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Let's begin with a definition. What is gambling? Gambling is betting on a thing that may or may not happen in the future. As we gamble, we take a risk, choose an uncertain outcome, and bet on it. Gamblers bet on casino games, horse racing, and sports where the result can not be predicted with certainty. Some people will bet on anything. Remember the Seinfeld episode where Kramer bet on the arrival and departure times of airplanes at a brand new York City airport?

How is gambling not the same as buying stocks and bonds? Stocks and bonds are thought about investments and not gambles because we can reasonably anticipate to come out ahead in the long run. They might be risky although not within the same sense as gambling.

How is gambling distinctive from buying coverage? As we buy coverage, we are betting on something that may or might not happen later on. We do not want to take the risk which it will happen, so we pay somebody else (the insurance coverage company) to take the risk for us. Whenever we buy homeowner's coverage, one example is we have been betting our house will burn down as well as the coverage company is betting it will not. (Of-course we hope we won't win this bet.) This isn't gambling since the risk can be calculated. The insurance coverage company uses all kinds of statistics to analyze the probability of our house burning down and fixes the premium we are going to pay accordingly.

Individuals have gambled since ancient times. Conversely, society never approved of it since it was labeled an attempt to get money without working for it. Society considered that hard work should pave the way to financial success. It was not until the late 1960s that states (except for Nevada which had legalized all forms of gambling earlier) started to run lotteries to raise money for worthwhile causes.

So why do we gamble even though we have been unlikely to win within the long haul? We gamble for the excitement of the uncertain outcome. Some gamble to try to make their financial dreams come true. Many people gamble for entertainment or enjoyment, such as a night out with friends at the casino or perhaps a bingo game for a charitable organization or perhaps a online lottery ticket. Some think also they can beat the odds and make a living out of gambling. There are actually folks who gamble given that they simply love the challenge. They look-at gambling as a game of skill or problem solving and they are sure they may win. Some like the environment or perhaps the thrill of a possible big win, or perhaps the adrenaline rush of taking a chance. Casinos allow us to socialize and pass some time. You'll find no clocks in a casino; we lose track of time; we forget all our troubles. It's like a therapy session! If we are timid, we can go to a casino and boldly take chances.

Occasional gambling may be a relaxing form of entertainment but be cautious not to get addicted. Addiction may lead to obsession. You may lose control and become so fanatical which you can ruin you life or suffer other catastrophic consequences. So if you gamble, be sure you set limits and keep to the limits you've got set.