Gambling involves wagering money or something of value on an event with an uncertain outcome, with the hope of winning a larger sum of money or prize. The outcome of gambling is determined largely by chance and luck, rather than skill or effort. Examples of gambling activities include casino games like slot machines, roulette, and blackjack, as well as sports betting and lotteries.
Competition, on the other hand, involves individuals or teams striving to achieve a goal or win a prize through skill and effort. The outcome of a competition is generally determined by the performance of the participants, rather than chance or luck. Examples of competitive activities include sports, contests, and games that require skill and strategy, such as chess or poker.
While both gambling and competition may involve a degree of risk and reward, the main difference between them is the extent to which skill and effort play a role in determining the outcome.
Well, perhaps that has a point. But I think you also know what I mean about gambling
Some even say that life is a gamble because we don't know whether our efforts now can give us good results or whether we will fail and try again. I got it from chatting with several people about life, gambling, effort, and the results obtained.
Maybe there is a fine line between gambling and competition that you mean so that some say it is gambling while others say it is not. And many of us say that it isn't gambling as long as it doesn't involve money.
Your example is considered as gambling because you have something to lose (regardless of if it is money or not) since you'll treat your friends for being the one who lose the bet. It is also quite common for us to have bet with family or friends in something but it doesn't involve money directly as the price, it's still gambling.
However, if the prize is replaced by money, but you'll not lose anything if ever you didn't win then it is not gambling. The prediction contest without asking you to risk your money is like a giveaway though the chance to win is slim.
Well, I think so because sometimes I am in a situation like that. Maybe not for those who have never or rarely been in the same situation. But I don't know. People have different perceptions about this. Perhaps, it seems that it depends on the object or subject so that it can be categorized as gambling or competition.