Gambling, the betting or staking of something of value, with consciousness of risk and hope of gain, on the outcome of a game, a contest, or an uncertain event whose result may be determined by chance or accident or have an unexpected result by reason of the bettors miscalculation.
The outcomes of gambling games may be determined by chance alone, as in the purely random activity of a tossed pair of dice or of the ball on a roulette wheel, or by physical skill, training, or prowess in athletic contests, or by a combination of strategy and chance. The rules by which gambling games are played sometimes serve to confuse the relationship between the components of the game, which depend on skill and chance, so that some players may be able to manipulate the game to serve their own interests. Thus, knowledge of the game is useful for playing poker or betting on horse racing but is of very little use for purchasing lottery tickets or playing slot machines.
A gambler may participate in the game itself while betting on its outcome (card games, craps), or he may be prevented from any active participation in an event in which he has a stake (professional athletics, lotteries). Some games are dull or nearly meaningless without the accompanying betting activity and are rarely played unless wagering occurs (coin tossing, poker, dice games, lotteries). In other games betting is not intrinsically part of the game, and the association is merely conventional and not necessary to the performance of the game itself (horse racing, football pools). Commercial establishments such as casinos and racetracks may organize gambling when a portion of the money wagered by patrons can be easily acquired by participation as a favoured party in the game, by rental of space, or by withdrawing a portion of the betting pool. Some activities of very large scale (horse racing, lotteries) usually require commercial and professional organizations to present and maintain them efficiently.
Read More on This Topic
sports: Gambling and sports
One of the most popular forms of gambling is wagering on sports, which taps into the passion of sports fans. A bet placed on a race or a game allows fans to prove their knowledge of a sport or to show their
A rough estimate of the amount of money legally wagered annually in the world is about $10 trillion (illegal gambling may exceed even this figure). In terms of total turnover, lotteries are the leading form of gambling worldwide. State-licensed or state-operated lotteries expanded rapidly in Europe and the United States during the late 20th century and are widely distributed throughout most of the world. Organized football (soccer) pools can be found in nearly all European countries, several South American countries, Australia, and a few African and Asian countries. Most of these countries also offer either state-organized or state-licensed wagering on other sporting events.
Betting on horse racing is a leading form of gambling in English-speaking countries and in France. It also exists in many other countries. Wherever horse racing is popular, it has usually become a major business, with its own newspapers and other periodicals, extensive statistical services, self-styled experts who sell advice on how to bet, and sophisticated communication networks that furnish information to betting centres, bookmakers and their employees, and workers involved with the care and breeding of horses. The same is true, to a smaller extent, of dog racing. The emergence of satellite broadcasting technology has led to the creation of so-called off-track betting facilities, in which bettors watch live telecasts at locations away from the racetrack.
Casinos or gambling houses have existed at least since the 17th century. In the 20th century they became commonplace and assumed almost a uniform character throughout the world. In Europe and South America they are permitted at many or most holiday resorts but not always in cities. In the United States casinos were for many years legal only in Nevada and New Jersey and, by special license, in Puerto Rico, but most other states now allow casino gambling, and betting facilities operate clandestinely throughout the country, often through corruption of political authorities. Roulette is one of the principal gambling games in casinos throughout France and Monaco and is popular throughout the world. Craps is the principal dice game at most American casinos. Slot and video poker machines are a mainstay of casinos in the United States and Europe and also are found in thousands of private clubs, restaurants, and other establishments; they are also common in Australia. Among the card games played at casinos, baccarat, in its popular form chemin de fer, has remained a principal gambling game in Great Britain and in the continental casinos most often patronized by the English at Deauville, Biarritz, and the Riviera resorts. Faro, at one time the principal gambling game in the United States, has become obsolete. Blackjack is the principal card game in American casinos. The French card game trente et quarante (or rouge et noir) is played at Monte-Carlo and a few other continental casinos. Many other games may also be found in some casinosfor example, sic bo, fan-tan, and pai-gow poker in Asia and local games such as boule, banca francesa, and kalooki in Europe.
