Quick Guide: Avoid Mistakes in Gambling, Part III.

Never, EVER play with money that you borrowed off someone else.
Believe it or not, this is one of the most common gambling mistakes. Which is
something that I fail to understand, since it’s one thing to ask for a loan to be able
to buy something absolutely necessary, like food or some device that got ruined.
But to gamble away money that one doesn’t have is just plain irresponsible.

According to Bill Burton Casino Gambling Expert, this issue builds up of two key
elements: one should never bet money that they simply cannot afford to lose and
gambling with borrowed money is an absolute no-no. A sane route to keep from
betting more than one can afford is to come up with a limit. Think up an amount
and stick to it, for better or for worse.

Taking cash off your credit card is also borrowed money

Something that most people with a gambling obsession seem to forget is that
each time you buy something with your credit card, you borrow money. The
exact same thing happens when you use it in a casino. What’s more, casinos also
charge you with extra costs if you want a cash advance.
Bill Burton tried this theory and asked for a USD 500 cash advance. The casino
charged him a huge amount (if we consider the actual value of the transaction,)
USD 21.99 for the advance. And then we didn’t add the interest rates. This leads
to the unpleasant realization: you already lost money and haven’t even played
yet.