Altcoins Talks - Cryptocurrency Forum
Wider Crypto World => Gambling & Crypto Casinos => Gambling discussion => Topic started by: shanz on August 19, 2024, 03:20:00 PM
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When we research online, we often find that gambling winnings are considered passive income because they rely on luck and don’t require continuous effort. However, I don’t consider gambling, especially sports betting, to be passive income. You know, professional gamblers put in significant work to analyze matches—they read news, collect data, create strategies, engage in discussions, and some even use AI to compare results...Well it's a whole process ;)
While luck is a factor (of course), the substantial effort and skill involved make sports betting distinct from typical passive income. Therefore, I believe that sports betting winnings should be classified as active income, similar to trading or commerce, which involve both risks and the potential for profit or loss, like in any business.
This is only my point of you... What do you think?
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Therefore, I believe that sports betting winnings should be classified as active income, similar to trading or commerce, which involve both risks and the potential for profit or loss, like in any business.
Can you not see the bookies making money daily while most people that are betting are not making money than they are losing money. Do not see gambling as a means to earn passive or active income. Although, it is not passive but active. What is similar to passive income is holding.
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When we research online, we often find that gambling winnings are considered passive income because they rely on luck and don’t require continuous effort. However, I don’t consider gambling, especially sports betting, to be passive income. You know, professional gamblers put in significant work to analyze matches—they read news, collect data, create strategies, engage in discussions, and some even use AI to compare results...Well it's a whole process ;)
While luck is a factor (of course), the substantial effort and skill involved make sports betting distinct from typical passive income. Therefore, I believe that sports betting winnings should be classified as active income, similar to trading or commerce, which involve both risks and the potential for profit or loss, like in any business.
This is only my point of you... What do you think?
It seems to me that this is active income. Passive income is where you don't need to do anything at all, you can just sit and watch the deposit. And in sports betting you need to constantly make these same bets, which excludes this activity from the category of passive income. Passive income is most likely an investment.
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For me, I think sports betting winnings are active income because it requires effort to win you need to research the team, player, and the odds of the game and decide where to lay your bets after researching. It's not the same as passive income, which comes from things like investments or rental properties and requires little continuous work on your part.
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To me it doesn't comes under the income category at all and even if you made considerable amount then consider it as a gift or treasure that may not be found again that's why we don't have to confuse the gambling with investment, profits and money making.
Professional poker players are there but people who analyse sports all are not really professional they just do it because they like the game a lot and when the greed kicks in they chose to take risks that's it.
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Neither, how can be sports betting be considered a active income when you have to shell out some money to bet? Active income means that you rendered service, just like a regular job and then you get your money, as in this case salary. And so you have to generate some effort in exchange of money.
But in sports betting, yeah there is effort on your side because you analyze the game that you are going to bet. But still, you need some money too in order to bet and so that breaks the very definition of active income.
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You need to be a casino owner to be able to consider gambling as active and passive income for you. I am not a seasoned gambler but I often bet when the sports match is hyped even on mainstream media.
Boxing can be a good option for me but its never a source. There are no high profile fights every week in his sports. Football I think is possible if you just follow all the league.
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You know, professional gamblers put in significant work to analyze matches—they read news, collect data, create strategies, engage in discussions, and some even use AI to compare results...Well it's a whole process ;)
Would you believe that Real Madrid with all the squad will draw against Mallorca? Are you aware that Drake just lost $450k? If you like spend all your time researching on games, you may not still win because research will not show you a player that will be injured in course of play, research will not show you a player that will be given red card, research will not tell you if the officials will be bias, research will not tell you if the team will be on their best on the match day. These are some of the factors that makes prediction difficult and that is why it is often said that gambling is a game of luck.
