This blog originally appeared in Counsellor Sam and has been republished with permission.

Online gambling increased under the uncertainty and boredom of COVID-19 restrictions. As restrictions ease however, the temptation to gamble online will not necessarily ease alongside them. Sports codes are back in play across the country as well as the other gambling options offered during the lockdown, but our financial, social and emotional anxieties remain. Alongside the potentially thrilling distraction of online gambling comes great risk.

1. Online gambling is not a fair game in many ways.

A rush among states to get sports gambling into casinos, race tracks, and other venues following a May 14 U.S. Supreme Court decision means banks are going to have to be extra vigilant about potential money laundering risks as new waves of cash roll in.

Dodgy operators whose sites may look and feel legitimate operate online. They’re usually based overseas, outside the jurisdiction of Australian laws and consumer protections. Although at least 52 of these sites have been blocked under new laws since November 2019, many new sites continue to appear and are especially targeted to Australians.

• Is is really worth the gamble? There are great financial risks involved when purchasing raw land. Raw land has great potential to appreciate in value, but there is no depreciation for income tax purposes and there are sure to be long periods of ownership where no income is generated.
• Life is all about a calculated risk. We can’t control everything that happens to us. But, if we take the time to assess some risks more closely, we may decide that the advantage is not worth taking the risk, and thus control the outcome. Our lives, our health, our family, our security – our sanity – is more important.
• The thing about gambling that scares most people is the fear of losing, and when it comes to money I get that. I look more at the possibility of winning, especially if the reward is worth the risk. You shouldn’t gamble your way through life, but if a gamble presents itself, you should be open to at least the idea of playing it out.
• Here’s what a bet on each game is worth towards your bonus: Slots 100% Table Games 10% Live Casino 10% Jackpot Slots 10% Video Poker 0% There are specific slot games that will contribute different amounts, too. You’ll want to read their terms and conditions to learn what those are. Other than that, the max you can bet is €5 per round.

On these black-market sites, you’re likely to get ripped off. If you win, you’ll likely never see your winnings. The site may disappear with your money or steal from your bank accounts. Unfortunately, you might not realise the site is dodgy until it’s too late.

Is Gambling Worth The Risks

These sites are the gambling equivalent of free solo climbing — scaling up a cliff-face without a rope. Information on protecting yourself from illegal online gambling sites is available from ACMA.

2. The odds are against you.

Although online gambling providers sell themselves as an easy way to make money, a bit of harmless fun, like any form of gambling, the house always wins. The system is set up to make the owners money. They will always take their percentages and the balance is shared between the players.

3. Your phone — a ‘casino in your pocket’?

The average online gambler has five gambling apps on their phone. It’s important to consider how dangerous it is to have such easy access 24/7. With the new socially-distant lifestyles most of us are still observing under COVID, getting into the gambling Zone has never been easier or riskier. Over the course of an idle evening, money can leave your credit or debit card with such ease. Too often Gambling Help counsellors hear the story of people taking out the allowed $10000 from their superannuation and losing it within days.

Is Gambling Worth The Risk Calculator

If you’ve taken up online gambling to relieve boredom, stress, or in an attempt to improve your financial position, consider the alternatives before putting yourself and your finances at risk.

If you need some ideas about how to get started on working on your finances, mental health, or just want to chat, we can help. Get in touch with a trained counsellor on 1800 858 858 or chat to us online.

Buying raw land is one of the riskiest ventures that any real estate investor can make. There are some great profits to be made from purchases that work out, especially if you can predict the direction of growth and expansion, but there is always the chance that the land will sit there for years before it shows any appreciation in value. Is is really worth the gamble?

There are great financial risks involved when purchasing raw land.

Raw land has great potential to appreciate in value, but there is no depreciation for income tax purposes and there are sure to be long periods of ownership where no income is generated. It can take years to see any sign of gains, or interest in the land, and it is all subject to supply and demand, as well as other factors that are out of your control. What if you buy a plot of raw land, assuming it will be attractive to developers in the future, only to find that environmental testing scuppers any plans?

Despite these risks, the chance of great profit drives many investors to continue and take a chance on a cheap plot. Subdivision and the development of large tracts of raw land can provide a safety net of sorts in areas that are a sure thing; however, many investors choose to take a bigger chance through long-term holding.

Long-term holding and Disney:

An alternative approach is to go in for long-term holding – an option that is highly appealing for those that are patient and happy to see how it all plays out. Boiled down to its simplest terms, all you need to do with long-term holding is buy a seeming worthless, out-the-way piece of land and wait for developers to reach it. That land could become very appealing once developers run out of room, and the bigger the company, the bigger the profits. This was certainly the case in the rough swampland of Orlando once Disney moved in. The area suddenly became prime real estate and all those long-term holders were rewarded with big profits as the surrounding area saw a surge in appreciation.

In the end, it can all come down to land speculation. Investors need to have a hunch that an area of raw land will, at some point, be reconsidered as a great location for future development. The land that contains many out-of-town retail parks or fancy residential areas was once barren and useless. You just have to anticipate the direction that developers will take, purchase a cheap plot and wait for the demand to increase its value.

Buying raw land is all about the gamble. Big risks and high-stake bets can lead to some big rewards.

The term speculation shows just how much of a gamble we are taking when we invest in raw land. There are no certainties with either approach and investors have to be prepared for a long wait, especially if developers take a different path and the plot does not appreciate in value to the level you had hoped for. If you can be sure of purchasing land within a clear path of growth and expansion then your chances will improve, but the fate of the investment is out of your hands. All you can do is research your best options, trust in the laws of supply and demand and hope that lady luck is on your side as you roll the dice.