Many activities directly comparable to gambling are already legal and regulated  What is the difference between gambling and playing the stock market? In each case people are putting money at risk in the hope of a particular outcome. Gambling on horse-racing or games involves knowledge and expertise that can improve your chances of success. In the same way, trading in bonds, shares, currency or derivatives is a bet that your understanding of the economy is better than that of other investors. Why should one kind of online risk-taking be legal and the other not?