Gambling can be defined as the act of wagering money on sports, games or any event which has an uncertain ending, with the intent of winning either material goods or money. There are three basic factors which are required in gambling, and they are: Chance, consideration and prize. There are two basic time-frames of gambling; it could be immediate and it could be in the long-term.
The points listed below, are negative effects of gambling:
- Addiction: Gambling addiction is undoubtedly top on the list. It is a well-known fact that men are prone to being more addicted than women, when it comes to gambling, and it is also known that the thirst for gambling is high among those who are low-income and average-income earners, than the high-class citizens.Gamblers find it hard to stop because, they believe they can win when they try the next time. In addition to this, the prize for a bet is usually high, hence, there is this desire to strive better next time.
With time, the gambler would realize that all his money has been wasted on gambling. However, there are times when gamblers rake in some money, the periods when they lose are often the most painful and disadvantageous.
- It affects the family: A gambler would barely have time to take care of his family. This is because, the money needed for their upkeep, would be invested in trying out different gambling opportunities. Hence, the family would be at the receiving end. It particularly affects children, because they are more likely to toe the path of a parent-gambler, as this is done in a bid to assist their parents in their own little way.
- Anxiety and depression: A good number of gamblers are usually victims of depression and anxiety, as it is very difficult for them to think and sleep. Moreso, solving problems becomes a herculean task for them. With time, it affects their mental health, and makes them very unstable.
- Risk of suicide: Gamblers are prone to commit suicide, this is usually after a huge sum has been lost, when they invested it in a bet. Also, those who are already down with depression and anxiety, are at a higher risk of committing suicide.