Do you think gambling operates like ponzi scheme??

[Heatman]

I think the only reason anyone even wants to compare or place these 2 on the same level will be because of the kind of loss and negativity attached to both. Betting to me has a higher risk level because you do not decide the outcome in any way. Over a thousand circumstances determine if you win or lose. Ponzi is still kind of a bit of your own way. You are able to calculate the risk and either run or stay, something like that. A person into betting might stake a very little money and win so huge an amount.

The only thing that is very common with gambling is that you get greedy, you lose a lot of money. It's why gamblers are always told to gamble with only what they can afford to lose.

 

[Lagazine]

Gambling and ponzi schemes are not the same. The difference is clear. Gambling gives you opportunity to chose and decide on what to stake your money on, but ponzi schemes gives you their laid down rules and expect you to go by the laid down rules to earn. Earning on ponzi schemes is always 50-50 assurances. Sometimes you win in gambling and sometimes you lose.

 

[BrolySSJ]

I think the only reason anyone even wants to compare or place these 2 on the same level will be because of the kind of loss and negativity attached to both. Betting to me has a higher risk level because you do not decide the outcome in any way. Over a thousand circumstances determine if you win or lose. Ponzi is still kind of a bit of your own way. You are able to calculate the risk and either run or stay, something like that. A person into betting might stake a very little money and win so huge an amount.

I don't think you can calculate the risk when it comes to a Ponzi scheme because you cannot be assured of the working or what is happening behind the curtains. There is much that is being hidden from you in these scams and therefore there is no guarantee or no calculation to say that you will be able to make use of it and profit and when toe get out.

 

[Kamon c4]

Ponzi and gambling mode of operation can be term indifferent. Though at first Ponzi doesn’t pose to risky cause they try to convince you it’s legit and real but when you eventually feature into it you’ll realize its a big gamble

 

[Sincerem]

I don't think that gambling is a Ponzi scheme. I think that it is more like a bet of odds and trying to get the best luck that you can but of course the house is always skewed in their favour, so they are almost always going to win tint his regard and I think that many people seem to be forgetting that on a daily basis. It is not like the site take money from some to pay back others like a Ponzi scheme, and you also go into it knowing that you a lose everything which is not the case with a Ponzi scheme.

That is true, gambling platform isn't a ponzi scheme. Ponzi is a fraudulent scheme that sucks peoples money out without any genuine work for the person to do and earn. But the case of gambling is different, gambling is risk but their are some certain level of work required to succeed through gambling. To predict a match and win isn't an easy job.

Post automatically merged: Jan 13, 2021

I don't think that gambling is a Ponzi scheme. I think that it is more like a bet of odds and trying to get the best luck that you can but of course the house is always skewed in their favour, so they are almost always going to win tint his regard and I think that many people seem to be forgetting that on a daily basis. It is not like the site take money from some to pay back others like a Ponzi scheme, and you also go into it knowing that you a lose everything which is not the case with a Ponzi scheme.

That is true, gambling platform isn't a ponzi scheme. Ponzi is a fraudulent scheme that sucks peoples money out without any genuine work for the person to do and earn. But the case of gambling is different, gambling is risk but their are some certain level of work required to succeed through gambling. To predict a match and win isn't an easy job.

 

[BrolySSJ]

That is true, gambling platform isn't a ponzi scheme. Ponzi is a fraudulent scheme that sucks peoples money out without any genuine work for the person to do and earn. But the case of gambling is different, gambling is risk but their are some certain level of work required to succeed through gambling. To predict a match and win isn't an easy job.

I am not sure if it is easy to predict the outcome of a match actually and be sure that you will be right in your outcome. For example let us look at the gambling scenario that can arise when someone is betting on a sports match. It could be that the teams that are playing there is one clear winner that is going to come out, but that would mean that you are predicting human behaviour and this is unlikely because a team could have a bad day, and they could lose despite bei9gn the favourites for the match. So the prediction here are like predicting crypto, uncertain and that is why it is a gamble.

 

[Sincerem]

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.

Okay, i heard you clearly gambling isn't a ponzi scheme. Both looks the same based on the loss counts. But gambling is quite answerable as better off than ponzi. Cos you will see how you money is going through the evidence of your stake, but in ponzi you just deposit you don't know who you deposited to. One doesn't know how his or her money its been used till the day the ponzi scheme is closed.

 

[Khezo]

Gambling is not a ponzi scheme you weren't forced to do it and then when you make the right bet, you get paid only that mist times you loss more than you gain. I dont advice people to involve themselves in the act because its not really a good way to make money

 

[Ojonuyo]

Any business that cheat people of their hard earn money with pretentious strategies that looks real and convicing is consider a scam. Gambling is part of this scheme, they trick people in believing that they can win by guessing right that's cheating and not fair.

 

[Oloritoks]

Ponzi scheme is different from Gambling because you need little money to be staking on gambling of which the winning is not assured so it is better you take to ponzi scheme of which requires hardwork to gain.

 

[Akinwale701]

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, I don't think so. Gambling has a very low chance of success compared to ponzi scheme. Research has showed that most ponzi schemes pay very well and function very well at their beginning stage and everyone has a successful ride but this can't be said of gambling

 

[Sincerem]

No, I don't think so. Gambling has a very low chance of success compared to ponzi scheme. Research has showed that most ponzi schemes pay very well and function very well at their beginning stage and everyone has a successful ride but this can't be said of gambling

Hmm, maybe you find success more on ponzi than in gambling. Both of them are misleading, I can't recommend it for any one to make money online with. Cos of how the losing percentage is.

 

[Bookwormlux]

Gambling deceives you into thinking you could become a millionaire in a very short time without making any much efforts. Ponzi scheme use money someone invested to pay another member without paying the new members. They all have different pattern, but they are all not good because you can lose everything and end up frustrated.

 

[Sincerem]

Gambling deceives you into thinking you could become a millionaire in a very short time without making any much efforts. Ponzi scheme use money someone invested to pay another member without paying the new members. They all have different pattern, but they are all not good because you can lose everything and end up frustrated.

Moth are misleading, but gambling isn't a scam investment scheme, you can gain through it when luck shines for you. But ponzi is total scam, they operate only on collecting innocent persons money and never pay them all they collected. Only few gain through ponzi, the rest is loss after loss.

 

[tuna89]

One can say yes because they are similar with one major difference. Ponzi will defraud you of your money, they may pay you once and they may not afterwhich they will cease to exist while gambling will continue to exist but defraud you via psychological methods like games, fortunes etc.

 

[Sincerem]

One can say yes because they are similar with one major difference. Ponzi will defraud you of your money, they may pay you once and they may not afterwhich they will cease to exist while gambling will continue to exist but defraud you via psychological methods like games, fortunes etc.

Lol, meaning both operate in a mischievous way, trying to rip off innocent peoples hard earned money. Not easy at all, I'm not encouraging any one to go on investing on any of them. Cos the chances to win from both of them are very slim, if up to 5%, with the way I'm seeing it.

 

[Richard92]

Yes, it is the same thing they are all the same Ponzi scheme and gambling are all the same, they operate the same because the company will never use is money to pay any winner but instead use the money of those who loss to pay those who win and still make more gain because people loose than gaining in gambling.

 

[Sincerem]

Yes, it is the same thing they are all the same Ponzi scheme and gambling are all the same, they operate the same because the company will never use is money to pay any winner but instead use the money of those who loss to pay those who win and still make more gain because people loose than gaining in gambling.

Sure you spoke wisely, the both operate on same ambition. Gambling and ponzi scheme gets money when people deposit and they pay each and everyone with the money made from other people. But ponzi is a little bit worst than gambling, cos they can disappear at anytime. But gambling stays on, even if people can't win enough, but if you suddenly wins they pay you immediately.

 

[BrolySSJ]

Okay, i heard you clearly gambling isn't a ponzi scheme. Both looks the same based on the loss counts. But gambling is quite answerable as better off than ponzi. Cos you will see how you money is going through the evidence of your stake, but in ponzi you just deposit you don't know who you deposited to. One doesn't know how his or her money its been used till the day the ponzi scheme is closed.

This is true and when it comes to a Ponzi scheme that is considered to be illegal and legal action can be taken. In gambling it is a complete choice that is made by the user in order to gamble those funds that they want. Therefore even if you do lose it in gambling there's no one that you can hold liable for it apart from yourself. Also in a Ponzi scheme you getting fake promises whereas in gambling there's no promise that you are going to win.

 

[Kelvin7656]

Ponzi or pyramid schemes seem to be everywhere lately. Last year, one of the largest international Ponzi schemes, Mavrodi Mondial Movement (MMM) set up shop in Nigeria, and about 3 million people joined. Another pyramid scheme, Ultimate Cycler, reportedly registered 2,000 people every week until it shut down in December. And despite reports that people lost about ₦18 billion to MMM, a new scheme, Twinkas, keeps attracting participants, including those who have lost money before.

The media has documented these developments, dutifully pointing out Nigerians' gullibility, but something about this characterization doesn't quite ring true. In a country where being "sharp" and streetwise are hailed as virtues, it is hard to understand why millions of people would be repeatedly conned by various versions of the same scam. Are people really victims or are we victimising each other?