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Topic: Gambling/betting shops vs Investment banks - Do you believe this guy's opinion? - page 6. (Read 1159 times)

legendary
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There are no superstores or DIY superstores in my city center also, does that mean rich people eat less and don't buy anything for their homes be it rugs or drapes or pet food? One of the richest neighborhoods around has barely one restaurant and some coffee shops, does that mean rich people eat less out?  Grin

The most luxurious casinos are either in city centers or in the most expensive tourist areas, they are not in a ghetto in any country, and banks are spread everywhere where there are enough customers to serve, just like basically every single business that actually wants to survive.
But yeah, let's find again some other culprit because the blame has to keep being passed on and on and on...

And speaking of, how would those betting companies make money by targeting only poor people? Usually, you don't want to sell, your product to some who, outrageous idea here, has money?
hero member
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While I tend to agree with what he said about making money generally, i am still trying to find any reason to believe that the emphasis he used is true, that is, I do not believe his opinion about gambling house verses investment banks to be true.

What do you guys think about this?


I think the reason for what he said is because of what the situation is. Although we are now beginning to have offline betting shops in places occupied by rich fellows but the observation is right to me. You see banks, microfinance, investment platforms in high places because they probably understand the purpose of investment or they have enough to save from but poor areas actually require what will help them "make money ". So I think that could be his reason.

Another reason for this is that you see alot of betting shops in high populated areas because of patronage. Poor areas are usually densely populated and so sighting such business in such areas would give ROI faster than if it was in a less populated area and usually rich areas have fewer people inhabiting it whilst such gambling businesses thrive more in populated areas.
legendary
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Its the reason why knowledge is an investment, if you are aware with the different asset that gives you a good profit even you are sleeping you are earning instead hoping in gambling that a higher chance of loss. if you are well invested in knowledge for sure you will realize to yourself those gambling money can be use into other things that sustains your daily needs and even make a savings while having an investment. People have different perspective and its hard to make other change their mind once they already adopted this kind of routine. For me investment is for wise people and gambling is for risk takers.
legendary
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Investment doesn't make you rich, revenue is. Investment is really overrated recently, many people are selling the dream to get rich from investment, while getting rich through investment is nothing different to luck. To get rich, you need to be hard worker, focus on one thing and being consistent, but most people fail, that's why didn't make a lot money.

Investing in Bitcoin for 4 years only make your capital double or triple, if you only have small amount of money, you won't earn much.
hero member
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From that guy speech he is only critizing gambling, and nothing more. Betshops are everywhere both in rich and poor environments. Banks will definitely be located in the city where there will be more population and enough security and not in a ghetto.

He should also understand that gambling is for fun and these days people no longer gamble that much in casinos but online in this generation, so his conclusion on gambling is wrong. I think he is saying that to his followers and who cares about what he says.
hero member
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He can say like that in his social media. But we don't have to follow whatever he say. We mush have our choice that maybe different than him. But he say it is right about gambling/betting shops is at poor neighborhoods and investment bank is at rich neighborhoods.

That is because gambling can attract poor people to test his luck and wins some money. That can makes them lose and gets poorer than before. While rich people becomes richer from their investments.

If poor people knows about Bitcoin, they can choose Bitcoin as their investment and not playing gambling. By investing in Bitcoin, all people will have the same chance to make a profit in the future. That will gives them ways to make money without playing gambling but using the investment.
sr. member
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So guys, I found the below shot In one of my friend's story on WhatsApp, it is a shot of a popular Nigerian musician known as "Erigga - I believe that my Nigerian brothers here will know him well.

He was actually talking about the importance of investing to make money, but in emphasizing this, he talked about gambling houses and betting shops; only being found in Poor neighborhoods, while investment banks, equity firms, asset management firms are only found in rich neighborhoods.
His opinion is not in tune with reality because he has failed to understand that gambling is not exclusively reserved for the poor. Maybe he is using the betting shops in his neighbourhood to generalised, forgetting that casinos and gambling shops are also located in rich neighbourhoods with rich people deeply involved. Perhaps Erriga has forgotten that prominent people like Drake also gamble.

I understand his point about investmemt but he is using a wrong comparison.  Poor people gambke for sure but they are not the people sustaining the gambling industry, which happens to be one of the biggest industry making impact across the globe. Gambling is not new either, just that it has advanced just like every other industry feeling the impact of technology.
legendary
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This is true, in my opinion, and I think the establishment's position is proof of that.

