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#74529
Dark Energy
Participant

in a previous post I wrote on 23 August 2020, regarding can a gambler invest? I quoted the below and I was with the optimistic side but now I have changed my mind on this subject.

” Pros and Cons of the Gambler as “Investor”:
Because of the financial risk, the addictive nature, and the easy access to markets these days, some experts believe problem gamblers should never invest. They view the stock market as a breeding ground for problem gambling and the New York Stock Exchange and the NASDAQ as the largest casinos in the world.
Other gambling experts, and most financial advisors, disagree. They argue that investing, like saving for a vacation or a car, gives gamblers a positive focus for their money. It teaches them to once again value money. Perhaps more important, they argue, investing has become a financial necessity for most households today gambling
households included. Achieving such goals as a comfortable retirement, sending children to college, starting a business, or meeting other major financial goals usually can be accomplished realistically only through a sound investment program.
A person doesn’t stop eating just because they have an eating disorder, and gamblers shouldn’t stop investing just because they are addicted to risk.
Most problem gamblers who have abstained from gambling for a while, and who ideally are in recovery programs, should be able to invest as long as the investing program is reasonable, argue proponents.”

I believe now I am with the group that says gamblers should not invest.
my last relapse caused by converting a small amount of money to bitcoin as another way of saving, and I was decided to put a certain amount of 10% of my salary each month on cryptocurrencies as I believe it is the future, however, the gambler part kicks in and I started switching between cryptocurrencies to chase the small profit. this lead to the transfer of the amount from my crypto wallet to my brokerage account where I have relapsed. but it seems I have relapsed in the day when I decided to invest in crypto.
now after a few months from that post, I agree with the group who says the gambler should not invest since it will trigger his addiction.

day#10

  • This reply was modified 3 years, 4 months ago by Dark Energy.
  • This reply was modified 3 years, 4 months ago by Dark Energy.