Gambling/betting shops vs Investment banks - Do you believe this guy's opinion?

[o48o]

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?

Investment banks, and asset management firms etc are located in rich areas because they are looking for rich people. They aren't targeting poor people, because they aren't bringing in enough money.

And rich people don't hang around in poor areas and it's about branding for them. It's not good look for an asset management firm when they can't even afford a good property. And serving people high high end clothes gives a sort of vibe that they must be doing something right. But comparing these places to gambling sites is a weird comparison in the first place. Of course cities have places for betting too, but they also have higher rent and since poor people can afford some gambling, it just makes sense to offer those services in low rent areas, just like other services they can afford.

Just like you won't put a luxury item shops and fine dining michelin star restaurants in the poor area either.

But i agree that poor people should have education about investing, so that doesn't seem like something they could never afford.

[2Pizza410000BTC]

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?

He was actually talking about the importance of investment to make money but I don't think one can increase investment by making money from gambling platform. Gambling is mainly used for entertainment who think that gambling is a means of making money I don't believe it at all because I have never seen any person make money by gambling. I have seen most of the people around me who have gambled live a miserable life. So the worst victims of gambling are those who have considered gambling as a means of making money. So I don't believe the comment the person quoted here by the OP made and it's not true.

[Pandu Geddon]

But i agree that poor people should have education about investing, so that doesn't seem like something they could never afford.

Getting education and knowledge related to investment is indeed quite important for poor people. but more than the thinking of people with low finances is to take advantage of opportunities. and that is what is provided by casinos and betting houses.
Especially if supported by the very easy way for them to access services, such as being able to bet with small money. it brings people with poor finances closer to choosing to gamble than investment.

[Zlantann]

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?

Research has shown that people who live in poor neighbourhoods gamble more. So it will be normal to find more gambling companies in ghettos and slums because they have a larger market there. But Erriga's explanation has a religious undertone. He is telling the religious poor who spend time praying and fasting to invest instead of believing in divine providence or luck. I think the musician is right because it happens in my location. You see people closing their businesses or quitting their jobs and putting more effort into religious activities because they believe that God will make them rich. Engaging in religious activities is not wrong but we must take responsibility for the outcome of our lives.     

[darkangel11]

       -     Literally speaking, most of his statement I agree with, because it is true that if we want our capital to grow, we should only dedicate it to the investment that we know can give us profit.

Then just in case there is a wealth of gambling, it is just a finger, and that is just fortunate, unlike the natural way development or wealth is really in investment, and most poor people are hoping for luck compared to people who want to struggle with the right system.

That's because he's mostly right, but it also has to do with risk the banks don't want to take. They know rich clients are more willing to invest and that they have other assets that they can use to cover a potential loss. That's why the risk is much lower with them. Higher probability of investment with greater chances of debts being repaid and the choice is obvious - they'll go to the rich neighbourhoods.
That said, casinos are not "mostly" in the poor areas. They're everywhere, just the types of games evolve from slots and lotteries into high stake poker and similar.

[erep]

But i agree that poor people should have education about investing, so that doesn't seem like something they could never afford.

Getting education and knowledge related to investment is indeed quite important for poor people. but more than the thinking of people with low finances is to take advantage of opportunities. and that is what is provided by casinos and betting houses.
Especially if supported by the very easy way for them to access services, such as being able to bet with small money. it brings people with poor finances closer to choosing to gamble than investment.

Poor people do not have the financial ability to make a profit from investment even though they understand the knowledge related to investment, but limited finances will not make a profit from investment from equity companies, bank investments and others only have a low percentage profit, their assumption that gambling can generate higher profits than the amount of budget that has been deposited into gambling, they consider gambling as an alternative to make a profit even though they know that gambling is very risky for financial loss. However, they need to get socialization to avoid gambling addiction from professional help or anyone who is competent to be a resource person to remind them to gamble responsibly and limit their budget in betting.

[l3pox]

But i agree that poor people should have education about investing, so that doesn't seem like something they could never afford.

Getting education and knowledge related to investment is indeed quite important for poor people. but more than the thinking of people with low finances is to take advantage of opportunities. and that is what is provided by casinos and betting houses.
Especially if supported by the very easy way for them to access services, such as being able to bet with small money. it brings people with poor finances closer to choosing to gamble than investment.

I think this is one of the most important things if they want to change their lives
the thing is that the school system will all point to something totally different because poor people who depend on others for money are much easier to be controlled
it's quite sad but this is the reality...

[Obim34]

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?

Research has shown that people who live in poor neighbourhoods gamble more. So it will be normal to find more gambling companies in ghettos and slums because they have a larger market there. But Erriga's explanation has a religious undertone. He is telling the religious poor who spend time praying and fasting to invest instead of believing in divine providence or luck. I think the musician is right because it happens in my location. You see people closing their businesses or quitting their jobs and putting more effort into religious activities because they believe that God will make them rich. Engaging in religious activities is not wrong but we must take responsibility for the outcome of our lives.     

His points are clear and it is just the absolute truth, poor people are easily carried away by sweet stories, especially when it happens to be one that involves getting profits from a less difficult means of acquisition, that is the reason we see more physical gambling shops in a poor neighborhood, even a good business owner understands the essence of watching out for the type of investment/business to launch, mainly depending on his location (which is situated on the flow of money in that environment).

