Gambling

Gambling is the wagering (or betting) of money on games of chance. Though for many it is a form of recreation, it can become a psychologically addictive and harmful behavior in some people. Because of the negative connotations of the word, casinos often use the euphemism "gaming" to describe the recreational gambling activities they offer. Gambling may also refer to engaging in any high-risk behavior.

Because of the generally negative religious view as well as various perceived social costs, gambling is either banned or heavily controlled (licensed) in many jurisdictions. Consequently, gambling has long been linked to organised crime. Conversely, the close involvement in governments (through regulation and gambling taxation) has led to a close connection between many governments and gambling organisations, where legal gambling provides much government revenue.

Gambling games are believed to predate recorded history, with gambling games recorded in virtually all of the ancient civilizations.

Types of casino gambling:

Fixed-odds gambling and Parimutuel gambling are frequently offered at or on the following kinds of events: In addition many bookmakers offer odds on a number of non-sports related outcomes, e.g. the direction of various financial indices, whether snow will fall on Christmas Day, the winner of television competitions such as Big Brother, etc.

Non-casino gambling games:

Table of contents
1 Other betting
2 See also
3 External links

Other betting

One can also bet with another person that a statement is true or false, or that a specified event will happen (a "back bet") or will not happen (a "lay bet") within a specified time. This is done in particular when two people have opposing views of what is true or will happen and are each rather certain. Not only do the parties hope to gain from the bet, they place the bet also to demonstrate how certain they are about the issue. A requirement is that it is possible to determine who was right. Sometimes the amount bet is nominal, winning being the important point. Logically insurance is a kind of bet, but the purpose is different.

See also

External links




copyright 2004 FactsAbout.com