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Let's begin with a definition. What is gambling? Gambling is betting on an issue that may or might not happen in the future. Once 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. Many people will bet on anything. Remember the Seinfeld episode where Kramer bet on the arrival and departure times of airplanes at a brand Alexistogel 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 anticipate to come out ahead in the long term. They might be risky but not within the same sense as gambling.

How is gambling different from buying insurance coverage? Once we buy coverage, we have been betting on an element that may or may not happen in the future. We do not want to take the risk which it shall happen, so we pay someone else (the coverage company) to take the risk for us. Whenever we buy homeowner's insurance coverage, for instance, we have been betting our house will burn down as well as the insurance company is betting it won't. (Of-course we hope we will not win this bet.) This isn't gambling because the risk may be calculated. The 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.

People have gambled since ancient times. Conversely, society never approved of it since it was labeled an effort to get money without doing work for it. Society thought 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 even though we are unlikely to win in the long term? 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, for example a night out with friends at the casino or a bingo game for a charitable organization or possibly a lottery ticket. Some think they may beat the odds and earn money out of gambling. You'll find people that gamble given that 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 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 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 you could 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.