{"id":9324,"date":"2020-11-02T09:17:01","date_gmt":"2020-11-02T14:17:01","guid":{"rendered":"https:\/\/palam.ca\/?p=9324"},"modified":"2020-11-02T09:25:12","modified_gmt":"2020-11-02T14:25:12","slug":"similarities-between-professional-gambling-and-financial-sector","status":"publish","type":"post","link":"https:\/\/palam.ca\/en\/similarities-between-professional-gambling-and-financial-sector\/","title":{"rendered":"The Similarities Between Professional Gambling and the Financial Sector"},"content":{"rendered":"<div class=\"post-title\">\n<h1><strong>The Similarities Between Professional Gambling and the Financial Sector<\/strong><\/h1>\n<p><strong><span lang=\"EN-US\" style=\"font-weight: normal;\">Gambling is present in many aspects of our lives, whether we like to admit it or not. Finance is a sector where gambling is prominent, as the outcome of any business or investment can&#8217;t be accurately predicted. In his 1906 satire called <\/span><\/strong><span lang=\"EN-US\"><strong><a href=\"https:\/\/www.gutenberg.org\/files\/972\/972-h\/972-h.htm\">The Devil&#8217;s Dictionary<\/a><span style=\"font-weight: normal;\"><strong>,<\/strong> poet and journalist Ambrose Bierce states that&#8221; the gambling we call business looks with severe disfavor on the business know as gambling.&#8221; <\/span><\/strong><\/span><\/p>\n<p><strong><span lang=\"EN-US\" style=\"font-weight: normal;\">The paradox in Bierce&#8217;s book is true to some extent. Think about the casino banking that caused the 2008 financial crisis over ten years ago. The problem with the financial services market is that it isn&#8217;t regulated and misunderstood by the average client. Suppose we were to understand it as well as the gambling industry. In that case, we might have been able to avoid <a href=\"https:\/\/palam.ca\/en\/category\/cash-en\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>financial<\/strong> <\/a>collapse.<\/span><\/strong><\/p>\n<p><script async=\"\" src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><\/p>\n<p><script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/p>\n<h2>The Pretence of Knowledge<\/h2>\n<\/div>\n<p>Nobel Prize winner and economist Frederik von Hayken refers to this as &#8220;the pretence of knowledge&#8217;. His theory states that the origin of all scams, scandals, and financial bubbles is the so-called financial sector professionalism. Besides, von Hayken considers the attempt of humanity to make economics a science in the real sense of the world is completely useless.<\/p>\n<p>Like other professions, the financial industry uses the pretence of knowledge to distract the customers from realizing that it&#8217;s just an arm of the gambling industry. Just replace the economics jargon with betting-related words, and it all becomes clear \u2013 most activities in the financial sectors are actually bets.<\/p>\n<p>However, the finance industry has invested a lot of time and money into dissociating itself from the gambling industry. Aaron Brown, an expert economist, explains this concept in his book called &#8220;The Poker Face of Wall Street,&#8221; where he states that gambling is the root of economic ideas and institutions, despite the denial from most people that are part of the financial sector.<\/p>\n<p>The skill sets required in the financial and gambling industry are nearly identical. A professional trader has a ruthless approach regarding risk-taking, quick reaction time under pressure, and strong memory. Similarly, top tier poker players differentiate from amateurs through these exact skills.<\/p>\n<p>Some finance corporations have implemented poker nights, and the casino game is part of their office culture. These companies consider that skills like being a good bluffer, predicting your opponent&#8217;s next move, and knowing how to manage your bankroll are quintessential for becoming a successful investor.<\/p>\n<p>&nbsp;<\/p>\n<div class=\"post-title\">\n<p style=\"text-align: center;\"><script async=\"\" src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><\/p>\n<p><script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/p>\n<h2><span lang=\"EN-US\">Gambling Business Concepts and the Financial Industry<\/span><\/h2>\n<\/div>\n<p>Nobel Laureate Robert Shiller recently researched the two vital elements of gambling \u2013 bluffing and bullying. In his book &#8220;<strong><a href=\"https:\/\/www.independent.org\/publications\/tir\/article.asp?id=1149\">Phishing for Phools<\/a><\/strong>,&#8221; Shiller challenges efficient market theorists that support the fact that you won&#8217;t beat the market, arguing that if you can make a profit, sellers will always try to systematically influence us and exploit our weaknesses through deception and manipulation tactics.<\/p>\n<p>Shiller argues that five main psychological factors influence our behavior regarding investments. One of the critical factors is confidence in the economy, which is essential for raising the billions of dollars that fuel our industries. Still, it can also be used to deceive amateur investors. Just like betting advisors, stockbrokers gain the trust of the consumer by offering them confidence.