[Derf Design]

To Loan or Not to Loan

I have a cash game about five days a week and a lot of my players always want to borrow money to get in a game or buy back in after they bust out. I don't charge any interest and expect to get paid back on their pay day. My Max limit is set to half of their expected pay check. If I have to bug them to get paid back after their payday then their credit limit is lowered to less than 50.

I haven't been screwed yet, but i'm sure that day will come.

Should I loan players money or am I just asking for trouble.

[TC Valdez]

I like to give people the benefit of the doubt (if I know them). I will lend them a few bucks to test the water. See how long it takes them to pay you back.

If they dont pay you back, well lesson learned. There are a few guys that we play with that their word is just as good as the money being on the table. I wouldn't think twice about giving them a marker at the house.

Each person is different, especially when it comes to money.

Short answer: yes.

[tomb1]

Originally Posted by Derf Design

To Loan or Not to Loan

I have a cash game about five days a week and a lot of my players always want to borrow money to get in a game or buy back in after they bust out. I don't charge any interest and expect to get paid back on their pay day. My Max limit is set to half of their expected pay check. If I have to bug them to get paid back after their payday then their credit limit is lowered to less than 50.

I haven't been screwed yet, but i'm sure that day will come.

Should I loan players money or am I just asking for trouble.

Sounds like you've set your limits already and your players know it. I hope you are winning some of this money back, and they're not taking your money with your money.

I would not be doing what you do. Yes, you're asking for trouble. But if this works for you, then more power to ya!

[Big Mike]

I assume you have enough $ of your own that if one of them defaults you won't be ruined. If that's the case, sure there are risks but if you trust them then it's totally up to you.
One thing I would do is charge them for the privilege. Not interest per se, but more like the 0% interest/ no money down deals at furniture stores - it'll cost you $49.99 to set that up. Depending what kind of stakes we're talking here, I'd let them borrow but it would cost 'em 5 or 10 bucks every time.

[*acesandfaces*]

I have seen alot of private card rooms bank roll people and it always seems to turn out bad. The guy gets deeper and deeper in and other responsibilities are ahead of paying you back. Just seems like a lose/lose situation. At a home game where you are all buddies it may be a little different but I would vote against it. I fully support the motto: Don't take it if you're not prepared to lose it......

[hod]

Originally Posted by Derf Design

My Max limit is set to half of their expected pay check.

I was thinking steer clear of lending your players money, then I read that bit! So we're not talking $20 or even $50 here... no no no (just my personal opinion)

[Double Eagle]

Sooner or later you will probably get stuck. However, if you are loaning them money that they are losing back to you, then perhaps it is worth the risk.

[guinness]

Originally Posted by Derf Design

To Loan or Not to Loan

Theres always a loan or two floating around each week at our game. The thing is, we do not burden one person as the bank, that is, we all loan to each other so its not like one person is getting hit with a large IOU. Sounds like the loaning should be spread out at your game.

[azureXsmurF]

Originally Posted by Derf Design

To Loan or Not to Loan

I have a cash game about five days a week and a lot of my players always want to borrow money to get in a game or buy back in after they bust out. I don't charge any interest and expect to get paid back on their pay day. My Max limit is set to half of their expected pay check. If I have to bug them to get paid back after their payday then their credit limit is lowered to less than 50.

I haven't been screwed yet, but i'm sure that day will come.

Should I loan players money or am I just asking for trouble.

I'd say if you're running a pretty much professional game (set dealer with a rake) you should be willing to set markers for people who you deem trustworthy. I play in a few 1/2 NL games in the area and the hosts are very willing to spot people 2-300 (and depending on the person I've even seen up to 1K in a night) as long as they know the person well enough to trust the person.

I personally as a player refuse to lend out money or borrow from anyone else. And if I started a game on my own I would be playing and not take a rake. I'd just have a friend deal and make tips. That way I'll never feel obligated to loan out money to ppl who go busto

[ink_junkie]

I say no way. If they don't have the money to gamble, then they shouldn't be gambling. If they're borrowing money to gamble, then they have a gambling problem.

I'll guarantee you that at some point, lending your friends money will come back to bite you on the ass.