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starting a new business, as time and effort are also being wagered and the outcome is not determined in a short period of time
The 63-acre project on the north end of the Las Vegas Strip is called Echelon Place and will feature an eclectic blend of four upscale hotels, a 140,000-square-foot casino, spas, theaters, convention center and retail outlets. The project is planned for completion in 2010.
Gambling has had many different meanings depending on the cultural and historical context in which it is used. Currently, in western society, it generally has an economic definition and meaning and typically refers to "wagering money or something of material value on something with an uncertain outcome in hope of winning additional money or material goods". Furthermore:
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Wagering may take place through parimutuel pools; or bookmakers may take bets personally. Parimutuel wagers pay off at prices determined by support in the wagering pools, while bookmakers pay off either at the odds offered at the time of accepting the bet; or at the median odds offered by track bookmakers at the time the race started.
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This definition of gambling usually excludes:
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