Gambling is the practice of placing something of value (often money) at risk in the hopes of reaping greater gains. Gambling is a global industry estimated at an estimated total market value of US$335 billion and commonly involves betting on sports events, horse races or casino games; it can also involve online gambling and lottery-style contests.
Problem gambling can cause irreparable harm to both individuals and their families, including relationship breakdown, financial strain, family violence and mental illness. These effects may even extend into adulthood and affect multiple generations.
There are various strategies available to people looking to reduce the risks of gambling. They may use support groups, find alternative activities and avoid places where gambling might occur. They could also take measures such as closing accounts or uninstalling gambling apps from devices. They should ensure they get enough rest and nutrition; and seek assistance from StepChange for free debt advice if they find themselves in financial difficulty.
Gambling can be done for various reasons other than money. Socializing with friends, improving mental health or just passing the time may all be reasons to gamble responsibly; most people enjoy gambling moderately but uncontrolled it can become harmful and addictive.
Gambling releases dopamine, a chemical which makes you feel excited. The high can be so strong that even when you know you’re losing, the dopamine rush keeps coming, leading to financial difficulties and borrowing or selling items not needed for gambling debts. Furthermore, gambling may cause family and relationship strain as well as depression or thoughts of suicide.
Career gamblers may be able to make a comfortable living from gambling and use the earnings for food or clothing needs. Gambling may offer a lucrative and secure form of employment.
Numerous religious communities oppose gambling despite not explicitly being mentioned as a sin by the Bible, while stigma surrounding addiction to gambling may make some deny they have a problem and not seek assistance. Therefore, prevention measures such as ending gambling advertising or universal pre-commitment systems that require those who gamble to set binding time/money limits for themselves is key in order to minimize problematic gambling risk. Furthermore, making gambling less accessible through reduced availability/access should also help. It should be noted however, that economic benefits from gambling vary and so shouldn’t be discounted either