NOT SO ILLEGAL
I was reading The richest man in Babylon some time ago and one thing I discovered alongside other old books I have read is that there have always been two kinds of businesses that can never go extinct. One is prostitution, and the other is gambling. People normally like to bet and wager their resources on things. It was through the idea of gambling some part of our modern digital trading was invented (my observation). You watch the market and think it will go up, you weger a particular amount for it, if it's correct you get your money back with a good amount of profit. If you are wrong, you lose your money. A lot of people would like to argue that it's different from gambling and a form of business forecast, but I will also argue that for the fact you need to forecast in the first place shows it's gambling.
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In my opinion, gambling in itself is harmless, it's usually a matter of putting your money where your mouth is, but the majority of the vices we see today are as a result of the greed of man. It has become what is known as the lazy man's business because only lazy and greedy people put all their efforts into wanting to make wealth with gambling. I'm not saying it's impossible to make wealth through gambling, because I have seen some of my friends do it and also noticed that once you can kill the greed in man, you can build a successful businessman. Those who have built wealth through gambling are not the best predictors or forecasters themselves, but rather are those who have killed greed in themselves and know how to see opportunities where others won't see because of greed.
I once tried gambling in school, learning from a friend of mine who I watched build wealth through it, it was then I saw that I was even a better forecaster than him. I was into sports betting and could sit a whole day analyzing games with a 75% - 80% success rate. But I wasn't making much because I would give my predictions to my friend. He would use it and make few losses and I would use it and make major losses. His idea was that he risked more than I did and played less or more than me in most cases. If I predict 10 games, he could spread the entire 10 predictions into 6 or 7 and only encounter a few losses while I would play all 10 at a go and one or two games would cut my win because I felt with the games together, I stood a better chance of making more profits.
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My story is a clear example of one of the major reasons people lose everything they have to gambling. Although I said gambling is a lazy man's business, it's not a poor man's business. To gamble successfully you must be ready to put in more than enough to get a substantial amount while also putting in what you can afford to lose. I'm not here to teach about gambling but simply stating the fact that I don't see a need to ban it as man would always gamble. In Fact we gamble every day without realizing. You wake up in the morning dressed up not knowing how the day would go, but hoping things will fall in place not because of anything you did, but because of faith. Or when you enter a business newly investing so much and trying to make it work with the hope that if you keep trying you would get profit. Any time we make risky decisions, we gamble and that's a fact. But minimizing or risk to the bare minimum is what makes a good businessman. By the way I don't bet on things, but I understand that gambling is a natural phenomenon of life.
THIS IS MY RESPONSE TO HIVE LEARNER'S PROMPT FOR WEEK 148 EPISODE 3
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It's always that hope that it'll rise that makes people keep going and going and sadly some of them don't even get to see that big win till they die.
Just like you said, I personally also don't see Gambling as something bad neither do I see banning it as the solution to stopping punters from betting, however, work should be done in educating people to always get the amount they could afford to lose
The rich educate their kids on how to spend money, the poor only know how to spend money on things expecting that big return
As in ehn... How it destroys People is when they want to make millions from the least amount of money possible. You're right, the main issue here is the greed. Once that's taken care of, it might be easier to handle this gambling ish...
Even in trading people lose money due to same greed. I made and lost my first $1k due to greed. Even this year greed has made me lose $5k in trading. Even the best of us become greedy once in a while. It's something we must always try to tackle