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It is %100 active, there is no logic that would consider this passive at all. We are talking about actively betting, you can't just bet once and leave it be, you have to keep on betting which means that its an active income. While I also think that its a long term loss, meaning that if you keep on betting forever, eventually you will be at a loss, it could be from the first bet, it could be your thousandth bet, but eventually you will be at a loss without a doubt. This is why I honestly suggest you to avoid such a thing, its not going to give you a good return, so do not do this for income, do it because its fun.
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Passive income is like an overrated term and used loosely by sellers of financial products ;D Those who call the profits earned from gambling as passive income are probably as confused as those promoters.
You need to be a casino owner to be able to consider gambling as active and passive income for you.
But owners usually have a direct hand in the activities of the business. Maybe if it's a silent partner that don't have active involvement or participation in decision making and operations.
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you just can't constantly win your bets on sports. there may be times you win but it could be taken back to you the next day besides you need to wager a huge amount to support yourself and sustain in the long run. sports betting is not a source of income, you will eventually lose.
but there are casinos that releases tokens and that you can invest to it and stake which you can constantly earn a passive income depending on how much you invest. and it also depend on which casino this would be. there are few that seem to be legit.
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When we research online, we often find that gambling winnings are considered passive income because they rely on luck and don’t require continuous effort. However, I don’t consider gambling, especially sports betting, to be passive income. You know, professional gamblers put in significant work to analyze matches—they read news, collect data, create strategies, engage in discussions, and some even use AI to compare results...Well it's a whole process ;)
While luck is a factor (of course), the substantial effort and skill involved make sports betting distinct from typical passive income. Therefore, I believe that sports betting winnings should be classified as active income, similar to trading or commerce, which involve both risks and the potential for profit or loss, like in any business.
This is only my point of you... What do you think?
We generally mean passive income where we can get approximately certain amount of money regularly by investing. But there is no such opportunity in betting which is why I must say that it is not a passive income. Although gambling has passive gambling term but I would support gambling income as active.
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I wouldn't put it in any of those classifications, because basically making a sports bet means that you are taking a high, medium or low risk, depending on the amount you bet, but basically when we should not classify it as something like that, but when we place ourselves to have any type of classification here, well it is not advisable, because passive income is when it is generated even when we are sleeping, and I don't see it that way, it is very risky and the truth is I would classify it as money only for casinos and sports betting.
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While luck is a factor (of course), the substantial effort and skill involved make sports betting distinct from typical passive income. Therefore, I believe that sports betting winnings should be classified as active income, similar to trading or commerce, which involve both risks and the potential for profit or loss, like in any business.
This is only my point of you... What do you think?
A quick google search of the definition of passive income and here's what will come out: LINK (https://www.investopedia.com/terms/p/passiveincome.asp)
Passive income refers to money earned from sources other than a traditional job, requiring little time or effort
Sports bets are considered minimal effort unless you're doing in-depth analysis on every game that's happening which I don't think mostly are doing. Do I consider it a passive income since it only requires us little time or effort in order to win? If I will base on the definition of Investopedia, it might be, but this is the riskiest passive income source that I've seen because your chances of winning on a sports bet depends on how knowledgeable you are, and of course a little bit of luck.
Excluding the definition that I shared, I will not include it as either passive or active income because of the risk that it has.
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What do you think?
I consider sports betting, in particular, passive income for a lot of reasons.
- Analyzing sports games requires effort, but not so much effort when you compare it with other things like trading. You have to really put in work and effort into trading to see results.
- Sports betting does not require so much of your time.
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What do you think?
I consider sports betting, in particular, passive income for a lot of reasons.
- Analyzing sports games requires effort, but not so much effort when you compare it with other things like trading. You have to really put in work and effort into trading to see results.
- Sports betting does not require so much of your time.
this is when you are already into such sport before you got into gambling. some users in crypto actually try to learn to gamble for the reason that they can make better posts in forums. it would take a lot of time for them to learn the sport and the politics in sports.
when the politics in sports intervene matches and bouts, its going to be a lot harder than learning to analyze what both teams and fighters got. its no passive income when you win one match and lose 3 match the next day.
