While gambling is an enjoyable activity that provides some relief from unpleasant emotions, it is also an addictive behavior. Gambling is a way to self-soothe feelings of anxiety and boredom, as well as a way to socialize. However, gambling addiction can have serious negative consequences on one’s health and well-being. These negative effects can lead to serious depression, despondency, and even attempts at suicide. Consequently, it is important to get help for gambling addiction if you suspect that it is affecting your quality of life.
There are some key differences between gambling and investing. First, gambling has a finite time span, while investing may take years to gain profit. Second, both involve risk. Gambling requires you to bet against your own interests. Third, there are some cognitive biases involved in gambling. For instance, a professional gambler may exhibit a preference for betting on sports events or horse races. Furthermore, they may be susceptible to motivational biases.
The next step in treating gambling addiction is to build a support system. First, try to reach out to family and friends to ask for support. Second, make friends outside of gambling, take education classes, and volunteer for a good cause. Third, consider joining a peer support group such as Gamblers Anonymous. This 12-step program is similar to that used for alcoholics. To become a member, you will need a “sponsor,” an ad hoc gambling counselor.