by Jerry "Jet" Whittaker

May 20, 2007

Gambling

Gamble is a risky act or any kind of undertaking, with the help of an uncertain outcome. It can also be said as it is a kind of investment which is very risky or which gives better results into production from the great amount. Gambling has so many various as well as different meanings. The different meanings of Gambling are according to their culture as well as historical set of facts in which it is usable.

In so many societies, it can be as economic condition like playing money, or something kind of material which has a contingent or uncertain outcome which gives better result into the additional money or it can be in the way of material goods. Gambling can be either in the way of electronic or mechanical. Like lotteries, bingo, slot machines, the results or the sport events like horse racing or any kind of soccer matches result are not predictable. Some times, it gives the better outcome in very short period of time. So, within a short period any one can become rich, but, he/she has to take a risk for that purpose. Because, the result will be either positive or negative depending on the play. Taking a risk for gambling is the main criteria for it. After all, it is all over based on the faith of each one.

The upper authorities are generally not approves the gambling to the some level, because the gambling has some social issues for which the most legal jurisdiction are trying to give such limitation up to the some level. So, according to the legal jurisdiction, so many countries are trying to prohibit the gambling. It affects on so many national as well as local jurisdictions are trying to ban it or make control by providing license gambling.   

Gambling has some variables. The main variables of gambling are describe here. The first one is, how much play or bet is for the first stake. It can be either in the way of money or in material goods. The second one is the main quality of that particular event. Here is no use of anyone’s knowledge. So, it is unable to predict the future or the better results.

Expected values, which come from the sports or horse race or from any other source, might be positive or negative. The main mathematical calculation is based on the above variables. It has ability to show the scale for an particular wager.

Here are the some types of gambling. Like, Casino games, Beatable casino games- it includes professional as well as skilled player sharing great strategy for it. Unbeatable casino games, Non-casino gambling games, Fixed-odds gambling, Pari-mutuel betting, sports betting, and other one is Arbitrage betting. So, these are the various types of gambling. 

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