Stake Me Meaning In Gambling

It is an activity in which people put their money or anything valuable on stake for a monetary result or any other valuable material.

• Stake Me Meaning In Gambling Terms
• Stake Me Meaning In Gambling Meaning
• What Is Stake In Gambling
• Stake Me Meaning In Gambling Addiction

Essay on Gambling. Gambling can be done in many ways. Some of them are dice games, poker game, bingo, lottery tickets, internet gambling, assumption of stock market etc.

**Want to score above 95% in JEE Main**

People consider that they will win so they decide to put their money and play the game. In gambling people either gain money or lose everything they have put on stake.

But losing or gaining is all about chance and how one knows about the game. In some places gambling is legal while in other it is considered illegal.

• I am sure it has probably happened to you, because I know it has happened to me until I got adequate practice. A lot is at stake when gambling online.
• In Lipkin Gorman v Karpnale Ltd, where a solicitor used stolen funds to gamble at a. Studies show that though many people participate in gambling as a.
• Our guide takes you step by step explaining how betting odds work so that you can calculate how much money your bet will win.
• Gambling (also known as betting) is the wagering of money or something of value (referred to as 'the stakes') on an event with an uncertain outcome, with the primary intent of winning money or material goods. Gambling thus requires three elements to be present: consideration (an amount wagered).

Gambling can be done in many ways. Some of them are dice games, poker game, bingo, lottery tickets, internet gambling, assumption of stock market etc.

Reasons why people prefer gambling

People do gambling for various reasons. Some prefer gambling for money, passing time or for socializing with others.

They have their own reasons for choosing this activity. But whoever plays gambling must know that their money and other valuable items are at risk.

It all depends on their chance, luck and the manner to play the game. But if the person loses in gambling, whatever they had put on stake will be gone forever.

They will lose all their money. They will not get back what they had put on stake. Some of them do gambling for good purposes like fund charities and help in health care.

Religious light on gambling

Before the existence of different types of religion, gambling was at its peak.

Everyone was involved in gambling. It did not matter who is rich or poor.

According to their sources and means all of them took part in gambling. But things had changed after the different religions came to light.

For example: Islam strictly condemned gambling. It taught the people the bad side of gambling.

It is mentioned in Quran that one will not prosper if engaged in gambling.

People will suffer because of gambling. There will be conflicts, decline in economy, family will start to separate and many other problems.

Islam teaches its believers that one should not take anything without working hard for it and earning it.

This means that if this does not happen, the thing which is received without any hard work, it will hold no value. Even Bible teaches the same in a different way.

In one of the Ten Commandments, it says that “you shall not covet”. This commandment means that we should not wish for what we do not have; neither should we steal from someone else. Coveting will just make us evil.

We should be happy with what we have. In gambling people earn money easily. They do not have to work hard. This shows that they love money and they can do anything to get money.

The Bible also says that love of money is the root cause of all evil. But in some of the religions, gambling is a ritual. For example: During the festival of Diwali people are involved in gambling because it has religious significance.

Problems caused by gambling

Betting has various impacts on families and other relationships. Parents, children, siblings and partners all of them get affected because of gambling.

Something due to this effect there may be problems and violence. People who gamble are always busy in gambling. They are mostly concerned only for themselves.

They remain confused most of the time or are in anxiety. They spend less time with the family.

They do not communicate anymore properly like before. Due to this the family members feel they are being ignored.

This further result in other serious conflicts and problems. The children of the gamblers also slowly start adapting gambling.

It is a risk for the children because seeing their elder involved in gambling, even they will get addicted to it.

Most importantly there will be a major financial problem because the member of the family who is engaged in gambling is wasting the money in gambling. It will be a waste if they lose the money. Instead that money could be used for a good purpose.

Youth are the future of tomorrow. So, they should not be engaged in any activity which will harm their future. But at the present day gambling and youth have a very mutual relation.

These days they are involved a lot in gambling. It is very common among the youth. They are involved in gambling through card games, betting, online betting, lottery tickets and many other computer games.

In the starting parents will not see this as a problem or hindrance to the child’s future. But slowly their children become so involved in all these and then there is a change in their behavior.

It is only then they become addicted to gambling and the parents are more concerned about their child. They become worried that if this does not stop their child’s life will be spoilt.

This is the reason why the children should not be exposed to any sort of gambling. If they are kept away from gambling from before itself, later on it will not be a problem.

