Gambling is any activity in which you risk money or other material goods in the hope of winning a prize. It can involve any game of chance, whether it’s buying lottery tickets, betting on horse races or playing poker online. People gamble for many reasons: to socialise, to escape worries and stresses or to make money. But gambling can have serious consequences if it gets out of hand. Having a gambling problem can strain relationships, lead to debt and even cause mental health problems. If you are worried that you or a loved one may have a gambling problem, there is help available.

The first step to overcoming a gambling addiction is to understand how it works. While you might think that it’s simply a matter of luck or skill, the reality is much more complex. There is always someone on the other side of a wager, and they have an edge. This advantage is either predetermined (think of the house in a casino or a roulette wheel) or it can fluctuate (think of betting odds that change). You have to understand this edge to avoid losing money and getting into trouble.

Another important step in overcoming a gambling problem is to find a way to stop gambling altogether. This might mean putting your credit cards in the safe, letting someone else manage your money or closing online betting accounts. It might also be helpful to talk to a therapist. Cognitive behavioural therapy (CBT) can help you identify and challenge beliefs that fuel your gambling, such as thinking you’re more likely to win than you are or believing that certain rituals can bring you luck.

If you are concerned about your or a loved one’s gambling habits, it is important to seek help as soon as possible. You can call a helpline or visit a GP, and there are specialist services for young people, men, women and families.

Gambling has been linked to depression, anxiety and suicidal thoughts. If you or a friend are in immediate danger, call 999 or go to A&E.

A psychiatric assessment can help you decide if it is appropriate to continue with gambling and what to do next. There are also community and residential treatments for people with severe gambling addictions. If you’re struggling with your debts, contact StepChange for free, confidential advice.

Only two states, Utah and Hawaii, do not have legal gambling facilities, but there are a number of ways to gamble, including online, through telephone and satellite TV. While some forms of gambling are more dangerous than others, they all involve risking something valuable on an uncertain outcome. Some of these activities are illegal and can have serious consequences for your financial and personal wellbeing. Despite the risks, many people still enjoy gambling as a form of recreation.