Is it necessary to take a loan to pay a casino winnings?

[SlotsMaster]

In a situation where the casino is unable to pay winnings owing to the fact that people won big amount of money, there are some other options available for the casino to take in order to pay the bettors their winnings. It is either the casino makes a deliberation with bettors o how to pay winnings little by little or the casino takes a loan from the bank to pay off the winnings.

 

[Hannman]

Well if the casino is sure that taking of the loan to pay people that win won't affect the casino business. But i don't really think a very popular casino that's legit and has be operating for a very long time won't be able to payout winnings no matter how many they are if you also consider the amount most casinos are making per day

 

[Hardexy1]

I think most casino owner do adopt the system of borrowing money from loan company when they have run out of money to run their business, that's why it's always advisable to be financially stable before running any betting platform that's it

 

[SlotsMaster]

I think most casino owner do adopt the system of borrowing money from loan company when they have run out of money to run their business, that's why it's always advisable to be financially stable before running any betting platform that's it

It is possible for the owner of the casino to adopt the ways to receive loans so that they can pay off the casino dept or winnings which is very necessary to keep the business running more effectively.

 

[kayode10]

This is a bad idea to take a loan in order to play gamble or betting. there's high chances that you are going to lose the money even if it isn't sure odd because things might have changed at the late hour. when you lose the money you'll find it difficult to pay back the loan and the interest will be increasing and this can be a huge problem.

 

[SlotsMaster]

This is a bad idea to take a loan in order to play gamble or betting. there's high chances that you are going to lose the money even if it isn't sure odd because things might have changed at the late hour. when you lose the money you'll find it difficult to pay back the loan and the interest will be increasing and this can be a huge problem.

There is a misconception somewhere, you didn't read the topic properly . There are sometimes when you wouldn't be able to pay winnings and you would need to take loans to service winnings but it is very sure that you're going to make it back again.

 

[swift]

Well most gambling companies have done something similar to this ,like they actually use loan to offset the winings ,if they see that they cant pay ,and obviously they would still be able to get the money later again at the end of the day

 

[Btaliat]

No matter how sure we are with the game, we don't need to play based on loan. We can actually borrow money from friends, though this is equally bad. But taking loan for casino gambling is the worse. We don't really need to do that.

 

[Julio88]

In a situation where the casino is unable to pay winnings owing to the fact that people won big amount of money, there are some other options available for the casino to take in order to pay the bettors their winnings. It is either the casino makes a deliberation with bettors o how to pay winnings little by little or the casino takes a loan from the bank to pay off the winnings.

Personally, I don't think that this is a practice which smacks of any form of financial literacy, more so if an individual decides to splurge the loan money on gambling related activities. This will inevitably most likely lead to economic ruin

 

[MarryL9]

No matter how sure we are with the game, we don't need to play based on loan. We can actually borrow money from friends, though this is equally bad. But taking loan for casino gambling is the worse. We don't really need to do that.

No I think that for you to get what he said he need to know if you are the owner of the game and someone win can you take a loan to pay the person,if am not wrong,well for me I think that be it both direction I will never take a loan to play any game or even take a loan to pay my client its risky

 

[Sike_lottery]

It casino find itself a tight corner and unable to make payment there's absolutely nothing wrong in taking loan from the bank to satisfy the customer first because I know that the money will be recovered quickly.