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There's a short term group loaning 'game' in Cambodia called and based on Tontine, which I would guess comes from the French influence. The game is played by g
by Freeboots 8y ago
There's a short term group loaning 'game' in Cambodia called and based on Tontine, which I would guess comes from the French influence.
The game is played by groups who agree on a monthly stake. Each month players offer an interest rate they're willing to pay (more like a tax), the highest rate is awarded the collective pot, less the interest which is redistributed to the other 'living' players.
Players who have already received the pot are 'dead' and do not collect their share of interest in future rounds (meaning they must pay the full stake). Once everyone is dead, the game ends. Some will have come out ahead, others may have been able to get a lump of cash when they needed it
- himlion 8y agoAlso in Thailand and Laos. These games are hugely popular. Called a "share" in Thailand and "houay" in Laos. It's some basic banking services for the unbanked in essence.
- deleted 8y ago[deleted]
- callalex 8y agoMaybe I'm misunderstanding, but how is this different than a pyramid scheme?
- detaro 8y agoFrom my understanding, there's nobody added on while it is running, but a fixed group from start to finish.
- detaro 8y agoHow is it prevented that they get "stuck" because no participant needs the money right now and would rather wait and see if someone else is willing to pay an interest?