Choosing to enter into a situation with an outcome that is not known with certainty. This can refer to a fair gamble (or even more than fair odds) but colloquial use implies less-than-fair odds. On the assumption that the gambler understands the odds, there are three possible reasons for being willing to gamble when odds are less than fair. One is that the gambler may have a non-concave utility function, with marginal utility increasing over some range of incomes. This means that even if the expected value of losses exceeds that of gains, the benefit from the gains exceeds the damage through the losses. A second reason, which may affect businesses, is that to a gambler already insolvent or close to insolvency, gambling may appear worthwhile because gains can be kept while creditors bear any losses. A third reason for gambling is that people actually enjoy excitement and gamble for pleasure.