Gambling refers to any activity in which an element of chance exists, such as card games, lottery or scratchcards, sports betting and casino gambling. Gambling also can involve risking virtual currencies or materials of value from multiplayer video games (for instance World of Warcraft virtual coins and Magic: The Gathering pogs), cryptographic blockchain-based online gambling platforms like Betfair (e.g. World of Warcraft virtual coins or Magic: The Gathering pogs).
Gamblers usually seek to win cash or goods as prizes, either immediately or at a later date. Gamblers also may look to gain other benefits such as recognition or status through gambling.
Gambling provides entertainment, relaxation and socialization; as well as encouraging self-control. But its negative repercussions can be substantial and long-term; gambling may harm an individual’s physical and mental health, relationships and work performance as well as lead to debt or bankruptcy; it may also have devastating impacts on families and communities, creating lasting harm across generations.
People often gamble for the thrill of victory or to escape unpleasant emotions such as stress or boredom, but it’s important to recognize there are healthier alternatives for relieving such symptoms, including exercising regularly, socializing with non-gamblers, practicing relaxation techniques or engaging in new hobbies.
While most individuals who engage in gambling do so responsibly, a substantial minority may become addicted. This condition, known as pathological gambling or compulsive gambling is recognized by DSM-5 as an addictive disorder and may have serious repercussions for one’s life.
Gambling addictions can arise from many sources, including genetic and biological predisposition, environmental influences and lack of healthy coping mechanisms. Further complicating matters are cultures which view gambling as a harmless pastime, making it harder to spot when there is an issue with gambling.
Gambling has both positive and negative social ramifications, affecting those involved as well as their friends, family, and work colleagues. Its effects can be divided into personal, interpersonal or society/community levels; gamblers tend to bear most of the costs that ultimately become visible once society/community level influences begin influencing behavior or negatively alter life courses; external impacts could include general costs/benefits analysis as well as problem gambling related costs/benefits analyses as well as long-term impacts/benefits analyses.