In this write-up, we discuss three (3) common business activities that can be considered as gambling rather than doing business.Įvery Ghanaian seeking windfall gains is likely to consider any of the “big six” business ventures namely: (a) oil marketing, (b) mining, (c) construction, (d) import and export, (e) haulage, and (f) renewable energy. And yes, in business, “the higher the risk, the higher the returns” but the urge to make higher returns should not outweigh the application of prudence in investment. We should understand that whenever we do business the wrong way, whenever a due process is breached, whenever an investment decision is clouded by the desire to make more money than necessary, and whenever we outwit the law, we are gambling. And truth be told, most people, unknowingly, are engaging in gambling under the disguise of doing business and losing huge sums of money to their own detriment and that of their families and society at large. The above quote clearly speaks for itself on the characteristics and /or consequences of gambling which raises concerns for strict regulation. Perhaps, a good solution to prevent the damaging effects of gambling is to make it illegal.”Īs the saying goes, “ res ipsa loquitur”.

It tempts you to risk more in an attempt to win more (emphasis mine) and the cycle does not seem to end…. Gambling is something that blurs this line.

When it comes to making money, one has to draw a line between need and greed. “ Gambling refers to the process of staking money in view of gaining more. Have you ever considered why gambling is illegal or strictly regulated in most jurisdictions? Well, other than criminal activities which are highly prevalent in gambling, there are other social, religious and public policy reasons why gambling is not encouraged or highly regulated and one of such reasons is the high risk of loss of money.Īccording to a publication on the “Opinionfront” website ( ) which I find very instructive in this write-up, the writer stipulates and I quote:

Reasons why gambling should be illegal