Re: When gambling has better odds than holding your local currency
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?
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?
But what do you actually mean by "gambling" in this instance? It's laughable. Instead of gambling with your hyperinflated currency, merely buy food and your family's needs while you can before it hyperinflates again.
But if you're making a debate that gambling is your way to fight inflation - LAUGHABLE. Your only hedge is to invest/save the money in store of value assets like Bitcoin or Gold. Gambling the money in a casino game will not give you hedge against inflation.
