Gambling

Gambling (also known as betting or gaming) is the wagering of value ("the stakes") on an event having an uncertain outcome, with the primary goal being financial gain while disregarding the player's skill in achieving that goal. To gamble, there must be three things: consideration (the amount being gambled), risk (the element of chance), and an incentive (the reward). The outcome of a bet may be instantaneous, such as with a roll of dice or a spin of a roulette wheel, or it can extend over a longer period of time, such as with a betting on the results of a future sporting event or the whole season.