Gambling is the placing of a bet with money or something else of value on an event whose outcome depends on chance. It may involve a game of chance, like poker or blackjack, or it may be a skill-based activity such as golfing or horse racing. The act of gambling can also be a social activity, such as betting on a sports event with friends. While many people enjoy gambling as entertainment, it can cause harm in a small percentage of individuals. In some cases, the addiction to gambling can lead to a psychological disorder, referred to as pathological gambling.
Problematic gambling is defined as a recurrent pattern of behavior characterized by loss of control, distress or impairment, and the inability to stop gambling. It is also a psychiatric condition and is included in the Diagnostic and Statistical Manual of Mental Disorders (DSM) under the category of compulsive gambling. It is estimated that between 5% and 10% of people who gamble develop this condition. Those with low incomes are particularly vulnerable to developing gambling disorders.
In addition, people who have a family history of problem gambling are more likely to develop an addiction. Many people with this condition attempt to self-medicate the symptoms by using alcohol or drugs, which can exacerbate the gambling disorder. It is also common for those with a gambling disorder to lie about their activities or hide evidence of their gambling, which can make it difficult for family and friends to realise that they have a problem.
A person can be addicted to gambling for a variety of reasons, including boredom, stress, or even depression. It is important to learn healthier ways of relieving unpleasant emotions, such as exercise, spending time with friends who do not gamble, or relaxation techniques.
It is also important to never chase your losses, as this can lead to serious financial problems. Continuing to gamble when you are losing can mean that bills don’t get paid and debts accumulate – which is often the trigger for turning to pay day loans or other forms of unmanaged borrowing.
It’s also worth remembering that online casinos and video games with gambling elements can be just as addictive as traditional casinos. A recent study of popular video games found that nearly half contained loot boxes that could be considered gambling, with players risking real-world money in exchange for virtual goods. Some of these games are rated as suitable for children, and it is estimated that over 5% of adolescents and young adults develop gambling disorders. These can have a devastating impact on the life of those affected and their families. A growing number of organisations offer support, assistance and counselling for those suffering from problematic gambling, including inpatient or residential treatment programmes. These can be accessed via private healthcare providers or NHS services, depending on the individual’s needs.