The dictionary meaning of gambling is "any act of playing for stakes and hoping to win"
. Any person is said to gamble when he depends purely on his luck for losing money or belongings i.e. for winning and losing. A person needs to have a strong gambling system that would increase his chances of winning. Earlier it was considered as an illegal and a derogatory activity but with the change in scenario, gambling has come up as a multi-billion dollar industry and its growth is at its pinnacle. The funds raised from gambling might be used for various charity and health care purposes. Gambling is not restricted to casinos and race tracks; it has many other forms also.
Sports betting
Card games
Horse track gambling
Stock market
Video poker
Table games
Roulette
Lottery
Slots/keno
ELEMENTS OF GAMBLING :
While gambling, we put our heirlooms at risk.The aftermath of gambling is purely dependent on luck. A bet is irreversible. The most widely accepted myth about gambling is that any event that has not occurred recently becomes jammed and is more expected to occur. This is often known as "gambler's fallacy". Many of the gamblers have come up with betting systems that have attempted to get mileage out of the gambler's fallacy by betting in the opposite direction of recent outcomes. Out of the most played games Roulette is the most common and it is the one in which more people are likely to lose. In this game people are expected to put their bet on the desired number, color or combination(s) of the spinning wheel and if the rolling ball stops at their particular choice(s), they win. The Roulette strategy requires knowing about on which type of wheel to play. There are two types of wheels used: - American wheel and European wheel. If given a choice always play on the European wheel because it has slots for number 1-36 and a zero whereas American wheel has a slot for double zeroes, this makes the odds of winning amiss than on the European wheel. One of the most important Roulette tips is that the gambler should be aware that Roulette has a very high house edge. A person need not believe in the betting systems. Gambling has come up as a trend in the modern era but it has its own psychological aspects also.
Many people gamble just because they want to have an additional source of income. This might involves changes in brain chemistry and may imbibe destructive behavior in people. It is proven that gamblers continue this habit of gambling even after the repeated misses. A research activity has shown that we are introduced to gambling activities as soon as 10 years of age. Maximum number of people does not have any problems while playing these games because they play for fun, once they are over with it; they get back to their daily routine. In these cases people know what they are going to lose at max.