Playing with Borrowed Money

Playing with Borrowed Money

Shakespeare once wrote “neither a borrower nor a lender be” and you might think that this man was never much of a gambler, but according to history you’d be wrong. Borrowing money has always been a part of the world of gambling, for good and for ill, and to some the idea of giving money liberally to enthusiastic gambler can result in gaining money and not a loss. According to legend, no one ever loses when they bet using borrowed money. This superstition may sound like something convenient that a person looking to borrow money from you might say, but there have been professional gamblers standing behind this claim for years, actively supporting a player in some of the highest-profile gambling destinations in the world and making a tidy sum

The Logic

Part of the gamblers logic attached to this good luck ritual, stems from the idea of motivation. It’s pretty well accepted that those who owe money are pretty focused on making the smart bet and earning enough money to pay back the person from whom they borrowed the money. This sort anecdotal consistency is likely what fed into the superstition initially and gave rise to the practice. The other reason for actively lending money to bet is that people who loan money, and expect to be paid back with interest, prefer to have the debts out there as a source of income, and this sort of old wives tale plays right into their sales pitch.

The First Timer and the Lender

One reason for lending money and the belief in the power of playing with borrowed money, is that so often the bower is a first-time gambler. There is a whole separate superstition surrounding the luck of the first time player. According to this superstition, a first timer’s luck is unshakable. If you visit a casino you are likely to see one or two people exclaiming their beginners luck is making them rich, and that alone is enough to make experienced gambler with money lend stand up and take notice.

High rollers in Monte Carlo

As one of the main European destinations for gamblers with reputations for winning big, Monte Carlo has become the residence of gaming hawks with money to lend. These folks have been known to scout out first-time players on a hot streak and offer cash to keep them playing.

The Loser gets back on Track

One example of an experienced and skeptical gambler using borrowed money to when happened in Vegas in 2009 after a rough run on the blackjack table “Jim” was cash poor and decided to leave the Casino just before things got worse. Then he had the idea to head out and get a small low-interest loan and bet smarter and not as frequently. His plan was to make a series of around 50 small bets in about six hours. Eventually, he succeeded and was able to pay the bet back immediately.

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