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Gambling & Investing in the Stock Market Last Sunday morning, I presented a lesson on the topic of gambling. With all of the casinos just across the Oklahoma border, I thought the requested topic was a very pertinent one. In the lesson, I explained that gambling violates the wholesome principle of the Golden Rule – “So whatever you wish that others would do to you, do also to them, for this is the Law and the Prophets” (Matthew 7:12). In order for one to “win” at gambling, others must lose. And lose they do. This is how casinos continue to operate and make their profits. I also pointed out that gambling violates the principles established in the scriptures regarding good stewardship. To consider this point, one would certainly do well in studying the Parable of the Talents (Matthew 25:14-30), the Parable of the Pounds (Luke 19:12-27) and the Parable of the Unjust Steward (Luke 16:1-8). While gambling places hopes in getting something for nothing, the scriptures place great value in the concepts of good, honest, hard work.Here is a question that is often times asked in regards to the topic of gambling: “Is investing in the stock market a form of gambling?” First, let me give you my short answer and then I’ll explain. My short answer – No, investing in the stock market is not a form of gambling. In some instances, we use the terms “gamble” and “risk” rather interchangeably. If something is a “risk,” we might call it a “gamble” and vice-versa. Yet, there are many things that we do that involve risk and, therefore, in that sense of the word are a gamble. Each time we get in our cars and drive, we are taking a certain amount of a risk (gamble) for we all know that accidents do indeed happen. Yet, I don’t think any of us would say that driving is wrong (as long as we do so within the confines of the law). Unfortunately, over the past couple of years many individuals/families discovered that buying a house can be a risk/gamble. When the “housing bubble” burst many found that the outstanding balance on their loan exceeded the market value of the house. In some cases, the discrepancy was quite considerable. Yes, in many cases, lenders and buyers were very foolish. Such would violate the Biblical principles of good stewardship. Yet, that certainly can’t be said of all the instances in which a buyer ended up owing more than the house was worth. Would we label the lenders and buyers in those instances as “wrong?” Certainly not. One more example – When a person begins his own business, is he/she taking a risk/gamble? Absolutely. Yet, don’t we admire and respect the person who has started a business, invested in it, worked hard and been successful? We should (as long as the nature of the business and the practices of the owner don’t violate the scriptures). Therefore, we can see that the presence of “risk” (a “gamble”) is not by necessity an indication of wrong. So, is there risk involved with investing in the stock market? Sure. And in that sense we might say that it is indeed a “gamble.” Yet, there is a definite difference between gambling (i.e. casinos, lottery, horse racing, sports wagers, etc.) and investing in the stock market. When one gambles, he/she is simply participating in a game of chance – a game of chance with which the odds are stacked against you. This is what is called a zero-sum game. The total wealth of participants remains the same. Money is simply moved from one person to another. The total value hasn’t changed, it has simply been reallocated – mostly to the gambling establishment, i.e. casino, lottery fund, horse track, etc. Yet, when one invests in the stock market, he/she is making an actual purchase. When one purchases stock, he/she is gaining ownership in a company (however small that percentage may be). Those investments are intended to contribute to the ongoing operations, productivity and profitability of those businesses. Therefore, the investment can be utilized in such a way to create a net gain in value - a gain that benefits the company, its employees, its customers and yes, its investors. Is there risk involved? Yes. Can an investment decrease in value? Sure. Yet, again, the presence of “risk” (a “gamble”) is not by necessity an indication of wrong. Like many other things, if not handled in a prudent, responsible manner, investing in the stock market can be done in a manner which could be described as “wrong.” It must be done carefully and responsibly with the principles of scripture intact. ~~~ Roy Rogers once wrote: “You know horses are smarter than people. You never heard of a horse going broke betting on people.” |