Introduction to Compulsive Gambling Addiction
Gambling is basically the act of betting on something of significance with the intention of winning some other thing of equal or greater value. It therefore requires three factors to be in place: risk, consideration, and a payoff. Gambling luck can certainly help, but so can statistics and betting systems.
The United States has had a lot of historical interest in gambling. Some, such as the Lottery Contests put on by the states, have been very successful. Others, such as the much maligned Atlantic Lottery Bureau, have seen very little success and have been criticized for things such as “racial discrimination,” “selective enforcement” and “price fixing.” Some states, such as Rhode Island, have no legal gambling at all, while many others ban gambling outright.
Many of the problems associated with gambling are a result of state governments attempting to manage their money more efficiently. Taxation is one such example. Some states, such as Rhode Island, do not tax the progressive jackpot progressive slot machines, which allow people to wager hundreds of thousands of dollars on them, in hopes of hitting it big. These progressive slots are then funded by fees paid by those participating in the bingo and betting. Because these games involve high bets, revenue generated from gambling services such as taxes is necessary to fund the operations.
Another way that gambling can be problematic is the house edge. The term “house edge” refers to the difference between the expected amount of money kept in the bank by an honest gambler and the actual amount kept by the casino after all of the money on hand has been played. House edges can range anywhere from two to ten times the actual amount of money wagered on a single game. That means that one quarter of all wagers on any given casino game will not be won, due to the house edge. One reason for that is that jackpots increase over time; thus, the expected revenue from gambling goes down as the amount of the jackpot increases.
Although gambling addiction is a problem on its own, it can become even worse when the person participating in the game also suffers from a gambling addiction. Gambling addicts put themselves into financial risks that they would not take if they did not participate in the game. For example, someone who gambles his or her entire savings to win a jackpot at a progressive slot machine is in danger of losing all of that money if the slot machine does not pay out. The same is true for someone who participates in a lotteries by betting larger amounts than he or she can afford to lose. In both situations, the person can easily become addicted, and casinos and lotteries are just two of the many places that people exploit other people to get rich.
Fortunately for many people, there are treatment options available that can help them to overcome compulsive gambling problems. These treatment programs can take many forms, ranging from hypnotherapy to anti-depressants to self-help books and more. There is no reason that anyone should have to go through life with the threat of gambling addiction hanging over their head. If you or someone you know suffers from this problem, there is help waiting for you!