The term bet or wager   (A) means the staking or risking by any person of something of value upon the outcome of a contest of others, a sporting event, or a game subject to chance, upon an agreement or understanding that the person or another person will receive something of value in the event of a certain outcome; ...

Statistically, gambling is not a smart way to make money. The odds are against the gambler, with the house having a built-in mathematical advantage that grows over time.

Casino gambling generally isn't a good way to make cash. Online casinos stack the odds against players by implementing house edge tactics. The longer you play, the more likely it is that you'll lose money. The house edge does, of course, vary.