Quote:
Originally Posted by jrr63
I guess there are two aspects, finance and ethics:
Financial considerations:
As Avarita said, it becomes a question of % likelihood of repayment vs amount loaned. My long term experience with letting guys play "on the book" is quite varied - some guys are as good as gold, some guys are worthless as ****, and many guys are gold for a while until they reach a threshold where they suddenly turn to ****. And the trick is identifying the gold category vs the **** category in the beginning and monitoring the gold category over time looking for signs of turning to ****.
So which category is this rec V? You say he's been around the games in that casino at least some - probably not his first rodeo borrowing money, so do you know others he has borrowed from, and how promptly they were repaid? How much has he been good for in the past? If no one is there whom you know with this info can the Rec provide names of folks you can check with?
After a playing with him long enough to stack him a couple of times you probably have an idea what he claims to do for a living (and for an income stream to finance his poker habit). Does it seem plausible that his claims are valid and that he can afford to lose more money and still pay it back? Does he have the vibe of a desperate degenerate who has passed the "threshold of misery" or that of a guy who does not seem particularly bothered by a couple of k?
You do need to set a ceiling based on your judgement (and references if available) but I'd probably risk another 2k at least.
Ethics:
You know the "risk management" stuff as well as anyone, so is the question also addressing the morality of "taking more candy from a baby"? Assuming the guy does not appear to be a down and outer who's not going to be able to feed his family because of what he loses to you I'd not feel bad about him losing another few K (again of course assuming he likely can/will pay you back).
I had no info on his loan history. And it was like 5am and no1 I knew was around to ask. Also I almost never ask someone I'm playing hu what they do for a living. Lastly, I try not to go down the "should this guy be losing this money" road.
So I gave him 3 more (instead of 2) and told him I can't go any deeper and I need it back ASAP.
The higher you play, the more this **** becomes part of the game. I think my biggest error was borrowing the 5k from the kid I don't know too well at the table. I should have been more discreet with that.