Loans Is it good and save to Collect Loan to Gamble?.

Mataracy

VIP Contributor
To me I believe that gambling is a very highly risky game which one should not try to use any thing like Loan to play at all.

Risk can be well measure before one invest in such a business but the reverse is the case this days
Many people do not border to look at the risk involved in using loan to play gambling.

Recently a friend of mine came to me that he has collected loan and he will like to use it play Sure Game or Fixed game so that he can get good money from it. But i told him not to ever try that because gambling is a very risky game which one can not know may it will favour some one or not.

But instead of taking my advise he took it so personal that we nearly fought on that day..

So please is it good and save for some one to collect loan and use it to Gamble?
 

moonchild

VIP Contributor
You gave him a very good advise @Mataracy, collecting loan to even start a business looks sketchy to me talk less of using it to gamble, I'm sorry to say that's a very bad and disgusting idea.

Loan is suppose to be used to cover a pressing need, like school fees when deadline is approaching, health bills, purchase of food or buying a machinery or inventory that'll help in expanding a business.

Recently, there's a wave of new gambling companies springing up from every corner of the country, many people think they can escape poverty by gambling, it's a very bad way of thinking because gambling can only deepens one root in poverty and make him hopeless, hence religions prohibits it.
 

Sherman198

VIP Contributor
That's a very risky venture, borrowing money to gamble. Gambling is a game of luck which you means you are not sure if you are going to win or not! So it will be a great loss if you actually play or gamble with that kind of money and you never won.
 
D

Deleted member 28127

Guest
It is not even recommended to gamble even with your own money because what is happening exactly is consecutive losses every time and small wager or earn if you calculate what you bet and what you win you will find yourself losing money consecutively.
 

Mika

VIP Contributor
If you get a loan to gamble and if you lost yout bet, how are you going to pay back your loan. Even when you win, you don't win every day, you will also be losing. IN fact when you gamble, you will be losing your bet more often than winning your bet. If you fail to pay your loan, the banks o lenders will try to get it back by auctioning your property, you will reach turn into a homeless man with no home to live in and no food to eat. You will end up becoming a begger.
 

Kingsley

Valued Contributor
Sounds so Funny, just like the selling of your bed for trouble to buy for almost free. It is even risky to borrow money to do a legal and productive business let alone using it for gambling. Gambling is something we shouldnt eben attempt with our hard earn money let alone do with someone's money, most especially borrowed money. I will never advice my enemy to use borrowed money for gambling. Neither will I ever use borrowed money to gamble for whatever reasons. I have engaged in somany kinds of business both online and offline and from experience borrowed Money is not always the best.
 

Yusra3

VIP Contributor
Owning (acquiring) a loan only (just) to play is completely risky and not to be suggested. Gambling is by nature tied to the possibility of losing money, and it is not certain that of winning, and with loans you must always pay the interest regardless of the outcomes. These re-volving loan patterns thus continue to exacerbate and snowball to an unmanageable stage of the borrower. Regardless of any lender as long as you want avoid loan default and financial ruin prefer being able to build your own emergency fund for the unexpected one and pay your gambling charges at reasonable rate. Finance or your budget to be top of the list rather than your money on debt.
 
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