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Let's begin with a definition. What is gambling? Gambling is betting on an element that may or might not happen in the foreseeable future. When 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. Many 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 not the same as buying stocks and bonds? Stocks and bonds are considered investments and not gambles because we can reasonably anticipate to come out ahead within the long run. They might be risky although not in the same sense as online gambling agency.

How is gambling distinctive from buying coverage? As we buy coverage, we are betting on an element that may or might not happen in the foreseeable future. We don't want to take the risk that it will happen, so we pay somebody else (the insurance company) to take the risk for us. Once we buy homeowner's coverage, one example is we have been betting our house will burn down as well as the insurance company is betting it will not. (Of course we hope we will not 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 are going to pay accordingly.

Individuals have gambled since ancient times. On the other hand, society never approved of it because it was labeled an attempt 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 run? 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 possibly a bingo game for a charitable organization or a lottery ticket. Some think they may beat the odds and make a living out of gambling. You will find individuals that 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 even 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. There are actually 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 could 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 you could 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.