Top 3 Elements of Compulsive Gambling
Gambling is the activity of betting, whether with money or other things of value, on an unpredictable event with the objective of winning something of equal value. Gambling, like all vices, requires three elements for it to exist: risk, consideration, and a reward. A key difference between gambling as a harmless pastime and as a dangerous addictive behaviour lies in the motivation of the players.
The first element is risk. The chances of winning or losing are determined by the likelihood of the event occurring. So if there is a chance that the United Kingdom will remain a major power throughout the 20th century then there is a chance that a casino in London will fail and the pound will lose considerably. This is a risk that everyone who gambles takes.
The second element is consideration. Gambling requires thought. It requires pondering over what cards are on the table and how the result of the event will affect your finances. Without this element gambling is nothing more than an event wherein you place your money and pray that it doesn’t rain. However, people who bet on the stock market and the currency exchange (exchange rate) are exposed to the unknown; there is always the risk that the long stake they have chosen won’t go their way. In fact, the most famous gambler, gamblers like Donald Trump, exist entirely on the back of a great many “what if” scenarios.
The third element is the reward. Gambling requires money. If you don’t win then you have lost. This is why the U.S. has a lot of state lotteries and illegal gambling may be its source – the fact that there is a lot of money to be made.
The last element to consider is expected to return. Gambling expects to return in one form or another. It can be in the form of cash (normalized by the number of times you have bet on the stock market and won), material items (like vehicles, clothes, or houses), or services (like gambling on the stock market and winning big). Although gambling may not always be based on material things, it still exists. Therefore, if you have a lot of money to put down and wager on the stock market, then you are gambling.
The problem with compulsive gambling, whether online or not, is that it takes time to see results. This is why some gamblers will make multiple bets at once. For instance, someone who gambles on the stock market may start by placing a bet every few days, but might eventually end up placing bets daily or several times per day. This kind of behavior is called compulsive gambling.