Gambling is a form of wagering that involves placing a value on an uncertain event. The goal is to win a prize or avoid losing money. But before you go ahead and start gambling, you need to know how to make a smart decision. Consider the risk and prize before you place a wager.
Gambling is a huge global industry. In 2009, the legal gambling market was valued at $335 billion. There are many different forms of gambling. The first is the most common form of gambling – the betting of money on a game. In addition to money, people can gamble with non-monetary items. For example, players of a marbles game might stake marbles for a winning hand. In collectible card games such as Magic: The Gathering, players can stake cards and collectible game pieces.
Gambling is often an escape from boredom, so it is important to discuss with children about the odds of winning. Explain to them that the chances of winning are very low and compare them to other forms of entertainment. A person’s chance of winning the lottery is 1 in 15 million. Similarly, the chances of winning a game of chance are one in 300,000 to one in 15 million. It is also important to note that the gambling industry is in business to make money. The less exposure a child receives to gambling, the less likely they are to develop a problem.
Some people develop compulsive gambling and may need help to stop. If you have an addictive gambling problem, you should consider contacting a therapist. Counselling services are confidential, free and available round the clock.