Topic: Gambling/betting shops vs Investment banks - Do you believe this guy's opinion? - page 3. (Read 1153 times)

Hehe..... I've read a similar topic in here countless times and I understand the whole scop..
Exactly!! I just don't understand how people tend to assume the unthinkable out of the unimaginable... Gambling is never going to be an investment and until they can swallow this bitter pill, things won't still go well for them. It gets even more crazy when they begin an open argument about what's right and who's doing too much... Lol

I could invest as much as I want in crypto currencies; with indepth knowledge, I know exactly how, when and where to buy and HODL. That's the least I can do for an investment so, I don't even see gambling away my funds as a thing.

the ops is trying to point out some facts about environmental contributions to individuals habits and the location viability of anyone, he want us to know that musician try the key us know that poor environment are mostly occupied by gambling and rich environment have the investment mindset, although this may be truth in some instances but not all because we still have gambling shop in some rich environment and also investment out let in so other poor avarage environments.


Erigga may be right in his statement, but we can't tell the environmental determination in both so that we can arrive as a basic level ground.

OP's post doesn't talk about investing in gambling but compares gambling to investing in banks. It's true that investing in banks doesn't generate much money, especially if you're not wealthy. With low interest rates, small investments amount to very little, which is why some people try their luck in gambling, hoping to grow their money there. Of course, it's smarter to invest rather than gamble, but we should be wise in choosing our investments. As I mentioned, if the amount of money is small, don't invest in a bank. Instead, invest in yourself and start a business in an area where you're skilled.

Actually there is nothing wrong with this sentence because we who live below the economic line which can actually be said to be middle or even lower sometimes will find it very difficult to find colleagues who talk about business or talk about investment because they sometimes do not think about this as long-term progress and I personally feel this now where even only a handful of people I meet in the environment where I live discuss this.
Different from the discussion of gambling which even though this is something that is prohibited but it seems that this has become an open secret and is always a discussion that is always present at every meeting.

Different from those who live in luxury that is guaranteed because even though there is always a discussion of gambling too, in the end the discussion of business and work which even includes investment is always the main discussion they do because they have good resources to realize it.

Investing in gambling shops/betting shops and banks is the same if the returns are fixed. But the better one is which interest is more than others. But the important thing is that the investment means depositing funds and getting profit for the deposit or returns by gambling. If it is for gambling then it is not safe the safe thing is that when get fixed returns there is almost no chance of being a loser.

Whatever he said, that was his own observation. I think he is partially right and i can't agree with some facts. Like we all know that now gambling is become so easier and gambling houses and betting shops not only being found in poor neighborhoods but also in rich neighborhoods too where many rich people use to visit casinos physically and bets millions of dollars. Gambling is actually common practice, rich and poor both involved in it. I don't have much knowledge about Nigeria but as far i know, you'll found such betting shops and signs everywhere even in rich area too, But its true that, many poor people depends on luck for become wealthy but Wealth comes from investment, hard works. So people should focus on making Wealth by valid investments, by working hard, instead of injecting & losing more and more money in gambling

Your are actually right, gambling is mostly done by the poor or average man thats just trying to find the easy out of his problems, rich people also engage in gambling but statistically it's just a little percentage of them , gambling takes a lot of time especially when you get caught either by winning or losing and rich people have a lot to do that keeps them occupied, they have multiple streams of income that they have to monitor and other things that takes up their time and attention

The observation made by the musician quoted by the OP is in fact correct, it is known that lotteries and the like target those with the less resources and some even call it a hidden tax on the poor.

So while the rich have access to the best and most trained minds to administer their money, the poor are sold the idea that they can change their fate by just being lucky, instead of doing what many rich people did, which was to work hard, save and invest what they could for decades to get where they are.

I mostly agree with the guy as those who are poor may want to try his/her luck in any shortcut way and gambling is one of them but who are already rich may not try his/her luck to make money in shortcut way. Though many people may try gambling make more and more money.

The desire to profit from gambling can only end when you are playing with someone else's money just for fun and that money is not your own and you will not be sad to lose it or if lost, you will not try to recover it. On the contrary, I don't think that no matter how rich someone is, he will not regret losing millions of dollars on gambling and he can live in peace by gambling only for fun.

Wise people will never waste their time and money on gambling, because there are thousands of things to do in the world, from which we also get benefits and entertainment. You will never lose a lot of money. Gamblers understand very well that once you start gambling, you can lose half, if not all, of your money, and I think there can be no fun in a thing in which you have to suffer a loss, and a loss which you were not obliged to get.

If I were an investment operator, I would put the location of my firm where I likely get a client who had money to invest and that is in areas where the rich reside because the rich are educated that money begets money if I am a gambling operator I will position my betting platform on a place where I can sell dream with their bets and that is on a poor neighborhood because, for a few dollars, they have a chance to double or triple their money, the poor people are ready to take a chance on a few dollars for a chance to win big.

