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

[bering]

I think this is all about mindset and what that guy is trying to say is actually true that gambling if possible is only for those who are having a stable income or has achieved financial freedom and for the poor people investment should be the priority instead of wasting money from nothing. Gambling isn't the right way to make stable income however it is the best way to lose money.

Correct me if i am wrong but i think from these statements he want to explain about the difference mainset between rich people and poor people because usually to earn money rich people to do some investments to raised their money rather than gambling because rich people know there is no certain in gambling so investment is much more profitable than gambling but for some poor people they were considers gambling is the shortcut how to be a rich which this mainset is clearly wrong so that's why the people who have this thought eventually will ruin their life because they were unable to stop gamble

But unfortunately he was generalizing these situations to all people but in fact some poor people with higher education realize the risks from gambling so that's why they thinking to became an rich then people should be working hard to realize their dream and stop thinking to considers gambling to making money because it just lead people to became an addicted

[ethereumhunter]

I think this is all about mindset and what that guy is trying to say is actually true that gambling if possible is only for those who are having a stable income or has achieved financial freedom and for the poor people investment should be the priority instead of wasting money from nothing. Gambling isn't the right way to make stable income however it is the best way to lose money.

When people too often playing gambling, they will thinks that gambling can gives an income to them but they must realizes that will not easy to makes money from gambling. They may wins for some time but the rest, they can lose all of their money and they can not earn more from gambling. Gambling is different than investment bank but gambling can be at everywhere not just in the rich areas but also in poor areas.

If people from poor areas have a mindset how to use the money with right by trying to have an investment, they will have a chance to have a better life. But it seems difficult to open their mindset as they will not accept what other people say and still back to gambling to earn money. But some people from that areas can thinks for their future and don't wants their children have the same things as them so they will make sure they can works hard and smart. They wants to change their life by works in many ways and trying to have something that can helps them in their future.

[aioc]

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.

If I were an investment operator, I would put the location of my firm where I likely get a client who had money to invest and that is in areas where the rich reside because the rich are educated that money begets money if I am a gambling operator I will position my betting platform on a place where I can sell dream with their bets and that is on a poor neighborhood because, for a few dollars, they have a chance to double or triple their money, the poor people are ready to take a chance on a few dollars for a chance to win big.

[redsun114]

We will have different opinions on this. The only problem I see on his point is the tone of being discriminative and conclusive. Everything is a matter of what works best for you. It all depends on how you view being rich is. Some became rich out of their profession, some are with investments and yes there are also people who made fortune in gambling. Determine which method will work on your circumstances. You could gamble without desiring of becoming rich as well; just a source of entertainment. We all know the importance of investments. However we have different pathways and goals to achieve in our lives. You could choose or create your own route. Not all investors became rich in the first place and same goes with other gamblers as we all know.

The desire to profit from gambling can only end when you are playing with someone else's money just for fun and that money is not your own and you will not be sad to lose it or if lost, you will not try to recover it. On the contrary, I don't think that no matter how rich someone is, he will not regret losing millions of dollars on gambling and he can live in peace by gambling only for fun.

Wise people will never waste their time and money on gambling, because there are thousands of things to do in the world, from which we also get benefits and entertainment. You will never lose a lot of money. Gamblers understand very well that once you start gambling, you can lose half, if not all, of your money, and I think there can be no fun in a thing in which you have to suffer a loss, and a loss which you were not obliged to get.

[shasan]

I mostly agree with the guy as those who are poor may want to try his/her luck in any shortcut way and gambling is one of them but who are already rich may not try his/her luck to make money in shortcut way. Though many people may try gambling make more and more money.

[wxa7115]

I mostly agree with the guy as those who are poor may want to try his/her luck in any shortcut way and gambling is one of them but who are already rich may not try his/her luck to make money in shortcut way. Though many people may try gambling make more and more money.

The observation made by the musician quoted by the OP is in fact correct, it is known that lotteries and the like target those with the less resources and some even call it a hidden tax on the poor.

So while the rich have access to the best and most trained minds to administer their money, the poor are sold the idea that they can change their fate by just being lucky, instead of doing what many rich people did, which was to work hard, save and invest what they could for decades to get where they are.