I'm pretty sure most of you know how inflation affects a country and its people, but imagine if it reaches the level of hyperinflation. Take Venezuela for example, which got hit hard by hyperinflation with over 200% yearly inflation, making it one of the countries with the highest rates globally.
Normally, we gamble just for fun, but in a place like that, gambling might actually be a way of survival. The odds of turning a small amount into something bigger could seem more appealing compared to just holding onto their money while its value keeps dropping every day.
In a way, while it goes against the usual belief that gambling isn’t an investment, in countries with hyperinflation, it might look like a potential hedge against losing purchasing power.
So I’m curious, do we have anyone here from such countries, like Venezuela or Argentina? How do you see this possibility? Would you consider gambling an escape from inflation, or does it only make the situation worse in the long run?
Why would it be smarter to gamble it, when you would have way more significant change to see your bankroll becoming zero, then increasing your it. And i admit that inflation is way too fast for anyone sane to keep it in local fiat money, but why would gambling be any saner alternative?
Why not just turn it to usd? Especially when they widely accept USD in there ( at least when i last checked ). Or bitcoin, as that might be better hedge against their local currency in a long run even when it's going down -50%.