In the past, gambling had a bad reputation. But in the present, most adults and adolescents have placed some bets and most do it without problems. But a subset of people develop a disorder, as described in the Diagnostic and Statistical Manual of Mental Disorders (Fifth Edition). That group, who may be at risk for depression or other mental health conditions, is particularly vulnerable to gambling addiction, which can increase their risk for self-harm and suicide.
Gambling involves placing a bet on the outcome of an event, such as a game of chance or a sporting event, and putting up a sum of money that could either be lost or won. The thrill of winning is a rush, similar to the feeling you get when winning a lottery ticket or when you see your horse win the race – but the devastation of losing can be much worse.
Many people who gamble do so because they believe – perhaps irrationally – that they are special, that they will defy the odds and hit the jackpot. That sense of hope is similar to the feelings of spiritual uplift and ritual that some people experience through religion.
The financial costs of gambling are significant. For example, average credit scores fell 1% more in states where people gambled than in other states and debt collections increased 8% in gambling-state households, Hollenbeck found. And the social costs can be profound, especially for those who are most vulnerable. In a world where loneliness is high (21% of adults feel lonely), gambling venues often offer an unusual blend of isolation and community, with players cheering each other’s wins or helping one another.