gambling
Definition
Betting (wagering) that must result either in a gain or a loss. Gambling is neither risk taking in the sense of speculation (assumption of substantial short-term risk) nor investing (acquiring property or assets for securing long-term capital gains). It also differs from insurance which may reduce or eliminate the risk of loss but offers no legitimate chance of gain.
gambling is in the Decision Making, Problem Solving, & Strategy and Disaster Planning & Risk Management subjects.
gambling appears in the definitions of the following terms: aggressive, investment, insurable interest, speculation, Monte Carlo method, lottery and sin tax
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