By C.J. Lloyd, June 7, 2024
While we have talked about the beauty that can come from being blessed with abundance and how it can be used for God’s glory, understanding the route by which someone may achieve abundance is worth investigating. We live in a day and age where creating abundance as fast as possible is idolized, and with technological advancements, instant gratification is borderline expected.
The American Gaming Association’s report on the total revenue from various forms of gambling provides a stark illustration of our society’s fascination with instant wealth. The figures reveal that the income from land-based casino games, sports betting, and iGaming reached a staggering $66.52 billion for the 2023 calendar year, marking a significant 10% gain from the previous record set in 2022. Many individuals faced a loss for potential gain on the other side of this 10% increase for wager-based facilities. With this, the core aspect of gambling is money. God warns us against the love of money and the haste to gather it quickly. “For the love of money is a root of all sorts of evil, and some by longing for it have wandered away from the faith and pierced themselves with many griefs” (1 Timothy 6:10 NASB20).
Gambling may seem like a more blatant attempt at getting rich quickly. In contrast, there are less apparent routes, such as the IM Academy scandal, that set many people up for failure. Coining the phrase “Harvard of Trading,” the IM Academy lured young individuals with the promise of riches quickly gained through successful stock trading. However, the program operated more like a pyramid scheme than a legitimate investment education. Thousands of young adults were left with significant debt and great disappointment. They were lured into the program by their desire for a quick profit, but their lack of understanding often resulted in personal disaster.
The IM Academy example points us to two biblical truths:
First, an excessive focus on getting rich quickly leads to despair.
“A person with an evil eye hurries after wealth, And does not know that poverty will come upon him” (Proverbs 28:22).
Second, diligence and patience are valuable.
“The soul of the lazy one craves and gets nothing, But the soul of the diligent is made prosperous” (Proverbs 13:4).
The book of Proverbs reminds us that wisdom is more precious than rubies and that those who seek it are blessed with discernment and understanding. When we seek to gain riches quickly, we do not follow God’s plan. Hard work and patience should be our investment model. As we advance, let us seek wisdom in our investment decisions, leaning not on our knowledge but trusting God for the guidance we need.
Links to the sources for the gambling and IM Academy scheme topics mentioned above are provided below; they are worth a read.
IM Academy: https://news.bloomberglaw.com/bankruptcy-law/harvard-of-trading-ruined-thousands-of-young-peoples-lives
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