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The Different Types Of Gambling Games

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Introduction

Do you know that there are different types of gambling games? It would be fun to put a little science of taxonomy to this favorite past time of ours. Gambling may be classified into several types depending on which aspects one will look into it. This may prove to be important to people who want to ensure that they are playing the right game for them. Or, this would be helpful for people who want to broaden their knowledge in the games they could play.

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But before we get into our main topic, let us first discuss the variables in gambling:

In any form of gambling, three variables shall always be common to them:

  1. How much money (or material good) is at stake

  2. The probability of the event

2.1. Random selection or sampling of numbers or patterns, like in lotteries, slot machines, bingo is ultimately unpredictable. A player's skill or knowledge is useless as everything is based on "luck".

2.2. However, for betting like horse racing, boxing matches and even poker, a good player, moreover an expert, can predict the outcome of the match. Hence, a player who thinks better than the rest has more chances of winning the pot.

  1. The odds agreed between two (or more) parties to the bet; where there is a house or a keeper, the odds are (quite legally) arranged in favor of the house.

Now, we go to the three types of gambling:

Firstly, we have the casino games. Casino games can be further divided to two: the "beatable" games and the "unbeatable" games. We shall use the earlier variables used to define the two. "Beatable" casino games are games that may require a certain amount of skill, experience and knowledge to win the game. Example of this sub-type includes poker, black jack, and sports betting.

Meanwhile, "unbeatable" casino games are games that are purely random and unpredictable. It requires no skill to win, but players are bound to lose in the long run. Examples of this are baccarat, roulette, and pachinko.

Secondly, we have the non- casino gambling games. These are games that are usually played recreationally and sometimes, without stakes. Examples to this are bingo, lottery, backgammon, and other card games.

And lastly, we have the fixed-odds gambling. Fixed-odds mean that the probability of winning or losing is equal to .5 or 50% each. This kind of gambling is common in sports games like jai alai, horse racing, basketball, football, boxing, and the like. Except for horse racing, which bettors can bet on the second or third horse, all the other examples require players to bet on any of the two competing teams.

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