Relevant verses:
Wealth gained hastily will dwindle, but whoever gathers little by little will increase it. (Prov 13:11)
Many about not loving money.
The lot is cast in the lap, but its every decision is from the Lord. (Prob 16:33)
From Pyro series from Glen:
- gambling is by default a zero sum game where no wealth is created.
- definition: to risk something of value on the outcome of something that involves chance, uncertainty, or hazard, for the possibility of winning something of value that someone else is risking.
- the risk is artificial - created by the game itself.
From Jim Paul (What I learned losing a million dollars):
- speculators: root is to anticipate or see the future. Speculators are buying for resale rather than for use or income. They part with capital in the expectation of capital appreciation. Speculation is the systematic application of the mind to the problem of an uncertain future.
- bettors: betting is an agreement between two parties where the party proved wrong about the outcome of an uncertain event will forfeit a stipulated thing of value to the other party. A bet is about being right or wrong.
- gamblers: gambling is a derivative of betting, except the motivation is not being right but being entertained. Winning is desired only in that money is needed to keep playing.
Is gambling wrong? This question has not been as easy to answer as I thought it would be, namely because I look at a slot machine and say, “bad” but then see the exact same behavior in the stock market, which others call “not bad.”
If you start with a casino being bad, you can easily make your way to the fact that the stock market is bad, too. And if you start with the stock market being good, you can backpedal into a casino being good.
Here is an abstract version of the question: given an uncertain future, is it wrong to look for ways to make profit through superior strategy?