Gambling is a contest where a player bets on the result of an event. The bet is generally in the form of money. The outcome is dependent on the predictability of the event. The rules and the amount of money bet are decided on before the event happens.
There are three variables common to all gambling.
- The amount of the bet.
- The predictability of the outcome of the event.
- The odds agreed upon by the players.
There are many types of gambling. Casino games, parimutuel games, sports betting and state lotteries are some of the most common forms of gambling.
Generally, the odds are not in favor of the gambler.
References[change | change source]
- "The Effects of Gambling". ProblemGambling.ca. 4 April 2016. Retrieved 12 November 2016.
- "Canadian Regulations, Restrictions and Problem Gambling Assistance". SlotsOnline Canada. Retrieved 23 July 2016.
- "Gambling Commissions & Authorities - CasinoQuest.ca". CasinoQuest Canada. Retrieved 23 July 2016.
- "Illegal Betting in Australia Due for Clampdown by Authorities: 2001 Interactive Gambling Act". Australian Online Casino. 19 October 2015. Retrieved 23 July 2016.