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Gambling is a contest where players bet on the result of an event. The loser of the bet gives the winner money. The rules and the amount of money bet are decided before the event happens.

Gambling variables

There are three variables common to all forms of gambling:

  • How much is being wagered, the initial stake (in money or material goods).
  • The predictability of the event.
  • The odds agreed between the two (or more) parties to the wager; where there is a house or a bookmaker, the odds are (quite legally) arranged in favour of the house.


The expected value, positive or negative, is a mathematical calculation using these three variables. The amount wagered determines the scale of an individual wager (bet); the odds and the amount wagered determine the payout if successful; the predicability determines the frequency of success. Finally the frequency of success times the payout minus the amount wagered equals the "expected value" The skill of a gambler lies in understanding and manoeuvring the three variables so that the "actual value" is positive over a series of wagers.

Types of gambling

  • Casino games (Poker, slots, baccarat, Sic bo..)
  • Non-casino gambling games (Bingo, Lottery, Bridge etc)
  • other types of gambling (horse racing, bet on football matches etc)


"Beatable" casino games

With proper strategy, a smart player can create a positive mathematical expectation.


  • Poker (Also recognised as a game of skill)
  • Blackjack - with card counting
  • Video poker - with proper pay table and/or progressive jackpot
  • Sports betting
  • Slot machines
  • etc


Online Gambling

Online gambling is a general term for gambling using the Internet.

Online poker

Online poker rooms commonly offer Texas hold 'em, Omaha, Seven-card stud, and other game types in both tournament and ring game structures. Players play against each other rather than the "house", with the card room making its money through the "rake".

Online casinos

There are a large number of online casinos, in which people can play casino games such as Roulette, Blackjack, Craps, and many others. These games are played against the "house", which makes money due to the fact that the odds are slightly in its favour.

Online sports betting

Bookmakers and betting exchanges offer fixed-odds gambling over the Internet on the results of sporting events.

Online bingo
There are a number of online bingo rooms offering games on the Internet.

Mobile gambling
Developments in the use of wireless, mobile devices to gamble follow in the wake of mainstream online gambling.

Funds transfers

Typically, gamblers upload funds to the online gambling company, make bets or play the games that it offers, and then cash out any winnings. European gamblers can often fund gambling accounts by credit card or debit card, and cash out winnings directly back to the card. However, most US banks prohibit the use of their cards for the purpose of internet gambling, and attempts by Americans to use credit cards at internet gambling sites are usually rejected. A number of offshore electronic money services, including Firepay, Neteller, and Moneybookers, offer accounts with which online gambling can be funded.
Payment by cheque and wire transfer is also common.

Legality

The United States Federal Appeals Courts has ruled that the Federal Wire Act prohibits electronic transmission of information for sports betting across state lines but affirmed a lower court ruling that the Wire Act "'in plain language' does not prohibit Internet gambling 'on a game of chance.'"

Some states have specific laws against online gambling of any kind. Also, owning an online gaming operation without proper licensing would be illegal, and no states are currently granting online gaming licenses.


Latest 10 online casino news:

Poker Pro Sentenced In New York High Stakes Game Case
The poker pro who brought to New York some of the largest poker gamblers in the world was sentenced this week to just under a half year in prison for his role in the illegal poker game. > Added: 2016-10-02 © Casinogamblingweb.com
With Super Bowl Betting Over, Gamblers Turn To March Madness
Now that the top gambling sporting event, the Super Bowl, has come and gone, bettors are turning their attention to March Madness and the start of the baseball season. > Added: 2016-10-02 © Casinogamblingweb.com
Supreme Court To Decide On Poker Legality Case Friday
The US Supreme Court will weigh in on Friday as to whether they will hear a case involving the legality of home poker games in the country, at a time when poker is more popular than ever. > Added: 2016-10-02 © Casinogamblingweb.com
MLB World Series Betting Odds: Dodgers, Tigers Favored
With the regular season just a few weeks away, he Los Angeles Dodgers and Detroit Tigers are the preseason two betting favorites to win the World Series. > Added: 2016-10-02 © Casinogamblingweb.com
Usual Suspects On Top In Early MLB Betting
Gamblers are sticking with what they know early in the Major League Baseball season, and the teams with the lowest odds coming in are rewarding the bettors. > Added: 2016-10-02 © Casinogamblingweb.com
Regulations Needed to Stop Criminals at Online Casinos in the USA
Following the new McAfee report revealing issues with criminal activity at online casinos, Jeffrey Maxwell explains how regulations by the US government can stop it. > Added: 2016-10-02 © Casinogamblingweb.com
Tribal And Private Gaming Owners Square Off In Massachusetts
Steve Wynn and the Mohegan Sun are squaring off in a battle for a casino license in Massachusetts, and the two have vastly different views of how regulations are being constructed. > Added: 2016-10-02 © Casinogamblingweb.com
New Jersey Bets Big on Sports Gambling, Loses - So Far...
Governor Chris Christie may need a win in the Supreme Court to justify his defense for his initiative to legalize sports betting in the state. > Added: 2016-10-02 © Casinogamblingweb.com
LVS Owner Adelson Pulling the Strings of Politicians in the US
Las Vegas Sands is playing the political system, and its owner, Sheldon Adelson, is the puppet master behind the curtain pulling the strings, according to new reports. > Added: 2016-10-02 © Casinogamblingweb.com
Cheers and Jeers Abound for New UK Online Gambling Law
The new UK betting law is expected to be finalized by July 1st and go into effect by September 1st. However, many are concerned the law could create another wild-west situation in the UK. > Added: 2016-10-02 © Casinogamblingweb.com

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