Why You Should Never Gamble
Gambling is the wagering of money on an event with an uncertain outcome, with the primary intent of winning additional money. Gambling thus requires three elements to be present: consideration (an amount wagered), risk (chance), and a prize.
With all of this in mind, it’s no wonder that gambling can be so incredibly addictive. It’s not so much the desire to win large amounts of money that drives people to gamble, it’s the excitement and anticipation of the win that keeps people coming back for more.
There are many different types of gambling, from casino games to lotteries to sports betting, and more. And while some forms of gambling are riskier than others, all forms of gambling carry with them the potential for negative consequences. Let’s look at some of these in detail.
9 reasons why you shouldn’t gamble
1. Gambling can lead to addiction
Right at the top of the list of reasons why you shouldn’t gamble is the fact that it can, and often does, lead to addiction. Gambling addiction is a real and serious problem that affects millions of people around the world.
If you have a gambling problem, you may find that you’re unable to control your urges to gamble, even when it’s causing you financial, emotional, or relationship problems. You may gamble more and more, chasing your losses, and lie to family and friends about your gambling activities.
Addiction to anything is never a good thing, and gambling addiction can be especially damaging because it has far-reaching consequences.
2. Gambling can lead to financial ruin
If you’re not careful, gambling can lead to financial ruin. It’s all too easy to spend more money than you can afford on gambling, and the debts can quickly spiral out of control.
The issue arises when you “revenge gamble” to try and win back the money you’ve lost. This almost always results in a steeper loss of money. It’s a vicious cycle that you’ll have trouble breaking.
3. Gambling can lead to crime
For some people, gambling can lead them into a life of crime. This is usually in the form of theft or fraud, in order to get money to gamble with or pay debts incurred through gambling.
Gambling can also lead to other types of crime, such as violence. This is often seen in domestic situations where one partner has a gambling problem and the family is struggling financially as a result.
4. Gambling can be dangerous
Some shady individuals prey on gamblers and offer them loans with extremely high-interest rates. If the gambler can’t repay the loan, they may be threatened with violence or even death.
In addition, there have been cases of people being kidnapped and held for ransom to pay off family members’ gambling debts. This is obviously a very dangerous situation to be in and one that can easily spiral out of control.
5. Gambling can damage relationships
Usually, a person who starts gambling has others around them who are supportive, whether it’s family or friends. They might even have dependents who rely on them financially.
However, as gambling continues and becomes a problem, these relationships can quickly break down. The gambler may start to lie and steal from those closest to them in order to get money to gamble with. This will inevitably lead to trust issues.
6. Gambling can lead to job loss
For some people, gambling can become so all-consuming that it starts to interfere with their work life. They may start calling in sick or taking longer lunch breaks to gamble.
In extreme cases, they may even start stealing from work to fund their gambling habit.
Another consideration that often gets ignored is the type of job you have. There are some jobs, i.e., in banks or other places where money is handled, where an employer is likely to be very strict about any gambling activities. They don’t look favorably on staff who gamble because it could put their business at risk.
7. Gambling can lead to mental health problems
Mental health problems such as anxiety, depression, and stress are all common among gambling addicts. The addict may start to feel hopeless and helpless as their addiction takes over their life or they have a string of losses.
In some cases, mental health problems can be so severe that the person attempts or succeeds in taking their own life.
8. The house always wins
You’ve probably heard this saying a thousand times, but what does it mean? Basically, the gambling industry is designed to make money for the operators, not the gamblers.
The odds are always stacked against you when you gamble, and over time you’re likely to lose more money than you win. The house has an edge in almost every type of gambling game, so the longer you play, the more likely you are to lose.
9. Gambling won’t solve your financial troubles
If you’re in debt or struggling to make ends meet, gambling is not the answer. Likely, you’ll just end up digging yourself into a deeper hole that will be even more difficult to get out of.
Gambling should only be done for entertainment purposes with money that you can afford to lose. If you’re looking to make some extra cash, you’re better off finding a part-time job.
Conclusion
Our motto when it comes to gambling is simple: don’t even start. It’s not worth the risk, no matter how tempting it might be.
If you feel the need to give it a try, only do so with money that you can afford to lose, not your rent or grocery money, and be prepared to lose it. Anticipating the loss will make it easier to walk away if you do happen to lose.
And finally, don’t forget that the house always wins in the end. Walk away a winner by not gambling at all.
If you or someone you know has a gambling problem, there are plenty of resources available to help, wherever you are in the world. Don’t hesitate to reach out for help if you need it.