At the start of the 21st century, poker exploded in popularity, principally through the high visibility of poker tournaments broadcast on television and the proliferation of Internet playing venues. Another growing form of Internet gambling is the so-called betting exchangesInternet Web sites on which players make wagers with one another, with the Web site taking a small cut of each wager in exchange for organizing and handling the transaction.
In a wide sense of the word, stock markets may also be considered a form of gambling, albeit one in which skill and knowledge on the part of the bettors play a considerable part. This also goes for insurance; paying the premium on ones life insurance is, in effect, a bet that one will die within a specified time. If one wins (dies), the win is paid out to ones relatives, and if one loses (survives the specified time), the wager (premium) is kept by the insurance company, which acts as a bookmaker and sets the odds (payout ratios) according to actuarial data. These two forms of gambling are considered beneficial to society, the former acquiring venture capital and the latter spreading statistical risks.
Events or outcomes that are equally probable have an equal chance of occurring in each instance. In games of pure chance, each instance is a completely independent one; that is, each play has the same probability as each of the others of producing a given outcome. Probability statements apply in practice to a long series of events but not to individual ones. The law of large numbers is an expression of the fact that the ratios predicted by probability statements are increasingly accurate as the number of events increases, but the absolute number of outcomes of a particular type departs from expectation with increasing frequency as the number of repetitions increases. It is the ratios that are accurately predictable, not the individual events or precise totals.
The probability of a favourable outcome among all possibilities can be expressed: probability (p) equals the total number of favourable outcomes (f) divided by the total number of possibilities (t), or p = f/t. But this holds only in situations governed by chance alone. In a game of tossing two dice, for example, the total number of possible outcomes is 36 (each of six sides of one die combined with each of six sides of the other), and the number of ways to make, say, a seven is six (made by throwing 1 and 6, 2 and 5, 3 and 4, 4 and 3, 5 and 2, or 6 and 1); therefore, the probability of throwing a seven is 6/36, or 1/6.
In most gambling games it is customary to express the idea of probability in terms of odds against winning. This is simply the ratio of the unfavourable possibilities to the favourable ones. Because the probability of throwing a seven is 1/6, on average one throw in six would be favourable and five would not; the odds against throwing a seven are therefore 5 to 1. The probability of getting heads in a toss of a coin is 1/2; the odds are 1 to 1, called even. Care must be used in interpreting the phrase on average, which applies most accurately to a large number of cases and is not useful in individual instances. A common gamblers fallacy, called the doctrine of the maturity of the chances (or the Monte-Carlo fallacy), falsely assumes that each play in a game of chance is dependent on the others and that a series of outcomes of one sort should be balanced in the short run by the other possibilities. A number of systems have been invented by gamblers largely on the basis of this fallacy; casino operators are happy to encourage the use of such systems and to exploit any gamblers neglect of the strict rules of probability and independent plays. An interesting example of a game where each play is dependent on previous plays, however, is blackjack, where cards already dealt from the dealing shoe affect the composition of the remaining cards; for example, if all of the aces (worth 1 or 11 points) have been dealt, it is no longer possible to achieve a natural (a 21 with two cards). This fact forms the basis for some systems where it is possible to overcome the house advantage.
In some games an advantage may go to the dealer, the banker (the individual who collects and redistributes the stakes), or some other participant. Therefore, not all players have equal chances to win or equal payoffs. This inequality may be corrected by rotating the players among the positions in the game. Commercial gambling operators, however, usually make their profits by regularly occupying an advantaged position as the dealer, or they may charge money for the opportunity to play or subtract a proportion of money from the wagers on each play. In the dice game of crapswhich is among the major casino games offering the gambler the most favourable oddsthe casino returns to winners from 3/5 of 1 percent to 27 percent less than the fair odds, depending on the type of bet made. Depending on the bet, the house advantage (vigorish) for roulette in American casinos varies from about 5.26 to 7.89 percent, and in European casinos it varies from 1.35 to 2.7 percent. The house must always win in the long run. Some casinos also add rules that enhance their profits, especially rules that limit the amounts that may be staked under certain circumstances.
