Most people don't make 20 stock buys a day, but it is essentially the same thing. I may be comparing spy apples to granny smith apples, but it wasn't really meant to be. You are making an educated guess on what the outcome will be, and putting money on it. Whether it be futures or facebook stocks.
Do I think there's as much addiction to stocks, no, and generally you aren't risking your rent each month on stocks, but they can both ruin your life. Same as horse betting, same as slots, same as black jack. There's no reason to police every aspect of peoples lives when other risky behavior is completely legal.
Sports gambling is legal here and people seem to be just fine. In fact the government is making good money on it.
Do I think there's as much addiction to stocks, no, and generally you aren't risking your rent each month on stocks, but they can both ruin your life. Same as horse betting, same as slots, same as black jack. There's no reason to police every aspect of peoples lives when other risky behavior is completely legal.
Sports gambling is legal here and people seem to be just fine. In fact the government is making good money on it.
It is definitely not "essentially the same thing"
For 99% of people betting on sports, it is much more similar to scratch tickets or the lottery. Just speculation on something with a house edge that will add up over time and adds 0 value.
Stock/Bond/Commodity speculation and investing serve far more legitimate functions.
And I think everything should be legal. I wish there was an exchange you could bet on how many pts Jared Sullinger scores tonight at .3% commission.
However, having an e-trade account and a 5dimes account aren't close to the samething though. If you are going to go that far then your basically saying you think buying a home is the same as having a 5dimes account.
For 99% of people betting on sports, it is much more similar to scratch tickets or the lottery. Just speculation on something with a house edge that will add up over time and adds 0 value.
Stock/Bond/Commodity speculation and investing serve far more legitimate functions.
And I think everything should be legal. I wish there was an exchange you could bet on how many pts Jared Sullinger scores tonight at .3% commission.
However, having an e-trade account and a 5dimes account aren't close to the samething though. If you are going to go that far then your basically saying you think buying a home is the same as having a 5dimes account.
I understand your points, and agree. A 5 dimes account is very far from an e-trade account.
I'm arguing it on a personal financial basis and that both are essentially gambling. Many people risk money they do not have on an assumption of an outcome, and many people lose money they do not have on both. Buying a house is a gamble, if buying to flip, which is actually one main reason for the huge collapse in the US housing market. I can really only speak for Florida on that regard, but that is getting a little far fetched and off topic lol
I'm arguing it on a personal financial basis and that both are essentially gambling. Many people risk money they do not have on an assumption of an outcome, and many people lose money they do not have on both. Buying a house is a gamble, if buying to flip, which is actually one main reason for the huge collapse in the US housing market. I can really only speak for Florida on that regard, but that is getting a little far fetched and off topic lol
