Game of chance

A game of chance is a game whose outcome is strongly influenced by some randomizing device, and upon which contestants may choose to wager money or anything of monetary value. Common devices used include dice, spinning tops, playing cards, roulette wheels, or numbered balls drawn from a container. A game of chance may have some skill element to it, however, chance generally plays a greater role in determining the outcome than skill. A game of skill, on the other hand, also has an element of chance, but with skill playing a greater role in determining the outcome.

Any game of chance that involves anything of monetary value is gambling.

Gambling is known in nearly all human societies, even though many have passed laws restricting it. Early people used the knucklebones of sheep as dice. Some people develop a psychological addiction to gambling, and will risk even food and shelter to continue.

Some games of chance may also involve a certain degree of skill. This is especially true where the player or players have decisions to make based upon previous or incomplete knowledge, such as blackjack. In other games like roulette and punto banco (baccarat) the player may only choose the amount of bet and the thing he/she wants to bet on; the rest is up to chance, therefore these games are still considered games of chance with small amount of skills required.^[1] The distinction between 'chance' and 'skill' is relevant because in some countries chance games are illegal or at least regulated, but skill games are not.

See also

• Probability theory
• Poker probability
• Psychology
• Stochastic process
• Game classification
• Monty Hall problem
• Game of skill
• Russian Roulette

References

1. "Baccarat Strategy Guide". CasinoObserver.com. Retrieved 2013-03-06.