Gambling is a form of risk-taking in which people exchange money or other valuables for an outcome that’s determined at least partly by chance. It can be as simple as putting money on a team to win a football match, or as complex as online poker or DIY investing. While some skills can improve the odds of winning, gambling is still a game of chance and nobody knows for sure what the outcome will be. This article explains what gambling is, how it works, and some of the myths surrounding it.
Many adults enjoy the excitement and rush of gambling, and many are able to gamble responsibly without a problem. However, gambling can also become an addiction that disrupts relationships, interferes with work, and leads to financial disaster. It can even lead people to do things they never imagined they would, like stealing money to gamble. A gambling disorder can affect anyone, from any walk of life.
In the US, it’s estimated that 2.5 million people have a severe gambling disorder. In addition, between 5-8 million people have a less serious gambling disorder that still affects their lives in some way. For some people, the disorder may not be recognized or treated and can lead to serious problems in their personal lives. For others, it can even lead to criminal behavior, such as armed robbery or fraud.
A number of factors can increase the risk of a person developing a gambling disorder, including genetics, past experiences with family members who had a gambling problem, and the environment in which they grow up. It can also be influenced by psychological and social circumstances such as poverty, stress, and depression. It can also be triggered by certain medications such as antidepressants, psychotropic drugs, and alcohol use.
When does gambling become a problem? For a gambling problem to be diagnosed, a person’s gambling behavior must interfere with their daily functioning and cause them distress. In addition, the person must experience a loss of control over their gambling behavior.
Some of the warning signs of gambling disorders include thinking about gambling all the time, a desire to bet more money and more often, and chasing losses (trying to get back what you’ve lost). However, the current version of the Diagnostic and Statistical Manual of Mental Disorders (DSM) that informs psychologists, eliminated one of these warning signs (criminal behavior).
It’s important to know how to identify a gambling disorder so you can take action. If you think you or a loved one is struggling with this disorder, start by setting boundaries in managing money. Consider taking over the management of family finances, and reviewing bank and credit card statements. Also, try to connect with support groups for people who are dealing with a gambling disorder and speak with a counselor to discuss local referral resources. These can include certified gambling counselors or intensive treatment programs for those with a severe gambling disorder who need round-the-clock care.