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I think of it more of a bonus income rather than a passive income but it really depends on us on how we understand things because we do have different opinions on this. Though some gamblers I knew thinks that gambling winnings could be a passive income for some reason but yeah maybe it really is.
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Look at my POV, a person who watches sports regularly, keeps up to date with it's all happenings, and makes bets according to his knowledge, and he is overall successful with his bets — to his own mind he does not feel like it's a work, his so called 'home work' as many would call it, just comes from the fact that he's passionate about sports and what he earns from betting is an extra income (i.e, passive).
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Look at my POV, a person who watches sports regularly, keeps up to date with it's all happenings, and makes bets according to his knowledge, and he is overall successful with his bets — to his own mind he does not feel like it's a work, his so called 'home work' as many would call it, just comes from the fact that he's passionate about sports and what he earns from betting is an extra income (i.e, passive).
It will take a lot of experience to make it with knowledge and update to whats happening in sports. The ones who have some levelnof success are the ones who religiously follow and factors the politics in sports.
The ones who are lucky are the ones betting on odds that is close to winning which only an upset by means of a fluke. I think anyone can do this, betting $10 to win $0.20 seem not worth your time but done it constantly I guess youre going to win.
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I never use income when it comes to anything gambling because income is not guaranteed. When you say income, you expect profit from what you're doing, something you cannot apply on sports betting, which is considered gambling, its more of a risky venture where the outcome is considered a reward if you win a bet, but its not something you'll expect.
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In my opinion, winnings from betting may not be fully categorized under passive income because as what OP said gamblers are actually doing many things to make sure their odds can be higher than usual and although luck may come in and do the work we know that Lady Luck do not smile to all, otherwise this would not anymore be gambling but a charity. Therefore, I do find bet winnings to be 50% active income and 50% passive income. I am not actually a gambler since I realized back then when i was just young that luck was not always on my side so risking money can be a big foolishness plus it would depressed me for days if I lose, therefore not good for my mental health.
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If a gambler wins every bet or makes a profit every week then he is potentially banned, that's the reason why I don't believe that gambling can be called passive income unless they are owners and investors which might make sense but if we talk about players it is not impossible.
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If a gambler wins every bet or makes a profit every week then he is potentially banned, that's the reason why I don't believe that gambling can be called passive income unless they are owners and investors which might make sense but if we talk about players it is not impossible.
It is preferable to live in reality rather than trying to imagine an outcome. In reality, it is not possible to win all of the time, and getting a ban from the bookies because you are constantly winning is also nearly impossible. It is not possible for the gambler to turn gambling into an active source of income. This is not a matter of proclamation because some gamblers will claim to be professionals with a high winning rate, but when you look closer, you may be surprised to find that most of these professionals do not profit over time.
For example, if I bet $1000 with an odd of 1.20 and win three times in a row, I would theoretically win $1700 and then imagine losing the next bet. That means I will lose $1,000 and end up with $700. This implies that profit is typically determined by the amount won rather than the number of wins.
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When we research online, we often find that gambling winnings are considered passive income because they rely on luck and don’t require continuous effort. However, I don’t consider gambling, especially sports betting, to be passive income. You know, professional gamblers put in significant work to analyze matches—they read news, collect data, create strategies, engage in discussions, and some even use AI to compare results...Well it's a whole process ;)
While luck is a factor (of course), the substantial effort and skill involved make sports betting distinct from typical passive income. Therefore, I believe that sports betting winnings should be classified as active income, similar to trading or commerce, which involve both risks and the potential for profit or loss, like in any business.
This is only my point of you... What do you think?
I would consider sports bets winning to be passive incomes because first of all it's something that has a lot of uncertainties, no matter how good your predictions are you know that anything can still happen, you can either win or lose. Winnings from gambling generally are passive incomes and my reason for saying this is , even if you talk about sitting down to study and analyze games how long does it take compared to a full time job?? how many times in a week do you engage in this ?? You put in minimal efforts when you earn from sports betting than the efforts you put into your career or full time job, therefore it's a passive income
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To some winnings from sports betting is a passive income. But to majority of gamblers it's their main source of income.
