To distinguish gambling from risks involved in legitimate venture it will be helpful to recognize three factors integral to gambling: (1) An incentive consisting of money or merchandise is offered. (2) The prize is acquired primarily on the basis of chance. (3) A payment of money or other consideration is required to become involved in the chance taken.
Gambling then is recognized as any activity in which wealth changes hands, mainly on the basis of chance and with risk to the gambler. Creative effort, useful skills, and responsible investment are not integral factors.Click here to read the entire paper.