Many gambling games include elements of physical skill or strategy as well as of chance. The game of poker, like most other card games, is a mixture of chance and strategy that also involves a considerable amount of psychology. Betting on horse racing or athletic contests involves the assessment of a contestants physical capacity and the use of other evaluative skills. In order to ensure that chance is allowed to play a major role in determining the outcomes of such games, weights, handicaps, or other correctives may be introduced in certain cases to give the contestants approximately equal opportunities to win, and adjustments may be made in the payoffs so that the probabilities of success and the magnitudes of the payoffs are put in inverse proportion to each other. Pari-mutuel pools in horse-race betting, for example, reflect the chances of various horses to win as anticipated by the players. The individual payoffs are large for those bettors whose winning horses are backed by relatively few bettors and small if the winners are backed by a relatively large proportion of the bettors; the more popular the choice, the lower the individual payoff. The same holds true for betting with bookmakers on athletic contests (illegal in most of the United States but legal in England). Bookmakers ordinarily accept bets on the outcome of what is regarded as an uneven match by requiring the side more likely to win to score more than a simple majority of points; this procedure is known as setting a point spread. In a game of American or Canadian football, for example, the more highly regarded team would have to win by, say, more than 10 points to yield an even payoff to its backers.
Unhappily, these procedures for maintaining the influence of chance can be interfered with; cheating is possible and reasonably easy in most gambling games. Much of the stigma attached to gambling has resulted from the dishonesty of some of its promoters and players, and a large proportion of modern gambling legislation is written to control cheating. More laws have been oriented to efforts by governments to derive tax revenues from gambling than to control cheating, however.
Gambling is one of mankinds oldest activities, as evidenced by writings and equipment found in tombs and other places. It was regulated, which as a rule meant severely curtailed, in the laws of ancient China and Rome as well as in the Jewish Talmud and by Islam and Buddhism, and in ancient Egypt inveterate gamblers could be sentenced to forced labour in the quarries. The origin of gambling is considered to be divinatory: by casting marked sticks and other objects and interpreting the outcome, man sought knowledge of the future and the intentions of the gods. From this it was a very short step to betting on the outcome of the throws. The Bible contains many references to the casting of lots to divide property. One well-known instance is the casting of lots by Roman guards (which in all likelihood meant that they threw knucklebones) for the garment of Jesus during the Crucifixion. This is mentioned in all four of the Gospels and has been used for centuries as a warning example by antigambling crusaders. However, in ancient times casting lots was not considered to be gambling in the modern sense but instead was connected with inevitable destiny, or fate. Anthropologists have also pointed to the fact that gambling is more prevalent in societies where there is a widespread belief in gods and spirits whose benevolence may be sought. The casting of lots, not infrequently dice, has been used in many cultures to dispense justice and point out criminals at trialsin Sweden as late as 1803. The Greek word for justice, dike, comes from a word that means to throw, in the sense of throwing dice.
European history is riddled with edicts, decrees, and encyclicals banning and condemning gambling, which indirectly testify to its popularity in all strata of society. Organized gambling on a larger scale and sanctioned by governments and other authorities in order to raise money began in the 15th century with lotteriesand centuries earlier in China with keno. With the advent of legal gambling houses in the 17th century, mathematicians began to take a serious interest in games with randomizing equipment (such as dice and cards), out of which grew the field of probability theory.
Apart from forerunners in ancient Rome and Greece, organized sanctioned sports betting dates back to the late 18th century. About that time there began a gradual, albeit irregular, shift in the official attitude toward gambling, from considering it a sin to considering it a vice and a human weakness and, finally, to seeing it as a mostly harmless and even entertaining activity. Additionally, the Internet has made many forms of gambling accessible on an unheard-of scale. By the beginning of the 21st century, approximately four out of five people in Western nations gambled at least occasionally. The swelling number of gamblers in the 20th century highlighted the personal and social problem of pathological gambling, in which individuals are unable to control or limit their gambling. During the 1980s and 90s, pathological gambling was recognized by medical authorities in several countries as a cognitive disorder that afflicts slightly more than 1 percent of the population, and various treatment and therapy programs were developed to deal with the problem.
