Need to Know Gambling

0075A sporting bet

One of the most popular forms of gambling is betting. This generally involves placing a bet on a sporting event at a bookmaker’s – horse racing is the most popular event. The amount an individual can win depends on the amount staked and the odds (probability) of that horse winning. Other events that are popular with gamblers include dog racing and football.

Betting machines

Another popular gambling activity is playing on fruit machines, also known as slot machines or one armed bandits. There are also similar machines in Australia called ‘pokies’ (video poker machines).

Casino games

Casinos have the greatest variety of games available in one venue. As well as playing on high-jackpot slot machines, gamblers can play various card games such as poker and blackjack, try their hand at craps, or take a chance at the roulette table. Casinos differ from other gambling venues because gambling chips are used instead of money. These are small, coloured discs, each with a different monetray value. Gamblers purchase the chips in a casino in order to gamble on the tables.

Bingo

A numbers game where the winner has to be the first one to match random numbers printed on a card to those being called out.

Lottery

A chance numbers game where the customer has to select the winning numbers drawn out. The jackpot is a percentage of the money collected from everyone playing. Lotteries are often used to collect money for charity.

Spread betting

A high risk form of gambling popular with people wishing to bet on the stock exchange and sporting events. Winnings can be large but gamblers have less control over how much they may lose.