When people too often playing gambling, they will thinks that gambling can gives an income to them but they must realizes that will not easy to makes money from gambling. They may wins for some time but the rest, they can lose all of their money and they can not earn more from gambling. Gambling is different than investment bank but gambling can be at everywhere not just in the rich areas but also in poor areas.

If people from poor areas have a mindset how to use the money with right by trying to have an investment, they will have a chance to have a better life. But it seems difficult to open their mindset as they will not accept what other people say and still back to gambling to earn money. But some people from that areas can thinks for their future and don't wants their children have the same things as them so they will make sure they can works hard and smart. They wants to change their life by works in many ways and trying to have something that can helps them in their future.

Correct me if i am wrong but i think from these statements he want to explain about the difference mainset between rich people and poor people because usually to earn money rich people to do some investments to raised their money rather than gambling because rich people know there is no certain in gambling so investment is much more profitable than gambling but for some poor people they were considers gambling is the shortcut how to be a rich which this mainset is clearly wrong so that's why the people who have this thought eventually will ruin their life because they were unable to stop gamble

But unfortunately he was generalizing these situations to all people but in fact some poor people with higher education realize the risks from gambling so that's why they thinking to became an rich then people should be working hard to realize their dream and stop thinking to considers gambling to making money because it just lead people to became an addicted

I slightly disagree with that, I mean rich people are mostly a big spender when it comes to gambling well its given becaude they have a lot of assets and for them gambling is for entertainment and fun and also rich people often also being addicted to gambling well its common, I think the difference between people with wealth and doesn't or unfortunate people is that their views in gambling are different, for people with wealth gambling is just an entertainment, but for average or poor people gambling is their hope ro become rich, because of hoping to have an instant life changing event they bet on lotto more often or they do gambling in hope to hit a jackpot, from there you will see why most of casino establishment and casino platforms are within the poor places as those owners take advantage of the desperation of those kind of people.

I think this is all about mindset and what that guy is trying to say is actually true that gambling if possible is only for those who are having a stable income or has achieved financial freedom and for the poor people investment should be the priority instead of wasting money from nothing. Gambling isn't the right way to make stable income however it is the best way to lose money.

what he's probably familiar with is the regular sports betting  which is more in local environment due to the higher population of people in those location. It's more about choice of gambling and not always about sports betting. Most people in an environment that's occupied by rich people might not visit betting shops that frequently but that doesn't mean that they aren't sport betters. It's just like considering the numbers of sports viewing centers we have in a typical estate to the number we have in a typical Nigerian street. We all know that most estate don't have a lot of sports viewing centers even though they actively watch h football. Can you conclude that because there are fewer viewing centers at most Nigerian estates that the poor people watch more matches than those living in a more serene environment? That's far from it.

Investment isn't same with gambling and the primary customers of an investment firm isn't same with those that are interested in gambling. Because of this difference, it's understandable to know that if you're considering establishing an investment site you wouldn't opt for an environment where you wouldn't have more customers. Poor people might not be too interested in making some of these huge investments offers these big firms bring to the market and that's the basic reason why there site isn't situated in such areas.

Hahahha but those guys are right in my opinion that Investment can make you rich and grow more money the wise man said "If you want to make money you must spend the money" and Investment are the great way to do that and bitcoin already prove it.

Tho gambling can be starter if you lucky enough and get 1 million dollar from it and start to move that money into kind of investment haha

IMO, he only refers to (a way of making money) and according to him gambling is one way of making money, without realizing that gambling is just a place for someone who wants to find entertainment with a little money and if they are lucky, it is a little bonus from the fun we have pay.
But I like the quote, because it make some gamblers aware that they may be addicted because they are triggered by the desire to earn large amounts of money from gambling and this quote from Erigga can give a slap to gambling addicts who only think about earning money from gambling.

And back again to each individual's thoughts because betting shops and investment banks actually have different meanings but sometimes someone interprets both as the same as making money, but not for me.

Gambling companies target poor environment to build their business because they know that it's the poor people that gamble more because they're looking for a life changing opportunity in their life and they believe that they can get this though gambling. Gambling business is lucrative in the poor environment and not the rich because the rich gamble for entertainment.

The poor are always the ones getting the business that will only make them to be losing money but the rich people get all the good business to invest into because they have the money that the poor don't have.
Business are looking for investors that'll make their business successful therefore they will not care about what the poor can offer but only interested in the big check that the rich people will give to them therefore we'll always find gambling shops in the poor surrounding and investment banks in the rich environment.

I am not generalizing but the majority of poor people engage in gambling houses and betting shops in the hope of alleviating their present situation in the fastest possible way they are likely to get more bettors in the poor neighborhoods.
Many rich people are investment literate they know that money begets money which is why these investment companies are situated in their vicinity, these investment companies are likely to get more clients and investors in this area than in the poor neighborhoods.
And besides these investment companies' portfolios are expensive something that poor people cannot afford to avail of, poor people live on their daily wage income while rich people have a lot of money to spare for investment.