Gambling itself is an investment and some investments are riskier than others.
I think poor management of life choices is the reason people lose their wive's and their families.
For example, you shouldn't be investing with rent money when you have rent to pay.
You should only be investing what you can afford to lose, like any investment.
I think poor management of life choices is the reason people lose their wive's and their families.
For example, you shouldn't be investing with rent money when you have rent to pay.
You should only be investing what you can afford to lose, like any investment.
The largest gambling dens on the planet are the worlds stock markets and no one is talking "morally wrong" about them. Fortunes are made and lost everyday.
Back in the day, I bought a nice chunk of gold. Things look good right now but you never know. It's a gamble. I could lose it all. (Of course I have a sell order if gold ever drops under a thousand.)
Gambling is like driving a car or so many other things. You can have fun with it or you can get stupid. If you cannot see that, you shouldn't be gambling.
Back in the day, I bought a nice chunk of gold. Things look good right now but you never know. It's a gamble. I could lose it all. (Of course I have a sell order if gold ever drops under a thousand.)
Gambling is like driving a car or so many other things. You can have fun with it or you can get stupid. If you cannot see that, you shouldn't be gambling.
In my opinion, sports betting doesn't have to be a -EV as sports betting are subjective and you can outsmart the books which some people do and quite successfully. I think it would be a -ev if you expect to go 50/50 for the rest of your life.. but what if you went 60/40.
Some people can actually look at sports betting and do it as a serious business. They put in the hours and time and many years of experience (losing their ass) to be good at swinging the EV in their favor.
Also, I want to rephrase my last post...
Sports betting itself can be an investment and some investments are riskier than others.
I think poor management of life choices is the reason people lose their wive's and their families.
For example, you shouldn't be investing with rent money when you have rent to pay.
You should only be investing what you can afford to lose, like any investment."
As far as gambling and investment, I don't think any of us want to go there as far as arguments go - lets just refer to the below link for anyone who is interested and they can form their own opinion.
http://www.investorguide.com/article/12525/what-is-the-difference-between-gambling-and-investing/
