Gambling, in general, is defined as betting on any event with an uncertain outcome.meditation to stop gambling NEW GAMBLING LAW CANADA As verbs the difference between wager and gamble is that wager is to bet something; to put it up as collateral while gamble is to take a risk, with the potential of a positive outcome. "A wager is an agreement between parties, differing as to an uncertain fact or forecast of a future event, that, on the transpiring of what It was there said: 'It makes no difference that a debt or wager is made to assume the form of a contract. Gambling is none the less such because it is carried on in. Learn more about the differences between gaming and gambling. Whether they’re wagering money at a land-based casino or in the back of their local pub, they’re not ashamed to admit that they’re gambling.