Gambling is an activity where you place a bet on something and hope to win. This could be a football game, or even scratchcards. The choice you make is matched to a set of odds – for example, 5/1 or 2/1 – which indicate how much money you might win if you did well. The odds are calculated by the people who run the gambling operations – called betting companies – and can be either predetermined (in roulette, for example, where the house pays out 35-to-1 on a 37-number wheel) or fluctuating.
The odds can also be adjusted by how many players are betting on a particular event, so that the total amount bet matches the estimated probability of winning. This is called the house edge and it is why many gamblers end up losing more than they win.
There is a significant risk of harm to individuals, families and communities when gambling becomes problematic. It can cause financial stress, relationship breakdown, mental illness and suicide. In addition, it can create a legacy of harm that lasts throughout one’s life and can be transmitted intergenerationally. Harmful gambling can be prevented by identifying it as a behaviour that needs intervention, addressing factors that increase the risk of harm such as frequency of exposure, cultural influence, social influence and biological influences, and availability of gambling resources.
While many people enjoy the thrill and excitement of gambling, for some, it can become a serious problem. For these individuals, it can be hard to recognize when they are at risk and how to get help. They may have a genetic predisposition for thrill-seeking behaviours and impulsivity and/or a brain that does not process reward information properly, or is prone to heightened levels of reactivity, such as hyper-arousal.
People from different cultures can have differing thoughts and values about gambling and how to respond to it. This can have a major impact on whether someone can identify the signs of a problem and seek help, particularly if they are exposed to a culture that has an overly positive view of gambling activity.
As gambling becomes more and more commonplace, it is important to understand what the consequences of excessive gambling can be so that appropriate intervention strategies can be put in place. These may include ending gambling advertising and promotions, requiring centralized account registration to record losses and requiring those who gamble to set binding loss limits and restrict access to gambling venues. It is also essential to support research into the development of new drugs that can treat pathological gambling, and develop more effective methods for diagnosing it.