By Nicholas Cheong
Why is gambling bad? Why do so many religions and governments abhor gambling?
Is gambling "bad" simply because it encourages greed? Or is it because it encourages laziness, as winners do not do anything significant to deserve their winnings? Or is it because it deals primarily in earnings through a game of chance?
No. It is because gambling is a zero-sum game. A zero-sum game is one where total gains exactly equal total losses among all the players at any one time. No net wealth is created or added to society by engaging in the activity.
Why is gambling bad? Why do so many religions and governments abhor gambling?
Is gambling "bad" simply because it encourages greed? Or is it because it encourages laziness, as winners do not do anything significant to deserve their winnings? Or is it because it deals primarily in earnings through a game of chance?
No. It is because gambling is a zero-sum game. A zero-sum game is one where total gains exactly equal total losses among all the players at any one time. No net wealth is created or added to society by engaging in the activity.
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