On Gambling

Ben:

Wagering on thoroughbred horse racing is something I enjoy very much, although I am well aware of the potential dangers of excessive gambling. I appreciate it most because unlike other forms of gambling, horse race handicapping involves a high level of skill and intellect. From the time I first went to Penn National Racecourse at the age of 6 to my current summer trips to Monmouth Park on the Jersey Shore, I’ve always enjoyed horse racing….win or lose. The ability to decipher what sets one horse apart from 8 others is not something that happens overnight; rather, you must spend hours preparing for a trip to the racetrack to ensure a reasonable chance of success. That being said, my grandmother was addicted to slot machines (an activity that seems to require very little skill), and was successful at it. I had nothing but respect for my grandmother and she was one of the greatest influences in getting me interested in horse racing, but I would never dream of spending hours at slot machines pissing money away. However, I think people should be free to spend their money in whatever way they choose. In fact, I hope people continue to pound money into slot machines, being that the profits from many casinos help fund horse racing at adjacent racetracks.

Bilz:

People probably expect me to quote some Bible verse as evidence that gambling is a sin, but then we should need to discuss the philosophical foundations and implications of sin—too long for this post. Instead, let us consider the intellectual merits of gambling. In short, if you’re like me, gambling is stupid, really stupid. It seems whenever I bet, the Olympian Pantheon immediately conspires against me; consequently, I do not gamble. I suppose if one is good, gambling is then profitable, in which case one is being a good steward with his money, but most people are not good, and people lose more often than they win (which is why the House stays in business), so I would say that in general, it is unwise for a given person to gamble…unless, of course, you are betting against me, in which case it is very wise for YOU to gamble!