Borrowed money

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Ruslan L

Ruslan L

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Most of us probably know very well how it feels to lose more than we can afford. But there are cases when a player does something exceptionally stupid and loses money that he borrowed, or money that does not belong to him. I have several acquaintances who took out loans for business, repairs, or to buy a car, and then lost that money in literally one evening.
Has this ever happened to you?
And how much did you lose?
One evening, I lost $4,000 playing slots, $700 of which was mine and $3,300 was money belonging to the company I worked for. The next day, I called work and said I was sick, but instead I went to the bank to take out a loan. I paid off the loan over the next five months. It was an incredible evening, and the reason for all this was essentially alcohol.
 
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For my work I work with fraud cases. The most serious case I had in 10 years was a employee in a medium sized company who solely did the finances for the director.

Over a period of 3 years he embezzled over 300k in funds through filing false bills. Wiring them from the company through his own account. This is where he gambled everything away in an offshore online casino. Being the only financial person there he could do this for so many years, betraying all the trust he had.

I could not believe my eyes. 😳

This is why you should have a 4 eye or 6 eye check for big transactions.
 
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I once borrowed money from my mother to invest in stocks, and it failed. I never thought about taking that risk again.
 
Me personally i never borrow money to play games that require money and i also never lend money to other people for play such games.
 
I will never borrowed minoy again in my life, i feel so unlucky after that.
 
Ruslan L said:
Most of us probably know very well how it feels to lose more than we can afford. But there are cases when a player does something exceptionally stupid and loses money that he borrowed, or money that does not belong to him. I have several acquaintances who took out loans for business, repairs, or to buy a car, and then lost that money in literally one evening.
Has this ever happened to you?
And how much did you lose?
One evening, I lost $4,000 playing slots, $700 of which was mine and $3,300 was money belonging to the company I worked for. The next day, I called work and said I was sick, but instead I went to the bank to take out a loan. I paid off the loan over the next five months. It was an incredible evening, and the reason for all this was essentially alcohol.
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You are sick, my friend, and this disease is called ludomania.
 
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I used to loan a guy money for poker and then I would see him playing $250 6max hypers without a care in the world. He just kept grinding up his roll to lose it all in minutes, then he was off to beg or borrow for his next sng. The guy lived his whole life this way and it caught up to him.
 
I’ve never really borrowed money for poker, and honestly I don’t think I would. The swings can be brutal, and losing someone else’s money would feel way worse than losing my own. I’d rather just play within my bankroll, even if that means sticking to freerolls or micro stakes. Do you guys think borrowing for poker is ever worth it, or is it always a bad idea?
 
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Ruslan L said:
One evening, I lost $4,000 playing slots, $700 of which was mine and $3,300 was money belonging to the company I worked for. The next day, I called work and said I was sick, but instead I went to the bank to take out a loan. I paid off the loan over the next five months. It was an incredible evening, and the reason for all this was essentially alcohol.
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Yeah man, alcohol does not associate with any kind of game where you need to use your brain.
But personally, I could tolerate drinking while playing Slots because I consider that playing for fun. The problem is to know how much money you're willing to pay for the enjoyment. And as it's been said many times in the recent posts, one should determine in advance the amount they can afford to lose before sitting in front of a machine.

As to myself, I also once lost some money I shouldn't have. In my "newbie" days, I lost $900 in a couple of hours playing blackjack without knowing what the game was about. My rent ($800) was due and that could've paid it. Hopefully I had a little money left in the bank.
 
"The only Person i would lend money is the person who does not need it"

Funny quote from another poker forum. Thought i share it here.
 
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I have never spent my own money on gambling, and I am not going to do so. If there are “intellectual” players who can afford to take out a loan and lose that money, then I can say that they fully deserve it 🙂
 
mclay said:
You are sick, my friend, and this disease is called ludomania.
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Not necessarily, if it only happened once it might have been just a drunken escapade .

If it becomes a repeated pattern , yes then it's ludomania
 
Advice! Don’t borrow money to gamble, because you will play stressed, thinking that if you lose it, where will you get more money to pay it back! On the other hand, if you know you have money coming from business, sales, stocks, etc., you can play calmly, as you’ll be able to repay the loan easily. The safest is to play when you have money in your account without any debts: rent, utilities, loans, bank installments, etc.
 
