A game of chance where players place something of value on an event with an element of randomness and the hope to win a prize. This is also known as “betting.” It can be conducted with money, products, or things of value that have no monetary value such as marbles, stuffed animals, trading card games (like Magic: The Gathering and Pogs), and even collectibles like stamps and coins. Gambling can be dangerous and a cause of harm if not done in moderation.
When gambling becomes a problem, it can trigger feelings of stress, regret and guilt. It can also exacerbate mood disorders, such as depression, anxiety or substance abuse. And, it can lead to financial problems, such as overspending or hiding debt from others.
Gambling can be a great way to socialize, relax and relieve boredom, but it’s important to know your limits. Start with a set amount of cash that you’re willing to lose and only gamble with that amount. If you feel a strong urge to continue gambling, stop immediately. Never chase your losses; it’s a common mistake to believe that you’re due for a big win and will make back your lost money (this is called the “gambler’s fallacy”).
If you think that you have a gambling problem, seek help. Many organisations offer support and assistance, including free counselling services for people affected by gambling. You can also talk to your GP, who may be able to recommend local referral resources such as certified gambling counselors or intensive treatment programs.