Betting, Gambling, And Gaming
The art of betting—although it is not really an art in the strictest sense of the word—is as old as civilization. In the ancient times, people were fond of betting on their favorite horse, athlete, or whatever they could bet on. The reason for this might have been due to the penchant of men for excitement, and they usually got this excitement and a sense of thrill from the prospect of waiting for the outcome of a bet. Some people however engaged in betting because they want to augment their incomes. It is a fact that you might double your money if you would engage in betting games, and for this reason, there were people who casually engaged in betting in the ancient times hoping that they would gain money from their bets if they won the game.
In modern times, sports betting is already part and parcel of modern human life. Every time a great sporting event is held, there would surely be a lot of betting going on at the side. But sports’ betting doesn’t happen only with great sporting events; even in simple sporting events, sports betting usually occur. Even in simple university games of basketball and other sports, betting often happens at the backside. People would bet on a certain team and would hope that team would win. If that team loses, those who bet on that team would certainly lose to the opposing bettors who bet on the opposing team.
Betting is tantamount to gambling. Gambling is the act by which you wager something such as money or material on something that is uncertain. Without that element of uncertainty, gambling and betting would never really be exciting. Hence, there should be an element of uncertainty in whatever wager, otherwise, it is no longer a real wager. Other conditions necessary to achieve a real betting game are the elements of chance, prize, and consideration.
There are sports betting games which are not sanctioned by the law. These betting games are illegal and if you are caught operating or engaging in such unlawful activities, you might be charged for such unlawful activities. However, there are sports betting which are sanctioned by the law. These activities that are permitted by the law are often referred to as gaming.
Gaming and gambling are not synonymous words. Yet, they have commonality in the sense that they almost have the same elements involved, that is, there is an element of chance, price, and consideration. The word “gaming” is also usually used to refer to computer gaming or online gaming.
Gaming and gambling are sometimes banned in some countries of the world. The reason for this is based on the fact that it engenders and is sometimes the source of the establishment of syndicates and other underworld activities. In other places, these activities are regulated by the government.
There are many forms of betting such as moneyline bets, spread betting, proposition bets, parlays, progressive parlays, teasers, future wagers, and many more. In the United States, there are only certain places wherein you can conduct a betting scheme. It is legal however to operate betting schemes in places such as Nevada, Montana, Delaware, and Oregon.