Viewing a response to: @bala41288/f3s82ubb5
<p>The answer depends on the scope of what you consider to be "gambling" (arguments can be made that any form of investing or running a business constitute gambling because of the monetary risk involved). Because you have used the phrase "spend their hard earned money on gambling to multiply it", I will assume that you are referring to the more traditional definition, which involves such things as casinos, lotteries, bingo, and sports betting.</p> <p>The answer to your question is an unequivocal <strong>yes</strong> -- gambling <strong>can</strong> be a good source of income, <strong>but</strong>... very few people that attempt this venture actually succeed.</p> <p>For the vast majority of people, gambling <strong>will not</strong> be a good source of income; in fact, they will probably lose money and gambling will be a source of <strong>expenditures</strong>. The reason this happens (and the reason casinos are able to stay in business) is that the majority of gamblers fail to understand the math behind the gambling games, and they fall for betting systems and other beliefs that have been scientifically proven to be false, time and time again.</p> <p>Those who advance beyond that stage of basic understanding will still need great financial discipline and fortitude; proper bankroll management and being able to withstand the big swings that can come with gambling are critical to being able to successfully use gambling as a source of income.</p> <p>You might also find the information in my answer to this question...</p> <p>https://musing.io/q/obiajurumak/p3vu65w6x</p> <p>... to be useful.</p> <p>You may have heard this quote, or something similar to it: "The best way to ensure that you walk out of a casino with a small fortune is to walk in with a big one." I'd say that this statement holds true for just about anyone who isn't a professional gambler.</p>
| author | doughtaker |
|---|---|
| permlink | pklbc2mbx |
| category | musing-threads |
| json_metadata | "{"app":"Musing","appTags":["Gambling","money","savings","income","earnings"],"appCategory":"Gambling","appBody":"<p>The answer depends on the scope of what you consider to be \"gambling\" (arguments can be made that any form of investing or running a business constitute gambling because of the monetary risk involved). Because you have used the phrase \"spend their hard earned money on gambling to multiply it\", I will assume that you are referring to the more traditional definition, which involves such things as casinos, lotteries, bingo, and sports betting.</p>\n<p>The answer to your question is an unequivocal <strong>yes</strong> -- gambling <strong>can</strong> be a good source of income, <strong>but</strong>... very few people that attempt this venture actually succeed.</p>\n<p>For the vast majority of people, gambling <strong>will not</strong> be a good source of income; in fact, they will probably lose money and gambling will be a source of <strong>expenditures</strong>. The reason this happens (and the reason casinos are able to stay in business) is that the majority of gamblers fail to understand the math behind the gambling games, and they fall for betting systems and other beliefs that have been scientifically proven to be false, time and time again.</p>\n<p>Those who advance beyond that stage of basic understanding will still need great financial discipline and fortitude; proper bankroll management and being able to withstand the big swings that can come with gambling are critical to being able to successfully use gambling as a source of income.</p>\n<p>You might also find the information in my answer to this question...</p>\n<p>https://musing.io/q/obiajurumak/p3vu65w6x</p>\n<p>... to be useful.</p>\n<p>You may have heard this quote, or something similar to it: \"The best way to ensure that you walk out of a casino with a small fortune is to walk in with a big one.\" I'd say that this statement holds true for just about anyone who isn't a professional gambler.</p>","appDepth":2,"appParentPermlink":"f3s82ubb5","appParentAuthor":"bala41288","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}" |
| created | 2018-09-25 00:32:36 |
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