I think the only big difference in Gambling vs Speculation or Investing if you are ONLY allowed to either WIN or LOSE per transaction and you don't have the option to HOLD if the position goes against you. That is definitely GAMBLING.
E.g.
Contra Trading can be considered as Gambling if some one has no resources to fully pay up for the transaction and the only option is either WIN or LOSE.
Read on for more ...
http://createwealth8888.blogspot.com/2009/09/gambling-investment-speculation.html
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