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Let's start with a definition. What is gambling? Gambling is betting on an element that may or might not happen down the road. 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't be predicted with certainty. Many 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 considered investments and not gambles because we can reasonably anticipate to come out ahead within the long haul. They could be risky but not in the same sense as gambling.

How is gambling not the same as buying coverage? Once we buy insurance, we have been betting on a thing that may or may not happen down the road. We do not want to take the risk that it will happen, so we pay somebody else (the insurance coverage company) to take the risk for us. Once we buy homeowner's insurance coverage, for instance, we have been betting our house will burn down and the insurance company is betting it won't. (Of-course we hope we will not win this bet.) This isn't gambling because the risk may be calculated. The insurance company uses all kinds of statistics to analyze the probability of our house burning down and fixes the premium we will pay accordingly.

People have gambled since ancient times. On the contrary, society never approved of it since it was labeled an effort to get money without working for it. Society believed 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 despite the fact that we are 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. A lot of people gamble for entertainment or enjoyment, such as a night out with friends at the casino or possibly a bingo game for a charitable organization or possibly a lottery ticket. Some think also they can beat the odds and make a living out of gambling. There are actually people that gamble because 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 even the thrill of a possible big win, or the adrenaline rush of going for a chance. Casinos allow us to socialize and pass some time. You will discover no clocks in a casino; we lose track of time; we forget all our troubles. It's like a therapy session! If we have been timid, we can go to a casino and boldly take chances.

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