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Let's begin with a definition. What is gambling? Gambling is betting on something that may or may not happen later on. Whenever 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. 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 different from buying stocks and bonds? Stocks and bonds are considered investments and not gambles because we can reasonably expect to come out ahead within the long run. They could be risky but not within the same sense as gambling.
How is gambling different from buying insurance coverage? As we buy insurance, we are betting on an issue that may or might not happen later on. We don't want to take the risk that it will happen, so we pay someone else (the insurance company) to take the risk for us. When we buy homeowner's insurance coverage, for example, we have been betting our house will burn down and the insurance company is betting it will not. (Of course we hope we will not win this bet.) This isn't gambling since the risk can be calculated. The coverage company uses all kinds of statistics to analyze the probability of our house burning down and fixes the premium we shall pay accordingly.
People have gambled since ancient times. In contrast, society never approved of it since it was labeled an attempt to get money without working for it. Society thought that serious effort should pave the way to financial success. It wasn't 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 have been unlikely to win within the long haul? We gamble for the excitement of the uncertain outcome. Some gamble to attempt to make their financial dreams come true. A lot of people gamble for entertainment or enjoyment, such as a night out with friends at visit the up coming document casino or perhaps a bingo game for a charitable organization or perhaps a lottery ticket. Some think they may beat the odds and earn money out of gambling. There are people who gamble since 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 even the adrenaline rush of taking a chance. Casinos allow us to socialize and pass some time. You can find 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 could possibly be a relaxing form of entertainment but be mindful not to get addicted. Addiction may lead to obsession. You may lose control and become so fanatical that one 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.