The Political Economy of Gambling

Gambling is an activity in which an individual stakes a monetary value on an uncertain event. The gambler must carefully consider whether the wager will pay off or not, and the risks and prize associated with gambling must be considered as well. A person should seek professional help before engaging in this activity. However, many people never seek treatment for gambling addiction.

Problem gamblers never seek treatment

According to recent statistics, only about ten to twenty percent of people suffering from a gambling problem will ever seek treatment for their condition. Furthermore, seven out of ten pathological gamblers never seek help from a professional or self-help group. An Australian study of 2060 adults revealed that two out of every five problem gamblers had formally declared a need for treatment and only one in every five actually accessed services. Problem gamblers are also more likely to seek treatment if they are suffering from a severe form of gambling disorder, such as gambling addiction.

Some researchers have speculated that the genetic predispositions for compulsive gambling and drug addiction are similar. Both conditions stem from the same part of the brain and trigger impulsive behavior. For example, substance addicts require increasingly high doses of a drug to achieve a high, whereas compulsive gamblers are compelled to pursue ever-riskier ventures. Moreover, both types of addicts suffer withdrawal symptoms when they are separated from their drugs.

They feel desperate for money

Problem gamblers often feel desperate for money and will do whatever it takes to fund their addiction. Often, this includes borrowing from friends or family, using credit cards, or even illegal loan sharks. In addition to feeling desperate for money, problem gamblers may be suffering from other mood and behavior disorders.

While a problem gambler may have been successful at first, they soon realize that their behavior is unsustainable and may even lead them to criminal behavior. During this time, they often feel depressed and have suicidal thoughts. They may even consider suicide in an attempt to regain control of their lives.

They seek social status

The political economy of gambling shapes gambling practices. It includes policies and institutions, social norms, and rules, as well as physical environments. These factors affect the behavior of gamblers, which includes their desires for status and the ability to win money. This is known as agency. It describes the ability to act in a certain way and cause an effect.

Gambling is often associated with other social practices, such as socialising, drinking, and even enjoying sports. Gambling is not a substitute for these activities, however.

They gamble for fun

Over five-fifths of teenagers and young adults say they gamble for fun. One-third of them do so with the intention of winning money, while the rest do so for the thrill and excitement it gives them. A significant percentage of adolescents blame their parents’ gambling habits for the development of their problem, while some say they gamble to elevate their mood and avoid the difficult feelings they might be experiencing.

They gamble to avoid debt

Gambling is a very serious problem that can ruin your life, relationships, and finances. Problem gamblers often don’t expect to end up in debt, but they are unaware of the potential consequences of gambling on their finances. In fact, many of these individuals borrow money to cover their gambling expenses, and they are four times more likely to end up in debt than those who don’t gamble.

To avoid gambling-related debt, you should limit your gambling habits to a small amount of cash and a limited amount of credit. If you live with another person, you should cancel his or her credit card or at least limit your access to it. Getting your own credit card is a good idea if you have a gambling problem.