Gambling refers to the betting of money on an event with an uncertain outcome, with intent of winning additional money. The decision to gamble a certain amount of money is based on three parameters namely; how much to bet, the predictability of the event and the conditions agreed upon between the gamblers. The skill of a gambler lies in performing the calculation between the three parameters and making a decision about what amount should be put on stake and how much to expect in return.

Games offered in casinos, the table games like poker, Red Dog and Blackjack as also electronic games like Slot Machine and Video Poker are some of the common types of gambling. Card games, coin tossing and dice based games are some of the non-casino based forms of gambling. Sports betting and arbitrage betting are the other types of gambling.

Negative Effects of Gambling

Gambling is practiced as a means of recreation. But does it invite any amount of peace? Does it result in mental satisfaction? The answer is negative. Research has rather shown that gambling can lead to harmful behavior in some people. Gambling has been proved as being an addictive activity. The addiction leads the gamblers to continue with gambling activities irrespective of whether they earn or lose in the deal. Gambling can in fact be a thoughtless splurge of money and valuables.

Gambling is believed to lead the gamblers towards crime. The addiction gets on to them to such an extent that they fail in thinking wisely before acting due to which they might land up in worse situations. They may take wrong decisions in life. People who fall prey to gambling tend to drift away from their families and waste money on other bad practices. The treatment of such addicts again needs money. There is a lot of expenditure on curing the addicted gamblers of society.

When gamblers indulge into excessive gambling activities, they tend to spend time and money at the expense of their jobs and time with family and friends. They tend to stay away from their near ones, resulting in distrust between them and their loved ones. Gambling at the cost of one's job results in a decline in the quality of one's professional life. Addiction to gambling is sure to hamper one's career.

People are seen taking to gambling as a way to run away from their problems, stress, anger and loneliness. Gamblers often exhibit mood swings and a strangely secretive behavior. They run behind gambling without the thought that gambling is actually inviting more problems in their life. Their unquenchable thirst of profits makes them continue wanting more. They start borrowing money and taking secret loans to bet money. In spite of the losses they face, they continue betting. Their addiction to gambling can leave them in bankruptcy.

On looking at the negative effects of gambling, we realize that a little bit of gambling can serve as a recreational activity but its excess, resulting in addiction should be strictly avoided.