alt Hacker News> What made one gambling and the other not? What makes any given bet a legitimate financial trade versus pure gambling?
Legally, it's whether the bet meets the legal definition of gambling as per the legislation applicable in your jurisdiction and any binding case law. There's no universal answer.
But from an ordinary language perspective, the difference is whether it involves an element of skill sufficient (at least in theory) to win in the long run if you possess that skill. For example:
Roulette - generally gambling
Blackjack - usually gambling these days, sometimes not if count counting is feasible
Poker - not gambling
Stock market investing - not gambling
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The examples don't hold in most jurisdictions (except for the stock market and if short sells are allowed).
All of the three categories are defined as gambling in pretty much all jurisdictions across the globe. However, they are classified as different types, e.g. roulette is closer to slots than poker is. Then poker can be "cash tables" vs "tournament". The main classifier difference is "game of chance" vs "game of skill", yet there are lots of nuances.
> Stock market investing - not gambling
That entirely depends on the asset classes you invest in. Proper stonks? Sure, that's not gambling. But as soon as you enter the fun world of derivatives and daytrading...
> Poker - not gambling
https://en.wikipedia.org/wiki/United_States_v._Scheinberg
In the distant past of 2011, offering online poker to Americans, even from overseas, brought serious Federal prison time. That was before the lobbyists got to work.