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Let's begin with a definition. What is gambling? Gambling is betting on a thing that may or might not happen later on. As 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 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 in the long term. They can be risky although not within the same sense as gambling.

How is gambling not the same as buying insurance coverage? When we buy insurance coverage, we are betting on a thing that may or might not happen in the foreseeable future. We do not want to take the risk that it will happen, so we pay someone else (the coverage company) to take the risk for us. Whenever we buy homeowner's insurance, one example is we are betting our house will burn down and also the coverage company is betting it won't. (Of course we hope we will not win this bet.) This is not gambling because the risk may be calculated. The insurance 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.

People have gambled since ancient times. In contrast, society never approved of it because it was labeled an effort to get money without working 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 even though we have been 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. Many people gamble for entertainment or enjoyment, such as a night out with friends at the casino or a bingo game for a charitable organization or perhaps a online lottery ticket. Some think they can beat the odds and earn a living out of gambling. You'll find individuals who gamble while 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 perhaps 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 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 may be a relaxing form of entertainment but be mindful not to get addicted. Addiction may lead to obsession. You may lose control and become so fanatical you could 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.

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