Gambleing sin or not?

[Apologist]

Originally posted by SUNSTONE
I say in and of itself, no gambling is not a sin. But if you create all kinds of scenarios sure it can become sin.

I would say it is dependant on your mindset as to whether it is sin or not.
To gamble a few dollars to just have a little fun is not wrong, but if you are doing it to get rich quick (Which you probably won't), then it is a sin.

We are to be wise stewards with the things God has given us and blowing our paycheck or savings on gambling is not being a wise steward.

 

[Outspoken]

"People invest there money into it,because it has a higher "chance" of return, but its not safe. Its gambleing."

The stock market isn't gambling. You are purchasing part of a company, or a good. Its not taking a chance on weather you get anything at all.

 

[A Sheep]

Originally posted by cenimo
Once upon a time...

It's also a means that brokers and others use to separate investors from their money

A Sheep

Here we go, Wall street 101

churning
Showing an activity in an account that would otherwsie be stagnant.
Brokers get "heat" from their bosses when accounts stagnate, show no action, so they are told to call such clients and push whatever the brokerage house is overbought on. If the client makes money, that's nice, if the client loses money, too bad but the brokerage house still gets it's commission. They woul rather see action in an account -  "win or lose" -than no action at all, they don't make any commissions when there is no action.

 

www.investopedia.com

They have an online dictionary that is defintiely worth taking the time to read up on, among other things on ths site.

(I gave you the definition in street jargon, not theirs, but read theirs).

Don't use a broker then-invest on your own.

 

[A Sheep]

Originally posted by Outspoken


The stock market isn't gambling. You are purchasing part of a company, or a good. Its not taking a chance on weather you get anything at all.

True.

 

[cenimo]

When it comes to the stock market I'm concerned about the return of my money more than the return on my money

Will Rogers

 

[Outspoken]

ahh..another example came to me. If you go garage sale shopping, you're not gambling, you're looking for a deal, something priced lower then it should be (ie it is worth more). This is not gambling, its bargin hunting. This is what drives the stock market. That company will be worth something soon, or is going up in price, I'm going to invest it in hoping it will keep producing more. If it does not, I do not loose my money all together, I just buy something that is not worth as much as I thought it was. Gambling is nothing like that at all. You don't get any product from it.

 

[A Sheep]

Yeah; if you purchase something for much less than retail hoping that it's a valuable antique, but it turns out to be worth what you paid for it, you're not out of your money because you have a product. Unlike the lottery, because if your numbers do not match the "winning" numbers, you are out money and with nothing to show for it.

 

[SUNSTONE]

Originally posted by Apologist
I would say it is dependant on your mindset as to whether it is sin or not.
To gamble a few dollars to just have a little fun is not wrong, but if you are doing it to get rich quick (Which you probably won't), then it is a sin.

We are to be wise stewards with the things God has given us and blowing our paycheck or savings on gambling is not being a wise steward.

In order for you to say that first paragraph, you would have to believe that getting "rich quick" is a sin, and that is another topic for another thread. Which by the way, just like gambling, is not in the bible, but I could be wrong. So show me what verses you are referring too.

 

 

[SUNSTONE]

Originally posted by Outspoken
"People invest there money into it,because it has a higher "chance" of return, but its not safe. Its gambleing."

The stock market isn't gambling. You are purchasing part of a company, or a good. Its not taking a chance on weather you get anything at all.

If you short sell stock, you are not buying stock. Its a weird thing, what you are doing is predicting the stock will fall, and so you hope it crashes to the ground. But you don't own anything, its just you predicting it to loss money.

Also lets say you buy stock long term, now you own some stock.  All of a sudden the bottom drops out, its happened before, now you have some nice fancy looking T.P.

Stocks don't just sit there they rise and fall, and with each rise and fall someone makes money, and someone losses money. They are people who are taking a chance to try and make some money through predictions in the stockmarket, and that ladys and gentlemen is called gambleing. It "usually" is a safer gamble than casinos, but everyone knows that. Everyone  goes into the casinos to have fun, with the hopes of striking it rich.

Everyone plays the stock market to try and make some money, in the hopes of striking it rich.

 

[SUNSTONE]

Originally posted by A Sheep
Don't use a broker then-invest on your own.

You can't, someone needs to work the floor, and if you do it alone, you need to be a stock broker.

 

[Outspoken]

"But you don't own anything, its just you predicting it to loss money."

No, you actually buy and then sell it.

