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Let’s start with a definition. What is gambling? Gambling is betting on something that may or Alexistogel may not happen in the future. Once 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 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 anticipate to come out ahead in the long run. They can be risky but not within the same sense as gambling.
How is gambling different from buying insurance coverage? Whenever we buy coverage, we are betting on something that may or might 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. Whenever we buy homeowner’s insurance coverage, by way of example, we have been betting our house will burn down and the coverage company is betting it will not. (Of course we hope we will not win this bet.) This isn’t gambling because the risk may 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 are going to pay accordingly.
Individuals have gambled since ancient times. On the flip side, society never approved of it because it was labeled an effort to get money without doing work for it. Society thought that hard work 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 within the long haul? We gamble for the excitement of the uncertain outcome. Some gamble to try to make their financial dreams come true. Some individuals 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 may beat the odds and make a living out of gambling. There are actually those that gamble because they simply love the challenge. They look-at gambling as a game of skill or problem-solving and they are sure they can win. Some like the environment or even the thrill of a possible big win, or 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 can go to a casino and boldly take chances.
Occasional gambling could be a relaxing type of entertainment but be cautious not to get addicted. Addiction may lead to obsession. You may lose control and become so fanatical that you may 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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