Gambling

Gambling is the wagering of money or something of 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. Gambling thus requires three elements be present: consideration, chance and prize. The outcome of the wager is often immediate, such as a single roll of dice or a spin of a roulette wheel, but longer time frames are also common, allowing wagers on the outcome of a future sports contest or even an entire sports season.

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). The word gaming is used more frequently since the rise of computer and video games to describe activities that do not necessarily involve wagering, especially online gaming, with the new usage still not having displaced the old usage as the primary definition in common dictionaries.

Betting (disambiguation)

Betting can refer to:

Betting in poker

In the game of poker, the play largely centers on the act of betting, and as such, a protocol has been developed to speed up play, lessen confusion, and increase security while playing. Different games are played using different types of bets, and small variations in etiquette exist between cardrooms, but for the most part the following rules and protocol are observed by the majority of poker players.

Procedure

Players in a poker game act in turn, in clockwise rotation (acting out of turn can negatively affect other players). When it is a player's turn to act, the first verbal declaration or action she takes binds her to her choice of action; this rule prevents a player from changing her action after seeing how other players react to her initial, verbal action.

Until the first bet is made each player in turn may "check," which is to not place a bet, or "open," which is to make the first bet. After the first bet each player may "fold," which is to drop out of the hand losing any bets they have already made; "call," which is to match the highest bet so far made; or "raise," which is to increase the previous high bet.