Gambling, more commonly referred to as “binge gambling” or “gamble-a-holic” is a method of gambling in which the player makes small bets or tries to win large amounts of money without considering the possible effect that such action might have on his chances of losing the money he is holding. Gambling, by its basic definition, is the act of risking something for the purpose of winning something else with the intention of losing something else. Gambling therefore requires three essential ingredients to be present in a gambling game: risk, consideration, and a payoff. A good example of risk in a gambling game would be a player who bet on the wrong horse, while all others bet on the favorite. The loss of the bet would be considered a “payoff”, while the profit the player made would be determined by the amount of money that was lost.
Because gambling has a high risk factor, it also has a high payout. In order for a payout to occur, the player must also consider the risks involved and weigh them against the reward of increasing his chances of winning. In most cases, this will include the addition of an additional risk or penalty to the initial bet, or the taking of a certain number of bankrolls from which all profits are divvied out. Because gambling may have its risks and therefore may lead to addiction, especially if the addiction is self-induced, there is an increased risk that the player will continue to place bets, regardless of whether or not he is winning, due to the fact that gambling always involves some sort of risk. Addictions to gambling may either come about because of the perceived reward of success, the need to escape from the pain of failure, or the perceived negative aspects of gambling.
To cope with gambling addiction, the patient may consider giving up gambling by joining a rehab program. Many of the addiction specialists offer this as an option to their clients. However, some addicts prefer to deal with the problem by themselves. In addition to the traditional therapies that are used to treat addiction, there are a number of self-help books and other resources that can help people learn to cope with addiction and overcome it. This is why it is important to check with local libraries or the Internet before purchasing any self-help material on gambling and/or a casino games in order to ensure that it is authentic and will work for the person’s needs.