On that of under toning religion, many people no longer understand how to watch out for their priority levels, when to lay out time to carry on religious practices and when to establish one's self. As we know, riches never falls from the sky, whatever we work shall we get the outcome in return, less productivity equals to a failed financial stance. Be religious enough doing whatever but  we should never be too absurd not knowing when to table one function firstly before facing the other when due.

[Baofeng]

But i agree that poor people should have education about investing, so that doesn't seem like something they could never afford.

Getting education and knowledge related to investment is indeed quite important for poor people. but more than the thinking of people with low finances is to take advantage of opportunities. and that is what is provided by casinos and betting houses.
Especially if supported by the very easy way for them to access services, such as being able to bet with small money. it brings people with poor finances closer to choosing to gamble than investment.

Poor people do not have the financial ability to make a profit from investment even though they understand the knowledge related to investment, but limited finances will not make a profit from investment from equity companies, bank investments and others only have a low percentage profit, their assumption that gambling can generate higher profits than the amount of budget that has been deposited into gambling, they consider gambling as an alternative to make a profit even though they know that gambling is very risky for financial loss. However, they need to get socialization to avoid gambling addiction from professional help or anyone who is competent to be a resource person to remind them to gamble responsibly and limit their budget in betting.

That is why I believed that education is the key, invest in ourselves so that in the future this is the only weapon that we can have to become rich, we need to have specific talents that we can only get it we are in school or universities. There is only that small percentage of drop out that really become so famous and successful and have a lot of money.

For gambling, we all know the ill effects of it, will not be the source of our wealth unless we hit the jackpot in lottery. And then we need more discipline, because if we don't and we don't know how and where to invest that money, then sooner or later it will just disappear as quickly.

[swogerino]

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?

Research has shown that people who live in poor neighbourhoods gamble more. So it will be normal to find more gambling companies in ghettos and slums because they have a larger market there. But Erriga's explanation has a religious undertone. He is telling the religious poor who spend time praying and fasting to invest instead of believing in divine providence or luck. I think the musician is right because it happens in my location. You see people closing their businesses or quitting their jobs and putting more effort into religious activities because they believe that God will make them rich. Engaging in religious activities is not wrong but we must take responsibility for the outcome of our lives.     

His points are clear and it is just the absolute truth, poor people are easily carried away by sweet stories, especially when it happens to be one that involves getting profits from a less difficult means of acquisition, that is the reason we see more physical gambling shops in a poor neighborhood, even a good business owner understands the essence of watching out for the type of investment/business to launch, mainly depending on his location (which is situated on the flow of money in that environment).

On that of under toning religion, many people no longer understand how to watch out for their priority levels, when to lay out time to carry on religious practices and when to establish one's self. As we know, riches never falls from the sky, whatever we work shall we get the outcome in return, less productivity equals to a failed financial stance. Be religious enough doing whatever but  we should never be too absurd not knowing when to table one function firstly before facing the other when due.

Careful with that. You surely lose more in trading and investments if you don't know what you are doing and if you can't read the market right the trading/investing is a brutally dangerous game that can make you lose huge fortune in very fast time, something you can never lose this fast in gambling no matter if you bet with max win on slot machines. That is why that in this context his thinking maybe looking like he is right at first sight but surely needs a lot of elaboration before going into conclusions and for me the conclusion there is not that right. In investments another thing is that you can surely hit it big but it needs quite some time while in gambling you can hit a life changing win in an instant so in this context luck is much better than investing and again as I said we need to carefully elaborate everything, in the end for me gambling is much better than trading/investing, just my point of view though, no financial advice here.

[Porfirii]

Baofeng said it right, the key is education, or better said, knowledge. Erigga could've said that gambling, sports betting shops etc. are mostly found in neighbourhoods where the education is worse, and investment banks in the contrary. If you have the money but you lack the education, you may still end up losing it all because of a bad management. And it is easier to lose it gambling, but if you don't have the knowledge you can lose it too making bad investments.

Luck counts, but if you want to maximise your chances to get good results, you'd better to know "the rules of the game", and I'm not talking precisely about the games you'll find in a casino, but how everything works.

[Fortify]

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?

Well it's not really an opinion, nor is it his original idea, many people have pointed out this insight before. Instead of blindly disagreeing with him, why not provide these examples of investment banks and asset management firms that are located in poorer areas? It doesn't make any sense. When you are appealing to rich people, you want them to feel safe and that their money is safe, so you setup in the most glamorous locations possible. Poorer people are generally also more desperate and unfortunately willing to throw what little amounts they have into chasing a dream of winning big while gambling. It is irrelevant to the question about making money though, as if he is a very successful musician his source of income will be floating at another level beyond the average person here.

[Lanatsa]

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?

Well, it doesn't matter on where to these businesses/institutions/investments are located from on which it is really that still having that common aim on which is to make money and this is really just that a common approach that they would have on trying out to utilize on whatever that they could possibly use as long they could really be having that benefits in terms of profits.There would really be always those people who would really be sitting on the top and the ones who do successfully makes money.