View post:
- Gambling Addiction and Problem Gambling: Learn How to Stop ... [Last Updated On: December 12th, 2016] [Originally Added On: December 12th, 2016]
- Remote Gambling Association (RGA) [Last Updated On: December 16th, 2016] [Originally Added On: December 16th, 2016]
- William Hill Casino Club - Up To 150 Casino Bonus [Last Updated On: December 19th, 2016] [Originally Added On: December 19th, 2016]
- Gambling - The New York Times [Last Updated On: December 31st, 2016] [Originally Added On: December 31st, 2016]
- Trusted Online Gambling Sites Since 1996 - Online.Gambling.org [Last Updated On: January 7th, 2017] [Originally Added On: January 7th, 2017]
- Casino Gambling Web | Best Online Gambling News and Casinos ... [Last Updated On: January 11th, 2017] [Originally Added On: January 11th, 2017]
- Gambling Addiction and Problem Gambling - helpguide.org [Last Updated On: January 15th, 2017] [Originally Added On: January 15th, 2017]
- Industry: Crackdown on illegal gambling in the Philippines now ... - GamingTodaySlotsToday [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- Military should screen for gambling disorder, GAO says - Virginian-Pilot [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- Gambling with people's autonomy | Liberties | Risk | spiked - Spiked [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- Bill introduced to lower age for legal gambling in Nevada - Las Vegas Review-Journal [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- FIFA YouTuber Pleads Guilty To Gambling Charges [UPDATE] - GameSpot [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- Gambling Stock Roundup: Macau Sales Rise Again in January, Nevada Records a Drop in December - Yahoo Finance [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- Super Bowl sets gambling record at Nevada sports books - Reuters [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- Older gamblers face worse odds for addiction - Times Herald-Record [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- How to Handle Gambling Wins and Losses This Tax Season - TheStreet.com [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- GAO report recommends military members be screened for ... - wtkr.com [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- The Newest Challenge in Gambling: Finding Growth - Motley Fool [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- Raising a question about gambling prohibition - Dothan Eagle [Last Updated On: February 8th, 2017] [Originally Added On: February 8th, 2017]
- A Creepy Dude Is Your Inner Gambling Addict in These Horrifying PSAs From Tom Tagholm - Fishbowl NY (blog) [Last Updated On: February 8th, 2017] [Originally Added On: February 8th, 2017]
- Super Bowl Betting Tally Helps Make the Case for Legalized Sports Gambling - TheStreet.com [Last Updated On: February 8th, 2017] [Originally Added On: February 8th, 2017]
- MLB commissioner admits the league is rethinking its stance on gambling - FOXSports.com [Last Updated On: February 8th, 2017] [Originally Added On: February 8th, 2017]
- Why I love fake gambling and in-game casinos according to a psychologist - PC Gamer [Last Updated On: February 8th, 2017] [Originally Added On: February 8th, 2017]
- YouTubers fined for running illegal FIFA 17 gambling site - Ars Technica [Last Updated On: February 8th, 2017] [Originally Added On: February 8th, 2017]
- Deducting Gambling Losses on Your Taxes - TheStreet.com [Last Updated On: February 9th, 2017] [Originally Added On: February 9th, 2017]
- Gambling pot grows for Madison County - Utica Observer Dispatch [Last Updated On: February 9th, 2017] [Originally Added On: February 9th, 2017]
- How Vietnam Is Changing Its Gambling Rules To Win Foreign Investment - Forbes [Last Updated On: February 9th, 2017] [Originally Added On: February 9th, 2017]
- No truth to alleged link between missing Spencerport teen, illegal gambling - 13WHAM-TV [Last Updated On: February 9th, 2017] [Originally Added On: February 9th, 2017]
