Gambling is the risking of something of value, usually money, on an activity that involves a significant element of chance and the expectation of winning something else of value. Although most people gamble at some point, a small percentage of people develop a gambling problem and continue to gamble despite serious negative personal, family, and financial consequences. The onset and progression of a gambling problem is associated with several features, including sensation-seeking, arousal, and impaired impulse control.
The concept of gambling has existed in virtually every society since prerecorded history, and it has been incorporated into local customs and rites of passage throughout the world. Today, more than a trillion dollars is legally wagered each year around the globe (and illegal betting is likely far higher). While many forms of gambling exist, most involve some form of skill; knowledge of strategies may improve a player’s odds in card games or in certain sports bets, for example. Thus, gambling is distinguished from insurance (a transfer of risk to another party) and actuarial calculations (calculated premiums to achieve long term positive expected values).
While most individuals enjoy gambling as a social activity, a small group of people become excessively involved in terms of time invested and money wagered. In this article, we will discuss what defines a gambling problem and provide advice on how to recognize and cope with one.
Regardless of how it is measured, a person’s gambling habit has a serious impact on their health and well-being. Problem gambling can cause severe emotional distress, impaired relationships, strained work and school performance, and financial difficulties. Those who are concerned that they or someone close to them has a gambling problem should seek help immediately.
A common myth is that only a few individuals have a gambling disorder, but anyone can develop one. A person can begin gambling at any age, and problems can develop in young children as well as adults. Those who feel isolated or lonely are also more likely to be attracted to gambling.
Some people who struggle with gambling may be able to manage their addiction on their own, but most do best when they receive professional help. Treatment can include medication and psychotherapy. A peer support group such as Gamblers Anonymous can also be helpful in regaining control over one’s life. In addition, families of those with a gambling problem can benefit from counseling and from setting boundaries in managing their loved ones’ credit and finances. It can also be helpful for family members to seek out their own support networks, such as other families that have dealt with problem gambling. This can help them realize that they are not alone and that others have successfully fought this battle.