Let’s start with a definition. What is gambling? Gambling is betting on a thing 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. 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 not the same as buying stocks and bonds? Stocks and bonds are thought about investments and not gambles because we can reasonably anticipate to come out ahead within the long run. They might be risky but not in the same sense as gambling.

How is gambling different from buying insurance coverage? When we buy insurance, we are betting on something that may or might not happen in the future. We do not want to take the risk that it shall happen, so we pay somebody else (the coverage company) to take the risk for us. As we buy homeowner’s insurance, as an example, we have been betting our house will burn down and the insurance company is betting it will not. (Of-course we hope we won’t win this bet.) This is not 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 shall pay accordingly.

People have gambled since ancient times. Conversely, society never approved of it since it was labeled an effort to get money without working for it. Society thought that serious effort 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 are unlikely to win within the long haul? We gamble for the excitement of the uncertain outcome. Some gamble to attempt to make their financial dreams come true. A lot of people gamble for Alexistogel entertainment or enjoyment, for example a night out with friends at the casino or perhaps a bingo game for a charitable organization or a lottery ticket. Some think they may beat the odds and earn money out of gambling. You will discover 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 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 are timid, we will go to a casino and boldly take chances.

Occasional gambling could possibly be a relaxing form of entertainment but be careful not to get addicted. Addiction may lead to obsession. You might lose control and become so fanatical that you may ruin you life or suffer other catastrophic consequences. So if you gamble, be sure you set limits and keep to the limits you’ve got set.