Gambling has long been a popular pastime that offers unique insights into the interaction between cognition and emotion in human decision-making. However, for a small percentage of individuals, gambling can become dangerous and even addictive. While the science of gambling is nascent, it has already yielded important findings that may help to prevent compulsive gambling and improve its regulation.
The vast majority of people who gamble do so for entertainment and excitement. Some seek out a rush of adrenaline comparable to that felt in sporting competitions. Others use it as a way to manage their emotions or distract themselves from a difficult situation. Still others gamble as a way to make money. However, the majority of those who engage in problem gambling are not motivated by enjoyment or excitement. In fact, the majority of gamblers who develop a gambling disorder do so because of a combination of emotional distress and financial difficulties.
Many researchers have attempted to understand the psychology of gambling, and in particular the development of problem gambling. One approach is based on identifying the warning signs of gambling problems, which are listed in the Diagnostic and Statistical Manual of Mental Disorders (DSM) and in other professional texts. However, this approach focuses on problem gamblers’ behaviors and motivations without considering the motivations of the healthy individuals who don’t develop a gambling problem.
One of the most influential ideas in modern gambling philosophy argues that gamblers often make cognitive distortions when making decisions. These distortions result in an over-estimation of probabilities, which leads to irrational risk taking. This view has been supported by both behavioral and neurobiological experiments. Studies of brain imaging in pathological gamblers have shown alterations of value representations in the ventral striatum, and behavioral studies have found elevated risk-taking in gamblers compared to nongamblers.
It is also argued that the concept of probability is ill-defined, and that gamblers have incorrect interpretations of it. This view is supported by research examining the idiosyncratic perceptions of different individuals, which differ from a formal mathematical concept known as Kolmogorov probability. Moreover, other concepts of probability exist, including inductive, subjective and frequentist.
Despite the fact that there are multiple theories about why people develop gambling disorders, most experts agree on several warning signs. In addition to recognizing the warning signs, it is important for individuals who have a gambling problem to seek treatment. Treatment options include psychotherapy, which involves talking to a mental health professional about unhealthy emotions and thoughts. In some cases, medications can be used to treat gambling disorders.
Getting help early is the best way to prevent gambling-related problems. The McCreary Centre Society suggests that anyone with a gambling problem should consult a counsellor to get support and advice. Additionally, it is recommended that individuals who have financial concerns address them immediately. They can visit StepChange for free debt advice or contact a credit counselling agency. In addition, it is advisable to avoid gambling if you are under stress or struggling with depression.