Gambling games are those that involve a player risking something of value (often virtual currency) in the hope of winning something of greater value. They may be based on skill or chance, or a combination of both. Examples include poker, horse races, boxing, numerous playing-card and dice games, recreational billiards and darts, cockfighting and jai alai. The game can also be played by computerised means such as online casinos or by telephone or television.
Gambling is a multi-billion dollar industry that has become highly regulated in many countries. Its popularity has led to the development of a wide range of gambling-related software and hardware, including computerised betting terminals and online casinos. However, the proliferation of these technologies has raised concerns that gambling can be facilitated without the necessary level of regulation.
The emergence of a global Internet-based gambling industry has created new challenges and opportunities for regulators, and this article will examine the regulatory landscape and current trends in online gambling. It will also consider how technology has contributed to the convergence of gaming and gambling.
In most gambling games it is customary to express the idea of probability in terms of odds against winning, which are simply the ratio of the unfavourable possibilities to the favourable ones. For example, if the probability of throwing a seven is 1/6, on average one throw in six will be favourable and five will not; thus the odds are 5 to 1. However, this expression can lead to confusion because it can be misinterpreted as meaning that only the chances of throwing a seven are considered unfavourable and this can be misleading.
A type of wager where a player bets against a team that is predicted to win a particular game. Also known as a lay bet or point spread.
iGaming has seen massive growth in recent years and a deep understanding of gambling terminology is a necessity for translation and localization professionals who work in this sector. Accuracy and market sensitivity are non-negotiables when working in this sector, as a wrong word or phrase can spell disaster for a brand’s reputation.
Increasingly, video games are being used to generate revenue through the inclusion of loot boxes and other mechanics that are based on chance. These types of features have raised concerns over the legality and ethical implications of gambling in video games, especially when they are used to generate real-world currency. Despite these concerns, there is minimal regulation and inconsistent classification of simulated gambling games, which could be improved by standardization and the addition of advisory warnings. The article discusses these issues and suggests ways to improve the classification and warning systems in future video games. This will ensure that players are adequately informed of the risks involved and can make their own decisions about whether to gamble or not. The authors would like to thank Dr John Snider for his assistance in this article. This article is based on research conducted for the e-GAMES project, an international multi-country study investigating gambling in electronic games.