Time to take a bet on gambling stocks?
Best Answer
4085 points
EthanR answered one year ago …
Like many other stocks that were trounced over the past year as Wall Street smelled the recession (that has only recently been admitted to), with a long term horizon some of the gambling stocks could be good bets now. But as Alanj said, it will take time before these stocks go up. However, keep in mind that Wall Street looks ahead, so don't wait for announcements of improvement before you do begin buying these.
One thing you may want to do. Go to www.stockcharts.com Compare the gambling stocks against each other on the Interactive perfcharts, over the last 200, 90, and 30 days to see which ones are the strongest, and only buy those with the best relative strength..
Answers
2082 points
alanj answered one year ago …
If you like to gamble you can. But, I wouldn't. Gambling is basically a recreational activity. And until this economy turns around, people are spending less on everything. Especially gambling, because gambling is not a high priority activity.
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731 points
thinker70 answered one year ago …
So you want to gamble on gambling? Not my cup of tea but contrary to the first answer about it being a "recreational activity" there is also considerble evidence to show that many people who have given up hope of EVER getting to a solid financial position based on their job/career prospects tend to gamble on a regular basis.
While the financial odds of winning are pathetic, tens of thousnds of people are addicted to lottery tickets regardless of the odds of winning, they still DREAM of hitting it big and no doubt this also applies to many who requent casinos.
