Gambling is an activity where you place a bet or stake on something of value that has an element of chance involved. This can be done on anything from a football match to a scratch card.
Most people gamble from time to time but some people can be addicted and this can lead to harm in their lives. Understanding what gambling is and how to recognise if you’re in danger of becoming addicted can help you stop.
The most popular forms of gambling are gaming, betting and lottery. The global legal gambling market is estimated to be about $10 trillion a year and there are a number of different types of gambling including poker, bingo, sports betting, lotteries and casinos.
Despite this popularity, gambling is still a problem in many countries. It causes significant financial strain on families and can result in problems such as bankruptcy, debt and homelessness.
It also brings a number of social and economic problems such as a reduction in productivity, an increase in unemployment, and increased demand for social services. Moreover, gambling can have negative impacts on individuals’ health and wellbeing such as depression and anxiety.
While the PHIGam model aims to be universal, it is important to remember that context matters for gambling impacts. Studies have shown that gambling can be more harmful in areas where it is not widely available or is regulated by government.