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Let's start with a definition. What is gambling? Gambling is betting on an issue that may or might not happen in the future. 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 cannot be predicted with certainty. A lot of people will bet on anything. Remember the Seinfeld episode where Kramer bet on the arrival and departure times of airplanes at a whole new York City airport?

How is gambling distinctive from buying stocks and bonds? Stocks and bonds are 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 coverage? Once we buy insurance, we have been betting on an issue that may or may not happen later on. We don't want to take the risk which it will happen, so we pay somebody else (the insurance company) to take the risk for us. Whenever we buy homeowner's insurance coverage, one example is 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 isn't gambling since 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. In contrast, society never approved of it since it was labeled an attempt 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 despite the fact that 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. A lot of people gamble for entertainment or enjoyment, for example a night out with friends at the safe online casino gambling agency or a bingo game for a charitable organization or possibly a lottery ticket. Some think they can beat the odds and earn a living out of gambling. You'll find folks 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 even 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. There are 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 can go to a casino and boldly take chances.

Occasional gambling could be a relaxing type of entertainment but be mindful not to get addicted. Addiction may lead to obsession. You may lose control and become so fanatical that you may ruin you life or suffer other catastrophic consequences. So if you gamble, make sure to set limits and keep to the limits you have set.