Gambling is the wagering of something of value on a random event where instances of strategy are discounted. The stakes are usually money, but can also be items of value such as goods and services, sports team or concert tickets, or even collectible gaming pieces (such as marbles or Magic: the Gathering cards).

Gambling can improve a person’s math skills and pattern recognition, and develop problem-solving abilities. It can also help boost concentration, hand-eye coordination and memory. However, gambling can lead to addiction and can have serious social and financial consequences for individuals and their families. Identifying a problem with gambling is difficult and often takes time, especially if it has caused significant losses and strains on relationships. Those suffering from severe gambling problems may require residential treatment or inpatient rehabilitation.

It is important to recognise that you may have a gambling problem and seek help early. It is possible to overcome a gambling addiction and rebuild your life. If you or a loved one are struggling with a gambling problem, speak to an experienced therapist today. It’s free, confidential and available 24/7.

It is also important to remember that gambling is not a substitute for other forms of entertainment and should be treated as a form of entertainment rather than an alternative source of income. It is recommended to only gamble with money that is within your weekly entertainment budget and to set time and money limits before you start gambling. It is also important not to chase your losses – this can quickly spiral out of control and result in further financial loss.