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Suppose I'm penniless. I borrow $1000 from the bank, go to a roulette table, and bet it all on red. If I win, I pay back the $1000 and end up with a profit. If I lose, I declare bankruptcy and never pay the money back. What's stopping people from doing this? Perhaps credit scores prevent this; if so, couldn't you just get some false documents and do this anyway?
You can't do this for a large amount without a decent amount of credit history and seven (I think) years of no credit is a very high price to pay for a 50% chance at some sum.
And if you try to do this for a large amount, the bank will want assurances of you being able to pay them back. If you do this with "false documents", you will go to jail for fraud.