Poor neighborhood or let's just say residential place with average-salary people. That's the target for gambling. Some would say "they have less money", I would think twice about that. I've seen people waste more money than their salary and I am still curious up until now on where they are getting it.
As I get older, I have an idea where the money comes from, it's either their savings or they are getting loans from different people.
What will be their collateral? Many things. House, motorcycle, wristwatches, gold, and more. With so many loan sharks in the gambling industry, they will take anything with value as collateral as long as the guy will exchange it for a low price.

I don't know they position of investment banks but I can see most of them are in the business districts.
sr. member
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What do you guys think about this?
Maybe that's what he noticed in his country because it's easy for them to open up a gambling shop. In my country, it's the opposite, you don't find gambling shops that often, and the banks here are so accessible that you'll bump into them from one street to another.

Still, there could be a lot who'll agree because I remember visiting a thread back then that covered a topic about the UK struggling through that same situation.
I think only a few countries have banned gambling and then there are only places that gambling shops are less. Same here in the place where I live. That is because we are away from the city and it's not an ideal location here even for other businesses.

It's also normal that we can find banks often because they are more legal and then everyone needs them. It's like a necessity in our life. One can't just setup a bank, so a betting shop will still be a better option and we can also set up one online. It's much easier. Now if in terms of investing money like on how we invest in a crypto, banks offer it the most and many people invests on them.
legendary
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Still, there could be a lot who'll agree because I remember visiting a thread back then that covered a topic about the UK struggling through that same situation.
That guy is from Nigeria and it is a lie if you can confirm it from Nigerians. As poor people are exposed to gambling in Nigeria so are average and rich people exposed to gambling both online and offline. I believe if there can be a way we can see who lost money most to gambling in Nigeria, it will not be surprising if it is the rich people. You may not see the rich people in betting shops but they know how to do it online. If you have good phone or laptop, there is not reason to visit betting shops. What the man said is not true.
hero member
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Felt like he has oversimplified stuff lol. Investments have risk too, you know. It doesn't necessarily translate to saturated money. People can get burned by their investments.

In my country, fiat investments have started to reach the lower class thanks to internet. However, with a small capital, it'll be hard to achieve great gains -- it may just be some gimmick from fintech companies tbh. Perhaps that's why it makes sense that the rich are typically the target audience of these. We also have casinos in rich neighborhoods or places rich people come like hotels.

As for gambling, you can have fun with just a couple of bucks.  Grin Ultimately, they're two different things, investments can be an actual passive income while gambling isn't.
hero member
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I do not believe with that because it's been highlighted that there were gambling houses in the poor neighborhoods but I'm sure that there must be some banks and investments areas there as well. While the location or area where you've grown up plays a big part on what you can be as you grow old, still, the mindset of an individual will have it all then.

If you've been living in the poor neighborhood and your parents telling you not to gamble because it will lose your money, then you have to listen and you will find a way and dream about getting out of that neighborhood as you grow older and when you become eligible to work and/or study. But if that's the opinion of that guy, he's not wrong either. That's an opinion that has to struck to everybody, whether you're poor, rich or average, you have to appreciate that guy's opinion about what's been sinking in the reality to change people's minds.
legendary
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What do you guys think about this?
Maybe that's what he noticed in his country because it's easy for them to open up a gambling shop. In my country, it's the opposite, you don't find gambling shops that often, and the banks here are so accessible that you'll bump into them from one street to another.

Still, there could be a lot who'll agree because I remember visiting a thread back then that covered a topic about the UK struggling through that same situation.
legendary
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There is a street that I know called bank road. It is called bank road because almost all the banks in the town are there, although they can have beaches elsewhere also in the same town. You will see betting agent shops there in bank road. You will see betting sites sign boards there also, and also betting agents are there and also in the nearby streets and almost everywhere.

In Nigeria, betting agents are everywhere in the Southern part which are not like some parts in Northern parts which are full of Muslims. Even I saw betting agent shops in Fulani (Muslims) states in North but not as common as in the South.

What he said is true but the part that you asked of about what you said is wrong. There are rich men that are even gambling online.
In general, gambling is all about for interested people, regardless of their social status. Both poor and rich are exposed to gambling, but the advantage is always on the rich people since they have all the means to gamble more and make more money despite of their losses.

