Do you think gambling operates like ponzi scheme??

[Sincerem]

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.

That's true you said dear, in ponzi scheme lots of promises is laid around it. In order to lure one to throw his or her money up in the air. Why in gambling no one forces any one to play, it is willingness. Their is total luck in gambling, but it seems better off than in ponzi scheme.

Post automatically merged: Jan 14, 2021

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?

Lol, you spoke well, I've never been a victim of ponzi scheme nor victimized anybody before. I know how ponzi operates, and I know their tricks. I make sure I make proper research about any emerging investment scheme before venturing in to avoid undue scam from group of unanimous theft.

 

[Bookwormlux]

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.

People would always defend what they like, same way you are defending gambling that is how some people are defending those ponzi schemes. I can never advise anyone to gamble, especially sports betting. It has ruined many lives.

 

[Sincerem]

People would always defend what they like, same way you are defending gambling that is how some people are defending those ponzi schemes. I can never advise anyone to gamble, especially sports betting. It has ruined many lives.

Lol, I have played gambling before, it sucked my money a lot, I made some winning but not like my losses. Atleast you'll see how your money manage to go away. But in ponzi you don't know any one taking your money, you just invest waiting for returns without working for it. You wait when Mr B will bring his money, then they pay you. Who will bring the one Mr B will earn from?? That is what I'm talking about.

 

[Bookwormlux]

Lol, I have played gambling before, it sucked my money a lot, I made some winning but not like my losses. Atleast you'll see how your money manage to go away. But in ponzi you don't know any one taking your money, you just invest waiting for returns without working for it. You wait when Mr B will bring his money, then they pay you. Who will bring the one Mr B will earn from?? That is what I'm talking about.

Okay, I now understand you better. Nevertheless, they are both not good and should be avoided. With gambling, you could become addicted to it and it can make you sell your house equipment just to bet. I always advocate for better earning methods like forum posting because payment is guaranteed.

 

[Sincerem]

Okay, I now understand you better. Nevertheless, they are both not good and should be avoided. With gambling, you could become addicted to it and it can make you sell your house equipment just to bet. I always advocate for better earning methods like forum posting because payment is guaranteed.

Yeah, I was playing it before, but I lost interest on it. Cos I was losing out, it reduced my money a lot, that I don't even think about anything just gambling. Both gambling and ponzi are not encouraging, and doesn't worth it. Forum posting, and other meaning online jobs is better off than it.

 

[Lyrrex]

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 understand your point but on Ponzi scheme you only invest sometimes and they promise huge and attractive amount of percentage return on investment, like the mmm it was one of the Ponzi scheme that defrauded a lot of Nigerians of millions of naira.

 

[Sincerem]

I understand your point but on Ponzi scheme you only invest sometimes and they promise huge and attractive amount of percentage return on investment, like the mmm it was one of the Ponzi scheme that defrauded a lot of Nigerians of millions of naira.

Mmm, defrauded some Nigerian people 18 billion naira in total. That amount is very astronomical, imagine that kind of money made by such ponzi, taking innocent peoples money and enriching themselves. Even some of my family members were defrauded by mmm, I told them not to invest, cos the investment company is not operating with license.

 

[Abibatabosede]

I can agree that gambling is Ponzi, because you only win a little part of what you invest for a very long time. The only difference between the two of them is that you know you are taking a risk either to gain or loose in gambling.

 

[Lyrrex]

Mmm, defrauded some Nigerian people 18 billion naira in total. That amount is very astronomical, imagine that kind of money made by such ponzi, taking innocent peoples money and enriching themselves. Even some of my family members were defrauded by mmm, I told them not to invest, cos the investment company is not operating with license.

That is really nice that you still remember that popular Ponzi scheme, infact the amount of money you just mention that was defrauded by the mmm actually gives me a shock,so sorry about the Lost from most of your family members ,i hope you did not invest in the project ?

 

[Sincerem]

I can agree that gambling is Ponzi, because you only win a little part of what you invest for a very long time. The only difference between the two of them is that you know you are taking a risk either to gain or loose in gambling.

