Should I go to vegas on the banks money?

[Nightspear]

Yolo! I dont have the guts for that sort of thing, but why not!

[Deleted]

I worked in casinos for 16 years. DO NOT DO IT. Gambling is for suckers. You only here the few win against the millions of losses. I used to find it funny listening to punters when they talked about how they were doing that night. The amount of crap that would come out their mouths could fill a sewage farm.

And unless you really know what you are doing at a poker table, then you are just paying for someone else's kids to go to college or a nice new pair of shoes for the wife.

If anything I would say this to you.
https://www.youtube.com/watch?v=cvH34nJ7EFE @2:35

[RizzleFrazzle]

Lolno.

You of course shouldn't be taking out a 15k loan for a gamble binge. That's just common sense.

And $400AUD a week isn't much at all, I'd be more concerned about getting in a better long term financial position before YOLO'in it up in Vegas.

[lukyl]

Ignoring the fact that you could lose your job for any number of reasons resulting in 0 income, inflation, being a down right idiot with a line like 'I was recently given an oppurtunity from my bank to take a $15,000 personal loan at 12% p.a. paying back $64 a week for the next 7 years. I honestly can't t see a downside to taking this as I make roughly 400$ a week in my part time job and could easily pay this', and naturally thinking you will be that one person in the history of Vegas to take down the house legitimately.., I say;

Go for it, take the loan, you deserve everything and more that's coming to you.

Just fwiw it is interesting that you and others are assuming i think im delusional enough to think i'll walk away with a big win, as i never mentioned that i would be winning anything, in fact clearly stating that i was prepared to lose it all.

Furthermore, do you guys not think it is a larger gamble to do as some have said and just save for those 7 years then go, when within those 7 years any number of scenarios could occur that completly prevent me from ever going, maybe i have a family, or lose my savings somehow, even die..

Shouldn't life be enjoyed to its fullest at its earliest, everyday you wait to do something your risking doing nothing at all.

[JohnBrown1917]

Just fwiw it is interesting that you and others are assuming i think im delusional enough to think i'll walk away with a big win, as i never mentioned that i would be winning anything, in fact clearly stating that i was prepared to lose it all.

Furthermore, do you guys not think it is a larger gamble to do as some have said and just save for those 7 years then go, when within those 7 years any number of scenarios could occur that completly prevent me from ever going, maybe i have a family, or lose my savings somehow, even die..

Shouldn't life be enjoyed to its fullest at its earliest, everyday you wait to do something your risking doing nothing at all.

If you enjoy spending 23k dollar on a 10-day trip, do it. Because I don't think it'll affect any of us here.
You already made up your mind, so why do you ask it here?

[lukyl]

If you enjoy spending 23k dollar on a 10-day trip, do it. Because I don't think it'll affect any of us here.
You already made up your mind, so why do you ask it here?

mind is far from made up, was curious how other people would react to this situation, and in this scenario it seems if majority rules i'm definitely the loser in this.

[Heladys]

If you enjoy spending 23k dollar on a 10-day trip, do it. Because I don't think it'll affect any of us here.
You already made up your mind, so why do you ask it here?

Hell, if he wants to spend $23k on a 10-day trip he should be heading to the bunny ranch instead of the casinos.

[Majestic12]

Hey people, I was recently given an oppurtunity from my bank to take a $15,000 personal loan at 12% p.a. paying back $64 a week for the next 7 years. I honestly can't t see a downside to taking this...

Lol.

Just... No.

You do realize that you're paying for the loan, right?

[Deleted]

go for it

remember: yolo

[mrpopos10]

If your airfare (being so far away) wasn't so absurd i'd say go for it so long as you understand the consequences.

[Deleted]

Just out of curiosity, what part of the $15k would be spent on non-poker? Because you're talking about playing 2/5 so assuming you travel/eat/sleep for free you'd be at 30 buy-ins only.

[Deleted]

Just fwiw it is interesting that you and others are assuming i think im delusional enough to think i'll walk away with a big win, as i never mentioned that i would be winning anything, in fact clearly stating that i was prepared to lose it all.

Furthermore, do you guys not think it is a larger gamble to do as some have said and just save for those 7 years then go, when within those 7 years any number of scenarios could occur that completly prevent me from ever going, maybe i have a family, or lose my savings somehow, even die..

Shouldn't life be enjoyed to its fullest at its earliest, everyday you wait to do something your risking doing nothing at all.

There is nothing wrong with a trip to Vegas perse, doing it on a loan is bad, doing it on a loan with shitty terms is worse.

And do you REALLY need 23k to have fun?

Alternatively you could save 64 a week for a year and have a great weekend for 3.3k at a casino not so far away.

[Draeth]

If a 10 day vacation is worth, at a minimum, $22,242 to you, then yes, do it.

Under no circumstances should you even entertain the idea that you will go to Las Vegas with the intent to gamble and leave with any of the money you started with, much less winnings. You won't.

Some additional factors to consider:
$64.00 a week is currently 16% of your net income.
Over the duration of your 7 year loan, you will pay $7,242 in interest, which is 48.28% of the principal.
If you, for any reason, cannot pay your loan payments, you may face significant additional debt in the form of late fees and/or increased interest rates, depending on the terms set by the loan. If you fall significantly behind, you may also be forced to pay legal fees if the bank decides to file a lawsuit against you. This could financially ruin you for life if you lose your job while you're still paying back that debt.
If you save that money instead, you could take out a mortgage on a $222,420 house when you're 28 years old, using the money you've saved as a down payment.

[Kujako]

remember: yolo

That's offensive to our Hindu posters!

Frankly I prefer "live each day like you have a mortgage" over "live each day like it's your last", cause what do you do in the morning when you're not dead?

[Banzhe]

Just fwiw it is interesting that you and others are assuming i think im delusional enough to think i'll walk away with a big win, as i never mentioned that i would be winning anything, in fact clearly stating that i was prepared to lose it all.

Furthermore, do you guys not think it is a larger gamble to do as some have said and just save for those 7 years then go, when within those 7 years any number of scenarios could occur that completly prevent me from ever going, maybe i have a family, or lose my savings somehow, even die..

Shouldn't life be enjoyed to its fullest at its earliest, everyday you wait to do something your risking doing nothing at all.

It doesn't matter what you do since the economical situation is in the hands of a very few people globally speaking, take the loan / save for 7 years involves the same risk, except in one of those two scenarios you get interest instead of paying it.
Personally I'd probably consider some near "risk-free" investments with descent turnover if I had to take out a loan, at least then you are looking at a pretty sweet time down the line while not losing so much over the years due to paying interest.., with luck you may even be able to pay off the loan a lot sooner.

[Doctor]

If you want to gamble, do it anywhere but in Vegas.

[StayTuned]

ITT: How to fuck up your life.

Don't do it OP, just don't.

[dextersmith]

Just do it.

Another example of his bad acting. Could this clip be the next ruined Transformer movie?

[looorg]

You can send me the money instead. I'll send you a postcard -- it's more then you'll get from the Vegas people you just wanted to give the money to.

[jackofwind]

mind is far from made up, was curious how other people would react to this situation, and in this scenario it seems if majority rules i'm definitely the loser in this.

Use the opportunity to take a $15,000 loan as the starting point for a down payment on a house. The real winners are those who invest early and don't waste their early adult years throwing money away on monumentally stupid things like 10 day trips to Vegas on a loan at 12% interest.

And for god's sake, you might want to realize that $400 every two weeks is not very much money at all - you'll be paying off interest for your entire life making that sort of wage. Why aren't you working full time?