We will be voting whether or not to allow slots at race tracks. Those opposed bring up addiction or religious reasons. What is the difference between gambling and investing in stocks? You risk your money for a possible profit. I'm forced to participate in a 401K because my employers(God rot them!) froze pensions. I lost hundreds of dollars with "low risk" investments. Others lost tens of thousands. If gambling with your retirement isn't immoral, I don't see why having some fun with my own money and losing it is. I could go see a bad movie, or eat at a bad restaurant, but nobody cares. If I buy state lottery tickets or go to church bingo games, it is OK. If I put my money in a slot and pull the handle I am EVIL! WHY? I don't gamble much because I'm risk adverse, but I would like to know the difference between "good" gambling and "bad" gambling.
2006-10-03 23:19:42 · 1 answers · asked by Anonymous in Society & Culture ➔ Other - Society & Culture
Statistics show only about 2% of gamblers become addicted. Compare this to the percentage of smokers who become addicted. If you don't have 50 years to regain losses, investing is as devistating as gambling. Ask anybody who lost it all in the Enron debacle.
2006-10-04 10:55:47 · update #1
A few years back, when the stock market was going up all the time, we had people 'day-trading' and losing their heads, money, and then killing themselves. But usually the stock market is not that volatile to give a gambler a 'rush'.
Gambling is an addictive behavior - and for people who are susceptible, it works pretty much like a drug addiction. They give up everything and then borrow and steal to have money to gamble.
The GREATEST PROPORTION of investors come out ahead after 50 years of investing.
The GREATEST PROPORTION of gamblers take a loss.
...but then every investor wasn't 100% invested in in Enron, now were they?
2006-10-04 09:43:16 · answer #1 · answered by oohhbother 7 · 0⤊ 0⤋