The Different Types of Gambling

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Peter Perkins Sunday, September 10, 2017

There are many locations where we can all take part in gambling in some form or another, whether it is in a betting shop, a casino, or even through purchasing a lottery ticket or scratch card from a local retailer. Even some pubs and bars will have slot machines that can be played that can reward players with some healthy payouts.

Each form of gambling will have their own odds and probability of winning and will therefore provide different amounts of money that can be won. What you do win will heavily depend on how much you have bet and the odds given on that bet.

Here we are going to look at the various different types of gambling that are available to us. There will be other games and forms of gambling out there but the following are the most common that you will see.

Lottery

Playing a lottery is the most common form of gambling even though many consider it more a form of entertainment and tradition than actually gambling. It is gambling however and is one of the only ways that somebody could win huge sums of money from a very small outlay.

There are a variety of different types of lottery out there these days but most require players to choose a selection of numbers when purchasing a ticket. If some or all of those numbers are drawn when the lottery draw takes place, the player will win an amount of money.

Obviously, any player that gets all of their numbers matched will take home all or part (in the case of there being other winners) of the lotteries jackpot.

Scratch Cards

Scratch cards are without doubt one of the easiest ways to gamble, they require nothing more than scratching off a thin layer to reveal whether or not you have won. These scratch cards can be purchased from a number of different retail outlets and can be worth as much as millions depending on the type and value of scratch card that you purchase.

If you do get a win, if it is small enough it can be cashed in at the same place you bought it. If it is a huge win however, you will more than likely have to either send it off or take it in person to a particular lottery office.

Poker

Poker is definitely one of the more complex forms of gambling but it can also be one of the best with regards to making money. This is because you are not betting against the house but other players, so you have a much better chance of walking away with some profit.

It is basically a card game that two or more players can play whereby each card has a value and the players all bet on their cards in the hope that they have the best hand come the end. The player with the strongest hand at the end walks away with the pot of money that the players have been adding to with their bets.

Roulette

If you have ever watched movies that involve gambling, you would probably have seen a roulette wheel with a ball spinning around it and then landing on a number. This game essentially revolves around the bet placed on where this ball lands.

There is a betting table around the roulette wheel that allows players to place chips. These chips could be placed to bet on a number, the color of the number (red, black, or green), the number being odd or even, or a range of numbers. Ach bet will have its own odds and will payout varying amounts of money dependent on how much was bet on it.

Bingo

Bingo is another popular way to gamble that is based purely on chance. It involves each player having a sheet that has had random numbers printed on them – each sheet is different from the others. The caller is the person that is responsible for calling out numbers that he/she has pulled from a tombola.

As the numbers are called on by one, players are then responsible for crossing off any that they have on their sheet. The person that wins is the first person to have crossed off all numbers on their sheet. That person will win the entry fees from all other players minus a small amount that the house takes for hosting the game.

Sports Betting and Racing

If you have ever been to a horse race or a betting shop, you will probably know that there are all kinds of bets that you can place on different sporting events or races. The odds are usually decided upon judging on the form of a sportsman, team, or horse, but this does not always mean that the favorite will win.

If you bet on a favorite you are going to get short odds such as 2/1 whereas an outsider could give odds as high as 100/1 in some cases. This means that a dollar bet on each of them will bring you $2 + $1 bet on the former and $100 + $1 bet on the latter if they were to win.

Online Gambling

Each of the above types of gambling can not only be played in brick and mortar casinos but can also be played online at the various online casinos found on the internet.  The games will be pretty much the same than what you will find at a land based casino but everything will be done virtually.

You may also find that the games are a bit faster to play as well but apart from that, the rules and formats of the games will be the same.

There are plenty of other different types of gambling too but the ones mentioned above are easily the most common. Whichever one you might choose, just make sure that you understand the rules and how to play the games. This will give you a better chance at avoiding mistakes and needlessly throwing money away.

Find out more about gambling here.