Gambling, or the act of wagering money on an event with an uncertain outcome is a popular activity across the globe. It’s also one that’s been around for centuries, and has evolved in a number of ways.
Essentially, any sort of gambling requires that three elements are present. There must be an element of chance, consideration and a prize. Gambling can be a short-term event or a long term one, with wagers placed on the outcome of a roll of a dice, or on an entire sporting season.
A Rich History
The history of gambling is long and varied and it’s more than feasible to think that prehistoric man bet on something or another for entertainment. Many of the world’s most popular games today originated in the East and in Europe, and Roulette, Sic Bo, Keno, Baccarat, Craps and Blackjack all have illustrious histories that stretch back in time.
Europe and the East both seemed to have a major influence in gambling and the games that were played here quickly spread to America and the other continents. In China certain gambling games even contributed to the building of the Great Wall, whilst in Europe there were specific wagering games that were only allowed in the royal courts. As popular gambling games spread across the globe new rules emerged and new variations too. This is particularly true of games such as Roulette and Blackjack, where regional variants were adapted from the original form of the game.
Today, there are a vast number of popular casino games that have stood the test of time and have been adapted and enhanced for enjoyment in land based casinos, online and for mobile.
Rules and Regulations
For lost as long as gambling has been around, so too have cheaters or those who try to crook the system. As gambling became increasingly popular, it was necessary to regulate activities and to ensure that both operator and players behaved in a fair manner.
Many jurisdictions created their own regional gambling laws and got the government to enforce them, administering some sort of control over gambling activities. Some countries were more lax than others in doing so, whilst others established respected regulatory boards that governed gambling in a positive way.
As there such a huge potential for a casino to make money, many countries capitalised on this and to date, Macau, Las Vegas and Monaco all generate a huge amount of money thanks to their casino.
Most gambling jurisdictions employ sensible measures to promote responsible gaming, whether by limiting the minimum age or by ensuring that only certain types of wagering are allowed.
Types of Gambling
There are several different types of gambling, and with online casinos, poker sites and sports books it’s never been easier to place a wager.
Casino games can be divided into slots, table games, instant win, electronic and speciality games. Then there are lotteries, mah-jong, bingo, coin toss and other games that are not classified as typical casino style entertainment. Betting is also a type of gambling, and sports betting, wagering on horse races, financial markets, elections or entertainment is all considered gambling.
Wagering on the outcome of just about anything is considered gambling and this activity seems ingrained in human nature, and not about to change any time soon.