Re:Robinhood has lured young traders, sometimes with devasta...
by ideals on Wednesday July 08, 2020 @06:02PM
(#23774675)
They do have that money tho. The example given was a guy how took out cc advances and pulled equity. The casino doesn't care if you show up with a pocket full of cash from cc advances.
Re:Robinhood has lured young traders, sometimes with devasta...
by penagwin on Wednesday July 08, 2020 @05:44PM
(#23774573)
> How much does a Vegas casino let the average person gamble that they don't already have?
Do people not just gamble on credit? I highly doubt casinos care about the average person's financials, as long as the money ends in their pockets.
I see no difference between the stock market and gambling, sure there's "smart strategies" to the stock market but at the end of the day it's the same result for anyone with a gambling addiction to either.
Re:Robinhood has lured young traders, sometimes with devasta...
by kjksf on Wednesday July 08, 2020 @06:13PM
(#23774775)
The difference is that in a casino you loose on average.
In stock market, you win on average.
Not to mention that stock market is much more a game of skill than game of chance (as is most of casino games).
I did very well in stock market and I don't feel like I'm gambling. I recognize there is risk and I lost money on some investments but I can usually pin point the reason I lost. It's not random.
So many of these stories involve highly-leveraged options stuff, reminiscent of stuff that even my schoolbook US history summation of the Great Depression described as super-dangerous.