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Gambling (also known as betting) is the wagering something of
value Value or values may refer to: * Value (ethics) In ethics Ethics or moral philosophy is a branch of philosophy Philosophy (from , ) is the study of general and fundamental questions, such as those about Metaphysics, existence, reason, E ...
("the stakes") on an
event Event may refer to: Gatherings of people * Ceremony A ceremony (, ) is a unified ritual A ritual is a sequence of activities involving gestures, words, actions, or objects, performed in a sequestered place and according to a set sequence. Rit ...
with an uncertain outcome with the intent of winning something else of value. Gambling thus requires three elements to be present:
consideration Consideration is a concept of English law, English common law and is a necessity for simple contracts but not for special contracts (contracts by deed). The concept has been adopted by other common law jurisdictions. The court in ''Currie v Mis ...
(an amount wagered),
risk In simple terms, risk is the possibility of something bad happening. Risk involves uncertainty Uncertainty refers to Epistemology, epistemic situations involving imperfect or unknown information. It applies to predictions of future events, to ...

risk
(chance), and a
prize A prize is an award An award, sometimes called a distinction, is something given to a recipient as a token of recognition of excellence in a certain field. When the token is a medal Medal depicting Herbert C. Hoover by Devreese Godefr ...

prize
. The outcome of the wager is often immediate, such as a single roll of
dice Dice (singular die or dice) are small, throwable objects with marked sides that can rest in multiple positions. They are used for generating Statistical randomness, random numbers, commonly as part of tabletop games, including List of dice game ...

dice
, a spin of a
roulette Roulette is a casino A casino is a facility for certain types of gambling. Casinos are often built near or combined with hotels, resorts, restaurants, retail shopping, cruise ships, and other tourist attractions. Some casinos are also known ...

roulette
wheel, or a horse crossing the finish line, but longer time frames are also common, allowing wagers on the outcome of a future sports contest or even an entire sports season. The term "gaming" in this context typically refers to instances in which the activity has been specifically permitted by
law Law is a system A system is a group of Interaction, interacting or interrelated elements that act according to a set of rules to form a unified whole. A system, surrounded and influenced by its environment, is described by its bounda ...
. The two words are not mutually exclusive; ''i.e.'', a "gaming" company offers (legal) "gambling" activities to the public and may be regulated by one of many gaming control boards, for example, the
Nevada Gaming Control Board The Nevada Gaming Control Board, also known as the State Gaming Control Board, is a Nevada Nevada (, ) is a U.S. state, state in the Western United States, Western region of the United States. It is bordered by Oregon to the northwest, Idaho ...
. However, this distinction is not universally observed in the English-speaking world. For instance, in the United Kingdom, the regulator of gambling activities is called the
Gambling Commission The Gambling Commission is an Non-departmental public body, executive non-departmental public body of the Government of the United Kingdom responsible for regulating gambling and supervising gaming law in Great Britain. Its remit covers video arc ...
(not the Gaming Commission). The word ''gaming'' is used more frequently since the rise of
computer A computer is a machine that can be programmed to Execution (computing), carry out sequences of arithmetic or logical operations automatically. Modern computers can perform generic sets of operations known as Computer program, programs. These ...
and
video game#REDIRECT Video game A video game is an electronic game that involves interaction with a user interface or input device such as a joystick, game controller, controller, computer keyboard, keyboard, or motion sensing device to generate visual f ...
s to describe activities that do not necessarily involve wagering, especially online gaming, with the new usage still not having displaced the old usage as the primary definition in common dictionaries. "Gaming" has also been used to circumvent laws against "gambling". The media and others have used one term or the other to frame conversations around the subjects, resulting in a shift of perceptions among their audiences. Gambling is also a major international commercial activity, with the legal gambling market totaling an estimated $335 billion in 2009. In other forms, gambling can be conducted with materials that have a value, but are not real money. For example, players of marbles games might wager marbles, and likewise games of ''
Pogs Milk Caps is a children's game played with flat circular cardboard milk caps. Players make a stack of these caps, and take turns to drop a heavier "slammer" object onto it, causing the caps to be disrupted. Each player keeps any face-up caps and ...
'' or '' Magic: The Gathering'' can be played with the collectible game pieces (respectively, small discs and trading cards) as stakes, resulting in a meta-game regarding the value of a player's collection of pieces.


History

Gambling dates back to the
Paleolithic The Paleolithic or Palaeolithic or Palæolithic (), also called the Old Stone Age (from Greek palaios - old, lithos - stone), is a period in prehistory Prehistory, also known as pre-literary history, is the period of human history ...
period, before written history. In
Mesopotamia Mesopotamia ( grc, Μεσοποταμία ''Mesopotamíā''; ar, بِلَاد ٱلرَّافِدَيْن ; syc, ܐܪܡ ܢܗܪ̈ܝܢ, or , ) is a historical region of Western Asia situated within the Tigris–Euphrates river system, in th ...

