Gamblers refer to it as betting. It is one of the three major types of gambling. There are two ways to play betting. One is known as the ‘house’ method which involves placing bets with ‘house’ money (innocent) and then receiving payment for your winnings. The second type is known as ‘advance’ betting where you place bets with ‘advance’ money and receive payment for your winnings before the race begins. Both types of betting can be used in almost every form of gambling.
Gambling is essentially the wagering something of worth on an unknown outcome with an uncertain result with the intention of winning something with an equal amount of risk. Most gamblers will agree that it is one of the most interesting forms of gambling. The best way to learn how to play a casino game is to find an experienced player who is willing to teach you. Gambling as I mentioned above needs three components to exist: risk, consideration, and a good prize. Without any of these things, you’re basically just throwing your money away.
There is a great American psychiatrist called Rollo May, who examined the mental health of gamblers and addicts. He concluded that over 80% of gamblers had a gambling problem. Based on his study, he classified gambling addiction into three main categories; thrill seeking, boredom seeking, and compulsion. Of all the three, thrill seeking is the most dangerous form of gambling because the addict is chasing his losses. For every winner there is a loser and this addiction can lead to horrible consequences if not treated correctly.
In contrast, most American problem gamblers do not pursue their losses aggressively. This allows them to live a relatively normal life. They may have a few brushes with bankruptcy due to their financial reliance on their gambling addiction but they usually have family finances fall back on. This means that if they lose, they can get back up on their feet. In most cases, family finances allow gamblers to avoid family issues if they so choose.
Most people who are addicted to gambling do not have a very good idea of what they are actually risking by placing bets. Because credit cards and debit cards make it easy to place bets, problem gamblers will often take out loans and use credit cards to pay for their bets. This leads to a vicious cycle in which the gamblers’ credit card bills often go unpaid while their spending spirals out of control. The cycle only stops when the gambler decides enough is enough and seeks treatment.
In my personal experience, many people with problems caused by gambling addiction also suffer from panic attacks, social withdrawal, depression, and other psychologically devastating ailments. Gamblers may use alcohol or drugs to mask their problems. This will only create more problems because substances will only mask the pain instead of taking away the symptoms. Addiction is psychological, not physical, so treating your gambling addiction should begin with letting yourself feel the negative consequences. Only then will you be able to address the problem and overcome it.