Financial Betting

NickNick · #1 10-17-2007, 07:41 AM

Does anybody partake in Financial Betting? (Binary betting, etc?)

Is it simply gambling or can it be viewed as being more akin to trading?(market end up/down at end of 5 mins/hour/day).

For me, I think the time matters - if it is for 5 minutes, you are taking a gamble, if it is for end of day, you can do a little more research.

kimchi · #2 10-17-2007, 08:51 AM

I've done spreadbetting which has the same tax treatment as gambling (ie-no tax) in the UK.

It's speculating and not investing. If you buy a stock and treat it as if you were buying a business, then it's more akin to investing.

If you buy something in the hope you can sell it at a higher price (and aren't buying it for dividends) then it's speculation.

As far as I'm concerned, trading is speculation and therefore gambling. As long as you have an edge (like in poker) then gambling can be profitable.