GAMBLER

One who seeks profit by taking noncalculated or man-made risks. If one flips a coin to determine his course of action, he is gambling as to the outcome. If one bets on the horses, the outcome of a sports event, or some other man-made event, he is gambling. A gambler is distinguished from a speculator in that a speculator could profit from price change if he knew enough about the supply and demand factors used to determine price. He also trades economic goods, thus benefitting mankind.