Gambling involves risking something of value (typically money) on an event that has some degree of chance and the potential to win a substantial sum of money. It is a common activity that exists in virtually every society throughout the world and it has been integrated into many customs, rituals, and social activities through the ages.
Despite this widespread popularity, gambling can become a problem when it begins to interfere with one’s personal and professional life. Around 2.5 million adults (1%) are estimated to meet the criteria for a severe gambling disorder in a given year, and another 5-8 million (2-3%) have mild or moderate problems. The good news is that gambling can be a fun and enjoyable activity, but only if you are able to gamble responsibly.
It is also important to remember that there are effective treatments for gambling addiction, and that it is never too late to seek help. In addition, there are several resources available to support people dealing with financial issues associated with gambling.
For some individuals, the misperception that gambling is a low-risk, high-reward entertainment choice contributes to problem gambling. However, the reality is that the house always wins – that is, betting establishments build a profit margin into their games, which is known as the ‘house edge’.
Similarly, while you may feel rewarded when you win, the dopamine response only teaches you to repeat the behavior that led to the reward. This is a useful learning mechanism if you’re shooting baskets into a net, but it becomes problematic when it happens to gambling.