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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 down the road. 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 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 not the same as buying stocks and bonds? Stocks and bonds will be considered investments and not gambles because we can reasonably anticipate to come out ahead within the long haul. They can be risky but not within the same sense as gambling.

How is gambling different from buying insurance coverage? Whenever we buy insurance, we are betting on a thing that may or may not happen later on. We do not want to take the risk that it will happen, so we pay someone else (the coverage company) to take the risk for us. As we buy homeowner's insurance coverage, one example is we have been betting our house will burn down as well as the insurance coverage company is betting it will not. (Of-course we hope we will not win this bet.) This is not gambling since 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 shall pay accordingly.

Individuals have gambled since ancient times. On the flip side, society never approved of it because it was labeled an attempt to get money without working 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 despite the fact that we have been unlikely to win in the long haul? We gamble for the excitement of the uncertain outcome. Some gamble to try to 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 possibly a lottery online ticket. Some think they can beat the odds and earn money out of gambling. You'll find men and women 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 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. You can 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 will go to a casino and boldly take chances.

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