Do you think gambling operates like ponzi scheme??

[Bilal0087]

I was in a discussion with a member here, he was telling me that gambling is a ponzi scheme. Cos one experience too many losses, meaning the loss count within the two schemes are greater than the actual winning profit. When it comes to gambling, more than 95% fall short only 5% can brag about winning on the scheme. The same also happens with ponzi, many looses money through ponzi but few recovers their capital stake and their interest rate.

Do you agree with the member here, that gambling is a ponzi scheme??

I think it is not same, in the ponzi scheme, there are chances of almost equal probability for example there are 50 50 chances to win, while in gambling scene there is not 50,50 chance of winning or earning profit.

 

[Sincerem]

I think it is not same, in the ponzi scheme, there are chances of almost equal probability for example there are 50 50 chances to win, while in gambling scene there is not 50,50 chance of winning or earning profit.

Its like your addicted with ponzi scheme?? I was addicted to gambling platform but due to the fact that I can't win much, it was reducing my finance. I have to give up use my time for other meaningful thing, take care of my gaming network and so on.

 

[Henrywrites]

I was in a discussion with a member here, he was telling me that gambling is a ponzi scheme. Cos one experience too many losses, meaning the loss count within the two schemes are greater than the actual winning profit. When it comes to gambling, more than 95% fall short only 5% can brag about winning on the scheme. The same also happens with ponzi, many looses money through ponzi but few recovers their capital stake and their interest rate.

Do you agree with the member here, that gambling is a ponzi scheme??

Gambling statistics that I read some time in the past showed that many of the bettors are greedy and would want to make a million dollars in a day. This is the challenge that they always have as regards what is best to be done and when it should be.

Ponzi scheme on the other hand will make you believe that you are on your way to being the best millionaire around, but at the end, it will disappoint.

 

[maventiger]

@Sincerem I agree with you on that. Ponzi is the senior brother of gambling. Either ways you will lose your money in the long run it's just a matter of time. The chance of making money from both is 50/50, I still can't figure out why people do fall for such schemes.

 

[Niftyyem]

The only thing the two schemes have in common is that they are both high risk investments. Apart from that, everything else from the mode of operation to the realization of gains or profits even losses are totally different.

 

[Heatman]

I was in a discussion with a member here, he was telling me that gambling is a ponzi scheme. Cos one experience too many losses, meaning the loss count within the two schemes are greater than the actual winning profit. When it comes to gambling, more than 95% fall short only 5% can brag about winning on the scheme. The same also happens with ponzi, many looses money through ponzi but few recovers their capital stake and their interest rate.

Do you agree with the member here, that gambling is a ponzi scheme??

Gambling and ponzi are wide apart, they are not the same thing. The common thing between the two is that you can lose your money so quickly before you realize it. Gambling gives you a little chance of winning your money and more but ponzi is like giving your money to a criminal.

 

[Sincerem]

Gambling and ponzi are wide apart, they are not the same thing. The common thing between the two is that you can lose your money so quickly before you realize it. Gambling gives you a little chance of winning your money and more but ponzi is like giving your money to a criminal.

Lol, that's true, engaging your time on the both are total waste of time. But gambling seems better than ponzi shaa, cos you can be playing it and one day luck shines for you and you win. But in ponzi you can invest today and the next day they shut their window up, and you use woefully.

 

[Lyrrex]

Gambling is not a Ponzi scheme but just that people are not advised to gamble because gambling is not for everybody there is a possibility that you will lose 90% of what you invested in your whole life of gambling , People who are already into gambling are still looking for a way to come out because they are addicted.

 

[Dubai]

I was in a discussion with a member here, he was telling me that gambling is a ponzi scheme. Cos one experience too many losses, meaning the loss count within the two schemes are greater than the actual winning profit. When it comes to gambling, more than 95% fall short only 5% can brag about winning on the scheme. The same also happens with ponzi, many looses money through ponzi but few recovers their capital stake and their interest rate.

Do you agree with the member here, that gambling is a ponzi scheme??

No, gambling is not a Ponzi scheme and should not be classified as one. The method of operating are different. In Ponzi, there is always a means to cheat every participant by those created the scheme. But in gambling, you get what you deserve depending on which side of the odds you find yourself.

