The Dangers of Gambling

Gambling is risky, and it involves making decisions based on uncertainty. The activity can be as simple as placing a bet on something, like a football match or scratchcard, or it could be a larger commercial venture such as investing in unproven technology with the hope of future high demand. The act of gambling relies on a third party to provide value (either in the form of money or status) in return for a chance at winning. The first step in overcoming gambling addiction is admitting you have a problem. Then, you can take action and find help.

There are many negative impacts of gambling. These can be observed at personal, interpersonal and community/society levels and include visible and invisible costs. Generally, these are non-monetary and include the effects of emotional stress on relationships, job performance and health/wellbeing. It is also possible for gamblers to become addicted to gambling, leading to a cycle of debt and other problems that can impact their life course and even pass between generations.

The COVID-19 pandemic has led to many people working remotely and this can be a tempting opportunity for some individuals to engage in recreational gambling, as it allows them to escape from the stresses of daily life. However, this can cause them to lose focus at work and can lead to burnout. It is therefore important to balance any gambling with other activities and to make sure you are not spending more than your budget allows.