"Everyone plays the stock market to try and make some money, in the hopes of striking it rich."

Not true at all. 1. I don't 2. its not gambling at all, its investing.

 

[Outspoken]

Gamble:To play or game for money or other stake.

Invest"To commit (money or capital) in order to gain a financial return: invested their savings in stocks and bonds.

 

[SUNSTONE]

Originally posted by Outspoken
"But you don't own anything, its just you predicting it to loss money."

No, you actually buy and then sell it.

"Everyone plays the stock market to try and make some money, in the hopes of striking it rich."

Not true at all. 1. I don't 2. its not gambling at all, its investing.

Listen Outspoken you don't know what your talking about. I played the stock market in a school contest. And there is two things you can do, maybe more, but these are the two things.

1. Buy long - this means you do own stock, and you hope the stock rises.

2. Short selling - this means you don't own anything but you are just taking a chance that the stock will fall. If the stock shoots up very fast, you are for lack of a better word, screwed.

So either way you can make/win money or you can loss it. You really aren't doing anything, or any kind of work, you are just predicting what will happen. This could be based on information or a gut feeling.

 

[SUNSTONE]

Originally posted by Outspoken
Gamble:To play or game for money or other stake.

Invest"To commit (money or capital) in order to gain a financial return: invested their savings in stocks and bonds.

I don't have a dictionary, but I can garuantee that isn't the full definition of Gambleing. Now tell the truth, you either made it up, or you didn't give the full definition.

 

[Outspoken]

"I played the stock market in a school contest."

Good for you, I play it for real. what's your point?


"Short selling"

try again, you buy it fast, own it then sell it fast thinking the quick jump that happened is okay. If you're talking about futures, its the same thing.


"Now tell the truth, you either made it up, or you didn't give the full definition."

not at all..hold on I'll get the reference.

The American Heritage® Dictionary of the English Language, Fourth Edition
Copyright © 2000 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.


what I left out was "To take a risk in the hope of gaining an advantage or a benefit.
To engage in reckless or hazardous behavior: You are gambling with your health by continuing to smoke. "

Which was not pertinent to the discussion, but since you asked there it is. It was under gamble, as that is the root of gambling.

 

[SUNSTONE]

Originally posted by Outspoken
"I played the stock market in a school contest."

Good for you, I play it for real. what's your point?


"Short selling"

try again, you buy it fast, own it then sell it fast thinking the quick jump that happened is okay. If you're talking about futures, its the same thing.


"Now tell the truth, you either made it up, or you didn't give the full definition."

not at all..hold on I'll get the reference.

The American Heritage® Dictionary of the English Language, Fourth Edition
Copyright © 2000 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.


what I left out was "To take a risk in the hope of gaining an advantage or a benefit.
To engage in reckless or hazardous behavior: You are gambling with your health by continuing to smoke. "

Which was not pertinent to the discussion, but since you asked there it is. It was under gamble, as that is the root of gambling.

So you mean to tell me that there is no such thing as making money off of stock going down, which is called "short selling"? That my teacher just totally made it up, and that the whole state was tricked into believing that this was a way of playing the stock market?

And that part you left out of the dictionary doesn't apply to the discussion? That part is what makes your arguements usless, you just pulled the smoking gun out and made your client appear guilty. The judge is now going to disbar you from ever practicing law!

Hey do yourself a favor and erase that whole post, if you do that I will erase this one. I won't tell a soul and you can repost it in a different way. Hows that sound? Is it a deal?

 

[Outspoken]

"So you mean to tell me that there is no such thing as making money off of stock going down,"

when "playing" the stock market you buy or sell stocks. Its that simple.

"And that part you left out of the dictionary doesn't apply to the discussion?"

NO, it doesn't apply to it at all nor is it a "smoking gun".

 

[SUNSTONE]

Originally posted by cenimo
Sunstone

Re: the stock market

there is a tecnnique called "shorting", i.e., you are looking for a stock to decrease, not increase... the real pros make a lot of money with this technique

 

I am telling you man,  erase those posts Outspoken, before anyone sees them. I will erase mine. I promise.

 

[Outspoken]

"I am telling you man, erase those posts Outspoken, before anyone sees them. I will erase mine. I promise."

that's okay, I'm willing to bet you still own stock or something to that degree. What probalby happens is you agree to buy a stock at a set price.

 

[Outspoken]

http://www.tradewiser.com/education.html#c

there ya go, you enter into an agreement to buy a stock. its buying and selling acutal stocks.