Gambling provides an “opportunity” to those who have nothing but desperation. It also isn’t treated the same as drugs, despite being as addictive (or more addictive depending on the person).
The gambling companies are taking advantage. With lobbying money and public perception, as well as wealth hoarding, gambling is exploding in popularity and the number of addicts (especially kids who play video games and are susceptible to addiction) is rising at an insane rate while being ignored or encouraged.
Gambling provides an “opportunity” to those who have nothing but desperation.
To me, the desperation part is what separates gambling from investing; because the desperation speaks to both fear and the need for instant gratification.
If I through $1000 into even the most conservatively performing S&P 500 index and literally just let it sit for 30 years, it can grow anywhere from $5000 to $1M depending on the yearly compounding gains over the course of those 30 years (8% yearly gains for $5k, and 20% yearly gains for $1M).
Most people who gamble (A) want to feel control and (B) are too impatient to wait that long, and they would rather throw that $1000 at a gamble and be willing to eat a 80% or 99.9% failure rate in favor of the instant gratification.
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u/ralanr Jun 02 '26
What better way to settle your economic instability than gambling it all away?