Gambling is the wagering of something of value (e.g. money, property, etc.) on a random event that depends at least in part on chance, where instances of skill are discounted. It is estimated that over $10 trillion is legally wagered each year on a variety of gambling activities around the world, with the most popular being lotteries and sports betting.
Despite the negative connotations associated with it, the vast majority of people who gamble do so responsibly. However, an estimated 2.5 million Americans (1%) meet the diagnostic criteria for a serious gambling disorder and experience significant problems related to their gambling behaviour. It is also estimated that another 5-8 million Americans (2-3%) have mild to moderate gambling problems.
Problem gambling can lead to a wide range of adverse consequences including financial harm, emotional and social harm, loss of employment or education, legal troubles, family breakdown and even suicide in extreme cases. It is often not recognised as a problem until it has reached crisis point and it is very common for individuals to deny that they have a gambling problem or hide their gambling activity from friends and family members.
In many cases, the underlying causes of gambling addiction are complex and there may be several contributing factors. These can include a tendency to seek out ‘big wins’, the size of the win and the frequency with which you have won, a tendency to gamble to avoid boredom or as an escape from unpleasant feelings, impulsivity and a poor understanding of the odds and probability.
Gambling can be a useful way to relieve boredom, loneliness and stress but there are healthier and more effective ways to do this including exercise, spending time with friends who don’t gamble, taking up new hobbies and using relaxation techniques. Developing and strengthening your support network can also be helpful. It is important to note that many problem gamblers experience suicidal thoughts and feelings and therefore are at high risk of suicide.
It takes tremendous strength and courage to recognise that you have a gambling problem, especially when it has cost you money and strained or broken relationships in the process. However, there is hope for recovery and a huge number of people have successfully overcome this type of addiction and rebuilt their lives. BetterHelp can help you break the cycle of self-destructive behaviour by providing online therapy that matches you with a licensed therapist who has specialist experience in overcoming gambling addictions. You can take our assessment and get matched with a therapist in as little as 48 hours. So what are you waiting for? Take the first step and start your journey to recovery today.