Mesopotamia
the earliest six-sided
dice Dice (singular die or dice) are small, throwable objects with marked sides that can rest in multiple positions. They are used for generating Statistical randomness, random numbers, commonly as part of tabletop games, including List of dice game ...

dice
date to about 3000 BC. However, they were based on astragali dating back thousands of years earlier. In China, gambling houses were widespread in the first millennium BC, and betting on fighting animals was common. Lotto games and dominoes (precursors of
Pai Gow
Pai Gow
) appeared in China as early as the 10th century. Playing cards appeared in the 9th century AD in China. Records trace gambling in Japan back at least as far as the 14th century.
Poker Poker is a family of card games in which Card player, players betting (poker), wager over which poker hand, hand is best according to that specific game's rules in ways similar List of poker hands, to these rankings. While the earliest known f ...

Poker
, the most popular U.S. card game associated with gambling, derives from the Persian game
As-Nas As-Nas () is a card game A card game is any game A game is a structured form of play Play most commonly refers to: * Play (activity), an activity done for enjoyment * Play (theatre), a work of drama Play may refer also to: ...
, dating back to the 17th century. The first known casino, the
RidottoIl Ridotto (Italian Italian may refer to: * Anything of, from, or related to the country and nation of Italy ** Italians, an ethnic group or simply a citizen of the Italian Republic ** Italian language, a Romance language *** Regional Italian, regio ...
, started operating in 1638 in Venice, Italy.


Great Britain

Gambling has been a main recreational activity in Great Britain for centuries. Horseracing has been a favorite theme for over three centuries. It has been heavily regulated. Historically much of the opposition comes from evangelical Protestants, and from social reformers.


United States

Gambling has been a popular activity in the United States for centuries. It has also been suppressed by law in many areas for almost as long. By the early 20th century, gambling was almost uniformly outlawed throughout the U.S. and thus became a largely illegal activity, helping to spur the growth of the
mafia A mafia is a type of criminal organization whose central activity is the arbitration of disputes between criminals and the organization and enforcement of illicit agreements through the use of violence. Mafias often engage in secondary activities ...
and other
criminal organizations Organized crime is a category of transnational, national, or local groupings of highly centralized enterprises run by criminals to engage in illegal activity, most commonly for profit. Some criminal organizations, such as terrorist groups, are ...
. The late 20th century saw a softening in attitudes towards gambling and a relaxation of laws against it.


Regulation

Many jurisdictions, local as well as national, either ban gambling or heavily control it by licensing the vendors. Such regulation generally leads to gambling tourism and illegal gambling in the areas where it is not allowed. The involvement of governments, through regulation and taxation, has led to a close connection between many governments and gaming organizations, where legal gambling provides significant government revenue, such as in
Monaco Monaco (; ), officially the Principality of Monaco (french: Principauté de Monaco; Monégasque Ligurian: ''Prinçipatu de Mu̍negu''), is a sovereign Sovereign is a title which can be applied to the highest leader in various categories. The ...

Monaco
and
Macau, China Macau (; , ; ), also spelled Macao and officially the Macao Special Administrative Region of the People's Republic of China (Chinese: 中華人民共和國澳門特別行政區), is a city and Special administrative regions of China, special adm ...

Macau, China
. There is generally legislation requiring that gaming devices be
statistically randomA numeric sequence is said to be statistically random when it contains no recognizable patterns or regularities; sequences such as the results of an ideal dice, dice roll or the digits of pi, π exhibit statistical randomness. Statistical randomness ...
, to prevent manufacturers from making some high-payoff results impossible. Since these high payoffs have very low
probability Probability is the branch of mathematics Mathematics (from Greek: ) includes the study of such topics as numbers (arithmetic and number theory), formulas and related structures (algebra), shapes and spaces in which they are contained ...

probability
, a house bias can quite easily be missed unless the devices are checked carefully. Most jurisdictions that allow gambling require participants to be above a certain age. In some jurisdictions, the
gambling age The gambling age is the minimum age which one can legally gambling, gamble in a certain jurisdiction. In some of the countries, gambling is illegal, regardless of age, and in other countries, there are different age limits for different types of ga ...
differs depending on the type of gambling. For example, in many American states one must be over 21 to enter a casino, but may buy a lottery ticket after turning 18.


