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Let's begin with a definition. What is gambling? Gambling is betting on a thing that may or may not happen down the road. When we gamble, we take a risk, choose an uncertain outcome, and Alexistogel bet on it. Gamblers bet on casino games, horse racing, and sports where the result can not 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 new York City airport?

How is gambling different from 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 run. They may be risky although not in the same sense as gambling.

How is gambling distinctive from buying insurance coverage? When we buy coverage, we are betting on a thing that may or might not happen down the road. We do not want to take the risk which it shall happen, so we pay someone else (the insurance coverage company) to take the risk for us. When we buy homeowner's coverage, for instance, 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 won't win this bet.) This is not gambling since the risk can be calculated. The 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.

Individuals have gambled since ancient times. In contrast, society never approved of it since it was labeled an effort 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 even though we have been 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. 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 they can beat the odds and earn money out of gambling. You will find those who 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 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 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 are timid, we will go to a casino and boldly take chances.

Occasional gambling may 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 one can 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.