Gambling occurs when you stake something of value on a chance event with the intention of winning something else of value. You can gamble by playing card games, betting on sports or horse races, placing bets at the bar, or even placing a bet on a TV show or film. Gambling is not only illegal, but it can also cause great harm to your life and relationships. It’s important to understand the risks of gambling so that you can protect yourself from becoming addicted.
Occasional gambling can be a fun way to spend time, but it’s important to keep it in perspective and make sure you don’t lose more than you can afford. It’s also important to think about the other things you could be doing with your money — like going on holiday or catching up with friends.
A problem with gambling can impact anyone from any walk of life. It can strain your family and work, lead to debt, and even cause financial disaster. In extreme cases, people with a gambling problem will do anything to gamble, including lying, stealing and borrowing to get the cash they need.
Pathological gambling is not only more common than ever before, it’s also growing faster than any other mental illness. Researchers believe that changes in the environment have helped fuel this increase. These include technological advances, new ways of communicating, and increased media coverage of gambling.
In addition, there are certain groups of people who are more at risk of developing a gambling disorder. These include young people, men, and people with lower incomes. This is because they often have more to lose and have less to gain with a big win.
Many people with a gambling problem are secretive about their addiction, feeling that others won’t understand or that they can get their money back somehow. They may also chase their losses, increasing bets in an attempt to recoup their lost funds. This is known as a ‘gambler’s fallacy,’ and it’s an important reason to set limits for yourself and not play with more money than you can afford to lose.
If you’re worried about your own gambling or the gambling of someone close to you, it’s worth speaking to a trusted friend or getting non-judgemental support from GamCare’s helpline. You can also take our quick self-assessment and support finder below.