Is "Lenn Share" a game, or private credit business.

[Bangkokazy]

Can Someone here explain the game.

I'll try to reproduce - it may be I have misunderstood parts, but I have not been able to find much about this obvious popular "game" on the web.

Those of us who are married to Thai know that we sometimes encounter a lot of things we do not quite understand. One of these thing I have noticed, many Thai women do not want that man should learn Thai. Thai women's probably afraid to divulge a little secret or two about the man understands everything that is said. It is not everything that can withstand the light of day, or?

"Lenn Share" is one of thing Thai women do not want the farang to know about. I think very few people know about this "game". Perhaps you've heard of "Lenn Share" but we know really how it's played? You may know a little but Thai women believe enough that it is not advisable that you know too much.

According to my wife, played "Lenn Share" of all Thais everywhere. I barely realized that there are different ways to play and that some varieties are lawful; other illegalities.

The wife was not very curious to tell me about this. She has so far not played (I think), but has lent money to those who have played. She still waiting to get them back.

Edited May 25, 2016 by Bangkokazy

[Bangkokazy]

Background.

First a little clarification: "Lenn Share" is not really a game, but a private credit business.

"Lenn Share" means well actually "play to share." Lenn means probably a lot more than "play" (see "Ginn lenn" or "puhd lenn") Thais say "play" but it must not have anything to "play" to do. So it is with Share playful.

Share has obviously been played in a great many years. In every village, whether they are rich or poor, regardless of social status.

The background to "share" is that poor people did not get credit in the bank, because they had no security or income to get loans. The "share" could quickly gain access to a huge amount and this completely non-bureaucratic. Many needed to buy some land, cover the hospital bill or pay her son's sweet / wedding.

What is the game all about?

It's like saying about money - lots of money! There is talk of credit from a private person to another. The whole thing is an auction, where all participants can bid on share money. It's about to get quick access to a large amount of money to low interest rates or letting your money work for you.

Participants: (Luke Mu)

A play group composed mostly of 10 to 30 people. These are people who know each other. Outsiders do not have access to a play group.

The game leader (Thao)

Thao-share has the central role in the game. He or she is hosting (providing venue, food and beverages). Thao is the one who invites to share. He decides sums, length of the game and handles transactions. Furthermore, he is responsible for ensuring that all players make up for it!

Policy:

This is a verbal agreement and it will not sign any agreement.

Each player is responsible for:

- Pay interest - doc bia

- Pay the agreed time

- Play the game until the final

- shut up!

Game length:

It's a bit depending on the number of players. Are we talking about a month-share with eg.. 20 participants, will last for 20 months. Monthly-share is played mostly by players with regular income. Day-share played f. Ex. more women who work at markets in Thailand. Ie with 20 participants in the Day-share, played it as 20 days.

[Bangkokazy]

How much played it about? (Loon Share)

This puts Thao up before play starts. There is no upper limit.

I think I can explain this with an example:

Let's start with a month-share by 20 participants. Stake per player is 1,000 ฿.

This means that each player must pay 20,000 ฿ during the next 20 months. Ergo paid the 20,000 ฿ every month. This pot auctioned each month. It shall also be paid interest to the other participants.

interest:

Here, that is what Thais call "games". Interest rates are variable. One may be lucky to get low interest rates or unfortunate to pay very high interest rates. It may sound very strange, but interest rates determines kredittakeren itself.

Meeting: (Wan long share)

Share meeting organized by Tau at the agreed place and time. Here auctioned pot each month.

Rotation principle:

During the 20 months, and all must take pot (Ngunshear) once. When you do that you can decide for yourself. It is possible to play with more units, then you can take out per unit share.

Take the pot:

When all meet, handed out shiny patches. Everyone writes up how much he or she wants to bid for taking the pot home. Perhaps one person needs 20,000 ฿ to help a relative with the hospital bill? Take the person may be willing to offer 100 ฿ for pot, while others have no need for money and offers 1, - ฿ or do not deliver the note. The highest bid will thus pot. About f. Ex. two offers 100 ฿, only these two city again. They must bid higher than 100 ฿.

Refund:

All (also the person who got the pot) continues as said pay 1,000 at each meeting (as mentioned in the example) Whoever got the pot must also pay interest.

End of game:

The game ends when everyone has taken pot and everything is repaid.

If you do not have understood the principle yet so let's take an example, då everything will be up a light for all, that did it for me

Let's start with my example above. 20 participants in 20 months. 1000 ฿ per participant. The game takes place in Bangkok.

Thao has the right to take out the first pot without having to pay interest.

In the second round (2.måned) is the player A going to Thailand. A does not have enough cash so A is very interested in taking the pot. A would prefer not to pay too much in interest, with offers 100 ฿. Let's now assume that A you win 100 ฿ and travels to Thailand with 20,000 ฿: A can not bid on the pot more in this game.

