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.
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A Dichotomy Between Business and Gambling
The gambling known as business looks with austere disfavor upon the business known as gambling.
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