Gambling is an activity in which people risk something of value (such as money or possessions) in the hope of winning a prize. The term is used to describe a wide variety of activities, including sports betting, horse racing, lottery games and casino gambling. Some people experience serious adverse consequences from their gambling and require treatment. Historically, the term pathological gambling has been used to describe this group. Since the 1980s, the understanding of pathological gambling has undergone considerable change. It has been reclassified as a psychological disorder in the Diagnostic and Statistical Manual of Mental Disorders, or DSM, published by the American Psychiatric Association (DSM).

Problem gambling is not only associated with loss of control over money spent, but also deterioration in relationships, health, work and home life. It is a significant cause of bankruptcy and family breakup, and is one of the leading causes of preventable suicides. People who struggle with gambling problems are often deceived by the promise of easy wealth and the false sense of security that comes from playing the game. They may develop a negative self-image and believe they are unlucky. They have difficulty identifying and discussing their problems with others, and are often unable to stop gambling.

Most people engage in gambling for fun and entertainment, but a small number of individuals become seriously involved in the behavior. They continue to gamble despite having substantial and adverse personal, family, work, and financial effects. The severity of these problems is reflected in the escalation of time and money invested in gambling.

The concept of a gambling addiction has been defined by various researchers using different criteria, but there is general consensus that it involves compulsive and uncontrollable behavior, a preoccupation with the gambling activity, difficulty stopping or cutting down, withdrawal symptoms when attempting to do so, and a lack of pleasure from non-gambling activities. In addition, gamblers with a mental illness or a history of substance use disorders are more likely to have an addiction.

Although gambling occurs in a variety of settings, the most common are casinos, racetracks, and lottery offices. People also gamble online and through videogames, which are increasingly popular with adolescents. Some of these games are rated by the Entertainment Software Ratings Board for age appropriateness and feature real-world money or merchandise as prizes. However, videogames that involve opening “loot boxes” or randomized virtual items can be considered gambling by some experts, despite the absence of a financial cost.

Although many forms of gambling are characterized by the prospect of winning large amounts of money, there is also an element of skill that can increase the likelihood of success. For example, knowledge of card strategies can help improve the chance of winning at certain card games, and an understanding of horses and jockeys can predict probable outcomes in a horse race. These skills are often discounted in the gambling literature, despite the fact that they can influence a person’s chances of winning.