Gambling 101
Gambling is the wagering of money or something of value on an uncertain event. The wagerer is rewarded for predicting the outcome correctly, but the bet loses if he or she predicts the wrong outcome.
Most arguments against gambling focus on its negative consequences. This includes increased crime and family disruption. Usually, these arguments are based on the belief that gambling is a form of “pathological” behavior that is damaging to families. However, the reality is that most people gamble in their lives at some point, and many become compulsive gamblers. If you are having trouble with your gambling, or you think your gambling is causing a problem for you or a loved one, there are several options available.
One option is counseling. You can find free, confidential counselling through the National Gambling Helpline at 1-800-662-HELP (4357). Another option is group therapy. Counselors can help you understand the process of gambling, and help you make changes in your gambling habits.
Some jurisdictions have heavily regulated gambling. This has led to a close relationship between gambling organizations and governments. In some cases, the government has even allowed the establishment of commercial casinos. Others have banned or heavily restricted all forms of gambling.
Legal gambling in the United States has grown from approximately $2 billion in 1974 to $40 billion in 2009. During the late 20th century, state-operated lotteries expanded rapidly in the U.S., Europe, and Asia. Currently, ten percent of states allow some form of legal gambling. These include Indian casinos, horse racing tracks, and poker rooms.
While gambling has been illegal in many areas for many years, it has been legalized in more than a dozen states. More than one-half of American adults gambled last year, and the legal gambling industry is estimated to be worth more than $10 trillion a year.
The amount of money Americans legally wagered has risen by 2,800 percent from 1974 to 1994. It also surpassed the amount of money in recorded music to become the second largest source of revenue in the U.S. A computer analysis by the U.S. News & World Report revealed that, from 1990 to 1992, 55 counties in the United States had casinos, generating an additional 4 percent of new businesses. Additionally, legal gambling provides significant government revenues.
Another form of legal gambling is the stock market. Stock markets are a form of gambling, and a person needs knowledge and skill to play. Many companies have ties to the government, such as the California State Employees Retirement Fund and the U.S. Steel Pension Fund.
There are also other forms of gambling, such as bingo. Chance-based gambling is similar to playing the lottery. Like bingo, the person is expected to win something of value, and if the person does, they will receive money.
Despite these dangers, gambling has become an important commercial activity for many countries around the world. For example, cruise ships generate more money than music recordings, and a number of South American and European countries have organized football pools. Several Asian nations have football pools as well.
Gambling is the wagering of money or something of value on an uncertain event. The wagerer is rewarded for predicting the outcome correctly, but the bet loses if he or she predicts the wrong outcome. Most arguments against gambling focus on its negative consequences. This includes increased crime and family disruption. Usually, these arguments are…