Gambling is any activity in which a person stakes something of value, such as money or goods, on an event that has the potential to produce a positive outcome. People gamble in casinos, racetracks, at sporting events and online. Some forms of gambling require skill and knowledge, such as poker or playing a game of chance. Other forms of gambling are not so skill-based, such as buying a lottery ticket or scratchcard. In both cases, the money invested in these activities is matched to ‘odds’ which determine how much you could win.
Some people are at a greater risk of developing a problem with gambling than others. Men appear to be more vulnerable than women, which is probably because they gamble less, but it is possible for anyone to develop a gambling problem. The risk can be particularly high for young people who participate in the newer forms of gambling such as sports betting or video games.
There are some psychological theories that help to explain why some people develop a gambling addiction. Zuckerman’s theory of sensation-seeking suggests that people may take risks in order to experience states of high arousal or excitement. Cloninger’s theory of self-medication also suggests that people who gamble may do so in order to feel better about themselves. Other research shows that individuals who win more often are more likely to gamble again, and that the intensity of their gambling behavior increases with each successive win.
A growing number of people are struggling with gambling problems. It is estimated that 2.5 million Americans have a severe gambling disorder (as defined in the Diagnostic and Statistical Manual of Mental Disorders), and another 5-8 million have a less serious problem. Problem gambling can damage personal relationships, impair performance at work or at school, and lead to debt and even homelessness. It can also increase the risk of suicide in some people, and has been associated with a higher rate of suicide than many other drugs or alcohol.
The good news is that gambling disorders are treatable and reversible. The key is to recognize warning signs and to seek professional help. These include a compulsion to gamble, repeated attempts to reduce or stop gambling, lying about gambling behavior, and financial hardship.
If you suspect that you have a gambling problem, try to set boundaries for yourself. Only bet with money that comes out of your entertainment budget, avoid ATM machines and lines of credit, and limit the amount of time you spend gambling. It is important to remember that you will always lose some of your money. The more you gamble, the more you will lose. If you cannot control your gambling, see a doctor or therapist to discuss local referral resources for certified gambling counselors and intensive treatment programs in your area. If you have a family member who has a gambling problem, try to support them by setting limits in their use of electronic devices and social media, and by helping them review their bank and credit card statements.