Loaning Money to Degenerate Gamblers???

[lyon804]

Guys I have been on a role lately with my sports wagering ventures. I have this friend who knows about my success and wants to borrow some money. Him borrying money from me is a first. This is a first because he recently got married and money is tight and wife is watching his moves nows. He is a very proud person and mostly full of shit so I am currently putting him through on a loan. He promises me he will pay me back. He keeps asking for the money in a desparate manner. It's really troubling for me to here this over the last few days, but at the same time comical. I guess that is the reason I haven't spotted him some coin.

If you are ever in his position don't ask your friend desparately for money. It is very uncool. This has totally changed the way I look at our friendship. I am not sure I want to be associated with this person anymore. A degenerate gambler is a very uncool thing. I always new he was a degenerate, but never has he asked me for money. A degenerate gambler is someone that constantly bets like him and thinks he is much better than he really is. He is also a chaser.

In the end if I let him borrow the money he will lose it within a week or 10 days. He is only requesting $1,000 and promises he will pay me back by after the first of the year. I don't think I am helping him by facillating his degenerate habits. Any thoughts or comments?

[lakerboy]

Dont give it to him.

[lyon804]

Dont give it to him.

Why? Because you don't think he will pay me back or because I am not helping him by giving him money?

[HotStreak]

Whether you give the money or not, the relationship likely takes a turn for the worse. In the future, save yourself the trouble, and never brag about how much money you have. It only invites awkward situations.

Keep your business to yourself.

Best of luck.

[byronbb]

Why? Because you don't think he will pay me back or because I am not helping him by giving him money?

Both

[lyon804]

Whether you give the money or not, the relationship likely takes a turn for the worse. In the future, save yourself the trouble, and never brag about how much money you have. It only invites awkward situations.

Keep your business to yourself.

Best of luck.

Your so right! I have tried to do this. He is always pressing me for what I like and what I am playing.

[tullamore]

Just realize that once you lend money to your friend, your relationship will be different.

[lakerboy]

Why? Because you don't think he will pay me back or because I am not helping him by giving him money?

He will lose it and then delay it and so on. Money destroys friendships. I lent a friend $3k and he promised me he would pay me in 3 months. It took him 6 months and I had to ask for it.

[tullamore]

He will lose it and then delay it and so on. Money destroys friendships. I lent a friend $3k and he promised me he would pay me in 3 months. It took him 6 months and I had to ask for it.

I was in a similar situation, always got the "what you dont think I am good for it when I asked?"

[jgiun1]

Can I borrow 100 points....I swear I will stay out of the SBR casino and I hate 3 card poker.........

[RiverRaid]

You guys have shitty friends. My friends pay me back every time.

[iceminers26]

Situations like these always suck and the majority of the time end badly.

One week in college I had an unreal week during the college bball tourney, well 2 of my buddies on another account had a poor week, so they asked if I would cover it and they would pay me back, years later and I'm still 6k short....friends, gambling, and money don't mix well.

[lyon804]

Just realize that once you lend money to your friend, your relationship will be different.

He will lose it and then delay it and so on. Money destroys friendships. I lent a friend $3k and he promised me he would pay me in 3 months. It took him 6 months and I had to ask for it.

I think you are both right on this one. I am in a bad spot mostly by my own undoing. Always been too open with him. Hell, he is my best friend. Never saw this coming. I have know the guy for almost 15 yrs and has never, never, ever asked me for money. Now, not only is he asking me for money, but he asking for money to gamble with... Not keep the power on or food on the table, but just to gamble and inevitably lose. Shitty situation. I am on a big ------EV here.


Lend $1,000

Lose it all within 2 weeks -600
Doubles it within 2 weeks +450


It's either or. No in between with him... All or nothing. No BR management... Just chase until I hit mentality.

[lyon804]

Situations like these always suck and the majority of the time end badly.

One week in college I had an unreal week during the college bball tourney, well 2 of my buddies on another account had a poor week, so they asked if I would cover it and they would pay me back, years later and I'm still 6k short....friends, gambling, and money don't mix well.

Ouch! Bad ---EV spot

[Dunder]

A serious topic in PT?

You would be well advised to tell him no and be honest with the reason why.

If you do lend him the money, even in the best case scenario i.e. he wins and pays you back, he will be back for another loan in a month or two. Eventually he won´t be able to pay back and your friendship and maybe your money is gone.

[jgiun1]

I wouldn't give a guy that gambles a nickle....I know some very sick poker machine and slot people from very wealthy backgrounds that are 100% cut off because they screwed paying back so many times, and that's family.

[wal66]

What's the new wife look like?





Might be worth the loss.

[iceminers26]

What's the new wife look like? Might be worth the loss.

[lyon804]

A serious topic in PT?

You would be well advised to tell him no and be honest with the reason why.

If you do lend him the money, even in the best case scenario i.e. he wins and pays you back, he will be back for another loan in a month or two. Eventually he won´t be able to pay back and your friendship and maybe your money is gone.

Your right, but I have decided to do the wrong thing most likely. I will give it to him. We have been friends for many years. He is not a Johnnie come lately person. He is a little hard up and a degenerate, but still a good friend who would do anything for me. The best advice I got other than those who said this will end badly is to keep my business private for now on or just say I am losing, down big. Which is something he can more easiliy associate with anyways.


I got trapped because I never thought this would come up. Known him for years and I have been a winning sports investor for a good deal of that time. He has always lost, but his situation was different..... Single and had some decent coin from working. Money to blow type person. Oh, FUKK ME!!

To be honest with you.... In the end it's not even the money I am talking about here... I could lose $1,000 and be fine. It's the thought of losing the friend I thought I had... I was being asked for this money in a way that shocked me.. Like a crack whore needing her fix was the matter. Dude, just let his pride go all togother.Always knew he was a degenerate, but knowing the manner in which he stooped was unsettling.


I too have been broke from gambling in my career. Who hasn't?? I have had times in the past when I couldn't bet. But never, never,ever have I considered asking sombody for money to gamble. Just isn't me and I have too much pride to do it.

[just4phun]

Also be careful of the situation where you lend him 1k and he pays you back in the new year (on time, with maybe a case of beer thrown in too to build your confidence) - then a few months later asks for 2k now what ... he could be "kiting" to keep the gambling going ... that can get ugly

if you are not sure what kiting is ...

hxxp://en.wikipedia.org/wiki/Check_kiting

[lyon804]

What's the new wife look like?





Might be worth the loss.

-EV. Got trapped Wal... Did the typical southern thing... Let's make a baby then get married type deal. He's 34 yrs old and I never thought he would got married and probably never intended too either. One of those things.Dude liked his lifestyle too much to get married. He had it made. Pretty good money. Pretty good job. The ability to pick up and go whenver he wanted.

On top of all the BS he got married to a chick that already has a Trophy!!

Us rednecks say Trophy for baby.. Growing up our fathers would tell us to target chicks that already had a kid if we wanted pussy. The reasoning.......Bitch can't tell you she doesn't fukk because she had proof otherwise.

[lyon804]

Also be careful of the situation where you lend him 1k and he pays you back in the new year (on time, with maybe a case of beer thrown in too to build your confidence) - then a few months later asks for 2k now what ... he could be "kiting" to keep the gambling going ... that can get ugly

if you are not sure what kiting is ...

hxxp://en.wikipedia.org/wiki/Check_kiting

Nice read! Thanks.