Gambling involves wagering something of value (money, goods or services) upon a future contingent event not under one’s control or influence, with the aim of winning an agreed-upon prize. This activity may take many forms, such as casino games, sports betting and lottery games. Some types of gambling are legal while others are illegal and carry significant risks. Defining different forms of gambling is essential for legal regulations, consumer protection and identifying harmful gambling.
While most people who gamble enjoy the thrill of winning and the excitement of losing, some find themselves developing a problem with their gambling habits. Problem gambling is often referred to as gambling addiction and it can have serious consequences for the person suffering from the disorder, including financial problems and family difficulties.
It is generally accepted that gambling involves a substantial element of risk and the possibility of losing money or property, which is why most states regulate and tax these activities. Although some people can gamble responsibly, an estimated 2-4 million U.S. adults (1%) meet diagnostic criteria for a severe gambling disorder. In addition, an additional 4-6 million (2-3%) would be considered to have mild gambling problems.
Despite the clear link between gambling and impulsivity, there is little consensus regarding how and why people become addicted to gambling. Some theories suggest that gambling behaviors are driven by sensation- and novelty-seeking, whereas others, such as Cloninger’s theory of hedonic motivation and Zuckerman’s theory of behavioral disinhibition, suggest a relationship between impulse control and craving for complex or varied stimuli.
A number of behavioral factors can contribute to the development and maintenance of gambling problems, such as diminished mathematical skills, poor judgment, cognitive distortions and mental illness. These factors may be exacerbated by the emotional state that a person is in when they gamble. For example, a man who is upset, depressed or anxious will be more likely to gamble than a calm and relaxed individual.
While some types of gambling involve skill, most are based on luck or chance. Some examples of skilled gambling include card games like poker and blackjack, football accumulators and horse racing bets. However, these types of gambling are typically less intense than other forms of gambling.
Other activities that are sometimes categorized as gambling, but are not regarded as addictive, are insurance and other business transactions that involve the transfer of risk. For example, actuarial methods of calculating premiums are similar to those used for determining odds of winning in some types of gambling. In addition, a contract to insure against an unforeseen loss is similar to a bet on the outcome of a sporting event or game. However, the DSM-III defines pathological gambling as an “abuse” or a “dependence,” not as an addiction. A partial exclusion criterion was added because excessive gambling can occur during acute mania, without the presence of the disorder itself.