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The term gambling has had many different meanings depending on the cultural and historical context in which it is used. Currently, in Western societies, it has an economic definition, referring to “wagering money or something of material value 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 of time. 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. In our highly technical society where machine-tooled perfection is an ideal, the gambler has acquired a bad press. He is frequently viewed as an erratic, unstable, and irresponsible sort, driven by unknown forces to take foolish and unnecessary chances. (more…)
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