Whether it’s buying a lotto ticket, playing a scratchcard or placing bets on sports events or the pokies, many people gamble at some point in their lives. For some, it can be a fun pastime, but for others it can have serious consequences on their physical and mental health, their relationships with family and friends and even their work performance. It can also lead to debt and even homelessness. Public health experts estimate that problem gambling may account for more than 400 suicides in the UK each year.
Gambling involves risking something of value on an event whose outcome is uncertain, and the goal is to win more than you have invested. Instances of strategy are discounted. The odds of winning are calculated according to mathematical formulas, but the exact outcome is unpredictable. This is a key reason why gambling is considered addictive and often dangerous.
The brain responds to gambling in different ways depending on a variety of factors, including mood, stress levels and experiences. It is important to know how the brain reacts to gambling so that you can make informed decisions about how much money you spend and when you should stop.
A common mistake is to chase your losses. If you have lost money, it is important to remember that the odds are against you and you can’t change this. Instead of trying to recoup your losses, consider taking some time off from gambling or finding other ways to relax and have fun.
Using gambling products can trigger a number of harmful symptoms, including anxiety, irritability, insomnia and depression. If you’re worried about how gambling is affecting your life, it’s a good idea to speak with your GP or therapist for advice. There is no quick fix to gambling disorders, but there are a number of treatment options available. These include behavioural therapy, psychodynamic therapy, cognitive behavioral therapy and family therapy.
Some individuals are predisposed to developing a gambling disorder, and it is also known to run in families. A combination of genetics and environmental factors, such as childhood trauma or social inequality, can be a contributing factor. Symptoms can start in adolescence or later in adulthood.
Ultimately, the best way to protect yourself from problems with gambling is to take control of your finances and never bet more than you can afford to lose. Budget your gambling, and make sure that you treat it as a discretionary expense like eating out. Avoiding the temptation to drink excessively or play on repeat can help you stay in control too. There is also a strong link between gambling problems and suicidal thoughts, so it’s important to seek help as soon as possible. You can find free, confidential debt advice at StepChange. You can also speak to a debt charity if you need more help. You can contact a national helpline, or visit your local Citizens Advice Bureau. If you’re struggling to keep up with your payments, they can help you plan a budget and manage your money.