Gambling vs. Risk — What's the Difference?

Gambling (also known as betting) is the wagering something of value ("the stakes") on an event with an uncertain outcome with the intent of winning something of value. Gambling thus requires three elements to be present: consideration (an amount wagered), risk (chance), and a prize.

In simple terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences.

The activity of playing a game for stakes or betting on an uncertain outcome.

The possibility of suffering harm or loss; danger.

The business of operating facilities where such activities take place.

A factor, thing, element, or course involving uncertain danger; a hazard

Present participle of gamble

The danger or probability of loss to an insurer.

An activity characterised by a balance between winning and losing that is governed by a mixture of skill and chance, usually with money wagered on the outcome.

The amount that an insurance company stands to lose.

The act of playing for stakes in the hope of winning (including the payment of a price for a chance to win a prize); as, his gambling cost him a fortune.

The variability of returns from an investment.

The act of playing for stakes in the hope of winning (including the payment of a price for a chance to win a prize);

The chance of nonpayment of a debt.

Preoccupied with the pursuit of pleasure and especially games of chance;

One considered with respect to the possibility of loss

To expose to a chance of loss or damage; hazard.

To incur the risk of

(uncountable) The probability of a negative outcome to a decision or event.

(uncountable) The magnitude of possible loss consequent to a decision or event.

The potential negative effect of an event, determined by multiplying the likelihood of the event occurring with its magnitude should it occur.

(countable) A possible adverse event or outcome.

(insurance) A type of adverse event covered under an insurance policy.

(countable) A thing (from the perspective of how likely or unlikely it is to cause an adverse effect).

A borrower (such as a mortgage-holder or person with a credit card).

(finance) A financial product (typically an investment).

(insurance) An entity insured by an insurer.

(transitive) To incur risk of (something).

(transitive) To incur risk of harming or jeopardizing.

(transitive) To incur risk as a result of (doing something).

Hazard; danger; peril; exposure to loss, injury, or destruction.

Hazard of loss; liabillity to loss in property.

To expose to risk, hazard, or peril; to venture; as, to risk goods on board of a ship; to risk one's person in battle; to risk one's fame by a publication.

To incur the risk or danger of; as, to risk a battle.

A source of danger; a possibility of incurring loss or misfortune;

A venture undertaken without regard to possible loss or injury;

The probability of becoming infected given that exposure to an infectious agent has occurred

The probability of being exposed to an infectious agent

Expose to a chance of loss or damage;

Take a risk in the hope of a favorable outcome;