Wagering is Gambling

Wagering is Gambling

Gambling is the wagering of money or something of material value 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.

Gaming refers to instances in which the law permits the type of gambling. Gaming and gambling are not mutually exclusive. A gaming company offers legal gambling activities to the public and a gaming control board may regulate the gaming company, like the Nevada Gaming Control Board. However, the English-speaking world does not acknowledge this distinction often. For instance, in the UK, the regulator of gambling activities is called the Gambling Commission not the Gaming Commission.  In addition, the word gaming describes 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.

Under United States federal law, gambling is legal in the country and states are free to regulate or prohibit the practice. Gambling has been legal in Nevada since 1931, forming the backbone of the economy of the state. The city of Las Vegas is perhaps the best known gambling destination in the world. In 1976, gambling became legal in Atlantic City, New Jersey and in 1990, under state law, gambling became permissible in Tunica, Mississippi; both of those cities have developed extensive casino and resort areas since then. Since a favorable United State Supreme Court decision in 1987, many American Indian tribes have built their own casinos on tribal lands as a way to provide revenue for the tribe. Because the tribes are sovereign nations, they are often exempt from state laws that restrict gambling and are instead regulated under federal law.

Problem Gambling

People sometimes call problem gambling ludomania. Problem gambling is an urge to gamble despite harmful negative consequences or personal desire to stop. Problem gambling often means that the gambler hurts other people. Severe problem gambling is clinical pathological gambling if the gambler meets certain criteria. Although the term gambling addiction is common in the recovery movement, pathological gambling is an impulse control disorder and is therefore not an addiction according to the American Psychological Association.

A study by the United Kingdom Gambling Commission, called the British Gambling Prevalence Survey 2007, found that approximately 0.6% of the adult population had problem gambling issues, the same percentage as in 1999. The highest prevalence of problem gambling is amongst those who participated in spread betting 14.7%, fixed odds betting terminals 11.2% and betting exchanges 9.8%.

Research by governments in Australia led to a universal definition of problem gambling, which appears to be the only research based definition not to use diagnostic criteria. Problem gambling involves many difficulties in limiting money and/or time spent on gambling which leads to adverse consequences for the gambler, others or for the community. Most other definitions of problem gambling can usually be simplified to any gambling that causes harm to the gambler or someone else in any way. However, these definitions are usually coupled with descriptions of the type of harm or the use of diagnostic criteria. According to DSM-IV, pathological gambling is separate from a manic episode. When the gambling occurs independent of other impulsive, mood or thought disorders is becomes its own diagnosis.

Available research seems to indicate that problem gambling is an internal tendency and that problem gamblers will tend to risk money on whatever game may be available, rather than a particular game being available. However, research also indicates that problem gamblers tend to risk money on fast paced games. A problem gambler is much more likely to lose a lot of money on roulette or slot machines, where rounds end quickly and there is a constant temptation to play again or increase bets, as opposed to a state lottery where the gambler must wait until the next drawing to see results.

Most treatment for problem gambling involves counseling, programs with steps to recover, self help, peer support, medication or a combination of these. However, no one treatment is most efficacious and the United States Food and Drug Administration has not approved medications for the treatment of pathological gambling.

Cognitive behavioral therapy helps reduce symptoms and urges related to gambling. This type of therapy focuses on the identification of the thought processes, mood and cognitive distortions that increase the vulnerability of the gambler. Additionally, cognitive behavioral therapy approaches frequently utilize techniques that build skills geared toward relapse prevention and assertiveness.

Internet Casinos

Online casinos, also known as virtual casinos or Internet casinos are online versions of traditional brick and mortar casinos. Online casinos enable gamblers to play and wager on casino games through the Internet.

Online casinos generally offer odds and payback percentages that are comparable to land-based casinos. Some online casinos claim higher payback percentages for slot machine games, and some publish payout percentage audits on their websites. Assuming that the online casino is using an appropriately programmed random number generator, table games like blackjack have an established house edge. The payout percentage for these games is established by the rules of the game.

Many online casinos lease or purchase their software from companies like Microgaming, Realtime Gaming, Playtech, International Game Technology and CryptoLogic Inc.

Online casinos can be divided into two groups based on their interface: web-based and download-only casinos. Some casinos offer both interfaces.

Some casinos offer 'Live gaming', either exclusively, or as part of a wider online casino offering. In live online casinos, popular casino games such as roulette and blackjack are dealt by real dealers in casino studios, in an attempt to convey more of the atmosphere of a physical casino. Player actions including chat such as 'hit' in the game of blackjack may be transmitted to the dealer; in some online casinos more than one player may 'sit' at a particular 'seat' on the table, and in this case there is no interactivity between player and dealer, the question of which players requested the extra card that the dealer dealt and which chose to 'stand' will be handled by the software. It is usual for players to be able to observe a video feed of the action, and equally common for players to opt to turn it off, if they lack the bandwidth - as the cards are read by OCR and other technology, the video feed is only ever a visual cue.

Web-based online casinos are websites where users may play casino games without downloading software to the local computer. Games are mainly represented in the browser plugins Macromedia Flash, Macromedia Shockwave, or Java and require browser support for these plugins. Also, bandwidth is needed since all graphics, sounds and animations are loaded through the web via the plugin. Some online casinos also allow gameplay through a plain HTML interface. Apple devices such as iPod, iPad and iPhone cannot play Flash games as the technology is not supported.

Download-based online casinos require the download of the software client in order to play and wager on the casino games offered. The online casino software connects to the casino service provider and handles contact without browser support. Download-based online casinos generally run faster than web-based online casinos since the graphics and sound programs are located within the software client, rather than having to be loaded from the Internet. On the other hand, the initial download and installation of a download-based online casino client does take time. As with any download from the Internet, the risk of the program containing malware does exist. Still the graphics and sounds at download-based online casinos are most of the time much better than those at web-based online casinos.