Tom talks about gambling, is always at the casino/horse races, and brags about how much he W/L. Which BEST describes Tom

Tom is addicted to gambling & may need professional help to control himself

Which of the following statements is an opportunity cost associated with gambling?

If you spend your $ at the casino, you can't add it to your savings account

Which statement is supported by current trends in the gaming industry?

The popularity of online gambling is increasing

The odds of winning most games are

In favor of the sponsor, not the player

Which of the following could be considered a social benefit of local casinos?

Increased jobs in a local community

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Questions 13

Answers

1
Tom talks about gambling, is always at the casino/horse races, and brags about how much he W/L. Which BEST describes Tom
Tom is addicted to gambling & may need professional help to control himself
Tom has a problem, but he can stop whenever he wants to
Tom enjoys gambling & wins more than he loses; Otherwise, he would stop
Tom may have a problem, but people should leave him alone, he's not hurting
2
Investing in the stock market is basically a form of
Independent events
Equal events
Dependent events
gambling
3
Which of the following statements is an opportunity cost associated with gambling?
Winning increases your desire to continue gambling
If you spend your $ at the casino, you can't add it to your savings account
If you spend more at the casino, you can improve your odds of winning
The lottery generates $ for education in Oklahoma
4
The likelihood that something will happen is called
Probability
Predictability
5
_____ occurs when you have some knowledge about the outcome of your choices?
Gambling
Strategy
Predictability
Probability
6
Which statement is supported by current trends in the gaming industry?
People who gamble are beating the odds at casinos
The popularity of online gambling is increasing
The number of people who gamble is decreasing
Fewer people have gambling problems
7
The odds of winning most games are
In favor of the sponsor, not the player
In favor of the player, not the sponsor
Designed to give both the player and the sponsor equal odds
Designed to allowing players to improve their chances of winning
8
By increasing the number of lottery tickets you buy, you improve your ____ of winning.
fun
Strategy
Predictability
Probability
9
Which of the following could be considered a social benefit of local casinos?
Increased jobs in a local community
Increased number of attorneys needed for new bankruptcies
Increased counseling jobs for people with gambling addictions
Increased revenue from advertising sales
10
Powerball is an example of a dependent event
False
True
11
Flipping a coin is an example of
a dependent event
a gambling strategy
an independent event
a strategic plan
12
The money used for gambling should be budgeted as entertainment and not needed to pay necessities.
True
False
13
People at lower icome levels use a larger percentage of their income to buy lottery tickets
False
True

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