But this does not mean adults are not engaged in gambling. Even adults are involved in gambling. But they can be brought in line.

It is difficult to bring the children in line once they get addicted to bad things. So, the parents should always know what their child is doing.

This will help later on and the child will always be on the right even he grows into an adult.

Gambling through the eyes of Bollywood

Even though there are many problems associated with gambling, some people still prefer gambling and earn money.

Bollywood movies are the most common medium through which more people are getting themselves involved in gambling.

One of the most famous movie is Jannat directed by Kunal Deshmukh. In this movie Emraan Hashmi is addicted in crime activities.

He is involved in match fixing and then falls in love with his co-actor. In order to impress her and to get a better world, he earns money by card games and match mixing.

But his better world exists only for some time. Ultimately his happiness comes to an end.

The other top movie which is about gambling, casino is 36 China Town. The movie shows about the paradise of gambling.

Gambling becomes a big addiction for the actors in the movie due to which there is a murder and in the last they lose all the money.

This teaches us that if we gain something without working hard for it, that achievement will stay in our life only for some time. After that we are the ones who have to suffer.

Difference between gambling and betting

People often confuse about gambling and betting. Gambling and betting are similar. In fact, betting is a type of gambling.

The difference between the two is that in gambling the person who is putting his money on stake does not have any basis or idea what will be the result.

But in betting, people at least have an idea and they predict about the result of the game.

Gambling is more risky than betting because in gambling the person is putting all their money on stake. But this does not happen in betting. Betting is less risky.

Freedom from the addiction of gambling

Addiction of anything is not good; whether it is coffee, tea, any particular food, television shows, movies or games.

Addiction of anything ultimately creates problems in life. But it is necessary to get over the addiction. One very common addiction is gambling.

People do not have any idea what addiction to gambling will do to them later. Everyone wants to earn money and if there is an easy way to earn lots of money, they will obviously choose that.

But people should understand that easy method will give you happiness only for a shorter period of time.

So, it is necessary to work hard and earn money. Overcoming from the addiction of gambling is not at all easy. If a person who is addicted to gambling wants to get freed from this activity, they must know that they are having problems due to this.

After this they will be able to improve. In the starting it will be a little problem but as there is progress in the person, things will start to become better in the person’s life.

When they progress, people should appreciate their efforts to improve. This will make them confident and encourage them to work more towards improvement.

They should engage themselves in other activities so that they do not have even time to think about gambling.

They should not feel shy to ask support from others. Ultimately, the person has to help oneself to overcome this addiction.

He should believe in himself and then the result will come out good.

Gambling is the wagering of money or something of 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. Gambling thus requires three elements be present: consideration, chance and prize. The outcome of the wager is often immediate, such as a single roll of dice or a spin of a roulette wheel, but longer time frames are also common, allowing wagers on the outcome of a future sports contest or even an entire sports season.

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). The word gaming is used more frequently since the rise of computer and video games to describe activities that do not necessarily involve wagering, especially online gaming, with the new usage still not having displaced the old usage as the primary definition in common dictionaries.

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 are not 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.

History

Religious

Religious perspectives on gambling have been mixed. Ancient Hindu poems like the Gambler's Lament and the Mahabharata testify to the popularity of gambling among ancient Indians. However, the text Arthashastra (c. 4th century BCE) recommends taxation and control of gambling. Religious authorities generally disapprove of gambling. Ancient Jewish authorities frowned on gambling, even disqualifying professional gamblers from testifying in court. The Catholic Church holds the position that there is no moral impediment to gambling, so long as it is fair, all bettors have a reasonable chance of winning, that there is no fraud involved, and the parties involved do not have actual knowledge of the outcome of the bet (unless they have disclosed this knowledge). Gambling has often been seen as having social consequences, as satirized by Balzac. For these social and religious reasons, most legal jurisdictions limit gambling, as advocated by Pascal. Some Islamic nations prohibit gambling; most other countries regulate it.

Origins

Many popular games played in modern casinos originate from Europe and China. Games such as craps, baccarat, roulette, and blackjack originate from different areas of Europe. A version of keno, an ancient Chinese lottery game, is played in casinos around the world. In addition, pai gow poker, a hybrid between pai gow and poker is also played.