Insurance

Because contracts of
insurance Insurance is a means of protection from financial loss. It is a form of risk management Risk management is the identification, evaluation, and prioritization of risk In simple terms, risk is the possibility of something bad happening. ...

insurance
have many features in common with wagers, insurance contracts are often distinguished in law as agreements in which either party has an interest in the "bet-upon" outcome ''beyond'' the specific financial terms. e.g.: a "bet" with an insurer on whether one's house will burn down is not gambling, but rather ''insurance'' – as the homeowner has an obvious interest in the continued existence of his/her home ''independent of'' the purely financial aspects of the "bet" (i.e. the insurance policy). Nonetheless, both insurance and gambling contracts are typically considered
aleatory contractAn aleatory contract is a contract where an uncertain event determines the parties' rights and obligations. For example, gambling, wagering, or betting typically use aleatory contracts. Additionally, another very common type of aleatory contract is a ...
s under most legal systems, though they are subject to different types of regulation.


Asset recovery

Under
common law In law, common law (also known as judicial precedent or judge-made law, or case law Case law is the collection of past legal decisions written by courts and similar tribunal A tribunal, generally, is any person or institution with authority ...
, particularly
English Law English law is the common law In law, common law (also known as judicial precedent or judge-made law, or case law) is the body of law created by judges and similar quasi-judicial tribunals by virtue of being stated in written opinions. ''Blac ...
( English unjust enrichment), a gambling contract may not give a casino ''bona fide'' purchaser status, permitting the recovery of stolen funds in some situations. In ''
Lipkin Gorman v Karpnale Ltd is a foundational English unjust enrichment case. The House of Lords The House of Lords is the upper house of the Parliament of the United Kingdom. Membership is by appointment, heredity or official function. Like the House of Commons of ...
'', where a solicitor used stolen funds to gamble at a casino, the
House of Lords The House of Lords, formally The Right Honourable the Lords Spiritual and Temporal of the United Kingdom of Great Britain and Northern Ireland in Parliament assembled, is the of the . Membership is by , or . Like the , it meets in the . ar ...

House of Lords
overruled the High Court's previous verdict, adjudicating that the casino return the stolen funds less those subject to any
change of position Change of position is a defence to a claim in unjust enrichment which operates to reduce a defendant's liability to the extent to which his or her circumstances have changed as a consequence of an enrichment. History The historical core of the l ...
defence. U.S. Law precedents are somewhat similar. For
case law Case law is the collection of past legal decisions written by courts and similar tribunal A tribunal, generally, is any person or institution with authority to judge, adjudicate on, or determine claims or disputes—whether or not it is calle ...
on recovery of gambling losses where the loser had stolen the funds see "Rights of owner of stolen money as against one who won it in gambling transaction from thief". An interesting question is what happens when the person trying to make recovery is the gambler's spouse, and the money or property lost was either the spouse's, or was
community property Community property (United States) also called Community of Property (South Africa) is a marital property regime Matrimonial regimes, or marital property systems, are systems of property ownership between spouses providing for the creation or absen ...
. This was a minor plot point in a
Perry Mason Perry Mason is a fictional character, an American criminal defense lawyer who is the main character in works of detective fiction written by Erle Stanley Gardner. Perry Mason features in 82 novels and 4 short stories, all of which involve a clie ...
novel, ''The Case of the Singing Skirt'', and it cites an actual case ''Novo v. Hotel Del Rio''.


Religious views


Hinduism

Ancient
Hindu Hindus (; ) are persons who regard themselves as culturally, ethnically, or religiously adhering to aspects of Hinduism Hinduism () is an Indian religion Indian religions, sometimes also termed Dharmic religions or Indic re ...

Hindu
poems like the
Gambler's Lament The Gambler's lament (or "Gamester's lament") is one of the hymns of the Rigveda ) manuscript in Devanagari, early 19th century. After a scribal benediction ('), the first line has the first pada, RV 1.1.1a ('). The Vedic accent, pitch-accent ...
and the ''
Mahabharata The ''Mahābhārata'' (; sa, महाभारतम्, ', ) is one of the two major of , the other being the '. It narrates the struggle between two groups of cousins in the and the fates of the and the princes and their successors ...

Mahabharata
'' testify to the popularity of gambling among ancient Indians. However, the text ''
Arthashastra The ''Arthaśāstra'' ( sa, अर्थशास्त्र, ) is an ancient India According to consensus in modern genetics, anatomically modern humans first arrived on the Indian subcontinent from Africa between 73,000 and 55,000 ye ...

Arthashastra
'' (c. 4th century BC) recommends taxation and control of gambling.


Judaism

Ancient Jewish authorities frowned on gambling, even disqualifying professional gamblers from testifying in court.


