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GAMBLINGInternet Casino Gambling OnlineGambling News | Casino News
Gambling most often refers specifically to the wagering (or betting) of money on games of chance, or more broadly to engaging in any high-risk behavior. 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 is opposed by many religions (notably Islam and most interpretations of Christianity), and is either banned or heavily controlled in many jurisdictions (notably most of the United States). 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:
One can also bet with another person that a statement is true or that a specified event will happen 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 of money is a symbolic low value. Logically insurance ia a kind of bet, but the purpose is different. See also related topics: (This guide is licensed under the GNU Free Documentation License. It uses material from the Wikipedia.)
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Gambling (or betting) is any behavior involving risking money or property (making a wager or placing a stake) on the outcome of a game, contest, or other event in which the outcome of that activity depends partially or totally upon chance or upon one's ability to do something. Believers in the old saying about "never putting good money after bad money" offer this wisdom as a good way to keep gambling an entertaining pleasure and to stay away from gambling addiction. The saying suggests that after losing wagered money one should stop gambling and just accept the loss, instead of continuing to bet and losing even more. In extended usage, gambling may also refer to engaging in any high-risk behavior in which decisions occur based upon incomplete knowledge - for example, high-risk stock investments (see speculation), difficult and potentially costly business or non-business ventures, or even personal relationships. Gambling games may predate recorded history, with examples recorded in virtually all of the ancient civilizations. Legal aspectsBecause religious authorities generally frown on gambling to some extent, and because of various perceived social costs, most legal jurisdictions censure gambling to some extent. Islamic nations officially prohibit gambling; most other countries regulate it. In particular, in the majority of circumstances - and perhaps all cases - the law does not recognise wagers as contracts, and views any consequent losses as debts of honour, unenforceable by legal process. Thus organized crime often takes over the enforcement of large gambling debts, sometimes using violent methods. Because contracts of insurance have many features in common with wagers, legislation generally makes a distinction, typically defining any agreement in which either one of the parties has an interest in the outcome bet upon, beyond the specific financial terms, as a contract of insurance. Thus a bet on whether one's house will burn down becomes a contract of insurance, as one has an independent interest in the security of one's home. Furthermore, many jurisdictions, local as well as national, either ban or heavily control (license) gambling. Such regulation generally leads to gambling tourism and illegal gambling - the latter often under the auspices of organized crime. Such involvement frequently brings the activity under even more severe moral censure and leads to calls for greater regulation. Conversely, the close involvement of 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. Psychological aspectsThough many participate in gambling as a form of recreation or even as a means to gain an income, gambling, like any behavior which involves variation in brain chemistry, can become a psychologically addictive and harmful behavior in some people. Reinforcement phenomena may also make gamblers persist in gambling even after repeated losses. Because of the negative connotations of the word "gambling", casinos and race tracks often use the euphemism "gaming" to describe the recreational gambling activities they offer. The Russian writer Dostoevsky portrays in his short story The Gambler the psychological implications of gambling and how gambling can affect gamblers. He also associates gambling and the idea of "getting rich quick", suggesting that Russians may have a particular affinity for gambling. Dostoevsky shows the effect of betting money for the chance of gaining more in 19th-century Europe. The association between Russians and gambling has fed legends of the origins of Russian roulette. Help for addictive gamblersMany organizations exist to help individuals with a gambling addiction. They include Gamblers Anonymous (http://www.gamblersanonymous.org/). Types of gamblingCasino games"Beatable" casino gamesWith proper strategy, a smart player can create a positive mathematical expectation.
"Unbeatable" casino gamesAll players must lose in the long run, no matter what strategy they choose.
Non-casino gambling games
Fixed-odds gamblingFixed-odds gambling and Parimutuel betting frequently occur at or on the following kinds of events:
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 financial indices, whether snow will fall on Christmas Day in a given area, the winner of television competitions such as Big Brother, and so forth. Interactive trading exchanges also offer markets on these outcomes, with "shares" of results trading on an open market. See Sports betting below. Gambling on horse racesOne of the most widespread forms of gambling involves betting on horse races, most commonly on races between thoroughbreds or between standardbreds. Wagering may take place through 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. In Canada and the United States, the most common types of bet on horse races include:
Win, place and show wagers class as straight bets, and the remaining wagers as exotic bets. Bettors usually make multiple wagers on exotic bets. A box consists of a multiple wager in which punters bet all possible combinations of a group of horses in the same race. A key involves making a multiple wager with a single horse in one race bet in one position with all possible combinations of other selected horses in a single race. A wheel consists of betting all horses in one race of a bet involving two or more races. For example a 1-all daily double wheel bets the 1-horse in the first race with every horse in the second. People making straight bets commonly employ the strategy of an 'each way' bet. Here the bettor picks a horse and bets it will win, and makes an additional bet that it will show, so that theoretically if the horse runs third it will at least pay back the two bets. In Canada and the United States punters make exotic wagers on horses running at the same track on the same program. In the United Kingdom bookmakers offer exotic wagers on horses at different tracks. Probably the Yankee occurs most commonly: in this the bettor tries to pick the winner of four races. This bet also includes subsidiary wagers on smaller combinations of the chosen horses; for example, if only two of the four horses win, the bettor still collects for their double. A Trixie requires trying to pick three winners, and a Canadian or Super Yankee trying to pick five; these also include subsidiary bets. The term nap identifies the best bet of the day. A parlay (US) or accumulator (UK) consists of a series of bets in which bettors stake the winnings from one race on the next in order until either the bettor loses or the series completes successfully. (Similarly, greyhound racing offers a popular betting alternative to horse racing in many countries.) Sports bettingBetting on team sports has become an important service industry in many countries. For example, millions of Britons play the football pools every week. At sports betting, players may beat the bank. Most jurisdictions in Canada and the United States regard sports betting as illegal (Nevada offers full sports betting and the Canadian provinces offer Sport Select - government-run sports parlay betting). However, millions engage in sports betting despite its illegality. In Canada and the United States the most popular sports bets include:
In sports betting, a parlay involves a bet that two or more teams will win. In the United States gamblers have made the parlay card one of the most common forms of sports betting: here bettors wager on the outcomes of two or more games. If all their picks win, they collect. Most such betting occurs in workplaces. Other types of bettingOne 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. Staking systemsMany people have formulated staking systems in an attempt to "beat the bookie", but most still accept that no staking system can make an unprofitable system profitable over time. Widely-used systems include:
List of notable wagers
Resources
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