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Organizations that oppose gambling will often claim that gambling has no benefits. This isn’t true. Beyond the enjoyment we experience, many forms of gambling can teach useful skills. Blackjack, for example, teaches us about odds, variance, and money management. Placing bets on horse racing can also teach people an enormous amount on odds and probabilities, as betting on different horses offers different payouts for winning. Even those with limited mathematical backgrounds quickly learn that betting $5 on a horse with 14-1 odds will pay them back $70 for a win. Similar skills can be learned with sports betting.
While these and some other forms of gambling can provide some skill development, none offers the opportunity to develop real world skills like poker.
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