Gambling On The Wrong Home Business and How It Can Affect You

Gambling can be defined as risking something of value on the outcome of an uncertain event. Every time we risk something of value with an expectation of getting something of greater value, we are gambling. Although it is in some sense a game but people can bet almost anything. The Great Indian epic of Mahabharata portrays a classic example of gambling, where the King Yudhisthir lost everything including wife Draupadi in a game of gambling. King Henry the VIII, once lost the “Jesus Bells” in Saint Paul’s Cathedral in London on a bet with one of his noblemen. In most of the cases of organized legal gambling, chances of winning is calculated on basis of theories based on mathematical permutation and combination, and one person wins only when a certain number of people looses their money. Casinos or gambling houses prefer the word ‘gaming’ over ‘gambling’ to rub off the negative connotations. However, we don’t want to gamble on a home business. Research is the key.

Gambling comes in different forms with different levels of risk involved with them. It has been with the society since the time of recorded history. It is still popular and the expansion is worldwide. It starts in elementary schools when they bet for the favorite WWF start’s card or a new gadget possessed by some friend. Adolescents play pool or buy lottery tickets. That being said we want to explore how legitimate the business is. Who is the owner? How long has the business been going? What are the financials?

For the most part age, gender, race, religion, political affiliation, socioeconomic class, education and intelligence present no barriers whatsoever to our involvement in gambling, but it does in a home business. Stock market investment can also be considered as gambling. It is not perceived as a ‘play’ but can turn risky with high stakes. One must have information and knowledge of the market before investing in stocks. Especially if we are using our savings or taking out a loan for our business, we don’t want to be foolish.

Problem gambling or compulsive gambling is the urge to gamble despite harmful negative consequences. In extreme cases of Pathological gambling, the gambler experience mental disorders. It is a form of impulse control disorder that is a form of chronic, progressive and gradual mental illness. Doctors have identified few steps that can help in diagnosing pathological gambling like preoccupation, tolerance, withdrawal, escape, chasing, lying, loss of control etc.

This is what separates risk from gambling. Is there risk in starting a home business? You bet! But a calculated risk will usually pay off in the end. When you have researched all that you need to make a good decision, it is time to jump. Successful people make up their mind fast. They don’t wait for the stars to align, they take action.