Gambling is the act of placing a value on an event based on chance or skill with the aim of winning something of value. It is a common activity and there are several forms of gambling including: horse racing, football matches, online casino games, lottery, keno and scratchcards. Many people use gambling as a way to socialize with friends or for entertainment. However, it is important to note that it can have serious adverse effects.
The most well-known adverse effects of gambling are the financial losses that can occur, but it also has a negative impact on one’s mental health. Some studies have found that gamblers are at an increased risk of depression, anxiety and suicide compared to the general population. The causes of gambling disorder vary, and they can be complex and overlapping. It is important for loved ones of gamblers to understand the underlying causes and seek professional treatment when necessary.
Research has focused on identifying the direct economic costs of gambling, but less attention has been paid to its social impacts. Social costs are defined as any cost that aggregates societal real wealth (including the costs to society of a person’s gambling behaviour), rather than simply personal, private wealth. For example, the costs of driving to a casino, eating at restaurants and staying at hotels to gamble are all social costs. Similarly, the negative impacts of a family member’s gambling are also social costs.
Although it is difficult to quantify, the social costs of gambling are significant and should be taken into account when evaluating gambling policy. In addition, it is also important to recognise that the behavioural changes associated with gambling can have serious health consequences, both for individuals and their families.
People who have gambling disorders are often at high risk of mental illness, and they are also likely to be at risk of substance abuse and depression. Problem gambling is also a leading cause of homelessness and a major source of unemployment in some countries.
Some of the most severe effects of gambling are on children and young adults. In some cases, the effects can be life-threatening. The key to helping a child or young adult with a gambling disorder is getting help early.
It can be challenging to overcome a gambling addiction, especially after losing money or strained or broken relationships as a result of the habit. But it is possible to break the cycle. The first step is admitting that there is a problem. After that, you can start by strengthening your support network and finding new activities to enjoy. If you’re struggling to find a therapist who can help, BetterHelp is an online service that matches you with licensed, accredited therapists who specialize in addiction and recovery. Take the assessment and get matched with a therapist in as little as 48 hours. No matter how bad your gambling habits are, it’s never too late to get help. Embrace your strength and courage to change, and remember that many others have done the same.