Gambling & Lottery - Unionpedia, the concept map

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Difference between Gambling and Lottery

Gambling vs. Lottery

Gambling (also known as betting or gaming) is the wagering of something of value ("the stakes") on a random event with the intent of winning something else of value, where instances of strategy are discounted. A lottery (or lotto) is a form of gambling that involves the drawing of numbers at random for a prize.

Casino

A casino is a facility for certain types of gambling.

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Elizabeth I

Elizabeth I (7 September 153324 March 1603) was Queen of England and Ireland from 17 November 1558 until her death in 1603.

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Expected value

In probability theory, the expected value (also called expectation, expectancy, expectation operator, mathematical expectation, mean, expectation value, or first moment) is a generalization of the weighted average.

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Gambling Commission

The Gambling Commission is an executive, non-departmental public body of the Government of the United Kingdom responsible for regulating gambling and supervising gaming law in Great Britain.

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Gambling mathematics

The mathematics of gambling is a collection of probability applications encountered in games of chance and can get included in game theory.

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Insurance

Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury.

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Keno

Keno is a lottery-like gambling game often played at modern casinos, and also offered as a game in some lotteries.

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Raffle

A raffle is a gambling competition in which people obtain numbered tickets, each of which has the chance of winning a prize.

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Scratchcard

A scratchcard (also called a scratch off, scratch ticket, scratcher, scratchum, scratch-it, scratch game, scratch-and-win, instant game, instant lottery, scratchie, lot scrots, or scritchies) is a card designed for competitions, often made of thin cardstock or plastic to conceal PINs, where one or more areas contain concealed information which can be revealed by scratching off an opaque covering.

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Value (economics)

In economics, economic value is a measure of the benefit provided by a good or service to an economic agent, and value for money represents an assessment of whether financial or other resources are being used effectively in order to secure such benefit.

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