Christianity


Catholicism

The Catholic Church holds the position that there is no moral impediment to gambling, so long as it is fair, all bettors have a reasonable chance of winning, there is no
fraud In law Law is a system A system is a group of Interaction, interacting or interrelated elements that act according to a set of rules to form a unified whole. A system, surrounded and influenced by its environment, is described by ...

fraud
involved, and the parties involved do not have actual knowledge of the outcome of the bet (unless they have disclosed this knowledge), and as long as the following conditions are met: the gambler can afford to lose the bet, and stops when the limit is reached, and the motivation is entertainment and not personal gain leading to the "love of money" or making a living. In general, Catholic bishops have opposed
casino A casino is a facility for certain types of gambling. Casinos are often built near or combined with hotels, resorts, restaurants, retail shopping, cruise ships, and other tourist attractions. Some casinos are also known for hosting live entertai ...

casino
gambling on the grounds that it too often tempts people into problem gambling or addiction, and has particularly negative effects on poor people; they sometimes also cite secondary effects such as increases in loan sharking, prostitution, corruption, and general public immorality. Some parish pastors have also opposed casinos for the additional reason that they would take customers away from church
bingo Bingo or B-I-N-G-O may refer to: Art, entertainment, and media Gaming * Bingo, a game using a printed ticket of numbers ** Bingo (British version) Bingo is a game of probability in which players mark off numbers on cards as the numbers are d ...
and annual festivals where games such as
blackjack Blackjack, formerly also Black Jack and Vingt-Un, is the American member of a global family of banking games known as Twenty-One (card game), Twenty-One, whose relatives include the British game of Pontoon (card game), Pontoon and the European ...

blackjack
,
roulette Roulette is a casino A casino is a facility for certain types of gambling. Casinos are often built near or combined with hotels, resorts, restaurants, retail shopping, cruise ships, and other tourist attractions. Some casinos are also known ...

roulette
,
craps Craps is a dice game Dice games are games that use or incorporate one or more dice as their sole or central component, usually as a random device. The following are games which largely, if not entirely, depend on dice: Collectible dice gam ...

craps
, and
poker Poker is a family of card games in which Card player, players betting (poker), wager over which poker hand, hand is best according to that specific game's rules in ways similar List of poker hands, to these rankings. While the earliest known f ...

poker
are used for fundraising. St. Thomas Aquinas wrote that gambling should be especially forbidden where the losing bettor is underage or otherwise not able to consent to the transaction. Gambling has often been seen as having social consequences, as satirized by
Balzac
Balzac
. For these social and religious reasons, most legal jurisdictions limit gambling, as advocated by
Pascal Pascal, Pascal's or PASCAL may refer to: People and fictional characters * Pascal (given name), including a list of people with the name * Pascal (surname), including a list of people and fictional characters with the name ** Blaise Pascal, French ...

Pascal
.


Protestantism

Gambling views among Protestants vary, with some either discouraging or forbidding their members from participation in gambling. Methodists, in accordance with the doctrine of
outward holiness Outward holiness, or external holiness, is a Wesleyan Wesleyan theology, otherwise known as Wesleyan–Arminian theology, or Methodist theology, is a theological Theology is the systematic study of the nature of the divine and, more broadly, ...
, oppose gambling which they believe is a sin that feeds on greed; examples are the
United Methodist Church The United Methodist Church (UMC) is a worldwide mainline Protestant The mainline Protestant churches (also called mainstream Protestant and sometimes oldline Protestant) are a group of Protestant denominations in the United States that contras ...

United Methodist Church
, the
Free Methodist Church The Free Methodist Church is a Methodist Methodism, also called the Methodist movement, is a group of historically related Christian denomination, denominations of Protestantism, Protestant Christianity which derive their doctrine of practice a ...
, the
Evangelical Wesleyan Church The Evangelical Wesleyan Church, formerly known as the Evangelical Wesleyan Church of North America, is a Methodist denomination in the conservative holiness movement. The formation of the Evangelical Wesleyan Church is a part of the history of M ...
, the
Salvation Army Salvation (from Latin: ''salvatio'', from ''salva'', 'safe, saved') is the state of being saved or protected from harm or a dire situation. In religion and theology, ''salvation'' generally refers to the deliverance of the soul from sin and its co ...

