Absolutely right. Gambling is a spectrum of poor -> wealthy.

The wealthy never gamble, down the spectrum toward Poor, always do.

And hypocritically, I DO believe gambling is a tiny but essential part of any “investment portfolio”. Speculative Assets and all that. Just keep it in check.

I learned this from a bond-manager. Something came up about insider trading and he said to the effect “when you’re rich, you never invest WITHOUT inside information, otherwise you’re gambling.”