Gambling Problems
Gambling is placing something of value (typically money) on an event with an element of chance and the expectation of winning a prize. It includes betting on sports events, games of chance like lottery tickets and cards, bingo, races, animal tracks, and instant scratch-off tickets, and casino gambling such as roulette and blackjack.
The brain produces a chemical called dopamine when you gamble, which makes you feel excited and happy. This can be a problem for some people who don’t recognize when it’s time to stop gambling and end their dopamine surge. Other factors that can cause gambling problems include:
While most individuals engage in gambling as an enjoyable social activity, a small number become seriously involved. These individuals continue to gamble despite serious negative personal, family, and financial consequences. In addition, they lie to family members or therapists about the extent of their involvement in gambling. Some even steal to finance their gambling. These individuals are considered to have pathological gambling and can be found in the American Psychiatric Association’s Diagnostic and Statistical Manual of Mental Disorders (DSM).
To make money, a casino or other gambling establishment must attract customers and generate turnover. This means that their profit margins must be above average. Alternatively, they must be able to compete with established gambling companies with larger customer bases and profit margins. This can be achieved either by offering a service that is more attractive to consumers (such as free cocktails) or by lowering their profit margins, for example by offering lower odds on games.