On your marks… Get set… Stay put & place your bet’s!
The rush of the win and the social aspects
So how do we simply ‘forget’ about our beloved hobbies/small pleasures in life?
For some of us, gambling could very well be the one & only activity where we are able to enjoy taking a risk here & there, and at the same time have a few laughs with friends. Visiting a local casino every other Friday night or so but for some, when they are unable to go, the need to gamble becomes too much.
This now being a thing of the past (for now at least) since COVID-19 is now officially public enemy number 1 (yes, I am referring to the National Lockdown here in sunny South Africa) which practically caused the entire world to come to a stand-still, meaning that there will be no more social gatherings of any kind taking place for a long while and although this is for our own protection and indeed a very necessary pre-caution to stop this virus from spreading, it still does not change the fact that some of us still crave that certain rush.
‘Where there’s a will, there’s a way’ is now our only glimmer of hope in these troublesome times and boy are we lucky in this regard! I am now talking about the obvious choice to turn to, Forex trading of course! We do not even need a fancy computer to enjoy the world of trading as there are many applications that work perfectly on your very own cell phone!
Do not however, mistake trading for gambling as this is a whole other ballgame & before any investments are made, certain rules need to apply first.
Online Gambling versus Online Trading
Know the difference!
In a bit of a nutshell: Online gambling can have the actual slots you enjoy at the casino, conveniently made available on whichever compatible device you choose, linking your bank details for easy transfer of fund whereas online trading has to do with ever changing charts & diagrams representing anything to do with currency such as the Euro versus the Dollar, Bitcoin, famous brands etc. in some cases requiring a personal broker assigned to you with only the best advice as to where the market is the most likely to change in your favour (or so they say)
According to a few insights taken from today’s TBRC (The Business Research Company) report, it states that free time due to the Coronavirus is increasing the demand for online gambling as the global online gambling market is expected to grow from $58.9 billion in 2019 to $66.7 billion in 2020 at a compound annual growth rate (GAGR) of 13.2% – This is obviously due to a large population being confined to their homes during lockdown & therefor have lots of free time and paid leisure activities, undoubtedly including online gambling.
These numbers are expected to increase up to $92.9 billion in 2023 at a CAGR of a staggering 11.4% margin. Mobile users account for about 80% of the total online gambling industry.
Gambling is usually a short-lived activity, whilst equities in trading can last a lifetime. Furthermore, there is a negative expected return to gamblers from the very start, on average and over the long run, whereas investing in the stock market (if done correctly) typically carries with it a positive expected return on average over the long run. However, make no mistake, trading stocks is a form of gambling. If there are two things a Forex trader knows, it is that there is always risk, and you will lose money at some point in your career. It is simply the cost of doing business as a Forex trader. This is part of the package as they say, you win some, you lose some.
Do not get lost in hopes of beating those odds stacked against you
Cash out while you are ahead.
I guess that some days are just ‘luckier’ than others and knowing when to stop can save you from a world of regret later.
Do all the necessary homework before trying your hand at online trading. Remember to see the whole picture and that it is not only just a game to have fun at, it is your hard-earned money that you might be giving away too easily. It is always a bad idea to have your credit card linked to any online gambling or trading sites as it is just too easy to go over your intended budget, leaving you feeling disappointed and broke. I would suggest opening a savings account whereby you can deposit exactly the right amount of cash without breaking the bank. If you lose then you try again next month. If you win, well, try not to get greedy and cash out while you are ahead. Discipline is key, hence the casino’s statement of: Gambling permitted to over 18’s only, enjoy responsible gambling, winners know when to stop.
Occasionally, stop and smell the roses or rather just appreciate each moment for what it’s worth because any rich person would tell you that having a lot of money is comforting to know, however, being able to appreciate the value of true riches, the riches of say, having a family and friends to love & cherish are the ‘small things in life’ which actually matter the most and for us to experience this current pandemic, it is all too easy to lose someone you love and on the other hand, it is even easier to only realise this when it is too late. Do not take that chance only to wish you could go back & stop yourself from becoming so greedy. Money does not literally make the world go round.
Let us create our own luck, after all, we can change this narrative. Read how to retire rich with very little risk