Some people work hard to make earnings while others invest their already earned resources, let people work on their investments and earn returns on their investments. Similarly, some individuals have special…
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Regardless of the consciousness, the practice involves some form of potential gain to the involved parties. Gambling defines a game or a bet with uncertain result that aims at deriving a benefit. It involves parties that make a bet over an unpredictable outcome, at a sacrifice, and the person who is favored by the game’s outcome benefits from the sacrifices at the expense of the other parties (Johnson, 2011).
The first element of gambling is therefore existence of a game whose results are not known at the time of the parties’ entry into the gamble. The game either may involve the parties or may be independent in such a way that the parties are just but observers. An example of a game that involves the parties is a dice throwing game by the parties with a defined outcome as a win. The parties may also engage in a sport in which the winner of the sports becomes the winner of the gamble. Alternatively, it may involve a game that is being played by different parties. An example is a competitive football match or tournament such the United States premier league or a game in the premier league. In either of the cases, the result of the game that determines the winner and the looser in the gamble is uncertain at the time the parties enters into the gamble and is determinate later (Johnson, 2011).
Another essential element that defines a gamble is the associated reward that it involves. This is because its basis involves a bet in which a party relinquishes rights over a property. The property is then put under custody with its possession determined by the outcome of the subject game. If the results favor a party’s position in the gamble then he or she becomes the owner of the property that was put on the particular gamble. Any other party who is not favored by the results of the game therefore loses their property in the game. This is the general rule of gambling that depends on lack to benefit a party based on taken chances (Johnson,
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Gambling has a very long history. Since the inception, gambling has emerged as a controversial issue. A number of people argue that the gambling is required to be legalised as this is a leisure activity and a good revenue source.
China with its keno and with gambling as part of their culture influenced other nearby Asian countries to come up with their own version of gambling games. Recently, Macau launched bigger casino hotels affirming that Macau is the “Monte Carlo” in the orient which is being visited by gamblers near and far.
Gambling, based on the definition of Blaszczynski, Walker, Sagris and Dickerson (1997), is the act of staking money or wagering some items of material value in a specific event with the given objective of winning money or material goods though the outcome is not certain for the reason that winning is determined by chance.
Gambling is a game that has existed for a long time, but it becomes more popular after the Second World War. In the year 2008, more than twenty six million people gambled in the state of Indiana generating more than $2.6billion in win (Landers, 2009). Landers also argue that gambling brought about income inequalities especially from taxation than other income generating activities due to the complex nature of the game.
Though gambling is considered illegal in some countries, online gaming is allowed in most of the developed countries. This paper describes the general background of William Hill, an online gaming company. William Hill gambling company is a company associated with online betting.
That some individuals who do not now gamble will become inextricably involved in its operation if it were made legal, to the point that they will be defined as "problem" gamblers, seems inevitable. It is now estimated that there are some ten million "compulsive" gamblers in the United States, and Gamblers Anonymous, begun in 1957, has become the therapeutic force resembling its counterpart for alcoholics in the field.
Now the immediate assumption of irrationality or rationality provides an extremely good idea of associated confirmation bias as ones rational state is an individually assumed state of mind in which one
Gambling is shown to have begun in the state of Nevada. It was adopted as a way of providing revenue to the state and the poor education system. The effect was the increased revenue because of tourist activities. There
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