Let’s begin with a definition. What is gambling? Gambling is betting on a thing that may or might not happen in the future. When we gamble, we take a risk, choose an uncertain outcome, Alexistogel and bet on it. Gamblers bet on casino games, horse racing, and sports where the result can’t be predicted with certainty. Some individuals 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 distinctive 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 may be risky although not in the same sense as gambling.

How is gambling distinctive from buying coverage? As we buy insurance coverage, we are betting on something that may or may not happen in the future. We do not want to take the risk that it will happen, so we pay somebody else (the insurance coverage company) to take the risk for us. Whenever we buy homeowner’s coverage, one example is we are betting our house will burn down and also the insurance company is betting it will not. (Of-course we hope we won’t 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 shall pay accordingly.

Individuals have gambled since ancient times. On the flip side, society never approved of it since 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 are unlikely to win in the long term? We gamble for the excitement of the uncertain outcome. Some gamble to try and make their financial dreams come true. Some individuals 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 perhaps a lottery ticket. Some think they can beat the odds and earn money out of gambling. There are those that gamble since 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 even the adrenaline rush of taking 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 can go to a casino and boldly take chances.

Occasional gambling may be a relaxing type of entertainment but be cautious not to get addicted. Addiction may lead to obsession. You might lose control and become so fanatical that you could 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.