Let’s begin with a definition. What is gambling? Gambling is betting on an issue that may or might not happen in the foreseeable 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 whole 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 expect to come out ahead in the long run. They may be risky although not in the same sense as gambling.

How is gambling distinctive from buying insurance coverage? Whenever we buy coverage, we are betting on a thing that may or may not happen in the future. We don’t want to take the risk that it will happen, so we pay someone else (the insurance company) to take the risk for us. Once we buy homeowner’s insurance coverage, by way of example, we have been betting our house will burn down and the insurance coverage company is betting it won’t. (Of-course we hope we will not win this bet.) This isn’t gambling because the risk can 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.

People have gambled since ancient times. On the other hand, society never approved of it because it was labeled an effort to get money without working for it. Society believed 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 despite the fact that we have been unlikely to win within the long term? We gamble for the excitement of the uncertain outcome. Some gamble to try to make their financial dreams come true. A lot of 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 a lottery ticket. Some think they can beat the odds and earn money out of gambling. You will discover 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 also they can win. Some like the environment or the thrill of a possible big win, or 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 are timid, we will go to a casino and boldly take chances.

Occasional online gambling agency could be a relaxing type of entertainment but be mindful not to get addicted. Addiction may lead to obsession. You may lose control and become so fanatical 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 have set.