Gambling is the wagering of money or stakes on an event with an uncertain outcome with intent of winning additional money. This activity is characterized by a balance between winning and losing. The outcome is governed by a mixture of skill and chance. In most Western societies, gambling is perceived as a harmless or low-risk social activity. Although money is used as a means to pursue gambling activities most people don’t play just for money. The fun and excitement experienced gambling helps many to escape and forget about their problems.
Gambling has grown at an unprecedented rate over the last decade and is an increasingly popular recreational activity in many countries of the world. In the recent years it has spread out side United States and developed European nations to conservative countries like Malaysia, Philippines, and Latvia etc, gambling is gaining popularity. Malaysia offers all types of gambling. Although gambling is legal in Malaysia it allowed only for non-Muslims. The games range over casino gaming, horse racing, slot machines and the lottery. Few leaders even consider gambling in Malaysia as a strategy to make Malaysia a developed nation.
In the past few decades the Philippines has become the gambling lords’ paradise. The Philippines have aimed to become Asia’s next big gambling hub with casino and entertainment resorts to be built in tourist spots across the country. It has a very huge potential in terms of revenues. Similarly the first games of Gambling were organized in early nineties. There has been a rapid development in early nineties due to the regaining of independence. This increasingly growing acceptance of gambling in less modern markets like Malaysia, Philippines and Latvia has transformed gambling market into one of the major international commercial activity.