Gambling is any activity in which you stake something valuable on a random event that has the potential to produce a prize win. While many people think of casinos and racetracks when they think of gambling, it can also include sports betting, fantasy leagues, online poker or even DIY investing. It’s also common to see people risking the cost of a scratch card for the chance at winning big in the lottery. Insurance is another form of gambling – it’s often described as “shifting risk” because it allows people to pay others for the possibility that they will lose.
Research shows that the vast majority of people who gamble do so for entertainment. They enjoy socializing with friends, improving their skills, and the excitement of a possible prize win. But the negative impact of gambling comes when it becomes an addiction.
A person who has a gambling disorder will struggle with impulsiveness and poor self-control. They will find it difficult to stop, even when they experience a significant loss. They may lie to family and friends about how much they gamble. People with gambling disorders are more likely to be from low-income families and are more vulnerable to criminal behavior. They also have a higher suicide risk than other types of addicts.
There are a number of ways to prevent problems with gambling, including setting boundaries in managing money; taking control of family finances; and reviewing bank and credit card statements. It’s also important to speak with a professional to discuss local referral resources for certified gambling counselors or intensive treatment programs in your area.