- The world's biggest gamblers - The Economist (blog) [Last Updated On: February 9th, 2017] [Originally Added On: February 9th, 2017]
- Idaho House Panel Introduces Bill Limiting Indian Gambling - Boise State Public Radio [Last Updated On: February 9th, 2017] [Originally Added On: February 9th, 2017]
- Pennsylvania Omnibus Gambling Bill Presented to House - Casino.Org News [Last Updated On: February 10th, 2017] [Originally Added On: February 10th, 2017]
- Gamblers caught in Hat Yai open-air casino bust | Bangkok Post: news - Bangkok Post [Last Updated On: February 10th, 2017] [Originally Added On: February 10th, 2017]
- Men Fined Over FIFA Gambling Operation - Card Player - CardPlayer.com [Last Updated On: February 10th, 2017] [Originally Added On: February 10th, 2017]
- Rob Manfred may change MLB's stance on gambling - SB Nation [Last Updated On: February 10th, 2017] [Originally Added On: February 10th, 2017]
- Do you have a mobile gambling/gaming problem? - KMTV [Last Updated On: February 10th, 2017] [Originally Added On: February 10th, 2017]
- OUR VIEW: Transparency needed in gambling operations - Pacific Daily News [Last Updated On: February 11th, 2017] [Originally Added On: February 11th, 2017]
- New York State transformation into the gambling big leagues nearly complete with opening of newest casino - The Daily Freeman [Last Updated On: February 11th, 2017] [Originally Added On: February 11th, 2017]
- Kenya: Gambling in Kenya Gets Out of Hand - AllAfrica.com [Last Updated On: February 11th, 2017] [Originally Added On: February 11th, 2017]
- Gambling Responsibly - New York Times [Last Updated On: February 11th, 2017] [Originally Added On: February 11th, 2017]
- Duterte targets illegal gambling in the Philippines - Yahoo News [Last Updated On: February 12th, 2017] [Originally Added On: February 12th, 2017]
- US Grabs Biggest Global Gambling Industry Win Share in 2016 - Casino News Daily [Last Updated On: February 12th, 2017] [Originally Added On: February 12th, 2017]
- UFC 208 odds, gambling guide - MMA Fighting [Last Updated On: February 12th, 2017] [Originally Added On: February 12th, 2017]
- Calendar urges gamblers to cut their losses l Dayton, Ohio - Dayton Daily News [Last Updated On: February 12th, 2017] [Originally Added On: February 12th, 2017]
- Gambling Manga "Akagi" Begins Countdown to Conclusion - Crunchyroll News [Last Updated On: February 12th, 2017] [Originally Added On: February 12th, 2017]
- Football's gambling problem: You better, you better, you bet - Football365.com [Last Updated On: February 13th, 2017] [Originally Added On: February 13th, 2017]
- States are gambling with law enforcement safety - The Hill (blog) [Last Updated On: February 13th, 2017] [Originally Added On: February 13th, 2017]
- AFL's gambling ads concern for Cats star - Wide World of Sports [Last Updated On: February 13th, 2017] [Originally Added On: February 13th, 2017]
- Celeb Gambling Ring Members Fear They've Been CAUGHT On Wiretaps Making Illegal Bets, Source Claims - Radar Online [Last Updated On: February 13th, 2017] [Originally Added On: February 13th, 2017]
- Highway Patrol: Raid of Warren bar uncovers illegal gambling - WKBN.com [Last Updated On: February 13th, 2017] [Originally Added On: February 13th, 2017]
- Scary graph shows how Australians are the biggest losers - NEWS.com.au [Last Updated On: February 13th, 2017] [Originally Added On: February 13th, 2017]
- Bato: War on illegal gambling won't be bloody - Philippine Star [Last Updated On: February 13th, 2017] [Originally Added On: February 13th, 2017]
- Last holdout Lakewood to vote on repealing video gambling ban - Northwest Herald [Last Updated On: February 14th, 2017] [Originally Added On: February 14th, 2017]
- AFL's gambling ads a concern for Geelong Cats star Harry Taylor - The Age [Last Updated On: February 14th, 2017] [Originally Added On: February 14th, 2017]
- Online Casinos Generate A Third Of UK Gambling Dollars - CardPlayer.com [Last Updated On: February 14th, 2017] [Originally Added On: February 14th, 2017]