Regulation

Many jurisdictions, local as well as national, either ban gambling or heavily control it by licensing. Such regulation generally leads to gambling tourism and illegal gambling in the areas where it is not allowed. The involvement of governments, through regulation and taxation, has led to a close connection between many governments and gaming organizations, where legal gambling provides significant government revenue, such as in Monaco or Macau, China.

There is generally legislation requiring that the odds in gaming devices are statistically random, to prevent manufacturers from making some high-payoff results impossible. Since these high-payoffs have very low probability, a house bias can quite easily be missed unless the odds are checked carefully.

Most jurisdictions that allow gambling require participants to be above a certain age. In some jurisdictions, the gambling age differs depending on the type of gambling. For example, in many American states one must be over 21 to enter a casino, but may buy a lottery ticket after turning 18.

Insurance

Because contracts of insurance have many features in common with wagers, insurance contracts are often distinguished under law as agreements in which either party has an interest in the 'bet-upon' outcome beyond the specific financial terms. E.g.: a 'bet' with an insurer on whether one's house will burn down is not gambling, but rather insurance - as the homeowner has an obvious interest in the continued existence of his/her home independent of the purely financial aspects of the 'bet' (i.e., the insurance policy). Nonetheless, both insurance and gambling contracts are typically considered aleatory contracts under most legal systems, though they are subject to different types of regulation.

Asset recovery

Under common law, particularly English Law (English unjust enrichment), a gambling contract may not give a casino bona fide purchaser status, permitting the recovery of stolen funds in some situations. In Lipkin Gorman v Karpnale Ltd, where a solicitor used stolen funds to gamble at a casino, the House of Lords overruled the High Court's previous verdict, adjudicating that the casino return the stolen funds less those subject to any change of position defence. U.S. Law precedents are somewhat similar.

Sharia law

Although different interpretations of sharia law exists in the Muslim world, there is a consensus among the ulema that gambling is haraam (sinful). In assertions made during its prohibition, Muslim jurists describe gambling as being both unquranic and as being generally harmful to the Muslim community. The Islamic terminology for gambling is maisar however this also has a second definition meaning easy money. In parts of the world that implement full sharia law such as Aceh, punishments for Muslim gamblers can range up to 12 lashes or a one-year prison term and a fine for those who provide a venue for such practises.

Types of gambling

Casino games

While almost any game can be played for money, and any game typically played for money can also be played just for fun, some games are generally offered in a casino setting.

Table games

Electronic gaming

• Pachinko
• Slot machine
• Video poker
• Video bingo

Other gambling

• Keno

Non-casino gambling games

Gambling games that take place outside of casinos include Bingo (as played in the US and UK), dead pool, lotteries, pull-tab games and scratchcards, and Mahjong.

Other non-casino gambling games include:

• Card games, such as Liar's poker, Bridge, Basset, Lansquenet, Piquet, Put, Teen patti
• Carnival Games such as The Razzle or Hanky Pank
• Coin-tossing games such as Head and Tail, Two-up*
• Confidence tricks such as Three-card Monte or the Shell game
• Dice-based games, such as Backgammon, Liar's dice, Passe-dix, Hazard, Threes, Pig, or Mexico (or Perudo);

*Although coin tossing isn't usually played in a casino, it has been known to be an official gambling game in some Australian casinos

Stake Me Meaning In Gambling Terms

Fixed-odds betting

Fixed-odds betting and Parimutuel betting frequently occur at many types of sporting events, and political elections. In addition many bookmakers offer fixed odds on a number of non-sports related outcomes, for example the direction and extent of movement of various financial indices, the winner of television competitions such as Big Brother, and election results. Interactive prediction markets also offer trading on these outcomes, with 'shares' of results trading on an open market.

Parimutuel betting

One of the most widespread forms of gambling involves betting on horse or greyhound racing. Wagering may take place through parimutuel pools, or bookmakers may take bets personally. Parimutuel wagers pay off at prices determined by support in the wagering pools, while bookmakers pay off either at the odds offered at the time of accepting the bet; or at the median odds offered by track bookmakers at the time the race started.

Stake Me Meaning In Gambling Meaning

Sports betting

Betting on team sports has become an important service industry in many countries. For example, millions of people play the football pools every week in the United Kingdom. In addition to organized sports betting, both legal and illegal, there are many side-betting games played by casual groups of spectators, such as NCAA Basketball Tournament Bracket Pools, Super Bowl Squares, Fantasy Sports Leagues with monetary entry fees and winnings, and in-person spectator games like Moundball.