Gambling looks like ponzi because of the losses involved in it. But better off than ponzi cos, when you win your winnings won't be denied, you will get all you invested and won in your ticket. But in ponzi you aren't sure of your winning.

 

[Dowenship]

The different I noticed is gambling last longer than ponzi scheme, Maybe due its narrow way of winning, but they are of same categories. Non of this two is worth Spending money on... Its A waste of time! Although some people do testify good about it...

 

[Mika]

gambling and ponzi schemes are completely two different concepts. While gambling is a game where you bet money, where the win and loss are determined by various factors, such as your luck, your skills (in terms of card games), and the program used to create the game. Ponzi scheme is nothing by a way to cheat money.

 

[Bookwormlux]

Mmm, defrauded some Nigerian people 18 billion naira in total. That amount is very astronomical, imagine that kind of money made by such ponzi, taking innocent peoples money and enriching themselves. Even some of my family members were defrauded by mmm, I told them not to invest, cos the investment company is not operating with license.

Do you know that with these experience, a lot of Nigerians still haven't learned their lessons? I still see a lot of people investing in ponzi schemes. They would argue with you if you ever try to tell them that those things are scam. It is pure greed that make people have this mindset.

 

[Sincerem]

Do you know that with these experience, a lot of Nigerians still haven't learned their lessons? I still see a lot of people investing in ponzi schemes. They would argue with you if you ever try to tell them that those things are scam. It is pure greed that make people have this mindset.

They will never learn till they lose everything they have in life. Ponzi is never easy to engage on. Together will gambling they will make you lose many things in life. I can never advise any one to indulge in such.

 

[Sanusi]

For me its a no because gambling is like putting your money on a particular thing it could be a football match,casino and so on,so the rate at which you win is very slim because you loose or you win when its comes to gambling.But on a ponzi scheme it is kind of a 50-50

 

[Sincerem]

For me its a no because gambling is like putting your money on a particular thing it could be a football match,casino and so on,so the rate at which you win is very slim because you loose or you win when its comes to gambling.But on a ponzi scheme it is kind of a 50-50

Okay, for me the chance of making profit through ponzi scheme is weak I will say just 2%. While gambling is just 5%, both of them are no longer recommended. I'm not spending a dime for them again cos their is too many losses that goes around both.

 

[Nomad]

Ponzi schemes is a money making tactics where money from A is taken and some portion of the money is given to B as profits. A is then compensated from the money taken from C. This is a cahin where everyone is cheated. It is not a business,nit is way to scam people. Gambling is a money game. The win and loss has 50-50 chances. However, it is also true that the gambling programs are programmed in a way that 99 percent will lose.

 

[Sake]

Gambling looks like ponzi because of the losses involved in it. But better off than ponzi cos, when you win your winnings won't be denied, you will get all you invested and won in your ticket. But in ponzi you aren't sure of your winning.

True, in gambling everything is up to the bettor not the system. They wouldn't run with your money or tell you to sell your assets and give it to them for a huge return. Gambling doesn't force the bettors to invite their family and friends to join in too for a higher income.

 

[Sincerem]

True, in gambling everything is up to the bettor not the system. They wouldn't run with your money or tell you to sell your assets and give it to them for a huge return. Gambling doesn't force the bettors to invite their family and friends to join in too for a higher income.

You said perfectly well, everything is decided by the bettor itself. They don't force anybody at all, it is of ones interest to gamble his money out. Gambling never engage on bringing any friends or relations to win bigger, rather you play alone, and win or lose your money.

 

[Sake]

You said perfectly well, everything is decided by the bettor itself. They don't force anybody at all, it is of ones interest to gamble his money out. Gambling never engage on bringing any friends or relations to win bigger, rather you play alone, and win or lose your money.

Indeed, it's almost just depends on your luck and strategies. But when you win. You will surely get everything whenever you wanted to. They never hold the money of the bettors and keep making promises. I don't know why someone would say it's a scheme.