Gambling is the act of risking something of value (money, property or materials) on a random event with the aim of winning something else of value. It is often regarded as an activity with high social and emotional costs and can cause harm to individuals and society as a whole. It is a well-recognised public health issue with significant economic, social and personal consequences. It is a complex domain, and research is needed to inform appropriate gambling harm reduction strategies.
Gambling includes a wide range of activities, both legal and illegal. It can take many forms, from playing card games with friends in a home setting, to placing bets on football matches or horse races with colleagues. More formalized forms of gambling include lottery tickets, casinos, fixed-odds betting terminals (FOBTs), sports bets and street magic boxes. All forms of gambling have one thing in common: the element of chance. While it is often considered to be immoral and illegal, gamblers place a high value on the unpredictable nature of events and the excitement of potentially winning something.
In order to reduce the impact of gambling, it is important to recognise its risks and understand the factors that influence an individual’s choice to gamble. A wide range of psychological and socio-cultural influences can shape an individual’s behaviour, including their motivations to gamble, the social environment in which they are exposed to gambling and the ways in which they perceive odds and probability.
There is also a growing understanding that gambling can be a form of addiction, with a similar risk profile to other addictive substances. It is estimated that up to 7% of people will develop a gambling problem, and it can affect all types of gamblers – from those who play the lottery to those who visit casino websites. Moreover, it has been shown that gambling can lead to higher levels of depression, stress and anxiety and can interfere with relationships, work performance, studies, and other interests.
The key to reducing the harmful effects of gambling is to ensure that it is not used as a replacement for other activities or to mask symptoms of mental illness. It is therefore vital to address underlying mood disorders, such as depression or anxiety, as they can both trigger gambling problems and be made worse by compulsive gambling.
Those who have developed a gambling problem should seek help from a mental health professional. They can provide support and guidance, as well as refer them to other services in their community. It is also a good idea to seek support groups for gamblers and their family and friends, such as Gamtalk. These moderated peer-support chats are available online 24/7. Finally, it is important to only gamble with money that is disposable, and never with any funds that you need for other purposes. Also, be sure to have a plan of action in place for when you do run out of cash and need to stop.