The idea of easy money, being right and the excitement to win or lose over the outcome of the placed bet is what seems to have the people hooked to gambling and betting.
Here, if the said party wins, then the other team has to forfeit the wagered amount as per agreement.
This involves placing or putting 'a wager' on an event, in the hopes of making more money and wining, if in case the preferred event takes place or becomes true.
Although, gambling has the inherent feeling of excitement in waiting for the outcomes to come true, it also has its risks.
Gambling has got nothing to do with human skills.
It is a simple attempt to win money by carefully predicting the outcome of a betted event.
Also, betting is a word coined to legalize the activity of gambling, wherein betting is considered normal and gambling is looked down upon in most places.
Comparison between Gambling and Betting:
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