Gambling involves betting or staking something of value, with the conscious risk of loss and hope of gain, on an uncertain event. It may be on a sporting event, game of chance, or a business venture. Money is the most common thing staked, but other things can be wagered such as merchandise, services, or even one’s reputation. Some people enjoy gambling as a form of entertainment, or as a way to socialise with friends, while others develop problems. These problems can be devastating to families and friends, as well as damaging finances and employment prospects.

The understanding of gambling disorders has undergone a revolution in recent years, paralleling that of alcoholism. The change has been reflected in and stimulated by the various editions of the Diagnostic and Statistical Manual of Mental Disorders (called DSM), published by the American Psychiatric Association. It is now recognised that there are specific underlying mood conditions, such as depression or stress, which can trigger gambling and make it worse.

Problem gambling can also be triggered by other life events, such as unemployment or relationship difficulties. It can also be a symptom of a broader range of issues, such as mental illness, substance abuse or an eating disorder. These underlying problems need to be addressed in order to resolve the gambling problem and improve quality of life.

In addition, a person’s personality can impact on their vulnerability to developing gambling disorders. For example, some people are genetically predisposed to thrill-seeking behaviour and impulsivity, which can be exaggerated by the effects of drugs and alcohol on the brain. The culture of a person’s community can also play a role, as it is often difficult for people to recognize that they have a problem in environments where gambling is common.

There are some positive aspects to gambling, especially when it is done in moderation and as a hobby. It can provide entertainment, and studies have shown that it can increase happiness levels. However, problems can arise when money is lost and the gambler becomes despondent. Feelings of low self-esteem, depression and anxiety can all be exacerbated by excessive gambling, and it is important that individuals who are experiencing these symptoms seek help and support.

It is not unusual for a loved one to become entangled in the cycle of gambling problems, and it can be very difficult to break out of the trap. It is worth contacting family therapy and other specialist services to work through the issues caused by compulsive gambling, including marriage, career and credit counselling. It is also very important to set boundaries in managing financial accounts, so that the person’s own personal and household finances are not at risk. It is also important to ensure that the person who has a gambling problem gets appropriate medical care and treatment. This is usually provided by the NHS, although a private therapist or psychiatrist can be sought. This is particularly necessary if there are severe or dangerous symptoms, such as suicidal thoughts or attempts.