Let's analyze the different types of gambling games. In this article, we will consider all references to gambling as speculation, unless otherwise specified.

At the casino:

card games. Unless you're like "Rain Man" or have the ability to count cards, this is pure gambling; everything is based on the luck of the card draw. (High risk).

Roulette:

"All on black" is a well-known expression that refers to betting on specific numbers or on red or black. There is no real system; it depends entirely on chance whether it will be red, black, or a number. Different probabilities are available for specific numbers. This is pure speculation. (High risk).

 Horse racing:

It is a form of speculation, but it has a difference from the above, which are games of chance. The difference is that it can be the same type of speculation as Forex trading.

Forex trading (foreign exchange market):

Speculation on currencies whether they should rise or fall. The difference would be the profit made. Forex currencies are grouped into pairs called currency pairs (USD/EUR) for example.

Short-term trading (day trading):

According to some financial experts, short-term trading is more similar to gambling than to investing. While investing focuses on long-term gains in the stock market, short-term trading focuses on intraday profits generated by rapid price fluctuations.

TAXES:

This is a separate topic, but it is important to note that most winnings, including those from slot machines, are not tax-free. Although it is rarely collected. Different countries have different rules; always keep in mind your tax obligations before engaging in real-time speculation. Certain tax advantages, including capital gains tax, are possible with CFDs. Always exercise caution. Gambling is prohibited in some countries, such as Thailand. On the other hand, Forex trading is allowed. The national lottery is the only other legal form of gambling. This does not mean that it does not happen behind closed doors. While online speculation is also prohibited in various states.

What is the role of education in speculation (gambling)?

What does education mean in this case? It is not about academic achievements or how well you did in school. It is a matter of preparing yourself for the different types of speculation. This aspect is crucial for gaining an advantage. Even though a solid academic education can help you focus on your chosen investment career.

Educational Requirements

Casino: Anyone, with little or no training, can play casino games.

Horse Racing: Again, formal training is not required, but it would be helpful to apply yourself to studying form and other aspects of the discipline.

Forex Trading: You do not need to have a professional qualification, but if you are serious about Forex trading, it would be beneficial to have good academic skills to dedicate yourself to the years of research that may follow.

Technical Analysis and Fundamental Analysis: How do these two types of analysis relate to gambling or trading? (They do not directly). However, by educating yourself about technical and fundamental analysis, you will eliminate a significant risk factor.

Summary: What is the difference between Forex trading and gambling? There will always be people who argue that Forex trading is a form of gambling and others who argue the opposite. We hope that the previous article has clarified some of the common opinions. However, it is difficult to address this question without considering the competing arguments.