Let's begin with a definition. What is gambling? Gambling is betting on an element that may or might not happen down the road. Whenever 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. Many people will bet on anything. Remember the Seinfeld episode where Kramer bet on the arrival and departure times of airplanes at a brand new York City airport? How is gambling different from buying stocks and bonds? Stocks and bonds are thought about investments and not gambles because we can reasonably expect to come out ahead in the long term. They can be risky although not within the same sense as gambling. How is gambling distinctive from buying insurance? Once we buy coverage, toto we are betting on something that may or may not happen in the foreseeable future. We don't want to take the risk which it shall happen, so we pay somebody else (the insurance coverage company) to take the risk for us. When we buy homeowner's coverage, as an example, we have been betting our house will burn down and also the insurance coverage company is betting it will not. (Of course we hope we will not win this bet.) This is not gambling because the risk may be calculated. The insurance company uses all kinds of statistics to analyze the probability of our house burning down and fixes the premium we shall pay accordingly. Individuals have gambled since ancient times. On the flip side, society never approved of it because it was labeled an effort to get money without doing work for it. Society believed that hard-work should pave the way to financial success. It wasn't 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 despite the fact that we are unlikely to win in the long run? We gamble for the excitement of the uncertain outcome. Some gamble to try to make their financial dreams come true. Some individuals gamble for entertainment or enjoyment, for example a night out with friends at the casino or a bingo game for a charitable organization or perhaps a lottery ticket. Some think they can beat the odds and earn money out of gambling. There are people that gamble given that 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 even the thrill of a possible big win, or the adrenaline rush of taking a chance. Casinos allow us to socialize and pass some time. You'll find 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 type of entertainment but be cautious not to get addicted. Addiction may lead to obsession. You could lose control and become so fanatical you could ruin you life or suffer other catastrophic consequences. So if you gamble, make sure to set limits and keep to the limits you've got set.