Gambling is an activity where people risk something of value (money, goods or services) on the outcome of a random event that is not completely under their control, such as a game of chance, a race or an event. This activity can take a number of forms, including playing cards with friends for small amounts of money, betting on sporting events or buying lottery tickets. People can also gamble online or in casinos.
There are different reasons why people gamble, which include social interactions and the dream of winning money. Some people are predisposed to thrill-seeking behaviour and impulsivity due to biological factors, which can lead to gambling addiction. They can have a low threshold for negative consequences and may not recognize when they are in trouble. They often use gambling as a way to escape from boredom or stress. This can cause them to continue gambling, even when it results in a large loss or debt.
Many studies have examined the economic costs of gambling, such as losses on betting machines and casinos, but little research has been done on the other, more personal impacts. These other impacts are referred to as social impacts and they can be observed at the individual, interpersonal and community/society level. The personal and interpersonal levels refer to the effects that affect the gamblers themselves, for example a loss on a slot machine or the loss of a friend, while the community/society level includes impacts that involve non-gamblers.
Some people are socialized to gamble by being exposed to it in the media, where it is portrayed as fun, glamorous and fashionable. They may also have a strong desire for status and specialness, which can be promoted by casinos. Despite this, most people who gamble do not become addicted. It is thought that a combination of factors, including the size and frequency of an early big win, boredom susceptibility, a poor understanding of random events, a need to escape from distress, using gambling as a form of coping and an underlying personality disorder, contributes to the development of problem gambling.
In recent years, our understanding of the adverse consequences of excessive gambling has changed. Whereas previously individuals who experienced these problems were viewed as greedy, today we see them as having psychological problems and are beginning to understand why they develop a gambling addiction.
Developing a better understanding of the nature of gambling and its impact is crucial for developing effective public policy. However, there is a need for a common nomenclature and world view on this issue because research scientists, psychiatrists and other treatment care clinicians, and public policy makers, tend to frame issues differently depending on their disciplinary training and experience. This leads to a lack of consensus about how to describe gambling and the problems associated with it. For instance, some experts have used the term “pathological gambling” instead of the traditional diagnosis of gambling addiction, and others have argued that the use of this label is misleading.