Ah, gambling. One day you’re broke, and the other day you’ve got more money than you could ever imagine, so much you won’t ever run out of anything.
Do you want to make huge money online, too?
Of course you do. Who doesn’t? But how do you go about it? Do you follow the hype and try your luck with crypto, gambling, or sports betting?
But before you jump into the world of gambling, you need to know what it really entails, what are the risks involved, and what are some better alternatives to earn money online safely and legally.
In this article, we will discuss what gambling is and how it works, the pros and cons of it, some common types of gambling, and whether or not there are any safer and smarter ways to make money online.
What is gambling and how does it work?
Gambling is the activity of wagering money on uncertain events that depend on chance or skill. For example, you can gamble on the outcome of a coin toss, a dice roll, a card game, a lottery draw, a horse race, a sports match, or a stock market movement.
Let’s take crypto trading as an example. Many people are attracted by the potential of making huge profits in a short time, and crypto prices can change dramatically in a matter of minutes. Some people claim that they can predict these price movements by using technical analysis, market trends, or gut feelings. They believe that they can buy low and sell high, and make a fortune.
Gambling also involves psychology and emotions. Many gamblers experience thrill, excitement, anticipation, hope, fear, regret, and addiction. Some gamblers believe that they have a system, a strategy, or an intuition that can help them beat the odds.
The main attraction of gambling is the possibility of winning more money than you invested. However, the probability of losing money is also high, as high as the probability of winning. This is because gambling involves risk and uncertainty, and the outcomes are not under your control. And, while the risks are high, so are the possibilities.
The possibilities you get by betting or trading crypto
These activities may have high risks, but they also have extremely high rewards. Let’s look at some of the biggest advantages of this way of money making.
Betting on sports is a form of entertainment that involves placing bets on the outcome of various sports events. The main benefit of betting on sports is that it can be fun and exciting, especially if the bettor is a fan of the sport or the team.
Trading crypto involves buying and selling cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, etc. The main benefit of trading crypto is that it can be profitable and rewarding, especially if the trader has a good knowledge and experience of the market.
These activities offer possibilities for making quick and easy money online, which require lots of luck. They are a way to get rich effortlessly and quickly.
Sounds very enticing, right? Almost too good to be true… Let’s look at the other side of the coin.
Here are some shocking and worrying facts about crypto trading, gambling and sports betting that you might not even know:
The risks and harms of different forms of gambling
- Gambling is highly addictive and harmful. You can develop a psychological dependency on it and become obsessed with checking the prices every minute. You can also experience extreme emotions such as euphoria, anxiety, fear, anger, or depression. You can neglect your other responsibilities and relationships.
- In 2010, Laszlo Hanyecz decided to use Bitcoin to pay for the pizzas he ordered at Papa John’s. At the time, BTC was almost worthless. Therefore, his bill was 10,000 BITCOINS. The fun thing is that if Hanyecz made the same deal ten years after him, he would have paid about $500 MILLION for two pizzas. What you have to understand from the story is that you have to be very responsible and careful when dealing with cryptocurrencies, a slight mistake can cost you hundreds of millions of dollars.
- David Bradford lost £500,000 in 30 years by betting on sports he didn’t even watch. He also stole £53,690 from his employer and re-mortgaged his family home. He was sentenced to two years in prison and faced a mountain of debt.
- Another sports better, Samith A., a 22-year-old sales specialist, lost $18,000 in just a few months. He was also betting on sports he didn’t watch.
- The most serious issue is that gambling does not give you any skills or experience that can benefit you in the long run. You are not learning anything new or useful that can help you grow as a person or a professional. You are not accomplishing anything valuable or meaningful that can improve your life or the lives of others.
We can safely conclude that gambling is a trap that can lure you with the promise of quick and easy money, but it can also destroy your finances and mental health. It is not a smart way to make money online.
What are the alternatives to gambling?
The most reliable alternative is ecommerce. Ecommerce is the activity of buying or selling products or services online. It is a legitimate and sustainable business model that can provide you with steady income and growth potential. It has become a popular way of doing business in the modern world, as it offers many advantages for both buyers and sellers. Some of the benefits of ecommerce are:
- Low financial cost: There’s no need to pay for rent, utilities, staff, or inventory for a physical store. You can start an ecommerce business with a low budget and scale it up as you grow.
- 24/7 selling opportunities: You can sell your products or services anytime, anywhere, to anyone in the world. You don’t have to worry about store hours, holidays, or location barriers. You can also automate your transactions, order fulfillment, and customer service.
- Increased consumer base and ability to scale business: Selling products online allows you to reach millions of potential customers all over the world. You can also expand your product range, target different markets, and test new ideas easily.
- Customer data collection and target marketing capabilities: Ecommers offers you the ability to collect valuable data from your customers, such as their preferences, behavior, feedback, and contact information. You can use this data to personalize your offers, improve your products or services, and create loyal relationships.
- Preferred method of shopping: More and more people prefer to shop online, especially after the COVID-19 pandemic. Ecommerce offers convenience, variety, security, and savings for customers.
- Ecommerce is a goldmine: According to Precedence Research, The global E-commerce market size is projected to hit around $57.22 trillion by 2032 from $14.14 trillion in 2022, expanding at a CAGR of 15% during the forecast period to 2032.
What advantages do these alternatives have over gambling?
- It is based on skill and knowledge, not on chance and luck. You have control over the outcome of your business. You can choose what products or services to sell, how to market them, how to serve your customers, etc.
- It feels rewarding and fulfilling. You can enjoy the process of creating and running your own business. You can also feel proud and satisfied with your achievements and results.
- It’s low-risk and high-reward. You can start with minimal investment and scale up as you go along. You can also leverage the power of the internet and reach a large customer base worldwide.
- You gain experience and skills that can benefit you in the long run. You are learning new and useful things every day that can help you grow as a person and a professional. You are also creating valuable and meaningful products or services that can improve your life and the lives of others.
How to start earning money risk-free today
- Do you want to launch your own ecommerce business today and sell products that people love? If yes, then you need to follow these steps:
- Pick a niche that you are passionate about and that has a high demand in the market.
- Research your target audience and understand their pain points, desires, preferences, etc.
- Find or create products or services that can solve their problems or fulfill their needs.Sellvia offers you a product catalog to choose from thousands of high-quality products that are proven to sell.
- Set up your online store or use an existing platform that suits your needs. You can use Sellvia’s store builder FOR FREE after starting a 14-day trial to create a stunning and professional-looking store in minutes.
- Learn proper business strategies from Sellvia’s Forbes-level experts and incorporate them into your own business plans.
With Sellvia, you can start your ecommerce journey today with ease and confidence. Sellvia is the ultimate ecommerce solution that provides you with everything you need to succeed in the online market. Don’t wait any longer, sign up for Sellvia today and get ready to make money online.