Let's start with a definition. What is gambling? Gambling is betting on an element that may or might not happen in the foreseeable 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 not be predicted with certainty. Some 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 not the same as 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 run. They may be risky although not within the same sense as gambling.
How is gambling not the same as buying coverage? When we buy coverage, we have been betting on an element that may or might not happen down the road. We do not want to take the risk that it shall happen, so we pay someone else (the coverage company) to take the risk for us. As we buy homeowner's coverage, for example, we are betting our house will burn down as well as the insurance coverage company is betting it won't. (Of course we hope we won't win this bet.) This isn't gambling because 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.
Individuals have gambled since ancient times. On the contrary, society never approved of it because it was labeled an attempt to get money without doing work for it. Society considered 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 attempt to make their financial dreams come true. A lot of 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 a lottery ticket. Some think they may beat the odds and earn money out of gambling. There are individuals 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 going for 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 have been 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 fta.edu.do get addicted. Addiction may lead to obsession. You might lose control and become so fanatical you could ruin you life or suffer other catastrophic consequences. So if you gamble, make sure you set limits and keep to the limits you have set.
How is gambling not the same as 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 run. They may be risky although not within the same sense as gambling.
How is gambling not the same as buying coverage? When we buy coverage, we have been betting on an element that may or might not happen down the road. We do not want to take the risk that it shall happen, so we pay someone else (the coverage company) to take the risk for us. As we buy homeowner's coverage, for example, we are betting our house will burn down as well as the insurance coverage company is betting it won't. (Of course we hope we won't win this bet.) This isn't gambling because 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.
Individuals have gambled since ancient times. On the contrary, society never approved of it because it was labeled an attempt to get money without doing work for it. Society considered 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 attempt to make their financial dreams come true. A lot of 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 a lottery ticket. Some think they may beat the odds and earn money out of gambling. There are individuals 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 going for 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 have been 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 fta.edu.do get addicted. Addiction may lead to obsession. You might lose control and become so fanatical you could ruin you life or suffer other catastrophic consequences. So if you gamble, make sure you set limits and keep to the limits you have set.