Game gambling

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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:

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Many risk-return choices are sometimes referred to colloquially as “gambling.”[52] Whether this terminology is acceptable is a matter of debate: Gambling (also known as betting) is the wagering something of value (“the stakes”) on an event with an uncertain outcome with the intent of winning something else of value. Gambling thus requires three elements to be present: consideration (an amount wagered), risk (chance), and a prize.[1] The outcome of the wager is often immediate, such as a single roll of dice, a spin of a roulette wheel, or a horse crossing the finish line, but longer time frames are also common, allowing wagers on the outcome of a future sports contest or even an entire sports season. Other churches that oppose gambling include the Jehovah’s Witnesses, The Church of Jesus Christ of Latter-day Saints,[44] the Iglesia ni Cristo,[45] and the Members Church of God International. Gambling is also a major international commercial activity, with the legal gambling market totaling an estimated $335 billion in 2009.[6] In other forms, gambling can be conducted with materials that 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.

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, 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),[25] and as long as the following conditions are met: the gambler can afford to lose the bet, and stops when the limit is reached, and the motivation is entertainment and not personal gain leading to the “love of money”[26] or making a living.[27] In general, Catholic bishops have opposed casino gambling on the grounds that it too often tempts people into problem gambling or addiction, and has particularly negative effects on poor people; they sometimes also cite secondary effects such as increases in loan sharking, prostitution, corruption, and general public immorality.[28][29][30] Some parish pastors have also opposed casinos for the additional reason that they would take customers away from church bingo and annual festivals where games such as blackjack, roulette, craps, and poker are used for fundraising.[31] St. Thomas Aquinas wrote that gambling should be especially forbidden where the losing bettor is underage or otherwise not able to consent to the transaction.[32] 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.[33] 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. Based on Sports Betting, Virtual Sports are fantasy and never played sports events made by software that can be played every time without wondering about external things like weather conditions.

According to the Most Holy Book, paragraph 155, gambling is forbidden. Gamblers exhibit a number of cognitive and motivational biases that distort the perceived odds of events and that influence their preferences for gambles. Other non-casino gambling games include: Spread betting allows gamblers to wagering on the outcome of an event where the pay-off is based on the accuracy of the wager, rather than a simple “win or lose” outcome. For example, a wager can be based on the when a point is scored in the game in minutes and each minute away from the prediction increases or reduces the payout.

In parts of the world that implement full Shari‘ah, 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.[47] Some Islamic nations prohibit gambling; most other countries regulate it.[48] Some speculative investment activities are particularly risky, but are sometimes perceived to be different from gambling: Other Protestants that oppose gambling include many Mennonites, Quakers,[39] the Christian Reformed Church in North America,[40] the Church of the Lutheran Confession,[41] the Southern Baptist Convention,[42] the Assemblies of God,[43] and the Seventh-day Adventist Church.

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