Let’s start with a definition. What is gambling? Gambling is betting on a thing that may or may not happen down the road. 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 individuals 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 not the same as buying stocks and bonds? Stocks and bonds are thought about investments and not gambles because we can reasonably anticipate to come out ahead within the long run. They can be risky although not within the same sense as gambling.

How is gambling different from buying insurance coverage? Whenever we buy insurance coverage, we are betting on a thing that may or may not happen down the road. 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. When we buy homeowner’s coverage, one example is we have been betting our house will burn down as well as the coverage company is betting it won’t. (Of-course we hope we will not win this bet.) This isn’t gambling since the risk can be calculated. The insurance 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.

Individuals have gambled since ancient times. On the contrary, society never approved of it since it was labeled an attempt to get money without working for it. Society thought that serious effort should pave the way to financial success. It was not 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 in the long haul? 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, such as a night out with friends at the safe online casino or possibly a bingo game for a charitable organization or perhaps a lottery ticket. Some think they may beat the odds and earn a living out of gambling. You’ll find people that 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 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. 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 are timid, we will 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 could lose control and become so fanatical which you can 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.