Florida Council on Compulsive Gambling and Day Trading
In a statement, Pat Fowler, executive director of FCCG said, “There’s more gambling going on in the stock market than all other forms of gambling combined. And for some people, it will end up having the same impact on their lives as compulsive gambling.”
Fowler sites examples of how day trading can ruin peoples lives, such as; college students amassing such losses they must drop out of school to repay the huge debt, a grandmother who turned embezzler to pay for her addiction, or a businessman who turned to selling drugs to cover his losses.
I found this article on “Casino Gambling Web,” a website that also published an article entitled “Online Day Trading and Internet Gambling are the Same Thing” which concludes that the US government should “either legalize Internet gambling, or criminalize day trading” which is dumb considering they are very different in many important ways.
Yes day trading can be gambling, but so can crossing the street if you close your eyes before crossing.
How can you avoid gambling – even with craps in Atlantic City? Just know your odds before you bet and define your risk.
