Gambling is the betting or staking of something of value, such as money or items of value, on an event with an uncertain outcome, with the primary intention of winning additional money and/or material goods. This can include activities such as lotteries, casino games, sports betting or online gambling.
People gamble for many reasons – from social or family connections, to escape from everyday life and the excitement of winning a jackpot. Some may even find that the rush or high that is often experienced while gambling can become addictive and difficult to quit.
But gambling is not just about the winnings and losses, it is also about risk. The risks can be real and potentially serious, not just to the individual but their families, friends and colleagues. It is important to understand the difference between normal gambling and pathological (or compulsive) gambling, as this will help you to make more informed choices about whether or not to gamble.
Pathological gambling (PG) is a complex disorder characterised by maladaptive patterns of behaviour. The disorder has been around for centuries and is now included in the fifth edition of the Diagnostic and Statistical Manual of Mental Health Disorders (DSM-5), published by American Psychiatric Publishing). Approximately 0.4-1.6% of Americans meet criteria for PG and the symptoms usually start in adolescence or young adulthood and progress over several years. Males tend to develop PG at a younger age and report problems with more strategic or face-to-face forms of gambling, such as poker or blackjack, while women seem to have more difficulty with nonstrategic or less interpersonally interactive forms of gambling, such as slot machines or bingo.
The basic structure of a gamble is fairly straightforward: the bettor chooses what they want to bet on, for example, a football team or scratchcard game. The choice they make is matched to the ‘odds’, which are determined by the betting company and tell them how much money they could win if they predict the outcome correctly. If they win, they keep the money; if they lose, they forfeit it.
Gambling is a highly addictive activity and, if not managed carefully, can have devastating consequences. It is essential to talk about any gambling issues with somebody you trust who will not judge, such as a family member or friend. It is also worth trying to reduce financial risk factors and avoid using credit cards or taking out loans to fund gambling. Also, finding an alternative recreational or social activity can fill the void left by gambling and help prevent it from becoming a problem. Finally, setting short-term and long-term goals can also be helpful to keep you on track when it comes to gambling. These strategies can be very effective in stopping gambling altogether or at least reducing the amount of time you spend playing.