If Only
If Only
If only I had a larger bankroll. 20 grand will do
Wait, I can borrow the money. I can do this, counting is easy.
I win all the time, I’m great. Never a thought in my mind of losing, I’m a winner.
And then you get cocky, Then your mister know it all,
Then the down swing from hell hits.
You’re playing green and down $15 grand of borrowed money.
Now what am I doing wrong? I am positive I’m playing the same way but I can’t win.
With $5 grand left I know the RISK OF RUIN, I should be playing red, but how the heck will I ever recoup $15 grand at a win rate of 2-3 units per hour. I have to stay at $25 min or it will take a lifetime to repay that $20 grand.
My hearts pounding, I’m short of breathe, every loosing hand makes me angry at the world, I’m cursing out the dealer, I grab a beer to calm my nerves, now I’m ready, I feel better. I’m playing my top game except now I’m pushing out max bets at -5 instead of +5 because the stress, the pounding of the heart, and that one drink made me forget the “M” in the count and now I think it’s positive.
Now I’m busted, I lost it all, holy **** what am I going to do now.
Will I borrow more?
If Only
I thought it out more
$20k from a credit card (~18% interest) will cost you approx $500/month for the next ~ 5 years. If you didn’t borrow the money you could have built up a nice $30k br.
$20k from that 2nd mortgage at 5%, not so bad … $250/ for 10 years, again a nice $30k br.
Ok, so you can afford the $500 a month, I’ll pay it off over time…
But look at all those beautiful things you could have done with the money you are paying in interest, and how will you ever raise enough additional funds to try your skills again?
The stores will always be open, the games will always be there, how can we get around this problem… hmmm.
If I can pay $500 per month to pay off my loan PLUS interest, why not just put $500/ month away in the bank. After 1 year I’ll have $6,000 to play with and not have any pressure of owing anyone.
No matter how well disciplined you are, when you hit one of those inevitable long losing streaks you need to have the will and frame of mind to cope.
Unless you really know your financial and mental limits of borrowing to gamble, I strongly suggest you avoid it. If you want it so bad you can taste it here’s some help:
Before you make the decision to borrow to gamble, write down the amount you want for your starting BR. Now take your monthly total income and divide it into the amount you want for a starting BR. Now this should be how many months of income it will take to build it.
So now you’re ready to see things in motion.
You are putting all your money in the bank, every last dime.
You not going to pay your household expenses, your insurances, your car payment, your food bills will go on credit cards, no new clothes, no hanging with the guys at the bar, no meeting friends for dinners, nothing. Life is stagnant.
After the first month be prepared… the phone starts ringing… you missed your payment.. we’re sure it was an oversight but this is just a reminder…. Oh and if the payment is in the mail thank you for the payment and sorry to have bothered you. Ah not so bad… ok so you just saved 1 months of income and ducked from the payments….
Next month they’re not as friendly. Now you begin to feel the pressure… your chest hurts in places you thought came from working out too hard… but now you are not working out the muscles in your chest, but the ones around your chest, around your heart as the blood pressure begins to raise.
So you just saved two months of income and still haven’t paid the bills.
Let’s go for three months… now there are no more friendly calls. Now there notices. Notices of non payment, notices of repossession, notice of eviction, etc… etc… so you thought you were so smart that you could stop paying everything and take the pressure.. How are you feeling now?
Forget about that credit report. Forget about your ratings. That’s not the issue here.
Can you stop paying everything else just so you can play Blackjack? Every bet you place you’ll be sweating, you’ll feel the pressure, is that how you want to live your life?
Well you have the money in the bank, call up those creditors pay them all off and forget about the borrowed money for gambling, you can’t take the pressure. You’ve ruined your credit for a little while but at least you didn’t lose anything.
On the other hand, you took the pressure, you’ve got the balls, then borrow money to gamble. Now prepare for the pressure to double. Prepare for the anger you’ll feel.
Prepare for the years it will take to get out of the hole.
Be smart. Wait. Save the money over the months. Then when you lose some or all the BR you can look back and say well I still have my health, my home, my family. I’m just out a few bucks nothing to fret over. I’ll rebuild without the pressure of paying back a loan on top of trying to rebuild.
I hope anyone standing at this cross road decides on the correct path.
Give it much thought before you fall in.
If Only I had a bigger Bankroll
If only I had the money I lost
If only I knew it all
If Only I listened to my elders
If Only.
BJC