Now, talking about investments, know that not all people who risk to invest are not coming from rich positions, but some are those who are actually poor who work hard to make their investments work out and prosper. Investment is not just about money, but it's more on the mindset and positivity of a person, and how he silently work on it patiently in order to achieve success.
hero member
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Every one with the way they understand life because if you feels or followed what he said he could be right and the other way round he could be wrong, I have seen those people who finds betting shop or Lotto and similar making wealth from it. Sport betting as we know is one major thing that is sustaining the youths for a very long time, what I understood there is every section of life has there ways to followup to become wealthy and sport betting or gambling is list a man could do to change their story through luck by putting small amount that is affordable for them to lose.

The thing is, there are people who are really living pretty large and comfortable through gambling and they have developed and established themselves with they won from gambling and some of those people you think that are wealthy today are people who made their wealth through gambling or something that has to do with luck and probability, just that they decided to change and channel their lives to other sections of life.
legendary
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What do you guys think about this?
I agree with him a little, although he is not totally correct, and the situation is not the same everywhere.

There are still some places to gamble in rich neighborhoods although they're not as many as you will find in some poor neighborhoods and sometimes the reason why you do not find investment banks in poor neighbourhoods is because of the security condition of the place.
sr. member
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I may not be very familiar with the Nigerian state and how their lifestyle is, but why are gambling houses and betting shops only found in poor neighborhoods,
while in richer neighborhoods it is dominated by investment banks, equity companies and some management companies.

Shouldn't it coexist, or are gambling houses just sucking money on poor neighborhoods with the promise that gambling will double their money holdings quickly.
I ever watched on YouTube about betting shops in Africa and there are lots of places like that in poor neighborhoods because most of their customers come from places like that.
Also many places also provide TV to watch live football for 24/7, and it become a place to hang out everyday for local people there.
The middle and upper class may prefer to gamble online due to their privacy, that is why if a betting shop is opened in a rich area, there wont be as many customers as in a poor neighborhood.
sr. member
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So guys, I found the below shot In one of my friend's story on WhatsApp, it is a shot of a popular Nigerian musician known as "Erigga - I believe that my Nigerian brothers here will know him well.

He was actually talking about the importance of investing to make money, but in emphasizing this, he talked about gambling houses and betting shops; only being found in Poor neighborhoods, while investment banks, equity firms, asset management firms are only found in rich neighborhoods.

While I tend to agree with what he said about making money generally, i am still trying to find any reason to believe that the emphasis he used is true, that is, I do not believe his opinion about gambling house verses investment banks to be true.

What do you guys think about this?


This young man may be right. The poor believe in luck more than the rich do and that is why the poor live everyday of their lives praying for luck or miracles. The poor can't invest, they could barely afford their basic needs not to talk of having savings which will be used for investments. Gambling is one means they can get lucky and win what will take them out of poverty.

I also live in an environment where gambling is easily accessible by the poor people. Investors prefer to bring such investments closer to the poor people because they know that majority of them can be desperately in need of money. Rich people also gamble too but they do theirs out of passion and not because they desperately need the money they'll be getting from gambling. This is supposed to make the low income earners see that the casinos in their neighbourhood is not doing them any favour. Rather than enriching these casino owners, they need to work hard so they can invest.
hero member
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While I tend to agree with what he said about making money generally, i am still trying to find any reason to believe that the emphasis he used is true, that is, I do not believe his opinion about gambling house verses investment banks to be true.
I couldn't have agreed more with what he said. Aside from this dude being a musician, he does make some sense most of the time, but in a more complex way that won't be easy to read. 
 
If you look very well, the local gambling houses are always located in areas where individuals are trying to make a living while struggling with their daily life activities. There are no good offices or much development around that area. Such a place is the perfect target for a gambling house because you will get all the jobless people that you need to fill out the game house every now and then because they don't have much to do.
 
Adding to that, we can also agree that most of the time, those who can barely make two square meals a day and are too lazy to work always look for the easiest way for them to escape poverty, and most of them see gambling as the perfect solution for them to achieve that, not knowing that they will still end up losing all that they have.
hero member
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The thing is that, one can not say exactly what rhe ratios are between the rich and the poor who gamble more and to assume that betting shops are only located in poor environment may be a wrong conclusion,  we have the biggest betting shop and the only physical casino in a rich environment here in Abuja Nigeria so the popular Benin based artist may be wrong that only betting shop are fund on poor environment.

The thing is that, one can not tell exactly what and how much of gambling activities goes on in an environment since many gamblers gamble online and in their private place.
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