Gambling involves wagering something of value (a bet) on a random event with the intent of winning something else of value, where instances of strategy are discounted. This may be done in a variety of ways, from placing bets on the outcome of a specific game to investing in stock markets, although the latter is often seen as a form of gambling where the gambler’s skill plays a significant role.
People gamble for social and psychological reasons – for example, it might help them to forget their worries or make them feel more confident. They also gamble to win money – and the prospect of winning a large sum can be very appealing to people who are experiencing financial stress or struggling financially.
A person’s propensity to engage in gambling behavior is influenced by many factors, including personality traits, environment, and genetic predisposition. It is also possible for people to develop an addiction to gambling, which has been referred to as pathological gambling. It was formerly classified as a compulsion, but is now recognised as an addictive disorder and included in the Diagnostic and Statistical Manual of Mental Disorders (DSM-5).
Research into problem gambling has largely been limited to cross-sectional studies, but longitudinal studies offer important new opportunities for understanding the etiology of this complex phenomenon. Such studies allow for the identification of a range of variables that moderate and exacerbate participation in gambling and, in some cases, provide evidence of causality. However, these kinds of studies are extremely expensive and time-consuming to mount, particularly if they span a long period of years.
Various psychiatric classifications for problematic gambling have been used, with the current DSM-5 definition being the most widely accepted and recognized. The underlying assumption in this definition is that pathological gambling is a type of impulse control disorder, and that this condition can be treated with psychotherapy.
Although a number of treatment approaches have been developed, none has yet achieved universal effectiveness. This may be due to a lack of standardized diagnostic criteria and the complexity of gambling behaviors. Furthermore, treatment programs that incorporate eclectic theoretic conceptualizations of pathological gambling have produced varying degrees of success.
A therapist can help you understand the factors that are contributing to your gambling problems and provide guidance on how to manage them. They can also work with other family members and professionals to create a plan for managing finances, credit, and relationships.
It takes a lot of courage to admit that you have a gambling problem, especially if it has caused you or your loved ones to lose substantial amounts of money and strain or even break your relationships. Talking through these issues with a therapist can also give you a sense of hope, as others have successfully tackled gambling problems and rebuilt their lives. If you are struggling to cope with debt, speak to StepChange for free debt advice.