Whether it’s buying a lottery ticket, placing a bet or playing the pokies, gambling is a form of risk-taking in which people stake something valuable in hopes of winning a prize. It can happen at casinos, racetracks, church halls, sporting events and online. While gambling may not be as addictive as substances like cocaine or heroin, it can still be harmful if you don’t manage your finances or don’t have any other interests to fill the gap left by a loss of money.

A staking strategy is important when gambling, especially when you’re trying to limit your losses. For example, you can use bankroll management techniques, such as limiting your total bet amount or setting spending limits on your computer. You can also reduce your risk by controlling your cash and not carrying credit cards around with you. It’s also important to recognise the psychological factors at play in gambling, such as the gambler’s fallacy (the belief that you will soon recoup your lost money).

The first step to treating gambling addiction is recognising that there is a problem. It can take courage to admit this, especially if you’ve lost a lot of money and have strained or broken relationships along the way. But there is hope for recovery, and you can start with talking to a therapist about your concerns.

In addition to a therapist, you can also reach out for support and seek help from other sources, such as a peer support group for gamblers or a self-help family group like Gam-Anon. You can also try taking a break from gambling, by reducing time spent at casinos or other venues, or by engaging in activities that don’t involve betting or gambling, such as exercising, socialising with friends or volunteering.

If you’re supporting a loved one who has a gambling disorder, it’s important to set boundaries and establish your own support network. You should also consider educating yourself about the disorder and its treatment, so you can talk knowledgeably about it with your loved one and make better decisions about their gambling. It’s also important to learn more about the resources available, such as a national helpline or local treatment and rehab programs.