Is it legal to play games for money?

Is it truly legal to engage in gaming activities that involve monetary transactions? I'm curious to know if there are any legal restrictions or regulations surrounding this practice, especially in the realm of online gaming and cryptocurrency-based gambling platforms. Do different jurisdictions have varying laws on the matter, and if so, what are the main considerations that players should be aware of before participating in such activities? Additionally, are there any specific risks or consequences associated with playing games for money that individuals should be mindful of?