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Let's start 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. Many people will bet on anything. Remember the Seinfeld episode where Kramer bet on the arrival and departure times of airplanes at a new York City airport?

How is trusted gambling different from 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 can be risky but not within the same sense as gambling.

How is gambling distinctive from buying coverage? As we buy insurance coverage, we have been betting on a thing that may or may not happen in the future. We don't want to take the risk that it shall happen, so we pay somebody else (the insurance company) to take the risk for us. Whenever we buy homeowner's coverage, for example, we have been betting our house will burn down and also the insurance company is betting it won't. (Of-course we hope we won't win this bet.) This is not gambling since 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're going to 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 doing work for it. Society considered that serious effort 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 and 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 perhaps a lottery ticket. Some think they can beat the odds and earn a living out of gambling. You'll find those that 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 the adrenaline rush of going for 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 have been timid, we will go to a casino and boldly take chances.

Occasional gambling might 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 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 have set.

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