Salvation Army
, and the
Church of the Nazarene The Church of the Nazarene is an evangelical Christian denomination A Christian denomination is a distinct Religion, religious body within Christianity that comprises all Church (congregation), church congregations of the same kind, identifia ...
. Other Protestants that oppose gambling include many Mennonites, Quakers, the
Christian Reformed Church in North America The Christian Reformed Church in North America (CRCNA or CRC) is a Protestant Protestantism is a form of that originated with the 16th-century , a movement against what its followers perceived to be in the . Protestants originating in the ...
, the
Church of the Lutheran Confession The Church of the Lutheran Confession (CLC) is a conservative Christian religious body theologically adhering to confessional Lutheran Lutheranism is one of the largest branches of Protestantism that identifies with the teachings of Martin Lu ...
, the
Southern Baptist Convention The Southern Baptist Convention (SBC) is a Christian denomination A Christian denomination is a distinct Religion, religious body within Christianity that comprises all Church (congregation), church congregations of the same kind, identifia ...
, the
Assemblies of God The Assemblies of God (AG), officially the World Assemblies of God Fellowship, is a group of over 144 autonomous self-governing national groupings of churches that together form the world's largest Pentecostal Pentecostalism or Classical Pente ...
, and the
Seventh-day Adventist Church The Seventh-day Adventist Church is a which is distinguished by its observance of , the in Christian and the , as the , and its emphasis on the imminent (advent) of . The denomination grew out of the in the United States during the mid-1 ...
.


Other Christian denominations

Other churches that oppose gambling include the
Jehovah's Witnesses Jehovah's Witnesses is a millenarian Millenarianism (also millenarism), from Latin ''mīllēnārius'' "containing a thousand", is the belief by a religious Religion is a social system, social-cultural system of designated religious ...
,
The Church of Jesus Christ of Latter-day Saints The Church of Jesus Christ of Latter-day Saints, often informally known as the LDS Church or Mormon Church, is a nontrinitarian Nontrinitarianism is a form of Christianity Christianity is an Abrahamic religions, Abrahamic Monotheism ...
, the
Iglesia ni Cristo Iglesia ni Cristo (, abbreviated as INC; ; Spanish language, Spanish: ''Iglesia de Cristo'') is an independent Nontrinitarianism, Nontrinitarian Christianity in the Philippines, Christian Christian denomination, church, founded in 1913 and regi ...
, and the
Members Church of God International The Members Church of God International, abbreviated as MCGI, is an international Christianity, Christian religious organization with headquarters in the Philippines. It started as a small group with less than a hundred believers. It is popularly ...
.


Islam

Although different interpretations of Shari‘ah (Islamic Law) exist in the Muslim world, there is a consensus among the ''‘
Ulema In Islam, the ''ulama'' (; ar, علماء ', singular ', "scholar", literally "the learned ones", also spelled ''ulema''; feminine: ''alimah'' ingularand ''uluma'' lural are the guardians, transmitters, and interpreters of religious ...
’'' ( ar, عُـلـمـاء, Scholars (of
Islam Islam (; ar, اَلْإِسْلَامُ, al-’Islām, "submission o God Oh God may refer to: * An exclamation; similar to "oh no", "oh yes", "oh my", "aw goodness", "ah gosh", "ah gawd"; see interjection An interjection is a word or ex ...
)) that
gambling Gambling (also known as betting) is the wagering something of Value (economics), value ("the stakes") on an Event (probability theory), event with an uncertain outcome with the intent of winning something else of value. Gambling thus requires ...
is ''
haraam ''Haram'' (; ar, حَرَام, , ) is an Arabic term meaning ‘forbidden’. This may refer to: either something sacred Sacred describes something that is dedicated or set apart for the service or worship of a deity A deity or god is ...
'' ( ar, حَـرام, sinful or forbidden). In assertions made during its prohibition, Muslim jurists describe gambling as being both un-
Qur’an The Quran (, ; ar, القرآن, translit=al-Qurʼān, lit=the recitation, ), also romanized Qur'an or Koran, is the central religious text Religious texts are texts related to a religious tradition. They differ from literary texts by be ...
ic, and as being generally harmful to the Muslim
Ummah ' ( ar, أمة ) is an Arabic Arabic (, ' or , ' or ) is a Semitic language The Semitic languages are a branch of the Afroasiatic language family originating in the Middle East The Middle East is a list of transcontinental cou ...
( ar, أُمَّـة, Community). The Arabic terminology for gambling is ''
Maisir In , ( ar, ميسر, translit=maisîr, maysir, maisira or ''qimâr''), is absolutely forbidden ( ar, , script=Latn). ''Maisir'' is prohibited by Islamic law (') on the grounds that "the agreement between participants is based on immoral induce ...
''. In parts of the world that implement full Shari‘ah, such as
Aceh Aceh () is the westernmost province A province is almost always an administrative division Administrative division, administrative unitArticle 3(1). , country subdivision, administrative region, subnational entity, first-level subdivision ...
, punishments for Muslim gamblers can range up to 12 lashes or a one-year prison term and a fine for those who provide a venue for such practises. Some Islamic nations prohibit gambling; most other countries regulate it.


Bahá'í Faith

According to the Most Holy Book, paragraph 155, gambling is forbidden.