I have seen people quit their stressful and poor paying jobs to concentrate on gambling. For some their job is to predict and sell their predictions to gamblers.
But I personally think gamble should be a side hustle and not the main hustle
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~ For some their job is to predict and sell their predictions to gamblers.
I wonder how many games one has to predict correctly before he could increase his reputation and get regular clients. It's no different to anyone selling their expertise in other fields but this has to be a riskier job because of the type of people he'll have to deal with. Anyway, income from selling predictions would still be considered as active income.
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When we research online, we often find that gambling winnings are considered passive income because they rely on luck and don’t require continuous effort. However, I don’t consider gambling, especially sports betting, to be passive income. You know, professional gamblers put in significant work to analyze matches—they read news, collect data, create strategies, engage in discussions, and some even use AI to compare results...Well it's a whole process ;)
While luck is a factor (of course), the substantial effort and skill involved make sports betting distinct from typical passive income. Therefore, I believe that sports betting winnings should be classified as active income, similar to trading or commerce, which involve both risks and the potential for profit or loss, like in any business.
This is only my point of you... What do you think?
You can't classify income from sports betting winning as active income because it's not every time that one wins one of the characteristics of gambling is uncertainty it's very hard for someone to come across winning in gambling infact some times even a month one has not recorded a single win in gambling so I will classify winning in gambling as passive because there is high level of uncertainty in gambling because the risk associated with gambling is high so if one gets lucky and wins a ticket then it should be seen more like a passive income
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In my opinion, sports betting wins are more passive, where you won't win every time you bet, because as you said, winning in sports betting is really luck, unless the match has been arranged, who wins and who loses, it will be easy to guess if the match has been arranged by the bookie.
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In my opinion, sports betting wins are more passive, where you won't win every time you bet, because as you said, winning in sports betting is really luck, unless the match has been arranged, who wins and who loses, it will be easy to guess if the match has been arranged by the bookie.
bookies don't fix matches but they identify crowd's favorite team which is likely to win. most of the time people will bet on that team as well. there re just sports that are somehow hard to spot which team or athlete will win. boxing or MMA seem an easy for those fans, i tried to be a fan for awhile since i have followed the development of this sport but i just can't win big in a large parlay list.
sports betting can't be source of passive income. soccer fans who have been following the sports since they were kids still lose in their bets.
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In my opinion, sports betting wins are more passive, where you won't win every time you bet, because as you said, winning in sports betting is really luck, unless the match has been arranged, who wins and who loses, it will be easy to guess if the match has been arranged by the bookie.
bookies don't fix matches but they identify crowd's favorite team which is likely to win. most of the time people will bet on that team as well. there re just sports that are somehow hard to spot which team or athlete will win. boxing or MMA seem an easy for those fans, i tried to be a fan for awhile since i have followed the development of this sport but i just can't win big in a large parlay list.
sports betting can't be source of passive income. soccer fans who have been following the sports since they were kids still lose in their bets.
It's called gambling, we don't know for sure when we will win, everything is out of control, it only depends on luck, if you want to get an active and regular income, working is the best choice and stay away from gambling, because gambling is basically just for fun, not for a livelihood,
right?
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To some winnings from sports betting is a passive income.
Winnings from an actual activity can't ever be a passive income! End of story!
Too many people are making a mess of labeling side hustles as passive income when it goes straight against the definition, you need to be passive, so not take any action for such an income, you place your money in stocks and wait without doing a thing, you rent a house you buy gold and wait.
If you treat gambling as passive income then trading is also passive income, then going to work is passive income too.
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If you win, its active income for me because you put money on it, but its not a guaranteed income. I cannot call it a passive income because there is work associated with it; you have to analyze it and put efforts on your bets. For something to be called passive income, there should be less or no effort, and its guaranteed.