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Let's begin with a definition. What is gambling? Gambling is betting on an element that may or may not happen later on. When 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. A lot of people will good online 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 distinctive from buying stocks and bonds? Stocks and bonds will be considered investments and not gambles because we can reasonably anticipate to come out ahead within the long term. They might be risky although not in the same sense as gambling.

How is gambling different from buying insurance? When we buy insurance coverage, we have been betting on something that may or might not happen later on. We do not want to take the risk that it shall happen, so we pay someone else (the coverage company) to take the risk for us. As we buy homeowner's insurance, as an example, we are betting our house will burn down as well as the coverage company is betting it won't. (Of course we hope we will not win this bet.) This is not gambling because the risk may 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.

People have gambled since ancient times. Alternatively, society never approved of it because it was labeled an effort to get money without doing work for it. Society considered that hard-work 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 even though we are 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. Many people gamble for entertainment or enjoyment, for example a night out with friends at the casino or a bingo game for a charitable organization or perhaps a lottery ticket. Some think they can beat the odds and earn a living out of gambling. You will discover those who gamble while they simply love the challenge. They look-at gambling as a game of skill or problem solving and they are sure also they can win. Some like the environment or even the thrill of a possible big win, or even the adrenaline rush of going for a chance. Casinos allow us to socialize and pass some time. There are actually 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 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 could lose control and become so fanatical that one can ruin you life or suffer other catastrophic consequences. So if you gamble, make sure to set limits and keep to the limits you've got set.

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