Gambling

From ArticleWorld

Gambling typically refers to risking money or material goods, on something with an uncertain outcome, in the hopes of winning more money or material goods.

What it is not

Gambling, although the term is used loosely to describe many situations or activities, usually excludes the following:

• Emotional or physical risk-taking
• Protecting oneself against loss
• Forms of long-term investment
• Starting a new business
• Activities where the gain of money or material goods is secondary

Types

There are several types of gambling, casino games that are considered beatable, casino games that are considered unbeatable, non-casino games, and games with fixed odds. Location matters little. A gambler may go to an actual casino, maybe gamble online, may place bets with a bookmaker, or may simply bet with other gamblers. In a beatable game, a player can create a positive expectation, if the proper strategy is used. In an unbeatable game, the odds are not in favor of the player. In the long run, the player will generally lose, unless they cheat. Non-casino gambling games include things like the lottery, Bridge and carnival games. Fixed odds gambling refers to activities where certain odds are given on a specific outcome. Sporting events and horse racing are two common types of activities that usually offer fixed odds.

Gambling addiction=

People who are compelled to gamble, regardless of the ability, or inablitiy, to afford the potential losses, are considered addicts. Gambling, like any other activity, involves a change in brain chemistry, and can become psychologically addicting. Positive, and negative, reinforcement may also cause gamblers to keep gambling, even after losing repeatedly. There are several organizations devoted to helping gambling addicts, and their families. Gamblers Anonymous (originating in the U.S., and based on the twelve step system created by Alcoholics Anonymous) and Gambler’s Help (originating in Australia) are two noteworthy organizations.