Originally Posted by
Alan Mendelson
This is certainly true if you run a business and continue to run a business so it loses money. I just had this discussion with a friend of mine who is losing money on a start up and asked for advice and some financial support.
In the course of our discussion I asked: is this a real business or a hobby? (hobby = recreation)
In the case of the start-up that was a money-loser, it was supposed to be a money making business and investors were supposed to be paid back. I advised that after three years I couldn't support the project anymore either with my time or advice (I had invested $2500 in the start-up.)
But what casino gaming? If it is a business for you and you derive most or all of your income from it, and you spend time in casinos that otherwise could have been spent at a real job, then it is dumb to lose money.
But if it's a hobby (recreation) is it really that bad to lose money? Frankly, losing money is not as much fun as winning money, but I question the statement that it's dumb.
I lose money going to the movies, renting a tennis court, and playing golf. Is that dumb?