 

[Sincerem]

Gambling is not a Ponzi scheme but just that people are not advised to gamble because gambling is not for everybody there is a possibility that you will lose 90% of what you invested in your whole life of gambling , People who are already into gambling are still looking for a way to come out because they are addicted.

Lol, they won't come out of it till they spend all they have for life. I agree with you, it isn't a ponzi scheme, because they operate legally by obtaining license from the govt. Just that the chances to win it is very slim, that's why I'm not playing it again, I don't see myself having future there.

 

[Lyrrex]

Hahhahahhahahahhahahahhahahaa,and the funny thing about this gambling of the thing is that once you are into it you will find it very difficult to get out,I'm really happy that you came out from it that you were not addicted to gambling.

Lol, they won't come out of it till they spend all they have for life. I agree with you, it isn't a ponzi scheme, because they operate legally by obtaining license from the govt. Just that the chances to win it is very slim, that's why I'm not playing it again, I don't see myself having future there.

 

[Bimsy]

Gambling and Ponzi scheme are the same a diligent person will never be involve in doing them . It result in failure and heartache. My own opinion is a NO to both , I can’t imagine a sane person investing in such

 

[Sincerem]

Hahhahahhahahahhahahahhahahaa,and the funny thing about this gambling of the thing is that once you are into it you will find it very difficult to get out,I'm really happy that you came out from it that you were not addicted to gambling.

I was very much addicted to it, cos I lost more than $2k within the interval of 4 years. Just as I told you, through my school feeding money, when they send for me, I will cut it into two, one side for gambling. I was so addicted that the entire streets call me gameboy, that's I opened a gaming centre but not gambling one. It is a game hall, where gamers come together to play game consoles.

 

[Lyrrex]

Wow, I'm so happy to hear that you have come out from it but the gaming centre you are talking about is it also like betting because there is some form of betting that people will just predict who will be the winner in games so I don't know if you were operating that sort of gaming centre.

 

[Heatman]

Lol, that's true, engaging your time on the both are total waste of time. But gambling seems better than ponzi shaa, cos you can be playing it and one day luck shines for you and you win. But in ponzi you can invest today and the next day they shut their window up, and you use woefully.

Exactly. I can remember when I was into betting with Bet9ja. I actually won a lot of money from the bets and still lost a lot of money. It's more like 60-40 outcome for me, so I decided to quit betting. As for ponzi, I don't want to remember my past in it.

 

[Sincerem]

Wow, I'm so happy to hear that you have come out from it but the gaming centre you are talking about is it also like betting because there is some form of betting that people will just predict who will be the winner in games so I don't know if you were operating that sort of gaming centre.

Lol, you really know whole lots of gambling options. Sometimes gamers there bet on themselves who will win, they also host cup competitions for themselves determining who wins and take all the profit. That's their own risk, I don't get myself involve in their business cos I don't want to spoil their own way of making extra bucks.

 

[Lyrrex]

Lol, you really know whole lots of gambling options. Sometimes gamers there bet on themselves who will win, they also host cup competitions for themselves determining who wins and take all the profit. That's their own risk, I don't get myself involve in their business cos I don't want to spoil their own way of making extra bucks.

If you don't get yourself involved with their business then how do you make your own money because i think you will be the one to organise the whole thing for them so they will pay you I don't know just saying

 

[Oloritoks]

Gambling is different from Ponzi scheme in the sense that you will have to risk some amount of money to win a large sum of money while Ponzi scheme don't do so but tell you to bring a refferral to earn some money.

 

[Heatman]

Gambling is different from Ponzi scheme in the sense that you will have to risk some amount of money to win a large sum of money while Ponzi scheme don't do so but tell you to bring a refferral to earn some money.

Whenever I hear about ponzi, MMM and Ultimate cycler comes to my mind because these two ponzi nearly sent me to the village because I almost became bankrupt. Thank God, I later picked up and found my feet back.

 

[Ralphjoe]

Ponzi scheme are quite different from gambling in the sense that they both operates differently, ponzi operates on a system that seeks to pull someone's resources to pay another while gambling assembles so many people resources to pay few lucky people. This explains why ponzi schemes normally crash as that kind of business model is not sustainable but gambling companies never crash.