Let’s begin with a definition. What is gambling? Gambling is betting on an issue that may or may 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 not 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 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 can be risky although not in the same sense as gambling.

How is gambling not the same as buying insurance? Once we buy coverage, we are betting on something that may or might not happen down the road. We don’t want to take the risk that it will happen, so we pay somebody else (the insurance coverage company) to take the risk for us. Once we buy homeowner’s coverage, for example, we are betting our house will burn down and the coverage company is betting it won’t. (Of-course we hope we won’t win this bet.) This isn’t 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 will pay accordingly.

People have gambled since ancient times. On the flip side, society never approved of it since it was labeled an attempt to get money without doing work for it. Society thought 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 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. Some individuals 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 may beat the odds and earn money out of gambling. You will discover people that gamble because they simply love the challenge. They look-at gambling as a game of skill or problem solving and they are sure also they can win. Some like the environment or even the thrill of a possible big win, or perhaps the adrenaline rush of going for a chance. Casinos allow us to socialize and pass some time. You will discover no clocks in a learn online 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 could possibly be a relaxing form of entertainment but be mindful 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 you set limits and keep to the limits you’ve got set.