Gambling is an activity that often divides people. Some people see it as a surefire way to pour all your hard-earned money down the drain, while others see it as an easy opportunity to make a quick buck or as a form of investment. Could both perspectives be right?
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Why Has Gambling Become So Popular?
The entire concept of gambling has changed thanks to the breakthrough of online platforms and new laws and regulations. We’ve gone from the lavish and showy gaming floors seen in classic movies like The Hangover, Fear and Loathing in Las Vegas, and Casino to the virtual world of online casinos.
People can still place bets the old-fashioned way, but gambling apps allow for live odds and betting lines with lower barriers to entry.
Indeed, instead of making your way past the blaring slot machines and crowded table games, you can pull out your smartphone, download a casino app, and access a wide range of incredible games.
Just under half (49%) of all American adults gambled in 2023, but interestingly, 20% of those who placed a bet or two did so only on sports.
These statistics are worth highlighting, considering legal betting isn’t yet available in all 50 states.
Although some plan to start providing legal, regulated gambling services, the only states where online casinos are legal today are Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, and West Virginia. Many states have licenses for sports betting, though, and its popularity has skyrocketed because of online sports gambling.
Turn on the TV, and you’ll likely see an assortment of online gambling commercials. Browse social media, and you might spot ads promoting the innovative features of the latest gambling app.
Watch a sports game, and you’ll probably notice the sponsorships and promotional tie-ins with several gambling companies.
Gambling has become a more mainstream part of society, all thanks to media, accessibility, and technology helping it shed that all-too-familiar stigma.
Can Gambling Be an Investment?
It might seem odd to put the words gambling and investment into the same sentence, but it’s possible for betting to be a money-maker. You might have heard stories of poker players striking it big due to their skill, strategic mind, and psychological acumen.
In a similar fashion, highly acclaimed sports bettors have put their analysis of the sport to work, predicting extraordinary and return-worthy outcomes.
The difference between traditional investments and gambling is that, much like the stock market, betting involves more risk.
Slots are inherently designed to be unpredictable and random, and there’s no certainty that a player you’ve got stakes on won’t get injured on any given Sunday. There’s also the well-known addictive nature of gambling that can lead to a whole host of problems.
From financial hardship to mental health issues and broken relationships with friends and family, gamblers can put themselves in a dangerous cycle they can’t get out of.
Why Gambling Isn’t an Investment
When we invest our money into something, we typically expect long-term sustainability and solid returns, and gambling does not offer either of those things.
While you could argue that a multi-leg parlay or becoming a pro table game player is a long-term investment, there’s a heavy element of chance in betting that can’t be removed.
This risk is why people don’t usually see gambling as a form of investment. Rather, it is a way to have fun, escape daily responsibilities, create social bonds, and maybe win a little pocket money.
Another appealing aspect of gambling is the plethora of rewards and promotions offered by online gambling platforms.
Considering how many betting companies are out there, it is no surprise that they draw in new customers by using bonuses and other offers as incentives.
For instance, those who are most interested in sports betting and are located in Michigan can use the BetRivers MI bonus code to access additional perks.
How to Find a Middle Ground With Responsible Gambling
Luckily, any gambling you do is under your control—and online gambling apps have implemented restriction options to help you with that.
Always remember that you don’t have to wager hundreds of dollars and can call it quits at any point.
Gambling shouldn’t be a source of stress and monetary loss—it should be an enjoyable activity that you can control, with limits in place and downtime between sessions.
Most apps have hourly, daily, weekly, and monthly wage and deposit limits that you can set for yourself, letting the app bar you from going over budget.
There are also time-based, bet-size, and loss limits that all serve to provide a safer and more responsible gambling experience, whether you’re playing roulette or placing a sports bet.
