Gambling is considered to be the recreational as well as money wagering methods. A game of gambling involves a monetary or precious stake on which a chance is taken for an uncertain outcome. It is a game of judgement and luck. When the judgement and luck pays well to the gambler, he wins the prize. On the contrary, loses his once prized possession that he kept on stake. Gambling is a very addictive game which is as bad as drug intoxication or addiction. The only difference is that the physical health of the gambler is not damaged but his social and financial status reduces gradually. The psychological addiction to gambling can be very severe which can precipitate in harmful behavior. This judgmental chance of a game is permitted by law, but, it continues to be the matter of controversies and convulsions. While there are a few who find a great amount of interest in the game, but as a viewer away from the gambling world, the game is just a route towards the uncertain turning point of life. It can change your life from riches to rags or rags to riches.
Gambling is not just a game, rather it has now got an image of international commercial activity. When the game is played with monetary or material stake, the players may represent the stakes in the form of marble dice or trading cards. There are different types of games such as casino games, (table games, electronic gaming) or non casino gambling games. A game of gambling may be poker, lottery, horse race and other such games. These games have been part of gambling otherwise they are also played for fun. The consideration of the play is considered gambling when there are huge assets at stake and game highly uncertain. Gambling has been part of the human race from as far as the 4th century BCE. In the famous scripture of India, Arthashastra, the control of gambling and taxation are recommended. Even the Catholic Church supports a game of gambling when it is fair and allows a fair chance of winning to all the contenders. Otherwise the social consequences of these games are severely affecting the families and their economies adversely. The casinos nowadays include the games that have originated from countries like Europe- blackjack, roulette, craps, baccarat and China- Keno.
Casino gambling: As quoted earlier, table games, electronic games such as pachinko, video poker, slot machine, Pai Gow poker, Stud poker are a few types of casino gambling. While these games may be played within the casino, card games, carnival games, coin tossing games, confidence tricks, dice based games are a few other forms of gambling that are played beyond the walls of the casino. Whether it is a casino or non casino gambling, there are different methods of bids. Fixed odd betting, pari-mutuel betting, sports betting, arbitrage betting etc. the precious stakes that are the essential part of the gambling include card counting, due-column betting, fixed profits, fixed stakes, Kelly and martingale.