is gambling a business

Gamblers too remain more than busy with their business and it's indeed, a business.Even Income Tax Department collects tax on their incomes!!

Yes, it is indeed a business and as said by Chinmoy it has tax too..illegal gambling is offence..

The funniest thing about Income Tax Department is that it won't look at the color of the money to tax it- be it legal or illegal!!

No doubt about it ,Sumit.Gambling is a business. :( :( :(

Sometimes I feel business itself is a gambling!!!

:) :) :)

That's true to some extent!A busines becomes a gamble when it run on speculative lines!

Business consists of manufacturing, buying, selling, providing service or other connected activities with the object of satisfying consumer needs. Thus manufacturing, trading and providing service are the main business activities.
Gambling is nothing but a game of chance whereby some lose and others gain. This is not business. However, the providing of facility for gambling in return for remuneration is business. Hence running of casino is business.

Business is also very much subject to chance elements - there are controllable and uncontrollable variables! A businessman committing crores of funds to a particular line of business which is fraught with uncertainties - on expectation of certainties in some areas which may turn out to be nothing but gambles!

gambling is a business when it is well organized like in casino.

I personally feel there is an element of gamble in every business.How does one look at the prospecting carried out by oil companies to find oil?This operation runs into milions of dollars and at the end of it if they fail to find it- millions of dollars gone! On the other hand if they succeed they strike virtual goldmine!Profit is the reward of risk-taking!This risk has an element of gamble!

Not only gambling but all things which has the main motto of making money is termed as business.It should be well equipped to take risks as business may comprise of both profit and loss.

As I have explained in my earlier posts that the entire environment under which a business operates is uncertain.I agree that there scientific studies to minimize risks yet risks still remain!

You are right,Chinmoy. The business is a package of risks and uncertainties.

No Gambling cannot be takes as a business in business sense.

What is that business sense,Abid! You take out the element of risk,it ceases to be a business.It may be a calculated risk but a risk all the same!!

chinmoymukherjee wrote:
[quote]Business is also very much subject to chance elements - there are controllable and uncontrollable variables! A businessman committing crores of funds to a particular line of business which is fraught with uncertainties - on expectation of certainties in some areas which may turn out to be nothing but gambles![/quote]

Business and other activities all have element of uncertainty. Business consists of providing commodities or services for some remuneration or price. But gambling is not providing anything. This is a game of chance among certain individuals. The gamblers neither lose nor gain anything collectively. Simply, the winners lose to the losers and overall position remains the same. However, the casino runner provides service to the gamblers for some remuneration. Casino running is undoubtedly business.

chinmoymukherjee wrote:
[quote]What is that business sense,Abid! You take out the element of risk,it ceases to be a business.It may be a calculated risk but a risk all the same!![/quote]

I don't mean what you told.I mean when one says my profession is business this will not come under that.

@Abid

It's okay! I get your point.

@Gulshan

Thanks for shating your perception on this but I still stand by whatever views I expressed in my post!