What is the difference between investing and gambling? 

I wish I had a good answer.

Gamblers will go home as winners or losers. 

Stock investors (if we can call them that) are still in the game. 

Some focus on management others build a diversified portfolio . Either way you put your money up with the outcome unknown. 

I think the difference is that investors control their stack. It is not all in or bust. You win, you lose and then you have your portfolio (STACK) . Walk away and come back the next day.

Gambling houses are built on your money. Eventually you will lose because you are playing against the house. The math will beat you every time over time.  No one ever beats the bank in Monte Carlo. 

However .. Stocks give you an advantage. You can chose your cards. Human as we are we will make bad choices, such as chasing hot stocks and dumping those that once were. 

We are not all Ivy's or Moneymakers or guys with balls of steel holding the nuts, however, we can beat the average. We are not just rolling the dice. 

We (thats u and me) have an advantage: Due Diligence and time. 

This is how we can own the casino. 

Even if you would rather not pick a stock you can buy a mutual fund or an index fund. You can own part of the casino, but like most things in life it takes time to reap the outcome. 

BTW I am not a gambler.

See also: I'll Flip You For It