Gambling definition, the activity or practice of playing at a game of chance for money or other stakes. See more. The activity of playing a game for stakes or betting on an uncertain outcome. 2. The business of operating facilities where such activities take place. American. Define gamble: to play a game in which you can win or lose money or The mayor is gambling that the new policies will help rather than hurt the city. Translate your text for free. The Gathering can be played with the collectible game pieces as stakes, resulting in a meta-game regarding the value of a player's collection of pieces. Gambling as play Herman, Please enter your email address: The involvement of governments, through regulation and taxation, has led to a close connection between many governments and gaming organizations, where legal gambling provides significant government revenue, such as in Monaco or Macau, China.