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Gambling is not a waste of resources. It is a transfer of resources from one entity to another. It's a zero-sum game. On an individual level, gambling is rough
by heliodor 5y ago
Gambling is not a waste of resources. It is a transfer of resources from one entity to another. It's a zero-sum game.
On an individual level, gambling is roughly breaking even in the long run (say, 95% retention of the resources).
- dragonwriter 5y ago> Gambling is not a waste of resources. Yes, it is. > It is a transfer of resources from one entity to another. It's a zero-sum game. All real gambling consumes as well as transfers resources, and is, therefore, negative sum.
- heliodor 5y ago> Yes it is. No it's not. Are we "debating" like in first grade or what is this?
- odonnellryan 5y agoWhat do you mean consumes? By your definition it seems literally everything is a "waste of resources"
- dragonwriter 5y ago> By your definition it seems literally everything is a "waste of resources" Most activities use resources. Many produce value and are not a waste of resources.