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Let's begin with a definition. What is gambling? Gambling is betting on an issue that may or may not happen later on. 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 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 brand new York City airport?

How is gambling different from buying stocks and bonds? Stocks and bonds are thought about investments and not gambles because we can reasonably expect to come out ahead within the long haul. They could be risky although not within the same sense as gambling.

How is gambling distinctive from buying insurance? Once we buy insurance, we have been betting on something that may or might not happen in the foreseeable future. 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. When we buy homeowner's insurance, by way of example, we have been betting our house will burn down and also the insurance company is betting it will not. (Of-course we hope we won't win this bet.) This isn't gambling since 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 shall pay accordingly.

People have gambled since ancient times. On the other hand, society never approved of it since it was labeled an effort to get money without working for it. Society believed 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 have been unlikely to win in the long run? 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 possibly a bingo game for a charitable organization or perhaps a lottery ticket. Some think also they can beat the odds and earn money out of gambling. There are actually folks who gamble because they simply love the challenge. They look at gambling as a game of skill or Alexistogel 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 have been timid, we can 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 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 have set.