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?
Yo bruh, when money is losing value like that daily! folks really hav to do what they gotta do to survive. Even if that means throwing a Lil sum on gambling, hoping & praying to the Lord of the Gambling industry that it flips into profit, who is going to blame them!!!! It’s more like why hold paper that ain’t worth anything tomorrow when you might double up today......
I am not saying it’s smart for everybody, but when the streets are cold as hell !! folks will not be thinking about investments they will be thinking about sharp and instant survival.