Gambling involves placing something of value (money, possessions, etc.) on a random event in the hope of winning something else of value. It can take many forms and occurs anywhere people have a reasonable expectation of winning: casinos, racetracks, on the internet, and more. The amount of money that is legally wagered on gambling activities worldwide can be estimated in the trillions.

While most individuals participate in gambling for recreational reasons and experience no negative effects, a small group become too seriously involved and continue to gamble despite substantial and persistent negative personal, family, social, and financial consequences. This is known as pathological gambling or PG. PG consists of a range of behaviors, from those that may place individuals at risk for developing more serious problems to those that meet the Diagnostic and Statistical Manual of Mental Disorders-Fourth Edition (DSM-IV) diagnosable criteria for PG.

Although a small percentage of people win large amounts of money, the vast majority of gamblers lose more than they win. The reason for this is that, like any game of chance, the odds are stacked against the player. However, some individuals develop skill that allows them to improve their chances of winning. For example, knowledge of card games can improve one’s chances of winning a hand, and knowing the horses and jockeys in a race can help predict probable outcomes.

Some individuals also gamble for other reasons, including stress relief and to socialize with friends. But, whatever the motivation, any type of gambling can have serious consequences, and it is important to recognize the warning signs of gambling problems.