Let's start with a definition. What is gambling? Gambling is betting on an issue that may or might not happen down the road. 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 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 in the long term. They could be risky but not within the same sense as gambling.

How is gambling different from buying insurance? When we buy coverage, we are betting on an element that may or may not happen in mouse click the next web page future. We do not want to take the risk that it shall happen, so we pay somebody else (the coverage company) to take the risk for us. Once we buy homeowner's coverage, for example, we are 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 isn't gambling because the risk can 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're going to pay accordingly.

Individuals have gambled since ancient times. On the contrary, society never approved of it because it was labeled an attempt 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 and make their financial dreams come true. Some individuals 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 may beat the odds and earn a living out of gambling. There are actually individuals 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 can win. Some like the environment or perhaps 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. You will find 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 could be a relaxing form of entertainment but be careful not to get addicted. Addiction may lead to obsession. You might 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 keep to the limits you've got set.