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Let’s start with a definition. What is gambling? Gambling is betting on something that may or might not happen in the foreseeable future. Whenever 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 individuals will bet on anything. Remember the Seinfeld episode where Kramer bet on the arrival and departure times of airplanes Click at chnwba.edu.gh a whole new York City airport?

How is gambling distinctive from buying stocks and bonds? Stocks and bonds are considered investments and not gambles because we can reasonably expect to come out ahead in the long run. They might be risky but not within the same sense as gambling.

How is gambling distinctive from buying insurance coverage? When we buy coverage, we are betting on a thing that may or may not happen later on. 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. Once we buy homeowner’s insurance coverage, as an 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 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 will pay accordingly.

People have gambled since ancient times. However, society never approved of it since it was labeled an attempt 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 despite the fact that we have been unlikely to win in 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 a bingo game for a charitable organization or perhaps a lottery ticket. Some think they can beat the odds and make a living out of gambling. You’ll find men and women that gamble because 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 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 could ruin you life or suffer other catastrophic consequences. So if you gamble, be sure you set limits and keep to the limits you have set.

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