Amavasya, the second day of Deepawali, marks the worship of Lakshmi, the goddess of wealth in her most benevolent mood, fulfilling the wishes of her devotees. Amavasya also tells the story of Lord Vishnu, who in his dwarf incarnation vanquished the tyrant Bali, and banished him to hell.

Bali was allowed to return to earth once a year, to light millions of lamps to dispel the darkness and ignorance, and spread the radiance of love and wisdom. It is on the third day of Deepawali — Kartika Shudda Padyami that Bali steps out of hell and rules the earth according to the boon given by Lord Vishnu. The fourth day is referred to as Yama Dvitiya and on this day sisters invite their brothers to their homes.

All the simple rituals of Diwali have a significance and a story to tell. The illumination of homes with lights and the skies with firecrackers is an expression of obeisance to the heavens for the attainment of health, wealth, knowledge, peace and prosperity. According to one belief, the sound of fire-crackers is an indication of the joy of the people living on earth, making the gods aware of their plentiful state. Still another possible reason has a more scientific basis: the fumes produced by the crackers kill a lot of insects and mosquitoes.

The tradition of gambling on Deepawali also has a legend behind it. It is believed that on this day, Goddess Parvati played dice with Lord Shiva, and she decreed that whosoever gambled on Diwali night would prosper throughout the ensuing year. — About.com (Concluded)