Gambling involves placing money on a game or an event where the result is unknown and uncertain.
Gambling is defined as risking something of value on an activity or event in which the outcome is uncertain in hopes of winning something of material value.
There are two main categories of gambling – chance-based and skill-based.
Chance-based gambling is totally random and you cannot influence whether you will win or lose. All players have an equal chance of winning. Examples of chance-based gambling include the lottery, roulette, bingo and gaming machines.
In skill-based gambling, your ability can influence whether you will win or lose. Although chance is involved, the odds of winning are not the same among all players because technique, knowledge, or strategy can give some an advantage over others. Examples include betting on races and playing poker or blackjack.
One thing connects all types of gambling – risk. This means that the result is never certain, winning is never a "sure thing", and losing is always a possibility.