How to Detect the Signs of Gambling Addiction

Gambling can be a dangerous social activity for those who become addicted. The addictive nature of gambling means that people need to keep on betting and gambling in order to feel the same “high.” This is a never-ending cycle, as each loss leads to increased craving and reduced resistance. A gambling addiction can have serious psychological, social, and professional consequences. There are many ways to detect the signs of gambling addiction and seek help for overcoming the problem. Read on for some helpful advice.

Problem gambling is a “hidden addiction”

Despite the widespread acceptance of problem gambling in our culture, it is a relatively hidden addiction, and is often overlooked when it comes to treatment and diagnosis. While the pathology of gambling has long been recognized in the behavioral health community, it was only in 1980 that the American Psychiatric Association added the diagnosis of “pathological gambling” to its Diagnostic and Statistical Manual (DSM) system. This disorder was then classified as an impulse control disorder, but the DSM 5 edition shifted the diagnosis of gambling under the heading of “addiction and related disorders.” The growing scientific evidence of the dangers of gambling and the costs to society are driving the movement toward more effective treatment for problem gamblers.

It is a risky social activity

While it may seem harmless, gambling can lead to long-term consequences for young people. While marketers tend to promote it as a social activity, gambling problematises tend to be socially isolated. The very nature of gambling can make it feel solitary, even when people are present. Problem gamblers may ignore social relationships and not notice their friends. They may even be offended when other people aren’t interested in gambling, as they are so focused on the activity.

It is a form of insurance

In insurance, the insured party receives a prize when a specified event happens. A form of insurance is legal, and requires two parties to agree on a wager. Gamblers pay a certain amount of money when gambling, and it is the insurance company’s winnings that are awarded to the beneficiary when the insured person dies. However, there are some differences between betting and insurance. The former protects the insured’s financial interests, while the latter acts as a form of insurance.

It is a form of investing

In some ways, gambling and investing are the same. Both activities require capital. However, gambling involves the risk of losing money while investing creates wealth. Generally, investing is more like lending than gambling. The difference between gambling and investing is in the time frame, with the former focusing on long-term returns. When looking at stocks, investors should pay attention to the price-earnings ratio and book value. Other factors include a company’s position in its industry, competitiveness in its product line, new products under development, and its management style.