Gambling is an activity where someone risks something of value, such as money or goods, in the hope of winning something else of value. This can happen in many ways, including betting on a football game, buying a scratch card, playing video poker or attending a casino. Gambling is generally considered to be an acceptable form of entertainment for many people, but it can have serious negative impacts on the lives of some people.
A person’s gambling behavior may be problematic if it causes distress, difficulty in maintaining relationships and significant financial loss. It can also interfere with work or studies, and cause a person to lose interest in other activities. The impact of gambling can be serious and long lasting for some people, and can result in debt, homelessness and even suicide.
There are a number of factors that can lead to an addiction to gambling, including impulsivity, family history of addiction and mental illness. However, most people who experience a gambling problem don’t meet the Diagnostic and Statistical Manual of Mental Disorders (Fourth Edition) criteria for pathological gambling. It is estimated that 2.5 million U.S adults (1%) have a severe gambling problem, and that another 5-8 million (2-3%) would be considered to have mild or moderate problems.
It is important to note that gambling is a risky activity and that everyone will lose at some point. It is therefore important to only gamble with disposable income and not money that you need to pay bills or rent. It is also a good idea to set a time limit for how long you want to spend gambling and to leave when you reach this limit, whether you are winning or losing. It is also important to learn how to relieve unpleasant feelings in healthier ways, such as exercising, spending time with friends who don’t gamble, or practicing relaxation techniques.
Trying to win back lost money is known as ‘chasing losses’ and it is very common for people to do this when they are gambling. This is because the brain can be tricked into thinking that the chances of a big win are greater than they actually are, due to the memory of previous wins or stories about others’ luck.
If you feel that gambling is affecting your life, it is important to seek help. You can make an appointment to speak to a health care provider on AcademicLiveCare, the free online service for CU Boulder students, staff and faculty, or attend a Let’s Talk session.