Editing Gambling (section)

==Other uses of the term==
{{Original research|section|date=August 2010}}
[[File:Gloria Mundi, or The Devil addressing the sun - Pare. Lost, Book IV LCCN2001695204.jpg|thumb|''Gloria Mundi, or The Devil addressing the sun'', a cartoon showing the British politician [[Charles James Fox]] standing on a roulette wheel perched atop a globe showing [[England]] and [[continental Europe]]. The implication is that his [[penniless]] state, indicated by turned-out pockets, is due to gambling.]]

Many risk-return choices are sometimes referred to colloquially as "gambling."<ref>{{Cite web|url=http://govinfo.library.unt.edu/ngisc/reports/pathch2.pdf |archive-url=https://web.archive.org/web/20030308071540/http://govinfo.library.unt.edu/ngisc/reports/pathch2.pdf |archive-date=2003-03-08 |url-status=live|title=Gambling Concepts And Nomenclature}}</ref> Whether this terminology is acceptable is a matter of debate:
* Emotional or physical risk-taking, where the risk-return ratio is not quantifiable (e.g., [[skydiving]], [[political campaign|campaigning]] for political office, asking someone for a date, etc.)
* [[Insurance]] is a method of shifting risk from one party to another. Insurers use actuarial methods to calculate appropriate premiums, which is similar to calculating gambling odds. Insurers set their premiums to obtain a long term positive expected return in the same manner that professional gamblers select which bets to make. While insurance is sometimes distinguished from gambling by the requirement of an [[insurable interest]], the equivalent in gambling is simply betting against one's own best interests (e.g., a sports coach betting against his own team to mitigate the financial repercussions of a losing season).
* Situations where the possible return is of secondary importance to the wager/purchase (e.g. entering a [[raffle]] in support of a [[charitable gambling|charitable]] cause)

[[Investments]] are also usually not considered gambling, although some investments can involve significant risk. Examples of investments include [[stock]]s, [[Bond (finance)|bonds]] and [[real estate]]. Starting a business can also be considered a form of investment. Investments are generally not considered gambling when they meet the following criteria:
* Economic utility
* Positive expected returns (at least in the long term)
* Underlying value independent of the risk being undertaken

Some [[speculation|speculative]] investment activities are particularly risky, but are sometimes perceived to be different from gambling:
* Foreign currency exchange ([[forex]]) transactions
* [[Prediction markets]]
* Securities [[derivative (finance)|derivatives]], such as [[Option (finance)|options]] or [[Futures contract|futures]], where the value of the derivative is dependent on the value of the underlying asset at a specific point in time (typically the derivative's associated expiration date)

A ''{{linktext|levant}}'' or ''levanting'' characterises the act of absconding following the outcome of a bet.<ref>
{{oed | levant}}
</ref>