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[Drewm]

do you have $2000 dollars I can borrow? I will pay you back....

Hey guys, well how many times do we hear that at casino?

I was at one last night, this Bacc player whom I usually play with;matter fact he plays/bets much higher than I do...usually 800 per hand. By the time I arrived he was stuck with more than 10k plus and soon as he sees me... Can I borrow $2k? Now, he knows me better I never borrow nor ever lend money to anyone...

With that being said, how often do you guys run into people like this? And if you do what do you do? Yes or no??? Or are you the person looking to borrow money?

Share your stories....

[gr8player]

Ballys AC, probably over 20 years ago, a player that I knew came over to me after a typical session and chatted me up for a few minutes, as per usual, but then he asked to borrow $500....against my better judgement, I lent it to him, figuring I knew him well enough to know that he'd be good for it.

Never saw that player again.  Lesson learned.  A $500 mistake.  I've made mistakes that cost me a heck-of-a-lot more than that, so I simply chalk it up as just another one.  But, again, lesson learned:  "Neither a borrower nor a lender be".

[MarkTeruya]

I take it as a personal insult to be asked to loan money.  Do they think I look like a MUG, do I have STUPID or "easy touch" stamped on my forehead? I wouldn't dream of asking anybody that includes friends whom I know both inside and outside of the casino.  Just because you see me often, just because we may chat and cheer each other on, doesn't mean I'm a fool...

There are enough Chinese money lenders in casinos, go and ask them.

[greenguy]

I once had a good friend now deceased, a casino high roller, who whenever I was in need, never refused me a loan.

Over the years I borrowed money from him at least a dozen times, sometimes many thousands at once, and I was always grateful.

I always paid him back in timely fashion, and he was always grateful.

Never did I borrow and never did he lend money for gambling.

[Albalaha]

Borrowing in gambling could be a habit, a stubbornness to get back the losses or a temptation to play while not having enough money. Such borrowings often lead to higher losses than one can afford or should afford and should be avoided. At times friends having more money themselves push to take money and play. It happens but unless someone is not closed enough asking for a loan to play is simply shameful and should be avoided. Just asking loan to gamble just because someone is seeing you daily is too bad.

[Mars Rocks]

I once had a casino friend give me a story about he he was in debt to loan sharks and was paying 20% per month and wanted to borrow money off me to get out of trouble.  I told him 10% per year interest was good enough for me and I gave him $8k.  I think he spent the money on drugs and went bankrupt soon after.  I'm still pretty dismayed that he took me down with him.  He knew he was going down when he took my money and would have gone down anyway but still did it.  He avoids me like the plague now.
Well I'll get over the $8k but I also lost a friend.  Lending money is basically a bad idea, even if it sounds like you're helping someone a lot.  You aren't.  Plain and simple.
I usually wouldn't hand out money either, but I'd known this friend for quite a while.  A I said, he got me in his last days.

[NathanDetroit]

I would not trust anyone who is  applying the martingale or a similar negative progression attempting to recover losses. They are losers.


How often do I read/ hear  " " recovery stage". translation  : chasing losses.

[tdx]

I hate to say this...but I will....anyone who lends anybody money ( friend, business associate, family member, casino acquaintance etc etc etc ) is a moron and deserves all the negative results which will inevitably happen in the future.

[HunchBacShrimp]

I'm not loaning any gambler anything more than a white chip to tip the server as he throws a chip to the dealer to make change.

Other than that I've made money outside the casino loaning. And twice I've borrowed money for someone else.

It's just like gambling. You are taking a chance.  Risk vs Reward.  Some loan bets are good, some not so much.

HBS