Gambling creates the hazard, making the gain or loss of income depend on an event that is not a necessary part of productive enterprise.

Typical gambling is the transfer of wealth on the outcome of events absolutely unpredictable, so far as the two gamblers are concerned.

Examples are the shaking of unloaded dice or the honest dealing of a pack of cards, and the betting on prices in so-called "bucket-shops" by persons having no connection with the market of real things, and seeking to get something for nothing as a result of mere chance.
Cheating is not a necessary mark of gambling, altho the cruder forms of dishonesty, such as the loading of dice or the collusion of horse-owners or of horse-jockeys to deceive the betting public, are so common that they seem often to be an essential feature.

Gamblers recognize fair as opposed to unfair methods.

Fair gambling is a kind of minor morality within the immoral field of gambling, like the honor found among thieves.