The morality of gambling.

I said a few days ago I would write something about the morality of gambling, so I better get it out of the way.

When I was young I used to think gambling was Ok. A good laugh. My one concern if you compared it to drinking for example, is that you can only spend so much on drinking, but losses on gambling are potentially a lot more expensive.

Then the betting exchanges came along. This is good. The average savvy punter can make a few quid on Betfair. Then the exchanges like betfair evolved. Bots, Poker, Casino. The average savvy punter can now lose lots. Not so good.

Recent experience of a buddy of mine losing lots on BF has changed my attitude to gambling. I now think it is bad, and should be controlled, especially on the internet. When you see friends lives deteriorating, it is is very difficult not to draw this conclusion.

BF effectively banned me a couple of months ago. If they ever change their decision, I would probably play again but for smaller stakes. The main reason I would rejoin would be to stay in touch with the "politics" of Betfair. See how it develops, and see how the average punter views these developments.

Either way I'm not that bothered.

I suppose there is a follow up post to this one, drawing an analogy between a company like Betfair and the Internet betting revolution, and the collapse in world stock markets.

Obviously hedge fund managers and people like Madoff have been gambling like crazy for the last ten years. Suddenly it all went pear-shaped. everyone has ended up losing loads of money, apart from the ones who made it. Is this the best way to run the world economy. I don't know. Probably the least bad system. Anyway we will leave that for another day.

To return to my original question. Is gambling immoral? As a friend of mine said the other day. For every winner there is a loser. So the answer is yes. Does not mean to say I won't have a bet again, but at the moment I am not that interested, and quite honestly have better things to do with the rest of my life.

Comments

[johnn]

These things are all subjective, John. As you can gamble (and lose) too much, you can also drink, take drugs, excercise (pah) too much also. It's easy to say, but the onus should be on the individual to control your own habits - and seek help if you can't. Anyway I've got to go - there's a Bandy match on shortly and the 1.27 on Hindustan looks like value to me, although I've never heard of them :-)

[john2e]

Cheers johnn.

[Philip H]

Although it is up to the individual to indulge in gambling it has become far too easy in this country bet on virtually anything, at any time and in any place. In my younger days it was far harder to have a bet legally. Now, it is far too easy.

When betting shops first appeared it was the thin end of the wedge. Gradually, more and more schemes were introduced in order to relieve the ordinary Joe and Jill of any spare cash they had - or even cash they did NOT have. The gangster era in America used to run the "numbers game" and our government thought it a good idea and started the lottery. A 14,000,000-1 bet and millions fell for it. Once a week, now twice a week. Also scratch-cards, for the new addicts who couldn't wait for the next Lotto. We now have thousands of people who are scratching away all their housekeeping at times! High-tech casino games in betting shops, where people feed tenners and twenties into the slot and come back for more when they get paid again.

Instant results make such things as scratch cards and gaming machines very attractive to the hardened addict. Psychologically these things are so attractive to the hardened punter as to be compulsive in the extreme.

As you say John, even the financial sector has been enveigled into this madness and we are now ALL paying for this mania.

Phil H.

[john2e]

We are singing from the same songsheet Philip.

I think it has all got a bit out of control, and needs reigning in a bit.

[Cassini]

http://green-all-over.blogspot.com/2009/01/nanny-its-not-my-fault.html

Stay warm.

[theBA]

It is up to the individual to take part in whatever he/she chooses to do. People need to be responsible for their own actions. Gambling with money that is needed for other things is not a responsible action.

[Brian]

Having said all that JT it was ever so slightly naive to suggest that BF were a revolutionary company and to laud Bert as u did.

A load of money grabbing public school types wiv a gud idea innit!

[john2e]

Thanks for all the comments.