When people gamble, they are betting something of value on the outcome of a random event. This can be anything from a football match to playing a scratchcard. When someone places a bet, they will be given odds which are based on how likely it is that they will win. These odds are calculated using a combination of probability and mathematics. For example, the odds of a team winning a game are calculated as the number of times a player wins divided by the number of times they lose.
Whether it’s buying lotto tickets, betting on horse races or using the pokies, everyone has a go at gambling at some point. For many people, it’s harmless fun but for others it can be a dangerous addiction. If you are worried about your gambling habits, there are many ways you can seek help and support.
The first step to getting help is acknowledging that you have a problem. This can be difficult, especially if you’ve lost money or suffered strained relationships because of your gambling habits. But it is possible to break the habit and rebuild your life.
If you’re struggling to control your gambling, the first thing you need to do is set a budget for yourself. Then, only gamble with money you can afford to lose. You can also practise before gambling by setting up a practice account on a site like Betfair and trying out different strategies.
Another way to control your gambling is to only gamble during mid-week when there are fewer people in the casinos. This can make a big difference to your bank balance as well as your mindset. Finally, never chase your losses – this will usually only lead to bigger and more expensive losses.
It’s important to remember that there are risks involved with any form of gambling and it’s not a reliable source of income. It’s also worth pointing out that there is a strong link between gambling and mental health problems. People who are depressed or suffering from anxiety can often turn to gambling as a way to self-soothe. In some cases, this can even lead to serious debt problems, so it’s important to seek advice if you have financial concerns.
Gambling can be an addictive activity that has serious consequences for the person affected and their family. If you think you have a gambling problem, speak to one of our counsellors who are available 24/7. They can give you support and advice on how to break the habit.
The latest edition of the Diagnostic and Statistical Manual of Mental Disorders (DSM) classifies pathological gambling as an impulse-control disorder, alongside other impulsive disorders such as kleptomania and trichotillomania. This is a significant change in how the disorder is viewed and could mean that more people get the help they need. Read our guide on how to deal with a gambling problem for more information. You can also speak to StepChange for free, confidential debt advice.
