British Dictionary definitions for gambling Expand. One of the most widespread forms of gambling involves betting on horse or greyhound racing. Lotto games and dominoes precursors of Pai Gow appeared in China as early as the 10th century.gap au online PIE AND BOVRIL GAMBLING FORUM gambling meaning, definition, what is gambling: the activity of betting money, for example in a game or on a horse race. Learn more. He's been drinking and gambling heavily. He would often gamble hundreds of dollars on a hand of poker. The mayor is gambling with the city's future. Definition of gambling: Betting (wagering) that must result either in a gain or a loss. Gambling is neither risk taking in the sense of speculation (assumption of.