I think you are right, it is a bit hard to tell what my main point is in this article. That coming from the fact that I am just kind of writing stream of consciousness on these.

But I think the main thing I was trying to establish here is that the difference between “good” and “bad” gambling (from a purely financial perspective) is risk management. My point is that risk management is a universal factor across all types of financial investments, trades, games … etc.

Certainly, you could go the extra step of then deciding which of those financial activities you choose to participate in based on the “non-financial” variables you mention. However, I don’t think it changes the fundamental bottom line of risk management. In other words, participating in something that has great moral or spiritual payoff does not, in my opinion, justify the lack of risk management. I think you have to have risk management at the basis of any investment for it to be legitimate and then from there you can determine if it meets your other objectives.

the second might be whether or not there is a difference between some kinds of gambling w/money and others, and if so where is the line between respectable and deplorable “gambling”, which i think is even more interesting, b/c i have a hunch most of our answers would reflect culture and social status more than they would principle, at least our initial reactions…. (and what kind of gambling is considered “respectable” among our current peers - lotteries and slots vs. online poker, for example…)

but i’m going to go a slightly different direction in saying that you could make a number of cases for these issues from solely the investor’s point of view, and from an objective single bottom line stance (profit).

but does it matter where the money is going, and what it is being used for in some way? are all businesses equal in terms of value and contribution to economy / society / culture? are all investments equally socially responsible? (or “kingdom” responsible, if one is inclined to think about it that way?). if your investment aids a company that uses slave labor at some point in its production chain, is giving your money to support slaveowners as morally reprehensible as money that’s used to provide large amounts of free (albeit cheap-o) liquor to casino patrons in order to free up their spending?

i guess my personal bias would be that investment is stewardship, and it seems wise stewards should have multiple bottom lines for the investment of their resources that look at returns from broader perspectives than just financial, economic as well as social, cultural, and even biblical(?).

so, in that sense, i guess i’d say not all “gambling” is created equal, but the reasons i think it’s not (and the scale i’d likely create to categorize wise vs. unwise investing) may not be devised solely from financial data.