's not a real money loan that I initially thought of, but the only disadvantages of such thing is that it's another way of encouraging addictive gambler to gamble more, instead of them to call it a day when they are out of funds. As I have said already in the past, it is a nice initiative to those that are making use of it the right way, but to those that are already an addict, it will become a serious problem to such people.

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.

[Mrbluntzy]

I totally understand the concept of this "trust" Thing you brought up, but you are mixing it up, mate, by comparing the loan that an offshore casino is offering to the loan that banks offer, these are different sectors and different modes of operation. You can access loan facility of banks in your country and not in another country and that bank already have your information in their system and also knowns your address and they can reach you with ease, secondly you will still have to meet their requirements to be eligible and it's not trust that makes them increase your offer but rather your credit score.
Without deviating so much, the casino has her own method and they will do it in such a way that they won't lose money.

They are not going to lose money because it's not a real money loan that I initially thought of, but the only disadvantages of such thing is that it's another way of encouraging addictive gambler to gamble more, instead of them to call it a day when they are out of funds. As I have said already in the past, it is a nice initiative to those that are making use of it the right way, but to those that are already an addict, it will become a serious problem to such people.

Oh, yea, that's true, I was also thinking that this feature is like getting a real cash loan but now I realized it's different, however something is still not clear to me. If for example, an eligible customers collected $1k loan and play with it and he or she luckily wins $1500, the casino takes back their $1k loan, right? How about if customer lose all the money or only won $300, that means Goated casino will take just the $300 win that the customer got and the customer's account will still be in -$700, is that not how it works? I need clarity on it.

[leonair]

Trust is also important when giving out a loan, you can not give a random people loan when you don't trust them or when they have not passed your test of eligibility.

If they do this lending by trust, they are going to lose their money because even the person they trust so much can disappoint and disappear but the criteria that used in measuring eligibility is what help to protect the company from losing money in this loan feature. Every other company have the criteria they use too, some of them could demand for collateral without interest but just the management fee but once the value of your collateral drops to a certain percentage, it will be liquidated and used to cover your debt. Non have I seen doing this kind of thing based on trust, there is always terms and conditions that benefits the company.

I want you to understand that trust is earned and it's not something you give to someone that have not earned it through consistency with the several small loan they have been given in the past. If you look at those companies or banks that are giving out loan to their customers, they mostly start with small loans to know if you will be able to pay them without defaulting when they are going to give you a big loan that worth thousands or millions. This is how trust is earned and it's not something that will be earned in days or weeks, it most take enough time to know those that can be consistent and able to pay the loan they have collected.

I totally understand the concept of this "trust" Thing you brought up, but you are mixing it up, mate, by comparing the loan that an offshore casino is offering to the loan that banks offer, these are different sectors and different modes of operation. You can access loan facility of banks in your country and not in another country and that bank already have your information in their system and also knowns your address and they can reach you with ease, secondly you will still have to meet their requirements to be eligible and it's not trust that makes them increase your offer but rather your credit score.
Without deviating so much, the casino has her own method and they will do it in such a way that they won't lose money.

The matter of loans definitely comes from trust. A person's loan limit is given based on reputation. The issue of bank loans is different because a loan is taken from the bank using one's personal documents and by keeping some asset as collateral. If you take a business loan, you have to clearly show the business documents and the good of the business. Again, in the case of personal loans, you often have to keep collateral. And from these aspects, the bank is sure that they will definitely be able to return that money from the customer with interest. But it will be quite difficult for casino platforms to handle these issues. Although they can demand KYC from the customer when giving loans, it never ensures that the user will return the loan. Because it is almost impossible to verify government documents from one country to another. And many can do fake KYC. So, considering everything, if a casino platform gives a loan to a user, it will be very difficult for them to recover it properly. But of course, there may be some secrets in their business model through which they are not afraid to do this.

