Gambling is the wagering of something of value on a random event where instances of strategy are discounted. It requires three elements: consideration, risk and a prize. People gamble in a variety of ways, and while gambling can trigger feelings of excitement and euphoria, it is important to remember that any form of gambling is inherently risky.
In addition to the monetary consequences of gambling, problems with gambling can lead to emotional distress, poor relationships, legal issues and work difficulties. Problem gambling can impact anyone and can cause significant damage, regardless of economic status, social background or education.
Many people feel the need to hide their gambling, lie about how much they gamble or up their bets in a desperate attempt to win back lost money (chasing losses). In addition, some may develop a secretive relationship with gambling and even steal or defraud co-workers, family members, friends and employers.
Often, the root cause of gambling problems is related to an underlying mood disorder like depression, anxiety or stress. Getting help for these disorders can help reduce gambling problems and improve the quality of your life.
Research shows that cognitive-behavior therapy can be an effective treatment for gambling addiction, helping a person to resist unwanted thoughts and create better habits. A therapist can also address other issues that might have contributed to the development of your gambling problems, such as emotional distress, relationship difficulties or financial concerns. This can help you heal your relationships and rebuild your finances.