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Brigistul said:
Advice! Don’t borrow money to gamble, because you will play stressed, thinking that if you lose it, where will you get more money to pay it back! On the other hand, if you know you have money coming from business, sales, stocks, etc., you can play calmly, as you’ll be able to repay the loan easily. The safest is to play when you have money in your account without any debts: rent, utilities, loans, bank installments, etc.
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That's very true! If you own money from businesses or other incomes that you can lose without any regrets then this is a big benefit.
 
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I play cents and 1$ max per bet , I have strict brm , I have no need of loans or any other kind of financial help to keep on playing casino or poker or anything else . I play for fun and small profits , not for big life changing money , that illusion can drive sb on tilt all the time or broke some day .
 
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I have never been in such situations. But I also know many people who have lost money that was not theirs. My classmate, who had been a good friend to me for a long time, lost money that was needed for his relative's medical treatment. After losing, he called all his friends to borrow money for the treatment, but in the end, he continued playing on slots and lost all the money he had borrowed from his friends.
 
Ruslan L said:
Most of us probably know very well how it feels to lose more than we can afford. But there are cases when a player does something exceptionally stupid and loses money that he borrowed, or money that does not belong to him. I have several acquaintances who took out loans for business, repairs, or to buy a car, and then lost that money in literally one evening.
Has this ever happened to you?
And how much did you lose?
One evening, I lost $4,000 playing slots, $700 of which was mine and $3,300 was money belonging to the company I worked for. The next day, I called work and said I was sick, but instead I went to the bank to take out a loan. I paid off the loan over the next five months. It was an incredible evening, and the reason for all this was essentially alcohol.
Click to expand...
I haven't had that experience yet! This business of borrowing money to try to recover the value is a shot in the foot, especially because you will probably commit yourself in the long term and generate even more losses.

And if alcohol is combined with gambling, it can create a dangerous relationship that can impair judgment and lead to impulsive decisions, increasing the risk of developing or worsening a gambling addiction.

It's important to gamble responsibly. This involves setting time and money limits and never using essential funds.
 
Anyone who cannot set limits for themselves should avoid all forms of gambling.
 
Ruslan L said:
Most of us probably know very well how it feels to lose more than we can afford. But there are cases when a player does something exceptionally stupid and loses money that he borrowed, or money that does not belong to him. I have several acquaintances who took out loans for business, repairs, or to buy a car, and then lost that money in literally one evening.
Has this ever happened to you?
And how much did you lose?
One evening, I lost $4,000 playing slots, $700 of which was mine and $3,300 was money belonging to the company I worked for. The next day, I called work and said I was sick, but instead I went to the bank to take out a loan. I paid off the loan over the next five months. It was an incredible evening, and the reason for all this was essentially alcohol.
Click to expand...
Pfff...


I have never lost more than I can afford + never borrow money (for anything) + if you work for my company, I would catch you + some Serbian guys would beat your ass...lol

You don't do that, did you see where is a problem? 🙂
 
I've never used borrowed money to gamble, but I've heard so many stories and witnessed so many absurdities that they served as a lesson.
 
I have lost money that did not belong to me many times. A few times I even risked going to jail because of the loans I had. Of course, I didn't take out loans to gamble at the casino, but in most cases it just happened somehow. But that was a long time ago, more than 20 years ago, when I was still quite young and often did stupid things.
 
It is obvious that such problems arise in most cases in people who have an addiction. Otherwise, if such a player does not have an addiction and simply does such stupid things, then it is obvious that he has serious mental health issues.
Addiction is essentially a mental health issue, but addiction is one problem, and mental health issues in general are another, and in my opinion, a more serious problem.
 
I have a very negative attitude towards loans, I have never taken one and do not intend to. But sometimes I can borrow money from a friend, and if, say, out of the $100 I borrowed, I spend $10 on slots, then, to be honest, I don't see anything wrong with that 🙂
 
never gambled with money that wasn't mine, but rule #1 for me is never touching the tables when I've had too much to drink. alcohol and gambling is literally the worst combo, your brain just completely turns off risk management lol.
 
I’ve never gambled with borrowed or someone else’s money, and I think that’s a line I wouldn’t want to cross. Losing your own money is bad enough without adding debt.
 
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