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Let's start with a definition. What is gambling? Gambling is betting on something 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 can't be predicted with certainty. Some people 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 distinctive information from www.kolejsentralkl.edu.my buying stocks and bonds? Stocks and bonds are thought about investments and not gambles because we can reasonably expect to come out ahead in the long haul. They might be risky but not in the same sense as gambling.

How is gambling not the same as buying insurance? When we buy insurance, we are betting on a thing that may or might not happen later on. We do not want to take the risk that it will happen, so we pay someone else (the insurance company) to take the risk for us. As we buy homeowner's insurance, for instance, we are betting our house will burn down and the coverage company is betting it won't. (Of-course we hope we will not win this bet.) This is not 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're going to pay accordingly.

Individuals have gambled since ancient times. On the contrary, society never approved of it since it was labeled an attempt to get money without doing work for it. Society believed 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 term? We gamble for the excitement of the uncertain outcome. Some gamble to try to make their financial dreams come true. Many people gamble for entertainment or enjoyment, such as a night out with friends at the casino or possibly a bingo game for a charitable organization or possibly a lottery ticket. Some think also they can beat the odds and earn a living out of gambling. There are actually folks who 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 even the thrill of a possible big win, or the adrenaline rush of going for a chance. Casinos allow us to socialize and pass some time. You will discover 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 may be a relaxing type of entertainment but be careful not to get addicted. Addiction may lead to obsession. You could lose control and become so fanatical which you can ruin you life or suffer other catastrophic consequences. So if you gamble, make sure to set limits and keep to the limits you've got set.