Gambling is the wagering of money or something of material value (referred to as "the stakes") on an event with an uncertain outcome with the primary intent of winning additional money and/or material goods. Typically, the outcome of the wager is evident within a short period.
The term gaming in this context typically refers to instances in which the activity has been specifically permitted by law. The two words are not mutually exclusive; i.e., a “gaming” company offers (legal) “gambling” activities to the public and may be regulated by one of many gaming control boards, for example, the Nevada Gaming Control Board. However, this distinction is not universally observed in the English-speaking world. For instance, in the UK, the regulator of gambling activities is called the Gambling Commission (not the Gaming Commission). Also, the word gaming is frequently used to describe activities that do not involve wagering, especially online.
Gambling is also a major international commercial activity, with the legal gambling market totaling an estimated $335 billion in 2009. In other forms, gambling can be conducted with materials which have a value, but aren't real money. For example, players of marbles games might wager marbles, and likewise games of Pogs or Magic: The Gathering can be played with the collectible game pieces (respectively, small discs and trading cards) as stakes, resulting in a meta-game regarding the value of a player's collection of pieces.
Other articles related to "gambling, gaming":
... activism has led to the development of casino gambling on tribal trust lands to generate revenue and support economic development ... and federally recognized tribes who operate their own facilities in states that allow gaming, and citizen groups concerned about the proliferation of gaming ... United States Representatives said that "the Ramapo would bring in Indian gaming associated with organized crime." U.S ...
... Many forms of gambling are legal there, such as blackjack, baccarat, roulette, boule, Sic bo, Fan Tan, keno and slot machines ... Gambling has been legal in Macau for a long time beginning in 1851 where there was a licensing system for gambling houses until 1863. 12 table games 1 VIP room (15,000 sq ft) None Sands Macao 24 hours 405 slots and 270 gaming tables (165,000 sq ft) 51 suite VIP hotel Golden Dragon Casino 24 hours 137 slots, 123 gaming machines and 85 gaming ...
Famous quotes containing the words gaming and/or gambling:
“Sir, I do not call a gamester a dishonest man; but I call him an unsocial man, an unprofitable man. Gaming is a mode of transferring property without producing any intermediate good.”
—Samuel Johnson (17091784)
“There are three roads to ruin; women, gambling and technicians. The most pleasant is with women, the quickest is with gambling, but the surest is with technicians.”
—Georges Pompidou (19111974)