Let’s begin with a definition. What is gambling? Gambling is betting on an issue that may or Related Web Page may not happen in the 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 brand new York City airport?
How is gambling distinctive from buying stocks and bonds? Stocks and bonds will be considered investments and not gambles because we can reasonably anticipate to come out ahead in the long term. They may be risky although not within the same sense as gambling.
How is gambling different from buying insurance coverage? Once we buy insurance, we have been betting on something that may or might not happen later on. We don’t want to take the risk which it shall happen, so we pay someone else (the coverage company) to take the risk for us. Whenever we buy homeowner’s coverage, for example, we are 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 isn’t gambling since the risk can be calculated. The 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. Conversely, society never approved of it since 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 are 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 possibly a lottery ticket. Some think they can beat the odds and earn money out of gambling. There are folks who gamble while they simply love the challenge. They look-at gambling as a game of skill or problem-solving and they are sure they may win. Some like the environment or even the thrill of a possible big win, or even 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 have been timid, we will go to a casino and boldly take chances.
Occasional gambling could possibly be a relaxing type of entertainment but be careful not to get addicted. Addiction may lead to obsession. You might lose control and become so fanatical that you can 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.
