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How Gambling Can Turn Into a Problem

How Gambling Can Turn Into a Problem

Gambling involves risking something of value – cash, possessions, or time – for the possibility of winning something of greater value. The thrill of the potential win is what draws many people in and keeps them hooked. It is not just casinos and racetracks that offer gamblers the chance to place a bet, online games are gaining in popularity and are easily accessible from a variety of devices. While most people who gamble do so without problems, for some the habit can become a serious addiction that can have life-changing consequences.

Problem gambling is associated with a range of mental health issues, including anxiety, depression and self-harm. Those with mental illness are more likely to develop a gambling disorder, which is defined in the Diagnostic and Statistical Manual of Mental Disorders as “a persistent pattern of gambling that results in significant distress or impairment.”

A gambling addiction can lead to family break ups, financial stress and even suicide. If you or a loved one is struggling with a gambling problem, help is available.

While there are a number of different types of gambling, they all have one thing in common: the odds are against you. Even if you are a great gambler, there is always the chance that you will lose. This is because the man on the other side of the betting line has an edge, which can be predetermined (think of roulette’s 35-to-1 payout on a 37-number wheel) or fluctuating, as in the case of sports betting odds that move up and down.

The psychological high of anticipating a big win can quickly turn into a devastating low when you don’t win. This can make you want to gamble even more to try and get that euphoria back, which in turn leads to bigger losses. In addition, some people rely on gambling to distract them from negative emotions or to relieve boredom, anxiety or stress.

There is also a strong link between gambling and debt, which can lead to bankruptcy. People who struggle with a gambling problem often borrow or steal money to pay for their habit, which can leave them in a vicious cycle of debt. It is important for anyone who is concerned about their finances to seek debt advice from a specialist provider, like StepChange.

If you have a gambling problem, try to stay away from places where you can gamble. Instead, focus on spending quality time with your friends and family, or try other activities, such as a hobby or sport. It can also be helpful to join a support group, such as Gamblers Anonymous, which follows a 12-step program similar to that of Alcoholics Anonymous.