How to Protect Yourself From Gambling Addiction
Gambling is when you stake something of value (like money or collectible game pieces) on an outcome that involves chance. It can be done at casinos, racetracks, sporting events and even online. Some of the more popular types of gambling are betting on football matches, horse races or scratchcards. The amount of money you risk varies depending on the odds (a number such as 5/1 or 2/1 that determines how much you could win) and your choice to wager.
It’s not just a matter of luck: Some people have difficulty controlling their gambling behavior and become addicted to it. According to the American Psychiatric Association, 2.5 million U.S. adults (1%) meet the diagnostic criteria for pathological gambling and another 5-8 million have mild or moderate gambling problems. These problems can lead to debts, homelessness and even suicide.
There are several things you can do to protect yourself from gambling addiction. Start by limiting the amount of money you’re willing to lose. Keep a small amount of cash in your wallet or pocket, avoid ATM machines and lines of credit and limit the time you spend gambling. Don’t lie about your wins or losses. This can backfire and actually increase your cravings to gamble. Lastly, remember that you will always lose money gambling. It’s entertainment, not income.
Gambling can cause a variety of problems, but most people with gambling problems can overcome them with self-control. It’s important to recognize the signs of a problem and seek help as soon as possible.
When you’re struggling with gambling addiction, it’s helpful to join a support group. There are many options, including online and in-person groups based on the 12 steps of Gamblers Anonymous – an addiction recovery program modeled after Alcoholics Anonymous. It’s also a good idea to seek out professional treatment or rehabilitation.
If you have a family member or friend with a gambling problem, it’s important to set limits and boundaries. It’s also a good idea not to leave your loved one alone in a casino or other place where they can gamble. Take steps to prevent them from gambling: remove credit cards, stop using the bank’s automatic payments, close online betting accounts and don’t lend them any money. You may also want to consider having them sign a pre-arranged power of attorney so you can control their finances and credit. Remember, it’s not just about you; it’s about your entire family. It takes a team to beat gambling addiction.