I have seen a lot of threads in this section as well as in other online forums which always protrayes gambling as a negative line of earning money online.
It is simple math. Odds are always against player, you will most likely lose money but everyone is hopping for big win - which isn't impossible but it is rare.
I have seen people comparing gambling with alcohol addiction.
They are based on lots of studies. Research some.
I have seen people actively trying to discourage others from getting into gambling industry. What's wrong with gambling?
Nothing at all as long as you are responsible.
It is just another business and also legal in many countries. People who buys lottery tickets are also gambling only.
Yes, but you don't see people buying lottery tickets for all money they have. There is huge difference between lottery and gambling at casinos. You mentioned alcohol - one glass of beer every day won't harm you but several bottles will.
In trading industry, you bet on your speculation and in gambling industry, you bet on your luck. In both trading and gambling, there is a risk of loosing money. So why trading is seen as a good way of making money and exactly opposite for gambling?
I belive it is just a social taboo about gambling and we need to rethink our stand towards gambling. It is just another legal business. What's your view?
Apples and oranges.
Thanks for your excellent reply! Even you have mentioned that nothing is wrong with gambling if you are playing responsibly. But that entirely depends on an individual. Let me give you one scenario and ask you what would you do in that scenario.
The scenario:
Assume you don't have any bitcoin in your cold storage and suddenly win 23 bitcoins ($8700/btc) as a jackpot from a gambling website. What would you do with that money?
What I will do:
1. My mortgage value is close to 8 bitcoins. I will first pay off my mortgage and become debt free.
2. I still have 15 bitcoin with me. I will deposit that money into a bank in "Monthly income scheme" plan which will earn me a monthly income of 70k in my local currency. This income is more than enough for a married couple with a child in my country. I will be able to save from this earning.
So if you see that, I will try to secure the rest of my life with that winning. It is because I understand my responsibility and I am not a high risk taker. But there are a class of people who don't know where to stop exactly. That's when the problem starts which earned gambling a bad name. Addiction in any form is not good and we all should know when and where to stop. But do we really need to blame entire gambling industry for our own mistakes? I don't think so!