Game of chance
A game of chance is a game whose outcome is strongly influenced by some randomizing device, and upon which contestants may choose to wager money or anything of monetary value. Common devices used include dice, spinning tops, playing cards, roulette wheels, or numbered balls drawn from a container. A game of chance may have some skill element to it, however, chance generally plays a greater role in determining the outcome than skill. A game of skill, on the other hand, also may have elements of chance, but with skill playing a greater role in determining the outcome.
Any game of chance that involves anything of monetary value is gambling.
Gambling is known in nearly all human societies, even though many have passed laws restricting it. Early people used the knucklebones of sheep as dice. Some people develop a psychological addiction to gambling, and will risk even food and shelter to continue.
Some games of chance may also involve a certain degree of skill. This is especially true where the player or players have decisions to make based upon previous or incomplete knowledge, such as blackjack. In other games like roulette and punto banco (baccarat) the player may only choose the amount of bet and the thing he/she wants to bet on; the rest is up to chance, therefore these games are still considered games of chance with small amount of skills required. The distinction between 'chance' and 'skill' is relevant because in some countries chance games are illegal or at least regulated, but skill games are not.
People who engage in games of chance and gambling can develop a strong dependence on them. This is called psychopathology (addiction) of "pathological gambling". According to psychoanalyst Edmund Bergler, there are six characteristics of pathological gamblers:
- He must play regularly: the issue here is to know from when the subject performs "too much."
- The game takes precedence over all other interests.
- There is optimism in the player that is not initiated by repeated experiences of failure.
- The player never stops until he wins.
- Despite the precautions that he originally promised he ends up taking too many risks.
- There is in him a subjective experience of "thrill" (a shivering sensation, excitement, tension, both painful and pleasant) during the phases of play.
- Stochastic process
- Game classification
- Monty Hall problem
- Game of skill
- Russian roulette
- Gambler's ruin
- "Baccarat Strategy Guide". CasinoObserver.com. Retrieved 2013-03-06.
- McManus, James (24 August 2012). "Poker, an American Pastime and a Game of Skill". nytimes.com. Retrieved 2018-06-25.
- Drape, Joe (4 August 2016). "Win for DraftKings and FanDuel Opens Door for Sports Betting in New York". nytimes.com. Retrieved 2018-06-25.
- "Gambling and chance". SetThings. Retrieved July 6, 2017.
- Edmund Bergler. "The Psychology of Gambling (1957)".