Can Gambling be Considered a Business?
- Thread starter Golden9
- Start date
Gambling can indeed be seen as a business, as it involves wagering money or something of value on an event with an unpredictable outcome in the hope of winning additional money or material goods. Gambling businesses, such as casinos and online betting sites, make money by taking a cut of the money bet by customers. They may also make money through other means, such as selling food, drinks and hotel rooms. As with any other business, gambling businesses must pay taxes and follow certain regulations.
If you don't attach emotional engagement incthe business. Secondly, if you are smarter than the bookmarkers. I know a lot of guys that are using arbitrage to exploit loopholes in betting.
What you just explained is why it's only a business for Casinos and Bookmakers. They get a cut of every bet that is made so they are guaranteed a profit over time, where the only guarantee the customer gets is that over time the odds will be against him. If he does happen to win for any length of time, one of his fellow customers is going to lose enough more than that to pay the Casino or Bookmaker his profit. The Internet is full of systems people have worked out to always win, but they only succeed in making sure the odds system keeps on paying. the Casinos and Bookmakers. Do some reading about the the Martingale Strategy that people have been using since the 18th Century to try to offset the odds against them and eventually end up losing huge amounts they would never have wagered unless they were following a system that did not work. I know because I have been there and done that myself.
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Arbitrage is NOT a sure thing and you need to have thousands of dollars to bet on each of 2 or 3 outcomes to make significant willings. Since you make these bets one at a time, if anything changes before you get all three bets placed your multiple bets of thousands of dollars each can put you in a hole very fast. Just keep in mind these Casinos and Bookmakers are professionals that have been doing this to make a living for years and it arbitrage was that easy, they would find a way to shut it down in a hurry, or bend the parameters to drain your funding enough to provide them with huge profits at your expense.
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If you are only a gambling player, you cannot be categorized as a business, because you cannot guarantee your life in the future. In fact, many gamblers always lose and lose. If gambling is allowed in your country, you can turn gambling into a business by becoming a bookie, or at least you just provide a place for gamblers, but you don't have to be a gambler.
Gambling is not a business because it is all about losing money and it doesn't need any skills.
Yes, I think to an extent it can be considered as a business, that is if the player does not allow greed to overtake him, someone can always stake lower odd with high chance of winning with huge amount of money, and do it consistently.
The only way I see gambling as a business is for the people that run the places where people are able to gamble such as online betting sites, casinos, betting shops, and also arcades as well. I don't believe that you as a person can see gambling as a business as that would mean you can become too invested in it and that is never a good idea when it comes to gambling. Yes with gambling you can win some and lose some but you risk losing so much in gambling if you take it too far which is why I don't see it as a business for the gamblers but more for the businesses who run the service.
I do not think that gambling can be considered a business. For me, gambling is a bad habit which leads to addiction. Furthermore, it is very risky because you can lose all your money, It is better to stay away from gambling.
I believe that gambling can be considered as a business because there are so many gambling companies out there which are making millions of dollars for the company owners.
I have seen a lot of poker Pro taking poker game as a source of income.
