Gambling involves betting something of value on an event that is determined by chance. This activity can be enjoyable for some people, but it can also harm their health, relationships and performance at work or study, put them in serious debt, and even cause them to lose their homes. Problem gambling can also have a negative impact on family, friends and co-workers. In addition, it can lead to problems in other areas of life such as crime, drug use and suicide.
Over half of the population takes part in some form of gambling activity. This could be playing slots, putting money on a football match or buying a scratchcard. Regardless of the activity, gambling involves placing a bet against a fixed amount of money and hoping to win. Gambling is a complex activity and it’s important to understand the risks before you start playing.
Although the majority of people who gamble are able to do so responsibly, some experience serious problems and need help. 2.5 million adults (1%) in the United States are estimated to meet the criteria for a severe gambling disorder, while another 5-8 million (2-3%) have mild to moderate gambling problems. This makes it very important to recognize the signs and symptoms of gambling addiction, as well as the impacts on the person, their loved ones and society as a whole.
A major limitation of previous gambling impact studies has been the inability to measure the social effects. While the personal and interpersonal level costs have been easier to calculate, the community/society level externalities (general cost/benefits, problems related to gambling and long-term costs) have not been included in calculations. This is largely because the social impacts are invisible and therefore difficult to quantify.
There are a number of things that can be done to reduce the harmful effects of gambling. One of the most effective is to talk about your gambling with someone who won’t judge you, such as a friend or professional counsellor. Another is to set a time limit for how long you will gamble and leave when it is up, whether you are winning or losing. You should also try to avoid chasing your losses as this will only make the problem worse.
Many organisations provide support, assistance and counselling for people who are struggling with a gambling problem. They can help you to overcome the problem and get your life back on track. Services can include family therapy and marriage, career and credit counseling. They can also help you to find an alternative hobby or way of socialising that doesn’t involve gambling. You can also join a peer support group, such as Gamblers Anonymous, which is based on the 12-step recovery program for alcoholism. It is also important to try to reduce the financial risk factors associated with gambling, by not using credit cards or carrying large amounts of cash and by avoiding gambling venues where you might be tempted to spend more money than you can afford to lose.
