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Best Gambling Games
by Jerry "Jet"
Whittaker
May 8, 2006
Gambling has had many different meanings depending on
the cultural and historical context in which it is used.
Currently, in western society, it generally has an
economic definition and meaning and typically refers to
"wagering money or something of material value on
something with an uncertain outcome in hope of winning
additional money or material goods". Furthermore:The
outcome of the wager is typically evident within a short
period of time the primary intent of the bet is to win
additional money or material goods the emotional or
physical risk-taking where what is being risked is not
money or material goods (e.g., skydiving, running for
office, asking someone for a date, etc.) buying
insurance, as the primary intent of the purchase is to
protect against loss, rather than to collect or win all
the forms of investment stock market, real estate with
positive returns and economic utility starting a new
business, as time and effort are also being wagered and
the outcome is not determined in a short period of time
situations where the possibility of winning additional
money or material goods is a secondary or minor reason
for the wager, purchase for e.g., buying a raffle ticket
to support a worthy cause.
Legal aspects
The religious authorities are generally on the
gambling to
some extent, and because of various perceived
social
costs, the most legal jurisdictions gambling
to some extent. The nations are officially prohibited
gambling and the most other countries
regulate it. In particular, 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 it is
organized crime often takes over the
enforcement of large gambling debts, sometimes using the
violent methods. The 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. Rather it is a bet on whether one's house
will burn down becomes a contract of insurance, so one
has an independent interest in the security of one's
home. For more there are, many jurisdictions, local as
well as national, either ban or heavily control license
of gambling. Such regulation generally leads to
gambling tourism and illegal gambling, the
latter often under the auspices of
organized crime.
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