Gambling involves risk-taking in the hope of winning something. This can be anything from a few dollars on a lottery ticket to hundreds of thousands of dollars on a sports team or horse race. Whether it’s online gambling, fantasy leagues or DIY investing, it all comes down to this: putting something of value on the outcome of an uncertain event whose probability of success is not known.
Many people gamble without problems, but for some it becomes a serious problem. This is referred to as ‘problem gambling’ or ‘gambling disorder’. Problem gambling can have negative effects on a person’s health, relationships and employment and may lead to financial difficulties, including debt, homelessness and even suicide. It is estimated that around 400 people take their own lives each year in England because of gambling-related problems.
There are some important factors that contribute to the development of gambling problems, such as an individual’s personality and family history, which can influence how likely they are to develop a problem. Age also plays a role, with men tending to be more vulnerable than women. Children can also develop a gambling problem if they spend too much time playing video games and mobile apps, which often require micro-transactions and payments.
The environment and community can also impact the frequency and type of gambling activities a person engages in. For example, some people live near casinos or betting shops and have easy access to gambling products, such as electronic gaming machines (EGMs), which have design features that encourage extended use and can be prone to addictive behaviour. Similarly, some people live in communities that are more reliant on gambling for revenue, and this can contribute to local gambling-related harms.
Gambling regulation is a complex issue. Regulatory agencies are often subject to lobbying from the gambling industry, and existing interventions are not always effective. For instance, responsible gambling initiatives are often voluntary and have low uptake. Universal pre-commitment schemes requiring people to set binding limits on time and money spent gambling are the most effective.
In addition, a range of new technologies can be used to enhance gambling experiences and increase the amount that is wagered. For example, virtual reality, social media and mobile apps can all be used to promote gambling and facilitate interaction between players. However, these innovations should be developed and used in ways that reduce the risks of gambling and protect individuals from harm.