Types


Casino games

While almost any game can be played for money, and any game typically played for money can also be played just for fun, some games are generally offered in a
casino A casino is a facility for certain types of gambling. Casinos are often built near or combined with hotels, resorts, restaurants, retail shopping, cruise ships, and other tourist attractions. Some casinos are also known for hosting live entertai ...

casino
setting.


Table games


Electronic gaming

* Online roulette *
Pachinko is a type of mechanical game originating in Japan Japan ( ja, 日本, or , and formally ) is an in . It is situated in the northwest , and is bordered on the west by the , while extending from the in the north toward the and in ...

Pachinko
*
Sic Bo upright=1.3, The layout of a ''sic bo'' table Sic bo (骰寶), also known as tai sai (大細), dai siu (大小), big and small or hi-lo, is an unequal gambling, game of chance of ancient China, Chinese origin played with three dice. Grand hazard and ...
*
Slot machine A slot machine (American English American English (AmE, AE, AmEng, USEng, en-US), sometimes called United States English or U.S. English, is the set of varieties of the English language native to the United States. Currently, American ...

Slot machine
*
Video poker 250px, A video poker machine at Seven Feathers Casino. Video poker is a casino game based on five-card draw poker Poker is any of a number of card games in which players wager over which hand A hand is a prehensile, multi- fingered ap ...
* Video bingo *
Video poker 250px, A video poker machine at Seven Feathers Casino. Video poker is a casino game based on five-card draw poker Poker is any of a number of card games in which players wager over which hand A hand is a prehensile, multi- fingered ap ...


Other gambling

*
Bingo Bingo or B-I-N-G-O may refer to: Art, entertainment, and media Gaming * Bingo, a game using a printed ticket of numbers ** Bingo (British version) Bingo is a game of probability in which players mark off numbers on cards as the numbers are d ...
*
Keno Keno is a lottery A lottery is a form of gambling that involves the drawing of numbers at random for a prize. Some governments outlaw lotteries, while others endorse it to the extent of organizing a national or state lottery. It is common to ...

Keno


Non-casino games

Gambling games that take place outside of casinos include bingo (as played in the US and UK),
dead pool A dead pool, also known as a death pool, is a game of prediction which involves guessing when someone will die. Sometimes it is a bet where money is involved. Modern application In the early 20th century, dead pools were popular in dangerous sp ...
,
lotteries A lottery is a form of gambling that involves the drawing of numbers at random for a prize. Some governments outlaw lotteries, while others endorse it to the extent of organizing a national or state lottery. It is common to find some degree of r ...
,
pull-tab
pull-tab
games and
scratchcard A scratchcard (also called a scratch off, scratch ticket, scratcher, scratchum, scratch-it, scratch game, scratch-and-win, instant game or instant lottery. In England a scratchie, lot scrots, or scritchies. Mostly, a small card, often made of t ...

scratchcard
s, and
Mahjong Mahjong or mah-jongg (English pronunciation: , Mandarin Chinese: ) is a tile-based game A tile-based game is a game that uses tiles as one of the fundamental elements of play. Traditional tile-based games use small tiles as playing pieces ...
. Other non-casino gambling games include: * Non-casino
card game A card game is any game A game is a structured form of play Play most commonly refers to: * Play (activity), an activity done for enjoyment * Play (theatre), a work of drama Play may refer also to: Computers and technology * Googl ...

card game
s, including historical games like Basset, Ecarté,
Lansquenet Lansquenet is a banking game The following is a glossary of terms used in card games. Besides the terms listed here, there are thousands of common and uncommon slang terms. Terms in this glossary should not be game-specific (e.g. specific to Brid ...
and
Put
Put
. Technically, a gambling card game is one in which the cards are not actually played but simply bet on. *
Carnival Games ''Carnival Games'' (known in Europe and Australia as ''Carnival Funfair Games'') is a video game for Nintendo's Wii home video game console and the Nintendo DS handheld game console. It was published by Global Star Software, before it was absorbe ...
such as The Razzle or Hanky Pank *
Coin-tossing
Coin-tossing
games such as Head and Tail, Two-up* * Confidence tricks such as Three-card Monte or the Shell game * Dice game, Dice-based games, such as Backgammon, Liar's Dice, Liar's dice, Passe-dix, Hazard (game), Hazard, Threes (dice game), Threes, Pig (dice), Pig, or Mexico (game), Mexico (or Perudo); *Although coin tossing is not usually played in a casino, it has been known to be an official gambling game in some Australian casinos


Fixed-odds betting

Fixed-odds betting and Parimutuel betting frequently occur at many types of sporting events, and political elections. In addition many bookmakers offer fixed odds on a number of non-sports related outcomes, for example the direction and extent of movement of various stock market index, financial indices, the winner of television competitions such as ''Big Brother television program, Big Brother'', and election results. Interactive prediction markets also offer trading on these outcomes, with "shares" of results trading on an open market.