- Darlington deputies bust gambling house in Hartsville | News ... - SCNow [Last Updated On: February 14th, 2017] [Originally Added On: February 14th, 2017]
- Kim Jong Un's gambling half-brother reportedly assassinated - CBS News [Last Updated On: February 14th, 2017] [Originally Added On: February 14th, 2017]
- BitcoinCasino.us Ensures Instant Payouts and Responsible Gambling - newsBTC [Last Updated On: February 15th, 2017] [Originally Added On: February 15th, 2017]
- Gambling operators are cashing in on teens' addiction to online games - The Canberra Times [Last Updated On: February 15th, 2017] [Originally Added On: February 15th, 2017]
- Americans Lost $116.9B Gambling In 2016: Report - CardPlayer.com [Last Updated On: February 15th, 2017] [Originally Added On: February 15th, 2017]
- Levine: Rick Hahn, White Sox Gambling On Right Trades At Right Time - CBS Local [Last Updated On: February 15th, 2017] [Originally Added On: February 15th, 2017]
- Wesfarmers considers pokies exit in bid to tackle problem gambling - ABC Online [Last Updated On: February 15th, 2017] [Originally Added On: February 15th, 2017]
- Massive felony gambling raid in Marietta | WAGA - FOX 5 Atlanta [Last Updated On: February 15th, 2017] [Originally Added On: February 15th, 2017]
- 'War on gambling' starts with small fry - Inquirer.net [Last Updated On: February 16th, 2017] [Originally Added On: February 16th, 2017]
- Edgeless Casino Introduces Revolutionary Transparent 0% House Edge Online Gambling - newsBTC [Last Updated On: February 16th, 2017] [Originally Added On: February 16th, 2017]
- FF12: When is gambling illegal in Kansas? - KWCH [Last Updated On: February 16th, 2017] [Originally Added On: February 16th, 2017]
- Osage woman accused of stealing, gambling mother's money - Waterloo Cedar Falls Courier [Last Updated On: February 16th, 2017] [Originally Added On: February 16th, 2017]
- 'Operation Parlay' Leads To Gambling Raid, Arrest - Patch.com [Last Updated On: February 16th, 2017] [Originally Added On: February 16th, 2017]
- Pete Rose defends legal gambling: 'Who am I hurting?' - Yahoo Sports - Yahoo Sports [Last Updated On: February 16th, 2017] [Originally Added On: February 16th, 2017]
- Cops bust alleged gambling ring being run out of Cobb storefronts - Atlanta Journal Constitution [Last Updated On: February 16th, 2017] [Originally Added On: February 16th, 2017]
- Dunlap: State Rep. Gets It Right With Sports Gambling - CBS Local [Last Updated On: February 16th, 2017] [Originally Added On: February 16th, 2017]
- Gambling Addiction Treatment Center, Rehab - Non Gambler [Last Updated On: February 16th, 2017] [Originally Added On: February 16th, 2017]
- Problem Gambling Online Resources - Drugfreeinfo.org [Last Updated On: February 16th, 2017] [Originally Added On: February 16th, 2017]
- Attleboro seeks gambling grant for new dispatch center - The Sun Chronicle [Last Updated On: February 17th, 2017] [Originally Added On: February 17th, 2017]
- House gambling bill teed up for next week - SaintPetersBlog (blog) [Last Updated On: February 17th, 2017] [Originally Added On: February 17th, 2017]
- Firms oppose Bill regulating gambling - Daily Nation [Last Updated On: February 17th, 2017] [Originally Added On: February 17th, 2017]
- Tim Simona faces NRL deregistration after alleged breaches of gambling rules - The Sydney Morning Herald [Last Updated On: February 17th, 2017] [Originally Added On: February 17th, 2017]
- Washington State Gambling Commission [Last Updated On: February 17th, 2017] [Originally Added On: February 17th, 2017]
- Online Casino USA Friendly Online Casinos for 2017 [Last Updated On: February 17th, 2017] [Originally Added On: February 17th, 2017]
- Records: 70 gambling machines seized, two arrested in Alamo raid ... - KGBT-TV [Last Updated On: February 18th, 2017] [Originally Added On: February 18th, 2017]
- Florida House Goes Conservative on Gambling Expansion with New ... - Casino News Daily [Last Updated On: February 18th, 2017] [Originally Added On: February 18th, 2017]