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Is Gambling Risky?

When Bernborough was the darling of the Australian racing scene starting at “unbackable odds”, my father, who didn’t really follow the Saturday races, gave me the worldly advice “Never back a certainty because there is no such thing”.

In the world of finance it has often been stated that the biggest casino in the USA is locked in Wall Street New York. Unfortunately, several of the investment advisers in our country use the terms punt and bet when reporting trades that they’ve engaged in. This clearly leads to at least one conclusion – that investing is, in reality, gambling.

So what?

“Gambling” can be defined as risking losing your money because the event(s) that you are betting on are not totally under your control. Anyone who subscribes to an investment advisory service – and there are lots of them – and then risks their money by following the investment advice is indeed gambling.

Is gambling a sin? That totally depends on which church you attend!