Parimutuel betting

One of the most widespread forms of gambling involves betting on horse racing, horse or greyhound racing. Wagering may take place through parimutuel betting, parimutuel pools, or bookmakers may take bets personally. Parimutuel wagers pay off at prices determined by support in the wagering pools, while bookmakers pay off either at the odds offered at the time of accepting the bet; or at the median odds offered by track bookmakers at the time the race started.


Sports betting

Betting on team sports has become an important service industry in many countries. For example, millions of people play the football pools every week in the United Kingdom. In addition to organized sports betting, both legal and illegal, there are many side-betting games played by casual groups of spectators, such as NCAA Men's Division I Basketball Championship, NCAA Basketball Tournament Bracket Pools, Super Bowl Squares, Fantasy sport, Fantasy Sports Leagues with monetary entry fees and winnings, and in-person spectator games like Moundball.


Virtual sports

Based on Sports Betting, Virtual Sports are fantasy and never played sports events made by software that can be played every time without wondering about external things like weather conditions.


Arbitrage betting

Arbitrage betting is a theoretically risk-free betting system in which every outcome of an event is bet upon so that a known profit will be made by the bettor upon completion of the event regardless of the outcome. Arbitrage betting is a combination of the ancient art of arbitrage trading and gambling, which has been made possible by the large numbers of bookmakers in the marketplace, creating occasional opportunities for arbitrage.


Other types of 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 occurs in particular when two people have opposing but strongly held views on truth or events. Not only do the parties hope to gain from the bet, they place the bet also to demonstrate their certainty about the issue. Some means of determining the issue at stake must exist. Sometimes the amount bet remains nominal, demonstrating the outcome as one of principle rather than of financial importance. Bet exchange, Betting exchanges allow consumers to both back and lay at odds of their choice. Similar in some ways to a stock exchange, a bettor may want to back a horse (hoping it will win) or lay a horse (hoping it will lose, effectively acting as bookmaker). Spread betting allows gamblers to wagering on the outcome of an event where the pay-off is based on the accuracy of the wager, rather than a simple "win or lose" outcome. For example, a wager can be based on the when a point is scored in the game in minutes and each minute away from the prediction increases or reduces the payout.


Staking systems

Many betting systems have been created in an attempt to "beat the house" but no system can make a mathematically unprofitable bet in terms of expected value profitable over time. Widely used systems include: * Card counting – Many systems exist for
blackjack Blackjack, formerly also Black Jack and Vingt-Un, is the American member of a global family of banking games known as Twenty-One (card game), Twenty-One, whose relatives include the British game of Pontoon (card game), Pontoon and the European ...

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to keep track of the ratio of ten values to all others; when this ratio is high the player has an advantage and should increase the amount of their bets. Keeping track of cards dealt confers an advantage in other games as well. * Due-column betting – A variation on fixed profits betting in which the bettor sets a target profit and then calculates a bet size that will make this profit, adding any losses to the target. * Fixed profits – the stakes vary based on the odds to ensure the same profit from each winning selection. * Fixed stakes – a traditional system of staking the same amount on each selection. * Kelly criterion, Kelly – the optimum level to bet to maximize your future median bank level. * Martingale (betting system), Martingale – A system based on staking enough each time to recover losses from previous bet(s) until one wins.


Other uses of the term

Many risk-return choices are sometimes referred to colloquially as "gambling." Whether this terminology is acceptable is a matter of debate: * Emotional or physical risk-taking, where the risk-return ratio is not quantifiable (e.g., skydiving, political campaign, campaigning for political office, asking someone for a date, etc.) * Insurance is a method of shifting risk from one party to another. Insurers use actuarial methods to calculate appropriate premiums, which is similar to calculating gambling odds. Insurers set their premiums to obtain a long term positive expected return in the same manner that professional gamblers select which bets to make. While insurance is sometimes distinguished from gambling by the requirement of an insurable interest, the equivalent in gambling is simply betting against one's own best interests (e.g., a sports coach betting against his own team to mitigate the financial repercussions of a losing season). * Situations where the possible return is of secondary importance to the wager/purchase (e.g. entering a raffle in support of a charitable gambling, charitable cause) Investments are also usually not considered gambling, although some investments can involve significant risk. Examples of investments include stocks, Bond (finance), bonds and real estate. Starting a business can also be considered a form of investment. Investments are generally not considered gambling when they meet the following criteria: * Economic utility * Positive expected returns (at least in the long term) * Underlying value independent of the risk being undertaken Some speculation, speculative investment activities are particularly risky, but are sometimes perceived to be different from gambling: * Foreign currency exchange (forex) transactions * Prediction markets * Securities derivative (finance), derivatives, such as Option (finance), options or Futures contract, futures, where the value of the derivative is dependent on the value of the underlying asset at a specific point in time (typically the derivative's associated expiration date)


