While formal gaming establishments like a casino or lottery have the odds to be stacked in their favor to stay in business, informal gaming, like a poker night at a friend’s house, carries no built-in disadvantage for the players. But that doesn’t mean gambling in a social setting is necessarily a safe bet.

Just because there’s no house edge, you’re not guaranteed to win. Ask yourself: Why are the people you play poker with willing to gamble? Odds are they’re pretty good too, and you might find yourself losing more than if you’d played in a casino.

Don’t forget that should you win, somebody else loses. Unlike games like slots at a casino, if you win a bet with a friend on a basketball game, it means your friend loses money. If you win enough to make money at gambling, people might not think your gambling is so “friendly” after all.

Win or lose, gambling with friends is best thought of as entertainment – not trying to make money.