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Let's begin with a definition. What is gambling? Gambling is betting on a thing that may or might not happen in the foreseeable future. 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 cannot be predicted with certainty. A lot of 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 are considered investments and not gambles because we can reasonably expect to come out ahead in the long haul. They can be risky although not within the same sense as gambling.

How is gambling not the same as buying coverage? Whenever we buy coverage, we are betting on an element that may or might not happen down the road. We do not want to take the risk which it will happen, so we pay somebody else (the insurance company) to take the risk for us. When we buy homeowner's 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 won't win this bet.) This is not 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're going to pay accordingly.

Individuals have gambled since ancient times. On the flip side, society never approved of it because it was labeled an attempt to get money without doing work 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 within the long run? We gamble for the excitement of the uncertain outcome. Some gamble to try to make their financial dreams come true. Many people gamble for entertainment or enjoyment, for example a night out with friends at the casino online or a bingo game for a charitable organization or possibly a lottery ticket. Some think they may beat the odds and earn money out of gambling. You can find people who gamble since 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 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 are timid, we will go to a casino and boldly take chances.

Occasional gambling may be a relaxing form of entertainment but be careful not to get addicted. Addiction may lead to obsession. You might lose control and become so fanatical which you can 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.