Though, gambling and betting seem to be the same, they are subtle differences between the two addictive activities. 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. For, man has always been interested in knowing the future, whether it is regarding life, sports, marriage and even the next day weather. And, these gambling and betting activities of humans have been going around since the ancient times. ‘The world is going to end in the year 2013! Want to bet?’, or ‘I bet, Australia is going to win the World Cup!’ or ‘I bet you to drink 10 glasses of milk!’ as one can see, these lines are often heard and made by people all around the world.
The main difference between the two activities is that in gambling ‘the stakes’ or ‘the wager’ is placed on an event without any basis of the outcomes, whereas in betting the stakes are placed, based on at-least an idea or the performance about the said betting event. Key difference: Betting is considered to be a form of gambling.
