For many people, gambling is a harmless hobby, but for others it can negatively impact their physical and mental health, relationships, work and study performance, lead to serious debt and even homelessness. The good news is that there are a variety of strategies for dealing with the urge to gamble, and non-judgemental support services available.
Gambling involves risking something of value (usually money) to predict the outcome of an event based on chance, such as a football match or scratchcard. The odds of winning or losing are determined by a combination of factors, such as the choices made and the amount of money wagered.
In order to operate, gambling venues – whether casinos, lotteries or online betting sites – need to make a profit in return for offering their service. In order to do that, they either need to have bigger-than-average margins or generate a high turnover.
The best way to prevent gambling from becoming a problem is to only ever gamble with money that you can afford to lose. You should also keep it away from your savings or emergency funds. You can also take control of your finances by closing any gambling accounts, letting someone else be in charge of your credit cards and keeping only a small amount of cash on you. You can also distract yourself by exercising, spending time with friends who don’t gamble or trying out new hobbies. If you are struggling to manage your urges, it is worth seeking help from a friend, family member or from a non-judgemental service like the GamCare helpline.