Is Gambling A Side Hustle?

[nimogsm]

You are not making money from gambling does not mean other are not cashing out. We have different luck in gambling. From all the examples I have shown. I want to know your experience and opinion if gambling is a side hustle or not. I need general opinion on the argument.

The profit is small, but it's there. If I'd been losing money all these years, I would have been doing something else long ago. But it's important to understand that this isn't my main source of income, and on an annual basis, it's no more than 10%. It's all about statistics. I track my expenses and income and have a clear understanding of my financial situation.

[lovesmayfamilis]

If there are people who manage to win more than they spend on gambling, then why not? It can be called anything: earnings, part-time job, hobby, or just entertainment. The result is important. If you lose more than you earn, then you just shouldn't call it "work" at all. I would say that any activity that makes you money and you really like is called a hobby. In other words, your favorite job is a well-paid hobby. In all other cases, where people lose more, moreover, they fall into some difficulties and problems; this is called addiction, unfortunately.

[Rikafip]

If there are people who manage to win more than they spend on gambling, then why not?

I wonder whether those who think they are in profit are actually using some kind of spreadsheet or similar tool to verify it, rather than just assuming they are without knowing for sure.

I've met loads of gamblers who say they are pretty much even, which I don't think is very likely.

[michellee]

Gambling is not a side hustle but gamblers are making money from it, that is I agree so they don't rely on gambling to make money. They just make money but they knows the risks of losing money. They don't expecting of making money but keep trying.

If they can realizing the risks and could afford that, they can saying gambling is a side hustle. Even they don't makes money this week, they may still says that they will makes it next week.

We can't blame them saying that as they see gambling giving them the opportunity to makes money. The problem is not many people can realizing that and still chasing the win.

[Zadicar]

If there are people who manage to win more than they spend on gambling, then why not?

I wonder whether those who think they are in profit are actually using some kind of spreadsheet or similar tool to verify it, rather than just assuming they are without knowing for sure.

I've met loads of gamblers who say they are pretty much even, which I don't think is very likely.

For those who had been saying about being on breakeven then i would believe that they are pertaining about accepting that they are on the losing side.   Gamblers wont accept out that they are losing literally and would just that convince themselves that  they are that still on the good side because they've been wary about on the condition of their spending towards gambling. Well, its not bad to gamble as long you are just that only spending into the amount that you can afford to lose on which this is the most important thing of all. Now on the talks about being a side hustle then its never been considered as a side hustle but rather this is just that purely for entertainment and leisure but just like been said that if they were able to make money or profits despite of the loses they do get from gambling then it might considered but honestly it would be that so hard to believe on this case.

[Frankolala]

The reason why we say that gambling is not a side hustle is because profit is not guaranteed and you lose more than you will win in the long run despite that you're lucky now. Do you know how much those gamblers have lost before they will win little part of the money that they have loss. Don't gamble for profit but for fun in order to stay safe from addiction.

[Ronsbit]

In as much as every individual has his or her own view and perspective about this topic of dicussion, we should all know that gambling is very risky and anything of such nature can never be a guarantee to a steady financial flow which one can count on as a means of self sustenance so therefore I do not think gambling should be categorised as a side hustle because it is a 50/50 activities which involves you winning or losing and it also involves a thing of luck to hope on for a big win but side hustle guarantees you a steady financial flow which you are sure of for your sustenance. So based on this fact, I can not assume gambling to be a side hustle because even the gambling industry also advises that gamblers should gamble with caution and with what they can afford to lose, because they know winning is never guaranteed.

[Odusko]

The reason why we say that gambling is not a side hustle is because profit is not guaranteed and you lose more than you will win in the long run despite that you're lucky now. Do you know how much those gamblers have lost before they will win little part of the money that they have loss. Don't gamble for profit but for fun in order to stay safe from addiction.

Yes if winning are not guaranteed profits can be guaranteed either which means that gambling can not be taken as a hustle but rather as an entertainment that should be done bearing the risks in mind, alot of gambler's think's of gambling as business but that is a wrong way of thinking since profits is not determined in the winning since one can lose more than their are winning.