[khaled0111]

^^
Please stop this discussion about Goated loans if you didn’t even bother to read the terms on how to get them. Getting a loan from Goated has nothing to do with trust and it certainly has nothing to do with the loans you can get from a bank, they have nothing in common.
Please read Zwei's reply to understand how Goated loan service works.
I'm really surprised to see many members (who are supposed to be legendaries) arguing about something they don’t even understand how it works.

[g3_goated]

-snip-

Goated Loans are only available for high VIP ranks at the casino. So you already have to be an established player. Someone with at least $3,000,000 in wagers, meaning plenty of deposits and cash to throw around. According to their own estimates, such a rank earned you over $400 in bonuses plus over $1,000 in rank-up rewards. I am sure they have rules in place that protects them against someone taking out a loan and running away or at least minimizes such a risk. Maybe you need to keep a certain balance in your account for the duration of the loan as well and only a part of the collateral is covered from future rewards.

$3M wager means Sapphire 1 level but with their VIP transfer program, this level can be achieved with $250k wager only but of course someone need to have an account in other casino with $3m or more wager stats.
Checked their help center and I found a bit more information about this loan program, it is written that there is no exact formula about how much someone can request a loan so I guess betting history (deposit and wager) will have a big impact on the calculation.
No information about min and max duration of the loan as well so it must be something negotiable upon request through the VIP host.

Hey! the Goated loans are only given out to players who are sapphire and above, we don't give out loans more than what they are eligible, its mainly against they are pending reward.

https://www.goated.com/help/article/10714136-goated-loans

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.

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,

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)

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.

Yes, these aren’t actual loans like a bank would provide. Goated offers loans to Sapphire+ players, and the loan amount is essentially based on their future rewards. So they can’t take out more than what they’re eligible.

~ This is interesting, I have never seen a casino provide a loan for their players, maybe there can be other casinos with similar program I've missed. ~snip~

This is really interesting, and BetFury was also having a loan feature for its users. They have discontinued it 6 months ago. 'Zwei' had mentioned another casino name with a loan feature while we were discussing it in BetFury ANN thread. That platform was also using users VIP rank as collateral for the loan. Seems like it will work similarly at Goated.

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.

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.

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. Okay, so it's some kind of better to getting that loan from the casino itself than getting it elsewhere where you gonna be faced with pressure of paying back at an agreed time, when for the casino it might be only whenever the gambler makes a deposit again... No pressure of paying back.

I think the main difference with Goated is that these aren't traditional loans where a player can borrow money beyond what they can afford to repay. The loan amount is based on their future rewards, so players can't take more than what they're eligible to receive.

It's more like an advance on rewards they're already expected to earn, rather than giving someone $1k of extra money to gamble with. That said, I agree that lending money for gambling can be a sensitive topic, which is why the amount is limited based on the future rewards.

here are all the details - https://www.goated.com/help/article/10714136-goated-loans

This actually means for you to get the loan you must have spent huge amount of money gambling on the casino.
There is no way a casino will just wake up and create a loan option for the customers just like that, when I saw the news I already knew to get the loan you most have spent a lot on the casino site.
 
Creating the loan option is actually very good however, since it’s just for VIPs, I believe it is also a way to attract or make people to use the casino more often so they can get to a point they can be eligible for the loan.

This is the first time I am seeing a casino giving out a lending hand's to their customers, I mean the VIP once, that's amazing. However, this innovative idea is enough to attract more user's to it because it's just so unusual seeing this taking place.

But if I may ask, I don't know if I can get clarity on this. Is the player I mean the person that took the loan if it's mandatory he must use the money to gamble back to the casino or he's free to walk away with it pending on when he will pay back the loan. I am just curious if that can be possible?

You mean online casino right? Because loan is very common on physical casino especially on VIP players since some gamblers preferred to go on casino without cash or they just want to extend their line of credit.

However, this is very uncommon in online casino specifically crypto casino because user can run away while online casino operates on different country.

I’m skeptical on how this loan work but I believe it might need some collateral or just very limited based on the VIP level.

Hey! here is how Goated loans work if anyone is wondering - https://www.goated.com/help/article/10714136-goated-loans