Various television shows over the years have depicted comical scenarios in which characters find themselves betting on anything and everything. As we all know, gambling can be a slippery slope and can even be addicting, but it comes with a lot less guilt if you're doing it for charity.

Read More: 13th Annual 'Pastels on 5th' in Loveland - Photos |

Interestingly, the mountain town of Evergreen, Colorado has kept a tradition of this nature going for nearly 17 years and various charitable organizations and causes have benefitted from it.

Keep scrolling to learn about the annual Evergreen Ice Melt Contest.

Evergreen Colorado's Annual Ice Melt Contest

In the winter of 2006/2007, the Mountain Foothills Rotary Club in Evergreen, Colorado held a contest that would become an annual tradition.

Each year, a yellow bucket is placed on a stand on Evergreen Lake and participants are given a specific span of time to place bets on when the ice will melt enough for the bucket to fall in.

This year's contest is currently taking place but bets will only be accepted until this coming Sunday, March 17 and proceeds will benefit Evergreen Christian Outreach, Evergreen Parks & Recreation Department INSPIRE - Special Needs Program, Crutches 4 Africa, as well as the organizers of the event, the Mountain Foothills Rotary Club.

Last year, the bucket fell in on April 14th, and this year's first-place price is $1000 with the second-place ticketholder receiving $500, third place receiving $250, and fourth place will walk away with a $125 prize.

For more information on the charities, how to enter the contest, and any further information visit the Mountain Foothills Rotary Club's official website.

Flashback: Winter Park Colorado Pond Skimming in 1976

Take a look back in time and see the wackiness that went on at Winter Park’s closing day in 1976.

Gallery Credit: Nate Wilde

Flashback: What it was Like Skiing in Aspen in 1965

Take a look back in time to what it was like to ski in Aspen back in 1965.

Gallery Credit: Nate Wilde

FLASHBACK: Crested Butte Colorado Back in the Good Old Days

A skiing band, a hot tub on the mountain, and bellbottoms are just some of the things you must see from this trip back to the good old days of Crested Butte.

Gallery Credit: Nate Wilde