Gambling and Its Types

Gambling is staking money or some material value at a particular event with a vague outcome and a chief intention of winning extra money or goods. Basically, the result of stake is clear in a certain period of time.
The term Gambling particularly in this context implies to examples in which it is legally permitted by law. Gambling is combination of two different words gaming and legal. Gambling is mainly chosen by people as a recreational activity. Most of the people play this game for fun and earn extra money. It is very difficult to overcome addiction to gambling.Gambling is often seen as a medium of escape from worldly tensions and worries by many people who are going through a difficult phase. Today there are several forms of gambling which are practiced in casinos and clubs worldwide:1. Casino games and Table games: These games have different types which are practiced in different countries.2. Electronic gambling: Electronic gambling is further divided in to various kinds:
a) Pachinko
b) Video Poker
c) Slot Machine3. Bingo and Keno are other forms of gambling.
Bingo and Poker are today played online as well. Now, people who do not actually have time to visit casinos and clubs can enjoy their game online easily. There are several websites offering permission to play these games for a little money.4. Non-casino gambling games
All those gambling games that are played outside the casinos are known as Non-casino gambling games. These games include lotteries, dead pool, Mahjong, scratch cards, pull tabs and lotteries.
a) The non casino Card games are Basset, bridge, Liar’s poker, piquet, lansquenet, bridge, teen patti, put, etc.
b) Carnival games include Hanky pank or the Razzle. Coin tossing games like two up, head and tail.
c) Confidence tricks like shell game or three card monte.
d) Diced based non casino games like liar’s dice, backgammon, threes, Passe-dix, Mexico or pig.
e) Although coin tossing is not played in casinos, but in Australia it is an official game in few casino’s5. Fixed-odds gambling
Pari-mutuel betting and fixed odds gambling regularly occur at different kinds of political elections and sporting events. Also many bookmakers give fixed odds on various non sports related results, for instance, the extent and direction of movement of several financial indices, the winners of different TV reality shows like big brother and election results.6. Pari-mutuel betting
One of the most popular forms of gambling includes betting on grey hound or horse. It is a major form of gambling practiced in various countries. Staking may happen through bookmakers, pari-mutuel pools or personally. Pari-mutuel gambles pay off the cost calculated by support in staking pool, whereas bookmakers pay either at median odds given by track book makers when the race begins or odds given during the time of accepting the bet.7. Sports betting
Betting on sports game is practiced in almost every country of the world. For instance, thousands of Britons play football pools each week. Apart from organized sports betting, both illegal and legal betting also takes place.

Gambling Psychology

Gambling psychology for most people conjures up images of stony faced poker players and their habits and actions (tells) that suggest the value of the cards they are holding.I contend that there is much more to gambling psychology. When we look at successful gamblers, they all have a sound money management strategy, a sound game strategy, a high level of game skills, distinctive presentation and when appropriate, the ability to psyche their opponents.You may contend that that some of these aspects of gambling do not involve psychology. I disagree.The sound money management strategy allows the successful gambler to recover from a number of consecutive losing gambling sessions. Especially in poker, opponents notice these things and the ability to bounce back has a subtle psychological effect on opponents. This also allows you to approach the next session in a better frame of mind than what you would otherwise be in because you know that if you should loose again, you still have adequate reserves to try again multiple times.Without a sound game strategy you will be taken to the cleaners regardless of the game you play or where you play it. A sound strategy simply requires you to play the game to take advantage of all the favorable bets and to avoid those bets where the house has an unreasonable advantage.This allows you to play with confidence because once your strategy has been tested and proven, you know that when you win, your winnings will be reasonable to quite good and on those occasions when you loose, your losses will be relatively modest.Your game skills give you the confidence to adhere to your strategies when under pressure so that you maximize your winnings and minimize your losses. If your game stresses you unduly, either find a game with lower limits or a different game that you find less stressful. If that is not possible, then it is time to find another past time.Your distinctive presentation sends a message to your opponents. That message is dependent on where and with whom you play. Many years ago, I worked as a ringer (cowboy) and long wearing western shirts, jeans and polished riding boots have been both my preferred work and casual wear ever since. In the city, that gives me the image of a hay seed (hillbilly). At the poker tables, that’s great because most of those who do not know me personally will tend to assess me as an inexperienced and poor player.To me these are the unnoticed aspects of gambling psychology that all combine to build your personal confidence and allow you to exude confidence during your gambling session.Virtually everyone has heard about poker “tells” even if they do not really know what they are. Tells are the subtle signs that others pick up on that give them a good idea as to the strength of our poker hand. Hiding these tells from your opponents, requires a great deal of acting skills and practice especially when you suddenly find yourself sitting on a good full house or a royal flush.I recall playing against this stony faced guy who hardly moved or spoke for hours when suddenly the artery on the side of his neck started jumping like he had just run a marathon. He obviously had a hand that he found very exciting. Whilst he could control his voluntary actions, he could not control his involuntary actions. All those who could see that side of his neck folded in turn. If he had come dressed as ‘dandy’ complete with a cravat, no one may have noticed his obvious excitement and his pot would have been much bigger.This incident vividly illustrates the visible aspects of gambling psychology.Lastly, I thought I should do some research to see what the experts have to say about gambling psychology. After a few hours, of reading those papers, the overwhelming thrust was that we were all exhibiting the early signs of abnormal behavioral patterns and if caught early, the problem could respond to treatment. Unfortunately, there are some in our midst where gambling has become a problem.I make a point of never gambling when cash is short because it has been my sad experience that whenever I have gambled in those situations, I have almost always lost and such losses are doubly painful. I have always won most whenever I could well and truly have afforded the loss. Being cashed up removes the stress and reduces the mistakes one makes when playing overly cautiously.To the intelligent gamblers in our midst who have sound strategies in place and who never bet more than they can afford to loose, I say work on the psychological aspects of your game to improbe your edge and Good Luck at the Tables!