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Let’s start with a definition. What is gambling? Gambling is betting on a thing that may or might 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 not be predicted with certainty. Some individuals 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 thought about investments and good online gambler not gambles because we can reasonably expect to come out ahead in the long term. They might be risky but not in the same sense as gambling.

How is gambling not the same as buying insurance? As we buy coverage, we have been betting on an element that may or may not happen in the future. We do not want to take the risk which it shall happen, so we pay somebody else (the insurance coverage company) to take the risk for us. Once we buy homeowner’s insurance coverage, as an example, we have been betting our house will burn down and the coverage company is betting it won’t. (Of-course we hope we won’t win this bet.) This is not 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 are going to pay accordingly.

Individuals have gambled since ancient times. On the contrary, society never approved of it since it was labeled an attempt to get money without working for it. Society thought 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 run? 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 the casino or perhaps a bingo game for a charitable organization or a lottery ticket. Some think also they can beat the odds and earn money out of gambling. You will find folks who gamble because they simply love the challenge. They look-at gambling as a game of skill or problem-solving and they are sure they can 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 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 are timid, we will 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 might lose control and become so fanatical you could ruin you life or suffer other catastrophic consequences. So if you gamble, be sure to set limits and keep to the limits you’ve got set.

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