Gambling is an activity in which people risk money or other material goods on the outcome of a random event. This outcome can be determined by the roll of a dice, spin of a roulette wheel, or outcome of a horse race. Gambling can be an enjoyable pastime for some, but for others it can create financial ruin, impact their personal relationships, cause problems at work or school and leave them in a state of mental illness. In extreme cases it can even result in suicide.
It is important to have a clear definition of gambling because it helps safeguard people from fraudulent or unscrupulous practices, and it allows for the creation of responsible gambling measures to prevent addiction and financial ruin. A definition also helps establish the scope of harms caused by gambling, and allows for research into areas such as the role of socioeconomic factors in gambling behaviour, social influences, biological and psychological influence and availability of gambling resources.
The term ‘gambling’ is often used interchangeably with betting and playing games of chance, but there are several distinct types of gambling. These include betting on sports events, playing online casino games, buying scratch tickets, fantasy leagues, DIY investing and gambling with friends at home. In addition, some people may participate in private gambling activities such as card games or board games such as bridge and poker. These private activities are sometimes referred to as recreational gambling because the primary purpose is enjoyment and social interaction, rather than winning or losing money.
Globally, gambling has grown rapidly. It is expected that the world’s total annual revenue from gambling will reach $700 billion by 2028. Despite this rapid growth, there is still much harm associated with gambling, including health issues, family conflict and mental illness. Harms can also include poverty by diverting household spending away from essential needs and a loss of employment, housing and social status.
Harmful gambling is linked to high levels of stress, impulsivity, poor judgement and cognitive distortions. It can also lead to a lack of self-esteem, depression and an inability to trust or form close relationships. It can also have a significant negative impact on the lives of those around the gambler and can have lasting effects throughout multiple generations.
In many cultures, gambling is considered a normal pastime and it can be difficult to recognize a problem. Additionally, a culture’s values can shape how an individual views the problem and may make it harder to seek help. However, there are a number of ways to address harmful gambling, such as: setting boundaries in managing money; taking control over household finances; reviewing bank and credit card statements; and talking to a professional about local referral resources for specialised support. These strategies can help people to overcome the effects of harmful gambling and live a happier, more fulfilling life. To learn more about gambling, visit our Gambling factsheet.