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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 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 cannot 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 new York City airport?

How is gambling different from buying stocks and bonds? Stocks and bonds will be considered investments and Alexistogel not gambles because we can reasonably expect to come out ahead in the long haul. They may be risky but not in the same sense as gambling.

How is gambling different from buying coverage? Whenever we buy insurance coverage, we have been betting on a thing that may or might not happen down the road. We do not want to take the risk which it will happen, so we pay someone else (the insurance company) to take the risk for us. Once we buy homeowner's insurance coverage, by way of example, we are betting our house will burn down and the insurance coverage company is betting it will not. (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're going to pay accordingly.

Individuals have gambled since ancient times. On the flip side, 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 even though we are unlikely to win in the long term? We gamble for the excitement of the uncertain outcome. Some gamble to try to make their financial dreams come true. Some people gamble for entertainment or enjoyment, for example a night out with friends at the casino or perhaps a bingo game for a charitable organization or possibly a lottery ticket. Some think they may beat the odds and make a living out of gambling. There are people 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 perhaps the thrill of a possible big win, or the adrenaline rush of taking 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 could be a relaxing form of entertainment but be careful not to get addicted. Addiction may lead to obsession. You may lose control and become so fanatical that you can ruin you life or suffer other catastrophic consequences. So if you gamble, make sure you set limits and keep to the limits you have set.