A contest that requires a purchase to be made in order to qualify for a random drawing. In contrast to sweepstakes, lotteries are considered a form of gambling and are therefore not legal under U.S. Postal Service regulations governing direct mail promotions.
OTB can refer to off-track betting, a gambling practice, or to 'open-to-buy,' a retail inventory management strategy.
A sin tax is a specific type of tax imposed on goods that are considered harmful to individuals and society, such as alcohol, tobacco, and gambling. This tax aims to reduce consumption of these products, improve public health, and generate revenue for the government.
Speculation is the purchase of any property or security with the expectation of obtaining a quick profit as a result of price change, possibly without adequate research. It is often compared to gambling but is different from investment.
The term 'take' can have multiple interpretations depending on the context, ranging from profit realization to the act of seizing property, as well as particular connotations in the securities market.
Vigorish, often referred to as the 'vig,' is a term commonly used to describe usurious rates of interest or the charge taken by a bookmaker on bets.
