12 Nov 2014

Is It Good, Holy, Christianly, Godly, Right For A Person To Bet or Gamble?


Welcome back to the series on making money online. Today I start the 2nd part of the series on making money in the lottery/sports betting industry. From the table of contents, there are five major ways to make money in this industry.

But before I start at all, this is a very dicey one, and my mum will not accept any explanations I give about allowing a Christian to bet, but please be patient with me as I answer the question my article title poses.

As a Christian, I had to discuss this with other Christian friends who believe Christians shouldn’t bet or gamble or invest in the lottery or gaming industry for any reason, trying to convince them it is ok for a Christian to make money in this industry.

Let me start from the bible before I move on to logic and other explanations.

First biblically;

Casting lots in the bible was a common practice and it is similar to throwing dice today. The Urim and Thummim were the holy dice placed in the High Priest's Ephod (Exo 28:30) and the two must say the same thing for you to know God's mind about what you were inquiring about. The practice of 'casting lots' is mentioned more than 77 times in the KJV (70 OT, 7 NT), and it was a commandment from God for the Israelites should they need guidance from him on making certain important decisions involving many different people/choices.

My favorite 'casting lot/lots' (KJV) verse is Prov.16:33 which says, "The lot is cast into the lap; but the whole disposing thereof is of the LORD". Even the 11 disciples used it to choose the disciple who replaced Judas Iscariot (Acts 1:26), and you can also see it being used by the Roman soldiers in deciding who gets to keep Jesus' robe in Matt 27:35 (If I was a Roman soldier too, I would have bet to get that robe that healed people.lol)

As Christians today, we have the Holy Spirit who can guide us in making decisions. And if you are matured enough to hear and follow him, you won't either need to make money in this industry because he leads you elsewhere, or you will make money in this industry because he directs your path here and you follow him.

Now, to the other explanations:

I will not recommend Sports betting, the same way I will not recommend playing for 'Who wants to be a millionaire?', trading Forex, Stocks, Mutual Funds, applying for a scholarship/grant, playing Chess, Poker, and many other money-making activities.

Why? Simply because you can lose money/not get what you requested for, and some people have committed suicide after they lost money doing some of those things. But that won't make sense at all!

Are there people making money in all of those things I just mentioned? Of course there are.

Are they/there professionals, who can explain to you again and again how they make money in those things? Of course.

Does that mean you will make money from it? No! Does it mean you should not try it? No! The key is in understanding what it takes to making money in a particular thing, and then deciding for yourself if it is meant for you.

In my article on trying to make money with the gambler's mentality, I already explained why you should ditch your get-rich-quick mentality in order to make money in the long run, and not hoping for one-hit home runs.

However, you can make money in this industry.

The gaming/lottery industry is almost a multi-billion dollar industry, how come? Simple! Everyone has an innate desire to be lucky. Do you see or read about someone who won millions in lotto, and you secretly wish it was you? Do you one day dream of winning a large sum of money that you can use to build a house, or buy a car, or fund your education? If your answer to any of these questions is yes, you are not alone, most people are like you. 

Everyone has fantasies, and wishes and we develop love for a particular sports club/ famous TV personality, or even our country’s national team, and then you want to put your money where your mouth is. It is this need businessmen try to meet when they set up betting companies.

What are the arguments against gambling/gaming?

a) It is risky. But so also is Life- everything we do in life involves different degree of risks. So the excuse that gambling is risky is not enough reason to discourage anyone from betting. It is a risk to leave your house everyday- you just might be involved in an accident. It is a statistical risk/gamble to start a business, even after due diligence things can still go wrong. It is said that 9 out of 10 start-ups die within 1 year, and 9 of the remaining die within 10 years. It is a big risk to buy the shares of companies as you might lose your money, yet there are rich stock investors. So when it involves risk and you can’t totally determine the outcome (it is beyond you), you are said to be gambling. Just as Medicine, or real estate, or blogging, or stocks, or marketing isn’t for everybody, so also betting isn’t for most people. Yet you find many people buying tickets to win the lottery because (though it is a 1 in 180 million chance of winning the lottery,) "if you don't buy the ticket, you can't win."

