Advice Needed.

LostBankroll · Jan 4, 2010

So ive been thinkin lately about applying for a loan/ line of credit. The reason is becuase My bankroll at the moment wont allow me to wager bigger ammounts that I desire. Now I have a part time and go to school. So my question to you would be "Is it wise for me to get a loan/credit line for gambling purposes?" Now all im seeking is 2-3 grand. And no I wont be gambling it all at once. Money management will is key. Im thinking that after I have enough to pay the loan back that I would as long as I have a sufficient bankroll to play with. I know the interest will be tough but I think I need to this ASAP because my money is really fucked right now and saving a couple of paychecks wont do me anygood right now. Sorry for the long read, Thanks rx.

:smoking:

Soriano12 · Jan 4, 2010

I would say: Never ever loan money for gambling purposes. Do only play with your own money and money, you can afford to lose.

Redagger029 · Jan 4, 2010

Not a good idea to borrow money for gambling or drugs. It's a rule I've always had and it will protect you.

MikeB · Jan 4, 2010

Redagger029 said:
Not a good idea to borrow money for gambling or drugs. It's a rule I've always had and it will protect you.

Agreed, well, minus the drugs of course. My advice to you is to always borrow money for that as nobody can repossess the drugs after you take them.

J/K of course. Never borrow money for that. You will only regret it in the long run.

billpapa · Jan 4, 2010

Why don't you just wait while saving money for a new bankroll. In the mean time you can use the time you will have in your hands by not gambling to learn a bit about betting. Borrowing money to do something whose outcome is uncertain, especially when you are not knowledgable in it, is foolhardy to say the least. On second thought just forget about gambling and work on your studies.

Betallsports · Jan 4, 2010

Never Borrow to gamble. :>(

cincy_ · Jan 4, 2010

Apply for a huge line of credit.

Keep looking for a lock

Once you see the lock, take out 3 grand, wager it, return the principle.

If you lose, it's ok ... just rinse and repeat.

PS: Just don't do this with your own money .... you need to do it with someone else's money ... like the people on Wall Street.

TomGshotput · Jan 4, 2010

Redagger029 said:
Not a good idea to borrow money for gambling or drugs. It's a rule I've always had and it will protect you.

If your addiction is so strong that you truly put more value on your next high more than a lifetime of financial security, why wouldn't it be a good idea?

Card32 · Jan 4, 2010

Just save up for next football and basketball season, because if you go on a bad streak with the money you loan then you will be out the game even longer while you pay the loan back and trying to save a new bankroll. Sometimes its good to take a break anyways gives you time to come with new strategies for money management and you wont have to chase. GL Bankroll

Bennyshoe · Jan 4, 2010

I would agree with what most said. Don't take out a loan to gamble. If you lose it all, you're paying the loan plus interest. Very bad.

G$$ · Jan 4, 2010

Soriano12 said:
I would say: Never ever loan money for gambling purposes. Do only play with your own money and money, you can afford to lose.

right on. thats good advise

JudgeWapner · Jan 4, 2010

Bad idea.

Defying · Jan 4, 2010

Card32 said:
Just save up for next football and basketball season, because if you go on a bad streak with the money you loan then you will be out the game even longer while you pay the loan back and trying to save a new bankroll. Sometimes its good to take a break anyways gives you time to come with new strategies for money management and you wont have to chase. GL Bankroll

Best Advice

LostBankroll · Jan 5, 2010

I appreciate everyones input on this matter. Ive been on a 3 week long break from gambling and it feels real good not having to sweat a game. Its like I cant accomplish what I want out of gambling by wagering $100 a game, Because if I lose it, it could of done me good to have the money for school etc. So thats the reason for me looking for the loan. Im leaning on taking the loan though. I know borrowing for gambling is semi retarded but I wanna give this a shot. Thanks rx.

hoopsct · Jan 5, 2010

dont do it

bankroll i would suggest not to take the loan because-hereswhat happens you say i will just do it once and next thing you know you have 4 loans and have trouble paying and life is rough .but if you are going to do it you must manage your mony well 3,000 bankroll should be wagering 25.00 dollars per game.if you do win dont go party with the mony makesure you pay the mony back.i am 50 years and been gambleing on sports since i was 10. hit a 8 team slip for a buck when i was10.i have a wealth of knowledge about sports wagering and i will tell you the most important is the line tells you everything you must know how to read it. 2nd halfes are a good way to play.get your education at school is the most important thing in world.peace

Dante · Jan 5, 2010

oh no not another one of these threads.... of course you know the answer DO not do it

cincy_ · Jan 5, 2010

Part Two of this thread will be out in July and will read "Are there any good credit shops in NW Washington DC?

Part Three will talk about how to negotiate payment plans with the man.

Part Four will quote Camus, and discuss the value of human life. It will be titled, "Is life worth living if you're $75,345.67 in debt?"

YourAllAmerican · Jan 5, 2010

Do this: take out a loan for half the amount you're considering, then flush that cash down the toilet. You'll lose everything in both cases, but this way you'll only lose half as much and you'll save time.

How do I know you'll lose everything? The fact that you're even considering betting on borrowed money tells me you don't have even the most basic discipline required to stay in the black with wagering.

Harsh, yes, but everyone on this forum who's seriously bet for more than two or three years knows the truth there.

Mr_Mark · Jan 5, 2010

LostBankroll said:
I appreciate everyones input on this matter. Ive been on a 3 week long break from gambling and it feels real good not having to sweat a game. Its like I cant accomplish what I want out of gambling by wagering $100 a game, Because if I lose it, it could of done me good to have the money for school etc. So thats the reason for me looking for the loan. Im leaning on taking the loan though. I know borrowing for gambling is semi retarded but I wanna give this a shot. Thanks rx.

I took a break about 2 years ago, and I remember the feeling of relief watching the games and not sweating it out. Just like you said. But I jumped back in after one year off. I would take a little more time off and focus on life school and everything else and then make your come back if you still feel like you want too. My best year financially was my comeback year, time off maybe good every now and then. For Sure though do not take a loan to gamble. Best of luck to you bankroll let us know how it goes

Redagger029 · Jan 5, 2010

TomGshotput said:
If your addiction is so strong that you truly put more value on your next high more than a lifetime of financial security, why wouldn't it be a good idea?

:monsters- You answered your own question when you said "addiction".