The debate, whether gambling falls into a category of games of skill or games of chance is never ending. In most games, skill and chance are combined, however – obviously – talent has to be the primary factor when we are talking about games of skill.
So what is the tiny line between these two forms of gambling? Or are games of skill considered to be gambling at all? Here we are to make a clean breast of this controversial question:
The difference between Games of Skill & Games of Chance
Games of skill implies the players’ ability to accomplish a game after practicing and learning some techniques. Briefly, after learning the particular skill, one will be able to play well. Mental or technical skills are involved here, starting from reaction to logic abilities or strategic thinking.
In many countries this version of gaming is out of the category of gambling, therefore they are not prohibited. Popular games including chess, poker, Arcade games, Word Games and Fantasy Sports belong to this category because they are based on different skills.
However, in terms of games of chance, the whole game depends on the luck factor. The final outcome of the game is determined by fate and luck instead of practical skills. Therefore, these games are considered gambling. Games like dice, playing cards, roulette belong to this field. Here, the outcome of the game is influenced by rather chance or a randomizing device then a skill.
And why gambling is not a games of skill?
As it is said in a report published by live mint, ‘gambling is the act of wagering or betting for money, or money’s worth.’ According to this report, betting on horse races and games of skill are excluded from the general meaning of gambling. According to business dictionary, gambling is neither risk taking, nor investing. However, betting can result in both, gain and loss. So games of skill are out of the category of gambling in general, however in many states and countries laws have a different interpretation about this question.