• The debate continues to rage over whether or not gambling should be a legal way for adults to entertain themselves. Gambling can take many forms, ranging from traditional and online casino play and poker tournaments to playing bingo and betting on the ponies.
• Gambling is a difficult issue because if it is done in moderation and only on occasion, it is a waste of money, but it is not necessarily evil. People waste money on all sorts of activities. Gambling is no more or less of a waste of money than seeing a movie (in many cases), eating an unnecessarily expensive meal, or purchasing a worthless item.

Gambling is a disease, often thought of as a psychological condition many cannot control. Gambling exudes endorphins, that allow a high to take over one’s body. Not only can gambling ruin the lives of players but also that of their families; therefore, I am against it.

Prudence Jones: The current discussion on the pros and cons of gambling has concentrated on what are often the tragic results of poor judgment and lack of self-control. These dangers are real. We have good reason to believe that people have been gambling on the outcome of sports events ever since organized sports events started taking place. But, regardless of when it started, it’s a fact that sports betting is big business today. It’s a pastime enjoyed by literally millions of people all over the world.

Twenty-one is an age that allows many luxuries to saunter into your life. You’re allowed to consume alcohol, you may purchase a handgun, and your finally allowed to gamble. It’s a rush as you walk into the glistening casino, all the bright lights, the sparkling glass, the laughing adults, the glistening slot machines, the opulence of it all. It’s exciting to finally be considered an adult. Sure, once you turn eighteen you’re considered a legal adult, but once you turn twenty-one your maturity level has soared in the eyes of your elders.

So, as you sit down at the grandiose slot machine and tug at the lever you’re completely oblivious to the disease you may have allowed into your life. The addiction that might be being fed as the blackjack dealer slaps down a new deck of cards right beside you. You’re completely oblivious to the sudden appearance of this possible addiction. You are just flying high on the thrill of it all.

As of February 9, 2009, three million adults in America met the criteria for pathological gambling. Gambling is just like any other addiction; it grates on your emotions and slowly takes control of your life, allowing you to feel nothing but that rush.

Statistics show that compulsive gambling may lead to devastating circumstances for the gambler and their family. A compulsive gambler may experience the same withdrawals as any other addict: chemical withdrawals, which may consist of sweating, palpitations and extreme itching, emotional withdrawal, post acute withdrawal, and new addictions. Someone who suffers from pathological gambling (ludomania) may also experience delusional fantasies involving unrealistic winnings, whether it be past, present or future gambles.

One semester San Diego State University’s The Daily Aztec reported a student standing outside the university, asking various passerbys for money. Why, you ask? The reason the young man had said, was because he lost his tuition money playing blackjack in Las Vegas. The student, an “experienced gambler,” lost $1,000. He states that he’d set aside his money for tuition, but then lost $500 playing. He then lost another $500 trying to win his loses back.

Another student reports that he’d become so addicted to gambling he decided to take up dealing as an occupation. The dealing cured him of his need for a gambling fix.. “John” reports that he’d seen many persons lose $3,000 in ten minutes and someone else swoop in during that period of time and win $6,000.”

Although, the latter student’s outcome proves that not everyone suffers with an addiction to gambling, we cannot prove that it’s a healthy “sport.” While gambling may start off as a game for some, and stay that way, it can become a lifestyle for others.

I feel that the high associated with gambling is similar to the high experienced by the miners during the Gold Rush, the get rich quick excitement. The Gold Rush caused such a frenzy throughout the world that people couldn’t help but feel a rush with the possibility of striking it rich. Native Americans were killed over a little speck of gold, children were forced into labor to keep the mines operating longer hours, and families were torn apart just so someone could spend their day out in the audacious sun, looking for a little of something or a lot of nothing.

I doubt the people that lived so many years ago realized they had fallen “prey” to an unhealthy addiction, but because of gold, millions of men and women suffered with an addiction to gold, the gamble of “get rich quick” much like that of todays compulsive gamblers who will sacrifice anything to gamble one last time. That one last time will be the big win.

As Ayn Rand once said: “A creative man is motivated by the desire to achieve, not by the desire to beat others.”

Think investing is the same as gambling or scratching off a lottery ticket?

Many people are nervous about putting their money in the market and hesitate because they believe that investing has more to do with luck than anything else.

In other words, they believe their ability to earn a return on their investment comes down to pure chance—like the flip of a card or roll of the dice. Investors and gamblers do have one thing in common: They both want to put more money in their pockets.

Investing vs. gambling

Investing and gambling could not be more different.

Here’s why investing your money is typically a better option for those looking to increase their wealth, rather than buying a lottery ticket, or going all-in with a pair of jacks:

The odds are in your favor

Anyone familiar with gambling has likely heard the phrase “the house always wins.” Since casinos are in the business of making money for themselves, that means the scales are tipped in favor of the dealers.

Investing is generally a much more effective way of making your money work for you. And most importantly, investors have a lot more control in where your money goes and how it can grow.

Gamblers hope for a quick win. Investors want to build wealth over time

For example, if you bet $1,000 that the roulette wheel hits your lucky number, you’ve got one shot at cashing in. Your odds? 35 to one. That’s a risky bet. And there’s a good chance you’ll walk away from the casino with less money than when you walked in.

Understanding risk

Investing involves risk. But by building a diversified portfolio with stocks, bonds, and holdings from multiple sectors (tech, energy, etc.), you can balance out your risk. In other words, you’re not betting it all on one investment—or putting all of your eggs in one basket.

If one investment goes down in value, you’ll have other investments that may hold steady, and keep your portfolio afloat.

For example, numerous advisers say an effective way to manage your money is by applying aspects of Modern Portfolio Theory (MPT). Nobel Prize-winning economist Dr. Harry Markowitz conceived the idea for MPT which formed the foundation for portfolio management by balancing risk and return.

The general idea of MPT is that by investing in a diverse assortment of stocks, bonds, and other securities in a multitude of countries, you can minimize risk.

Gambling Good Or Bad

Invest with a plan

You’ve probably seen news reports about people who win a lot of money at the casino or by playing the lottery. These make it seem like a lottery win is not only possible but probable. Unfortunately, it’s not. Losing is nearly inevitable when you gamble.

Gamblers hope for a quick win. Investors want to build wealth over time. Fast money sounds great but it isn’t an actual plan to get you to your goals.

Rather than just “win big,” many investors have a specific plan as to what they’re investing for in the long term. This goal, whether it’s saving for a down payment or a child’s college education, should align with your investment strategy.

Once you have a plan in place, you can adjust your portfolio according to your timeline.

Gambling Is Good Or Not Working

The power of compounding

By choosing to invest your money with a solid strategy you can allow your assets opportunity to compound over time.

Gambling Is Good Or Not Allowed

Here’s how compounding works:

Say you start putting away $50 a week in an investment account that owns a variety of stocks, bonds, and cash. If that account earns an average of 5% annually, you’ll have over $159,669 in 30 years when the interest is compounded annually.