In the next round (3 months) is the player who "wins" the pot. B was willing to pay 50 ฿ for pot. He now receives 20,000 ฿ plus 100 ฿ from player A

In the fourth round is the player C who gets the pot for 200 ฿. Player C now gets 20,000 ฿ plus 100 ฿ from Player A and 50 from player B.

In the fifth round, the player D pot to 300 ฿. Player D will now 20,000 ฿ plus 100 from A, 50 from B and 200 from C.

This continues until everyone has received the pot.

Here's the point: You only get interest at the time one gets the pot and only by those who have redeemed the pot before oneself. Those who earn money are therefore those who do not need the money or who has offered 1, - ฿ every time. All before've paid more than this.

In the last round which they therefore nor any betting round, then there is only one player left.

A little more about Thao.

Thao is said that whoever stands in for all players make amends. He will therefore certainly not have players who neither know, do not know where they live or what they're working with. Should one of the players stick of f. Ex. after the first round, the Thao ensure payment. Month Amount and interest! (NB. It is not uncommon for Thao runs away). Have Thao a bad reputation will not be easy for he or she to find players.

Game function therefore just about everyone is sincere.

How to make a lot of money on the game?

Now I will try to explain how one can earn much on Share.

We take again based on my example:

Player F participates only because she will have interest. She tells familiar to her friend that she would soon be traveling to Thailand and that she needs money for the journey. That theory knows only she. Those who know the secrets and Thais know that it is only matter of days before all are familiar with F's travel plans. Detter know obviously also plays G. Player G has gambling debts and must pay a larger amount right after the next shareholder meeting. She knows that Player F is likely to place a bid on the pot which she must outbid. She predicts that player F will make a bid of 100 to 150 ฿. She thinks that it is wise to put in 160, but do not dare to take the chance. She therefore offers 200 ฿. On share meeting will then play G know that she was the highest bidder and got the pot. Plan to play F went to the bank. She got Player G to bid high on a pot that she receives interest on.

Now let's assume that more players engaged in such each with its own history ... This can cause the bids quickly is up in 1000 ฿ per pot.

So if you wonder why we falangs not going to know about this game ... imagine the following not as totally unrealistic situation:

Wife has agreed to buy out a plot in Thailand about 2 and a half years without anyone (husband) should know about this. Wife join a 30 months share on let's say 3000 ฿ per month. The pot is then at 90,000 per time. With interest rates can she then may be left with 120,000 to 150,000 ฿ (if she is the last). This could be the basis for an enough small marriage argue about her husband to know about this ...

For many of you it sounds maybe like small change. It is not unusual in Thailand replayed a million pots in bath per time. Are probably many who have lost very much (all) that fellow players have not made up for themselves or paid enormous interest.

I advise not to participate in share if you can not lose the entire amount. Remember we are talking after all Thai and money.

[Aussie69]

Huh ?????

Is this one of these IQ puzzles?

I am impressed with these people - seems like you need to have a masters in theoretical mathematics to understand this.

[Bangkokazy]

I advise no one to attend and play Lenn Share.

[KhaoNiaw]

She has so far not played (I think), but has lent money to those who have played. She still waiting to get them back.

That means she's part of the group. She's put her money in and is waiting for her turn to take it out.

[Bangkokazy]

My girl playing, with a bunch of friends there no need for additional capital. They have simply as a kind of "savings club". Whoever buys pot use pot to treat restaurant visits for the whole club. Becomes almost like a bunch of friends to pay into a common cash earmarked for parties and fun. Probably not paid much "interest" in this variant.

[Farma]

Common in Asian communities. I first heard of this in the Vietnamese community in Melbourne 30 years ago. They would use the pot to start businesses. If someone couldn't wait for their name to be picked and wanted to jump the queue they had to add extra funds.

Edited May 26, 2016 by Farma

[Bangkokazy]

I knew it was an old game, but there is still no one will concessions that them play, my gf says we play for fun.

[The Big Mango]

^^ ??? ??? ??? ??? ??? ???

Did i have more to drink than i remember last night

[robblok]

She has so far not played (I think), but has lent money to those who have played. She still waiting to get them back.

That means she's part of the group. She's put her money in and is waiting for her turn to take it out.

Of cours she has played it if she lend out money that is the basis of it all. My ex played it too and it always worked out well. But it can go wrong if someone does not pay up. There is nice money in it to those who are patient. Its not a game its just a rotating loan and as with all loans things can go wrong.

[Aussie69]

^^ ??? ??? ??? ??? ??? ???

Did i have more to drink than i remember last night

I sure got a headache trying to understand it

[mtls2005]

There have been quite a few posts on the subject of "share clubs" (pronounced chair by Thais), informal money saving/lending/borrowing groups.

Probably the single biggest problem for employers as these cause all sorts of problems among employees.

http://www.thaivisa.com/forum/topic/294570-thai-money-lending-clubs/

http://www.thaivisa.com/forum/topic/144184-financing-thai-style/

http://www.thaivisa.com/forum/topic/72253-american-chair/