Difference between revisions of "Gambling"
m (Text replacement - "http://" to "https://") |
|||
| Line 3: | Line 3: | ||
==Origin== | ==Origin== | ||
probably back-formation from gambler, probably alteration of obsolete gamner, from obsolete gamen to [[play]] | probably back-formation from gambler, probably alteration of obsolete gamner, from obsolete gamen to [[play]] | ||
| − | [ | + | [https://en.wikipedia.org/wiki/18th_Century 1772] |
==Description== | ==Description== | ||
:intransitive verb | :intransitive verb | ||
| Line 15: | Line 15: | ||
'''Gambling''' is the wagering of [[money]] or something of [[material]] [[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]]. Typically, the outcome of the wager is evident within a short period. | '''Gambling''' is the wagering of [[money]] or something of [[material]] [[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]]. Typically, the outcome of the wager is evident within a short period. | ||
| − | 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]]. This distinction is not [[universally]] [[observed]] in the [[English]]-speaking world, however. For instance, in the UK, the regulator of gambling activities is called the Gambling Commission (not the Gaming Commission). Also, the word [ | + | 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]]. This distinction is not [[universally]] [[observed]] in the [[English]]-speaking world, however. For instance, in the UK, the regulator of gambling activities is called the Gambling Commission (not the Gaming Commission). Also, the word [https://en.wiktionary.org/wiki/gaming ''gaming''] is frequently used to describe [[activities]] that do not involve wagering, especially online. Gambling is a major international [[commercial]] activity, with the legal gambling market totalling an estimated $335 billion in 2009.[https://en.wikipedia.org/wiki/Gambling] |
[[Category: Economics]] | [[Category: Economics]] | ||
Latest revision as of 00:16, 13 December 2020
Origin
probably back-formation from gambler, probably alteration of obsolete gamner, from obsolete gamen to play 1772
Description
- intransitive verb
- b : to bet on an uncertain outcome
- 2: to stake something on a contingency : take a chance
- transitive verb
- 1: to risk by gambling : wager
- 2: venture, hazard
Description
Gambling is the wagering of money or something of material 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. Typically, the outcome of the wager is evident within a short period.
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. This distinction is not universally observed in the English-speaking world, however. For instance, in the UK, the regulator of gambling activities is called the Gambling Commission (not the Gaming Commission). Also, the word gaming is frequently used to describe activities that do not involve wagering, especially online. Gambling is a major international commercial activity, with the legal gambling market totalling an estimated $335 billion in 2009.[1]
