Thinking about borrowing from my 401K to finance my gambling addiction.

[Helmut]

It does not appear that I will be getting the money that is rightfully mine from the crook joints Neteller and Cascade in time for football season. Rather than playing with a reduced bankroll I've been kicking around the idea of pulling some money out of here. If I take a loan do I have to start repaying right away or can I delay it six months?

[Justin7]

Are you sure this isn't JJGold?

Play with a reduced bankroll. Play more props and teasers until you get back to where you should be.

[WileOut]

Why props and teasers?

Helmut I would highly advise you not taking a penny out of your 401k. Please leave it alone.

[Starbuckibm]

My god do not do this...you are going down the wrong path. Why risk your retirement? I agree decrease your play or unit size and build it back up. Don't do something stupid now that you will regret the rest of your life.

I agree this something JJGold would say.....lol

[LT Profits]

Is this Buztah? If not, where have you gone Buztah?

Helmut, borrowing from your 401K to gamble is obviously not the smartest thing to do. Then again, it sounds like you are out a HUGE chunk to Neteller and Cascade, so I could definitely understand where you are coming from. Still, unless you are a professional gambler, there is much more to life than this, so don't give in to the temptation.

[Justin7]

Why props and teasers?

Helmut I would highly advise you not taking a penny out of your 401k. Please leave it alone.

These are the easiest to beat. If you have under 50k, focus on these until your bankroll hits 50k (at which point you're doing limit bets on all props, and starting to have problems betting teasers).

[Mudcat]

Are you sure this isn't JJGold?

I'd say there a couple of jj ghosts in this thread (so far).

People have given solid advice - and probably completely wasted their time giving it.

[Helmut]

I'm not talking the whole thing just 10% or so.

[ShamsWoof10]

Well scared money doesn't lose... I say do it... and take SD under season win totals... if everyone here likes them over then double the bet...

You probably won't see much of that 401K in the future anyway....

[LargeMouthBass]

Helmut go for it. No guts no glory. Who cares about retirement? When you'll be old and won't be able to enjoy anything but to sit around doing nothing.

[BigDaddy]

Are you sure this isn't JJGold?

Play with a reduced bankroll. Play more props and teasers until you get back to where you should be.

helmut is not jjgold he is a very good capper from FP that moved pinnacle lines all last year and won at a high rate his overnight totals would move 4-5 points

[LT Profits]

BigDaddy,

All the jjgold and buztah references were in jest. And FP stands for?

[seaborneq]

If you feel lucky this football season, pull everything out of your 401k and bet it all. I feel lucky this upcoming season but I still want my investments intact at the end and not dependent on some young athletes whimsical lapse of judgement.

[increasedodds]

In the 2 year ago world I would say borrow from anywhere... I did borrow from loans, credit cards, etc.

In today's situation, I don't have any money offshore. I sure as hell would not have borrowed money offshore...

Sean

[stump]

not my business to tell you whether you should do it or not, but if you do you will have to start paying back in 30 days like any other loan.

most companies will let you borrow 50 percent of your balance up to $50,000 and pay it back up to a maximumo of 15 yrs depending on the purpose. rates are usually equal to the prime rate and your payback will be taken out of your monthly paycheck.

best of luck

[jjgold]

I would do it only if you know what your doing, I have taken shots with money like this but got burned, if you take this game serious I would do it, if your an action junkie I would pass.

Easier to get a loan at a bank.

[Helmut]

not my business to tell you whether you should do it or not, but if you do you will have to start paying back in 30 days like any other loan.


best of luck

damn

[jjgold]

Helmer you sound like a sicko

I love it though.

Best of luck and bury the man

[LVHerbie]

take out exactly what you are owed by neteller... most likely you will get that back anyhow... just another gamble at decent odds...

[raiders72002]

Doesn't matter if it's in a 401k, bank or cash in your hand, it's all the same.

If you are a life time loser gambling then leave it alone. If you think it's more profitable gambling then do it.

From your post I would say that you should leave it alone but you will take it out.

[freebie]

Helmut go for it. No guts no glory. Who cares about retirement? When you'll be old and won't be able to enjoy anything but to sit around doing nothing.

no Shit! Go for it.

playing chickenShit won't get you very far.

I would borrow it if I had a 401

and good luck to you. I really hope you make these books pay you huge.

[jjgold]

I still think loans are better, you can also default on them.

[pavyracer]

"Financing" your gambling habit? Why don't you call The Greek and tell them to set up automatic payroll deduction with your employeer?

[freebie]

"Financing" your gambling habit? Why don't you call The Greek and tell them to set up automatic payroll deduction with your employeer?

why setup an automatic payroll deduction from his employer?

You're assuming he is going to lose?
Why can't you wish the dude good luck and win big?

[pavyracer]

why setup an automatic payroll deduction from his employer?

You're assuming he is going to lose?
Why can't you wish the dude good luck and win big?

I'm trying to save him some money from taxes. If you borrow from 401k you get taxed twice because is a loan whereas sending the money to Greek you get taxed once.

[ShamsWoof10]

why setup an automatic payroll deduction from his employer?

You're assuming he is going to lose?
Why can't you wish the dude good luck and win big?

Can you do that or are you guys just f*ckin' around..?