<\/p>\n<div class=\"post-title\">\n<p><script async=\"\" src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- PALAM_MIX_HAURIZONTAL LARGE --><br \/>\n<ins class=\"adsbygoogle\" style=\"display: block;\" data-ad-client=\"ca-pub-5440141123165360\" data-ad-slot=\"4501134335\" data-ad-format=\"link\" data-full-width-responsive=\"true\"><\/ins><br \/>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/p>\n<\/div>\n<h2>Financial Advisors vs. Betting Tipsters<\/h2>\n<p>Perhaps one of the most common associations between the world of finance and gambling is related to advisors and tipsters. Both sports betting tipsters and financial advisors convince people to give their money to complete strangers, purely based on confidence. We tend to trust these advisors because they have acquired prestige and wealth by &#8220;owning&#8221; the field&#8217;s expertise and then selling it for profit. Thus, a regular consumer will trust the expertise of professionals and ask no additional question.<\/p>\n<p>According to Professor of Economics Paul Seabright, after factoring in the pretense of knowledge and everything you learned so far, you will start to understand that advisors are nothing but tipsters that want your money so they can place the bet for you, charging you an additional management fee which is usually represented by a percentage of the profit you make. On the other hand, if you lose the bet, it will be your fault, and you won&#8217;t recover your losses.<\/p>\n<h2>The Bottom Line<\/h2>\n<p>Hopefully, by now, you have a strong understanding of the concept of gambling in the financial sector and what to avoid when you&#8217;re looking for new investment opportunities. It&#8217;s always important to check if the source where you&#8217;re gathering information is legit and the recommendations haven&#8217;t been altered to influence your final decision. After browsing around the web, we came across a<strong> <a href=\"https:\/\/casinobonusca.com\/fr\/\">reputable gaming site for French players<\/a><\/strong>, which curated the greatest casino deals. Check it out!<\/p>\n<p><strong>The Similarities Between Professional Gambling and the Financial Sector<\/strong><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<h3 style=\"text-align: center;\"><strong>Learn more about <a href=\"https:\/\/palam.ca\/category\/streaming\/\" target=\"_blank\" rel=\"noopener noreferrer\">Streaming Movies and Series<\/a>:<\/strong><\/h3>\n<div class=\"single-share\">\n<div class=\"video-wrap\">\n<div class=\"video-container\">\n<div class=\"single-share-socials mt-radius-b\" ><a target=\"_blank\"  href=\"http:\/\/www.facebook.com\/sharer.php?u=https:\/\/palam.ca\/en\/similarities-between-professional-gambling-and-financial-sector\/\" ><\/p>\n<div class=\"facebook mt-radius-b\"><\/div>\n<p><\/a><a target=\"_blank\"  href=\"http:\/\/twitter.com\/home\/?status=The+Similarities+Between+Professional+Gambling+and+the+Financial+Sector+https:\/\/palam.ca\/en\/similarities-between-professional-gambling-and-financial-sector\/\" ><\/p>\n<div class=\"twiiter mt-radius-b\"><\/div>\n<p><\/a><a target=\"_blank\"  href=\"https:\/\/plus.google.com\/share?url=https:\/\/palam.ca\/en\/similarities-between-professional-gambling-and-financial-sector\/\" ><\/p>\n<div class=\"google mt-radius-b\"><\/div>\n<p><\/a><a target=\"_blank\"  href=\"http:\/\/pinterest.com\/pin\/create\/button\/?url=https:\/\/palam.ca\/en\/similarities-between-professional-gambling-and-financial-sector\/&#038;media=https:\/\/palam.ca\/wp-content\/uploads\/2020\/11\/The-Similarities-Between-Professional-Gambling-and-the-Financial-Sector.jpg\" ><\/p>\n<div class=\"pinterest mt-radius-b\"><\/div>\n<p><\/a><\/div>\n<blockquote class=\"wp-embedded-content\" data-secret=\"wzGmYKUAxB\"><p><a href=\"https:\/\/palam.ca\/en\/top-10-best-french-streaming-sites-free-3\/\">Top 10 Best French Streaming Sites Free<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"\u00ab\u00a0Top 10 Best French Streaming Sites Free\u00a0\u00bb &#8212; Palam\" src=\"https:\/\/palam.ca\/en\/top-10-best-french-streaming-sites-free-3\/embed\/#?secret=wzGmYKUAxB\" data-secret=\"wzGmYKUAxB\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/div>\n<\/div>\n<\/div>\n<hr \/>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\">The Similarities Between Professional Gambling and the Financial Sector<br \/>\n<strong>Did you like this article ? Share and comment!<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Similarities Between Professional Gambling and the Financial Sector Gambling is present in many aspects of our lives, whether we like to admit it or not. Finance is a sector where gambling is prominent, as the outcome of any business or investment can&#8217;t be accurately predicted. In his 1906 satire called The Devil&#8217;s Dictionary, poet [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":9326,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[309,7137,310,48,54],"tags":[312,10320,14435,5952,11798,14437,14439,318,14434,13697,14438,620],"class_list":["post-9324","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-concours-en","category-cash-en","category-jeux-en","category-news","category-techno-en","tag-casino-en","tag-chance-en","tag-coronavirus-pandemic","tag-covid-19-en","tag-finance-en","tag-fun-en","tag-gambling-business-concepts","tag-game","tag-gaming-industry","tag-online","tag-professional","tag-streaming-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The Similarities Between Professional Gambling and the Financial Sector<\/title>\n<meta name=\"description\" content=\"The Similarities Between Professional Gambling and the Financial Sector. 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