Let’s begin with a definition. What is gambling? Gambling is betting on an issue that may or might not happen later on. Whenever 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. 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 brand new York City airport?

How is gambling not the same as buying stocks and bonds? Stocks and bonds are considered investments and not gambles because we can reasonably expect to come out ahead within the long haul. They could be risky but not within the same sense as gambling.

How is gambling different from buying insurance coverage? As we buy coverage, we are betting on an issue that may or might not happen down the road. We do not want to take the risk which it will happen, so we pay someone else (the insurance coverage company) to take the risk for us. As we buy homeowner’s insurance coverage, for instance, we are betting our house will burn down and the coverage company is betting it will not. (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 Alexistogel fixes the premium we shall pay accordingly.

People have gambled since ancient times. However, society never approved of it since it was labeled an attempt to get money without doing work for it. Society thought 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 are unlikely to win in the long haul? We gamble for the excitement of the uncertain outcome. Some gamble to attempt to make their financial dreams come true. Many people gamble for entertainment or enjoyment, for example a night out with friends at the casino or perhaps a bingo game for a charitable organization or possibly a lottery ticket. Some think they can beat the odds and earn a living out of gambling. You can find men and women 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 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’ll 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 type of entertainment but be mindful not to get addicted. Addiction may lead to obsession. You could lose control and become so fanatical that you could 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.