[Cityhunter34]

The reason why we say that gambling is not a side hustle is because profit is not guaranteed and you lose more than you will win in the long run despite that you're lucky now. Do you know how much those gamblers have lost before they will win little part of the money that they have loss. Don't gamble for profit but for fun in order to stay safe from addiction.

You're right, because it's not advise able to view gambling as a side hustle even though we often get luck sometime doesn't mean that we are perfect in gambling.

So it's better to gamble safe and continue the game because there are many things involved in gambling. Honestly, I have never thought of viewing gambling as a side hustle before because I know that gambling depends on luck which everything is possible to happen at any time that is why we don't need bother ourselves when gambling.

[junder]

It makes more sense to view it as a source of supplemental income rather than as a primary source of income because winning is not guaranteed therefore, treating it as supplemental income is the right approach in addition to viewing it as a form of entertainment.

We must be aware that the likelihood of losing is greater than that of winning therefore, it doesn’t make sense to rely on gambling as a primary source of income though treating it as supplemental income is reasonable.

[Yaunfitda]

If there are people who manage to win more than they spend on gambling, then why not?

I wonder whether those who think they are in profit are actually using some kind of spreadsheet or similar tool to verify it, rather than just assuming they are without knowing for sure.

I've met loads of gamblers who say they are pretty much even, which I don't think is very likely.

If they are going to look at their historical logs on most crypto base platform, maybe they are going to see if they are in the + or - side of it. But the thing is that majority of the gamblers doesn't look at that kind of data. Maybe they know that they are in the - that's what they don't bother to look at it. As for the side hustle of gambling, very bad outcome if we thought of it that way. There's no way that it could be a considered as a side hustle as there's no certainty when we plays. There are days that you are lucky and win, but majority of days? You might not win any.

[Wapfika]

It makes more sense to view it as a source of supplemental income rather than as a primary source of income because winning is not guaranteed therefore, treating it as supplemental income is the right approach in addition to viewing it as a form of entertainment.

We must be aware that the likelihood of losing is greater than that of winning therefore, it doesn’t make sense to rely on gambling as a primary source of income though treating it as supplemental income is reasonable.

Even supplemental income shouldn’t be considered since you will likely lose than win on gambling if you gamble consistently so those income now can be erased and convert to losses.

Gambling is more on expenses rather than profit considering how gambling games work in complete advantage with the casino.

It’s an expensive entertainment which many gambler considered.

[swogerino]

I think it depends on who is doing it. If the people doing it are rich enough to cover all their monthly expenses without borrowing money and have set aside some money as an emergency fund then whatever excess money they have if they gamble it we can say that gambling is a side hustle. If the people doing it are people who borrow money to meet end of the month and have no emergency fund for unpredicted expenses then in this case is a bad habit and nothing more which has nothing to do with a side hustle.

[hyudien]

I still disagree with saying that gambling is a side job, more precisely it is a high-risk activity, a side job even though it requires capital still produces value such as goods or services, gambling is not like that, even though there are skills that can be used, it is only limited to increasing the chances of winning amidst the uncertainty of the final result, a side job must be productive.

[EarnOnVictor]

Gambling as "a side hustle" and gambling as "not a side hustle" depends on how you take gambling. Some people take gambling as a means of Fun/Entertainment, while some people want to make money in it. Now, for those who are successfully making money in gambling, that's automatically a side hustle for them since it's a passive income. And truly, people do make money in gambling.

But for those who are always losing in gambling, even if their core reason to gamble is to make money, but since gambling is punching them in the face, they don't dare call it a side hustle. For these, people's opinions about it will continue to vary.