Arbitrage betting

Arbitrage betting is a theoretically risk-free betting system in which every outcome of an event is bet upon so that a known profit will be made by the bettor upon completion of the event, regardless of the outcome. Arbitrage betting is a combination of the ancient art of arbitrage trading and gambling, which has been made possible by the large numbers of bookmakers in the marketplace, creating occasional opportunities for arbitrage.

Other types of betting

One can also bet with another person that a statement is true or false, or that a specified event will happen (a 'back bet') or will not happen (a 'lay bet') within a specified time. This occurs in particular when two people have opposing but strongly held views on truth or events. Not only do the parties hope to gain from the bet, they place the bet also to demonstrate their certainty about the issue. Some means of determining the issue at stake must exist. Sometimes the amount bet remains nominal, demonstrating the outcome as one of principle rather than of financial importance.

Betting exchanges allow consumers to both back and lay at odds of their choice. Similar in some ways to a stock exchange, a bettor may want to back a horse (hoping it will win) or lay a horse (hoping it will lose, effectively acting as bookmaker).

Staking systems

Many betting systems have been created in an attempt to 'beat the house' but no system can make a mathematically unprofitable bet in terms of expected value profitable over time. Widely used systems include:

• Card counting - Many systems exist for Blackjack to keep track of the ratio of ten values to all others; when this ratio is high the player has an advantage and should increase the amount of their bets. Keeping track of cards dealt confers an advantage in other games as well.
• Due-column betting - A variation on fixed profits betting in which the bettor sets a target profit and then calculates a bet size that will make this profit, adding any losses to the target.
• Fixed profits - the stakes vary based on the odds to ensure the same profit from each winning selection.
• Fixed stakes - a traditional system of staking the same amount on each selection.
• Kelly - the optimum level to bet to maximize your future median bank level.
• Martingale - A system based on staking enough each time to recover losses from previous bet(s) until one wins.

Other uses of the term 'gambling'

Many risk-return choices are sometimes referred to colloquially as 'gambling.' Whether this terminology is acceptable is a matter of debate:

• Emotional or physical risk-taking, where the risk-return ratio is not quantifiable (e.g., skydiving, campaigning for political office, asking someone for a date, etc.)
• Insurance is a method of shifting risk from one party to another. Insurers use actuarial methods to calculate appropriate premiums, which is similar to calculating gambling odds. Insurers set their premiums to obtain a long term positive expected return in the same manner that professional gamblers select which bets to make. While insurance is sometimes distinguished from gambling by the requirement of an insurable interest, the equivalent in gambling is simply betting against one's own best interests (e.g., a sports coach betting against his own team to mitigate the financial repercussions of a losing season).
• Situations where the possible return is of secondary importance to the wager/purchase (e.g. entering a raffle in support of a charitable cause)

Investments are also usually not considered gambling, although some investments can involve significant risk. Examples of investments include stocks, bonds and real estate. Starting a business can also be considered a form of investment. Investments are generally not considered gambling when they meet the following criteria:

• Economic utility
• Positive expected returns (at least in the long term)
• Underlying value independent of the risk being undertaken

Some speculative investment activities are particularly risky, but are sometimes perceived to be different from gambling:

• Foreign currency exchange (forex) transactions
• Prediction markets
• Securities derivatives, such as options or futures, where the value of the derivative is dependent on the value of the underlying asset at a specific point in time (typically the derivative's associated expiration date)

What Is Stake In Gambling

Problem gambling

Stake Me Meaning In Gambling Addiction

Read main article: Problem gambling

Studies show that though many people participate in gambling as a form of recreation or even as a means to gain an income, gambling, like any behavior which involves variation in brain chemistry, can become a harmful, behavioral addiction. Reinforcement schedules may also make gamblers persist in gambling even after repeated losses.

The Russian writer Fyodor Dostoevsky (himself a problem gambler) portrays in his novella The Gambler the psychological implications of gambling and how gambling can affect gamblers. He also associates gambling and the idea of 'getting rich quick', suggesting that Russians may have a particular affinity for gambling. Dostoevsky shows the effect of betting money for the chance of gaining more in 19th-century Europe. The association between Russians and gambling has fed legends of the origins of Russian roulette.

Read more: