Is there a difference between trading and gambling? - Page 4

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Thread: Is there a difference between trading and gambling?

          
   
  1. #31
    eliminat0r85's Avatar
    eliminat0r85 is offline Senior Member
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    Quote Originally Posted by A.D View Post
    The only type of gambling I'd compare with trading would be poker. As a regular trader and a casual poker player you experience several similarities with the decision making process, risk/reward scenarios and psychological aspects. It's no coincidence that you see countless hedge fund guys playing high stakes poker.

    The biggest difference between all forms of gambling and trading is that when you place a bet of $1,000 you either lose the $1,000 or win your bet, with trading you can invest $1,000 and pull $900 off the table if circumstances change. That's a pretty significant advantage.

    Also, if you look at sports betting, the best of handicappers will pick at only 59% against the spread. Bookies have the ability and legal right to close your accounts and ban you if you're winning too much money and they don't have to give you an explanation (happens a lot here in Australia, and bookies collaborate and share clients so if you get shut down by one, chances are the rest will close you out as well). In the markets you can trade with a 100% success rate and nobody can stop you.

    One of my favorite sports betting success stories is Bob Voulgaris, and if you follow his twitter you'll see that he rarely finds a bookie in Vegas that'll take a bet of more than $10k. The more successful you are, the more difficult it becomes and he doesn't recommend handicapping as a career to anyone.

    I'm going to assume nobody is making the comparison to casino games here, if so that's a little ridiculous considering the mathematical edge.
    I agree with most of this. Casino games and trading are completely different. When it comes to sports betting and poker its about the same, the one glaring difference is once everyone knows you're good its harder to get action down.
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  2. #32
    Eric.L is offline Member
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    Does anyone here play craps? That's the game I see most investors, brokers, and bankers play at my casino and I think it relates to trading more than poker now that I think about it. You can bet both ways like going long or short on a stock, you can hedge your bets, you can change your bets or bet on numbers as the roll continues pressing numbers or pulling money off the table. We're as in poker you can only add to the pot you can't pull money out.

  3. #33
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    Quote Originally Posted by Eric.L View Post
    Does anyone here play craps? That's the game I see most investors, brokers, and bankers play at my casino and I think it relates to trading more than poker now that I think about it. You can bet both ways like going long or short on a stock, you can hedge your bets, you can change your bets or bet on numbers as the roll continues pressing numbers or pulling money off the table. We're as in poker you can only add to the pot you can't pull money out.
    Yes but craps is mainly a game of chance where as with poker sometimes it is the luck of the draw on cards but skill sets good players apart from the rest, there are a lot of human elements when playing poker against others that you can take advantage of. you cannot do this in craps, you are simply betting for or against the dice. Most of those people play craps because it offers the biggest rush in the shortest amount of time. You can constantly modify your position but at the end of the day its you against the dice it doesnt matter whos rolling them.
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  5. #34
    Eric.L is offline Member
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    Yeah I get what you're saying and you're right about craps technically craps is a game of chance that's why they don't allow it in all states where as poker is technically a game of skill well from a casino stand point at least.

    I was just putting craps in there to be thought about I'm not really a gambler I play maybe 4 times a year and when I do play it's blackjack or craps.

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