[Africolo]

People are saying here https://bitcointalk.org/index.php?topic=5576619.msg66535841#msg66535841 gambling is not a side hustle and that making me to create this thread. And I made a research in the internet and I saw many articles say that gambling is side hustle. How sports betting became Nigeria’s new side hustle
And from personal experience, I have seen gamblers saying that "if not gambling, they would died with starvation". Not necessarily that a gambler must win every day but they win once, twice or trice a week which they can use to buy food. And as for me anything you do to give you money once a while or regular and it is not your regular job is a side hustle. If this week is not good for you, it will goo foe another person and next week might be your turn.
In my research, I saw a social media post that,

Gambling is not a side hustle but gamblers are making money from it.
And another person Said,

bro, the fact is I am not greedy..
I lose sometimes, but the money I have won of far bigger than what I have lost…
I play maximum 5 odd with like 50k… if i see 80k sometimes 150k I cash out..

There are some days you would go out to hustle and after the work, you were not paid but you called it side hustle.

You can read this article. The third paragraph Yes, sports betting can be considered as a side hustle, And this How sports betting became a side hustle for many Nigerian youths
Listen to this YouTube Video. Sport Betting Is My Side Hustle and lot more.

You are not making money from gambling does not mean other are not cashing out. We have different luck in gambling. From all the examples I have shown. I want to know your experience and opinion if gambling is a side hustle or not. I need general opinion on the argument.

Well, it depends on the individual that is into the gambling and what he feels gambling is to him, there are people that sees gambling as fun while some see it as a source of livelihood while others sees it as a taboo, different people with different perspectives of the game but I can clearly tell you that gamblers that has being safe from gambling are many and it has really safe alot of gamblers to pay their bills especially when they hit a jackpot.

Gambling shouldn't be seen as a side hustle because you can never ascertain the outcome of it and you will feel disappointed when you don't win and you have putting all your hope on it, it should be seen as a game of entertainment and fun. I haven't really seen someone that depends on gambling and lived a luxurious life, this is because winnings are not guarantee it just comes by luck and only the lucky gamblers win substantial amount.

[Hispo]

I still disagree with saying that gambling is a side job, more precisely it is a high-risk activity, a side job even though it requires capital still produces value such as goods or services, gambling is not like that, even though there are skills that can be used, it is only limited to increasing the chances of winning amidst the uncertainty of the final result, a side job must be productive.

However, you must consider something: gambling itself is a service, in the same manner cinemas and theaters offer services, casinos and bookies do.
Also, casinos and bookies generate jobs.

So from the macroeconomical point of view, casinos are providers of services and are the livelihood of many families.

Even so, from the perspective of a gambler, casinos and bookies are not to be considered sources of stable revenues, for obvious reasons.
There are small hustles and side jobs which are more reliable and stable than gambling, that is a fact.

[Oasisman]

You are not making money from gambling does not mean other are not cashing out. We have different luck in gambling. From all the examples I have shown. I want to know your experience and opinion if gambling is a side hustle or not. I need general opinion on the argument.

So, "people" is making gambling a side hustle, that means there are a lot of individuals are earning from it? On whatever they're on to make sports betting profitable on their end.

Well, I agree to this statement, but that doesn't mean someone or a group of people are consistently cashing out and others are not. If sports betting can be a side hustle and a lot of people are doing it, that means casinos should have easily been the least profitable business industry. But, the number of online casino that's popping left and right says otherwise.

If a handful of people are profiting from it, I don't think it is a very smart idea to share it with other people, because they are your competitors.

[aioc]

We cannot consider it a fact; it could be a side hustle for some gamblers, but not all gamblers can apply this to their game. There's still a risk attached to it, and you can still lose. Remember, casinos are profit-generating platforms; they have an edge over gamblers, even if it's sports betting. Not all gamblers are good at analysis.
Even if some gamblers considered gambling as a side hustle and had good results, I still maintain that casinos are making money out of gamblers; numbers don't lie.

[Mr_Brilliant$]

I will not really call it a side hustle… the risk attached to it is just too much. A side hustle is supposed to at least have a level of control or consistency, but for gambling? that one can wipe everything in a short time..

You can literally lose all the money you made from your real hustle just chasing the so called side hustle, and if that can happen then it doesn’t even make a sense anymore..