Learn about gambling
Types of gambling
There are a many ways to gamble and all involve various levels of chance with the odds of winning less than the likelihood of losing.
Essentially there are two types of gambling:
1. Games of pure chance
These games are mathematically constructed to make it inevitable that the operator will make more money than gamblers will win. You might be lucky at times, but over time continual gambling will result in net losses for the player.
The odds of winning cannot be affected by anything the player does or thinks they know.
Includes: pokies, various forms of lotto including Keno and casino games such as roulette.
2. Games combining skill and chance
While skill is a component in these games, chance still plays a large role in determining the result and the odds are always in the operators’ favour.
Some knowledge and judgement may increase your chances of guessing a winning outcome.
Includes: card games such as poker and blackjack and various types of betting offered by bookmakers, such as betting on horses, football teams or events.