Chaos theory helps to predict the outcome at the roulette table

At first glance, a roulette table looks like a jumble of numbers and a randomly hopping little white ball. But with a better understanding of physics and some general knowledge of the starting conditions, it may be possible ...

Study shows pigeons like to gamble

(PhysOrg.com) -- A new study of pigeons shows that, like human gamblers, they love to gamble on the off chance they will win big rather than taking a smaller, but more certain payout.

Half-time gamblers give stock market insight

Computer-modelled comparison of online football gamblers' behaviour during play and during half-time shows distinct real-time differences, begging the question what motivates betting behaviour when play is not underway?

25 arrested in 5 states in NY Web gambling probe

(AP)—Twenty five people in five states have been indicted in New York City on charges they operated an illegal sports betting business that took in $50 million in 18 months.

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Gambling

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 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). Also, the word gaming is frequently used to describe 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. In other forms, gambling can be conducted with materials which have a value, but aren't real money; for example, games like Pogs or Magic: The Gathering.

This text uses material from Wikipedia, licensed under CC BY-SA