b) It is evil because it is a form of get-rich-quick scheme. If you have been following this blog, you know that it is not in your interest to get-rich-quick. In researching this method, I found out that most people who play the lotto or bet (online) lose their money in the long run (even if they win at first,) simply because they have a 'get-rich-quick' mentality, so they bet with their heart instead of their head. They believe they can get rich quick, whereas it is the house/lottery company who simply gets rich- albeit, at their expense. But even worse is the fact that winning a large sum of money suddenly which your mind is not developed for can be very detrimental to you in the long run (read my article on it). It can result in family/marital instability, personal troubles and in the worst cases, even death. The key is in taking small ‘profits’ over time.

c) It is a sin/crime: My mum, for example, believes gambling is a sin, but she doesn’t see anything wrong in going for TV game shows like Who wants to be a millionaire? Or, sending WIN to 7777 for N100 per text to win Glo’s N100 million, or participate in Airtel or MTN’s equivalent because they are telcom companies and not Lotto companies. It is only a sin and a criminal offense when you defraud people, or when the law is against gambling (online sports betting is illegal in some parts of USA). In the bible as I said earlier, you will see several cases where ‘lots’ were being cast as a means of selection/to settle issues. God permitted it because he knew/decided the outcome. Once you know what you are doing -the outcome, it ceases to be gambling to you. There are PROFESSIONAL gamblers/sports traders. They do this for a living and keep making money! (I will explain to you in this series, how they do this).

d) You cannot win: It is true that up to 98% of sports bettors, casino players and lottery ticket purchasers do not win any money in the long haul. But it is not true that you cannot win. There are professionals who win regularly. In fact, there are people who won consistently @ card games that they have been banned from gambling in casinos in the USA (check this link). Some are good at card counting, have a profound understanding of the probability of odds and have developed strategies to win regularly. While others used illegal means anyway.

There are also betting strategies employed by experts in order to ensure consistent winnings. (That is what I will share with you later in this 2nd part of the series because I want you to succeed if you choose this method).

Ed Thorp is one of such experts- professional blackjack player, who used mathematical formulas to develop a winning strategy that he used consistently to win at betting. He is also a professional hedge fund manager who has also used his strategy to make money in the stock market for more than 35 years. Billy Walters is considered the greatest professional gambler alive. He wins year in, year out. As he said in this video, he never has a losing year.

e) It is addictive. While this is true, it is only true for those who try to get rich quick and end up incurring losses upon losses. Moreover, there is responsible gambling, it is only when gambling goes out of hand, it becomes problem gambling. You might have problem gambling when you manifest one of these signs:

1. Spending increased amounts of time gambling

2. Trying to 'win back your money'- chasing your losses which continue to pile.

3. Your gambling interferes with your work, and/or social life.

Moreover, there are organisations online that assist people with problem gambling, such 
Gamblers AnonymousGamcare UKGambleaware.co.uk.


Differences between an amateur gambler and a professional/trader (why 98% of sports bettors lose all their money)

1) Lack of discipline – Not having or following a strategy. Have you ever bet on a game because it was on TV? What about betting on your favorite team? You are more likely to be indisciplined without (100% following) a strategy.

2) Bankroll Management – "This is a lock I’m going to bet my full bankroll. It can’t lose." You can't be correct 100% of the time except you are God. You must know how to manage your bankroll.
3) Betting with Your Heart – Wagering on a hunch when the numbers are clearly going the other way.
4) Not taking the time to do their homework. There is a lot of information that can be found before making a play. Most people just don’t take the time to properly analyze.
5) Not being selective enough – Always want action just for the sake of betting. They lack disciplined patience. You don't have to play simply because there is a play. In fact, as long as the earth consists, there will always be a game being played.

I have taken my time to clarify why I am telling you to consider making money in this industry.

The summary of it all is this: If you are going to read all about this industry and you are willing to be an expert at it/continue doing it for a long time, if you have or will find a mentor, if you are convinced that you have what it takes to make money consistently in doing this, then start today!

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