In my opinion sport betting is not considered an investment. But, some trading strategies based on probability can seem quite similar to some betting systems. I guess it all comes down to having "an edge" that gets the probability in your favor, whether you are trading or gambling.
Betting as far as I know is an all or nothing proposition - you either win some amount or lose whatever amount you bet on each bet. And it's largely or entirely based upon odds and things beyond your control, depending upon the game. With proper investing, you'll keep most of what you've put in even when things don't go your way. And over time you'll increase what you put in by a substantial amount. You have a large amount of control over your money for the most part, and are able to increase the likelihood of success and decrease the likelihood of failure by doing due diligence.
Wow. I have never compared betting or gambling to investing. In fact, the thought of interchanging the two practices as similar has never even occured to me. That being said, upon reading this thread, I turned to my trusty source: InvestorGuide.Com. I found this article: http://www.investorguide.com/article/12525/what-is-the-difference-between-gambling-and-investing/ The author, Thomas Marko labels gambling as, "a bad thing" and furher explains his position by saying, "Gambling, on the other hand, is not so clearly making a positive contribution. Gambling does tend to help local economies, but also usually brings with it well-documented unpleasant side effect." I agree. Gambling may help a local economy but it does not benefit the gambler in the long run. What do you all think?
I agree that gambling is a losing proposition for those who gamble and a winning proposition for casino owners over the long haul. That's why those casinos can build $500 mil facilities and comp people and treat them like royalty and still make money. Proper investing is a winning proposition over the long haul for both investors and publicly traded companies alike.
There's a lot of good websites that have information for beginners. I'm discovering them myself at this point. I have been looking at MSNBC and there are a few podcasts that are interesting, apparently. I haven't found them yet! Seriously though, there's some good economic podcasts that might not just be strictly investing but they are good information for anyone.
People with losing attitudes dont make any money. Yes betting on sports can be profitable. Have you never heard of "Professional sports handicappers"? If you have the information required to gain enough of an edge, you can profit. It's that simple. Anyone who thinks the stock market isnt a gamble is an idiot. What isnt a gamble in some form? If you risk something, you are gambling PERIOD
There is always risk. There are different levels of risk. Flipping a coin is riskier than buying a S&P index fund, a US treasury bond, or the stocks and bonds of companies in the Dow 30. Betting on sports teams is not my thing - too many variables, too short a time frame (hours) - too risky for me. But knock yourself out. What you seem to be labeling a "losing attitude" is called such things as "risk management", "due diligence", "defensive investing", etc - not only by peons like me who've only turned a few hundred grand into a few million in 20 years - but also to the greatest investors. I realize that not all gambling is 100% dependent upon luck - there are some games that require skill. But there are too many things that can happen in too short of a timeframe, and it's "win or lose" on each bet. If I'm wrong, I lose 100% of my principal I've put up on that bet.
Good question! There are many helpful podcast online. We are lucky enough to have the privileged of having the internet at our fingertips. Just do some research online and you will be good to go! Just remember my saying, "When in doubt, Google it out" ;D
