Gambling is the wagering of something of value on a random event, with the intent to win something else of value, where instances of strategy are discounted. Although most individuals participate in gambling as an enjoyable social activity, a small group of people develop serious problem gambling that causes significant and persistent negative personal, social and family consequences. Problem gambling can also be a leading cause of substance use disorders, including substance abuse and addiction, and is associated with a variety of mental health problems.

Although gambling is often perceived as a form of entertainment, it is actually an activity that involves many complex neuropsychological and social factors. There is no one-size-fits-all explanation for what causes an individual to gamble or develop a gambling problem, but there is evidence that genetic and environmental risk factors play a role. In addition, a number of psychological and behavioral factors can contribute to the development of an addiction to gambling, such as poor money management skills, compulsive gambling and a lack of control over betting behavior.

Problem gambling is most prevalent among adolescents and young adults. It is believed that this is due to the fact that the human brain does not fully mature until the age of 25 and that younger individuals are more likely to engage in risky behaviors in general. Furthermore, the availability of gambling opportunities has expanded in recent years with increased access to casinos and online gaming sites, state-regulated lotteries, legal sports betting and games like Pogs and Magic: The Gathering that use collectible game pieces as stakes.

Symptoms of a gambling problem include secretive or deceptive behavior, lying to friends and family about gambling activities, becoming obsessed with the activity and spending more than intended on it. Another symptom is chasing losses, believing that you will win back lost money if you increase your bet size. This is a common myth, as your chances of winning or losing are the same whether you bet $1 or $100, and it is also known as the “gambler’s fallacy.”

In some cases, a person who is a serious gambler will begin to experience financial difficulties that threaten their well-being, such as mounting credit card debt or repossession action on their home. This may trigger a crisis that causes them to address their gambling behavior, such as asking for help from a friend or family member or calling the GamCare helpline.

The first step to overcoming a gambling problem is making a decision to stop. It is also important to remove temptation by getting rid of credit cards, putting someone else in charge of your finances, closing any online gambling accounts and keeping a minimal amount of cash on you at all times. Refocusing your attention on other hobbies and establishing a supportive network are other helpful strategies. Moreover, a support group such as Gamblers Anonymous can provide valuable insight from those who have experienced similar challenges to overcome a gambling addiction.