Negative consequences

Studies show that though many people participate in gambling as a form of recreation or to earn an income, gambling, like any behavior involving variation in brain chemistry, can become a behavioral addiction. Behavioral addiction can occur with all the negative consequences in a person's life minus the physical issues faced by people who compulsively engage in drug and alcohol abuse. Problem gambling has multiple symptoms. Gamblers often gamble to try to win back money they have lost, and some gamble to relieve feelings of helplessness and anxiety. In the United Kingdom, the Advertising Standards Authority (United Kingdom), Advertising Standards Authority has censured several betting firms for advertisements disguised as news articles suggesting falsely that a person had cleared debts and paid for medical expenses by gambling online . The firms face possible fines. A 2020 study of 32 countries found that the greater the amount of gambling activity in a given country, the more volatile that country's stock market prices are.


Psychological biases

Gamblers exhibit a number of Cognitive bias, cognitive and Motivated reasoning, motivational biases that distort the perceived odds of events and that influence their preferences for gambles. * ''Preference for likely outcomes''. When gambles are selected through a choice process – when people indicate which gamble they prefer from a set of gambles (e.g., win/lose, over/under) – people tend to prefer to bet on the outcome that is more likely to occur. Bettors tend to prefer to bet on favorites in athletic competitions, and sometimes will accept even bets on favorites when offered more favorable bets on the less likely outcome (e.g., an underdog team). * ''Optimism bias, Optimism/Desirability Bias.'' Gamblers also exhibit optimism, overestimating the likelihood that desired events will occur. Fans of NFL underdog teams, for example, will prefer to bet on their teams at even odds than to bet on the favorite, whether the bet is $5 or $50. * ''Reluctance to bet against (hedge) desired outcomes.'' People are reluctant to bet against desired outcomes that are relevant to their identity. Gamblers exhibit reluctance to bet against the success of their preferred U.S. presidential candidates and Major League Baseball, National Football League, National Collegiate Athletic Association (NCAA) basketball, and NCAA hockey teams. More than 45% of NCAA fans in Studies 5 and 6, for instance, turned down a "free" real $5 bet against their team. From a psychological perspective, such a "Hedge (finance), hedge" creates an interdependence dilemma – a motivational conflict between a short-term monetary gain and the long-term benefits accrued from feelings of Social identity theory, identification with and loyalty to a position, person, or group whom the bettor desires to succeed. In economic terms, this conflicted decision can be modeled as a trade-off between the outcome utility gained by hedging (e.g., money) and the Signalling (economics), diagnostic costs it incurs (e.g., disloyalty). People make Self-perception theory, inferences about their beliefs and identity from their behavior. If a person is uncertain about an aspect of his or her identity, such as the extent to which he or she values a candidate or team, hedging may signal to him or her that he or she is not as committed to that candidate or team as he or she originally believed. If the diagnostic cost of this self-signal and the resulting identity change are substantial, it may outweigh the outcome utility of hedging, and he or she may reject even very generous hedges. * ''Ratio bias.'' Gamblers will prefer gambles with worse odds that are drawn from a large sample (e.g., drawing one red ball from an urn containing 89 red balls and 11 blue balls) to better odds that are drawn from a small sample (drawing one red ball from an urn containing 9 red balls and one blue ball). * ''Gambler's fallacy/positive recency bias.''


See also


References


Further reading

* Chambers, Kerry. ''Gambling for profit: Lotteries, gaming machines, and casinos in cross-national focus'' (U of Toronto press, 2011). * Ferentzy, Peter, and Nigel Turner. "Gambling and organized crime-A review of the literature." ''Journal of Gambling Issues'' 23 (2009): 111–155. * Ferentzy, Peter, and Nigel E. Turner. ''A history of problem gambling'' (Springer-Verlag, 2013
online
* Haller, Mark H. "The changing structure of American gambling in the twentieth century." ''Journal of Social Issues'' 35.3 (1979): 87-114. * Richard, Brian. "Diffusion of an economic development policy innovation: Explaining the international spread of casino gambling." ''Journal of Gambling Studies'' 26.2 (2010): 287–300.
Online
* Schwartz, David G. ''Roll The Bones: The History of Gambling'' (2006), scholarly history with global perspectiv
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External links

*
Center for Gaming Research
– at University of Nevada, Las Vegas
Institute for the Study of Gambling and Commercial Gaming
at the University of Nevada, Reno {{Authority control Gambling,