Gambling involves risking something of value, such as money or possessions, on an event that is primarily determined by chance and is not under the control of the gambler. It does not include bona fide business transactions, such as the purchase or sale at a future date of securities and commodities and contracts of indemnity and guaranty and life, health or accident insurance.

People who have a gambling problem experience distressing consequences that negatively affect their physical and mental well-being, their family and friends, their work and school performance, their relationships and their finances. In extreme cases, they may even end up homeless or in prison. Problem gamblers are also at risk of suicide.

There are a variety of ways to gamble, from betting on the outcome of a sporting event to playing a game of skill such as poker or baccarat. The most common form of gambling involves betting on a game of chance, such as a casino game, where a player places a wager against the house. This can be done either in person or online, and the objective is to win a prize if the player has the best hand or is closest to the number drawn.

The most common causes of gambling problems are related to underlying conditions such as substance abuse and depression. Treatment focuses on changing unhealthy gambling thoughts and behaviors. Therapy can help you learn to fight your urges and solve the financial, work, and relationship problems caused by gambling. One type of treatment is cognitive-behavioral therapy (CBT), which teaches you to identify and challenge false beliefs and rationalizations. Another is family-based therapy, such as Gam-Anon.

Many people find the excitement and reward of gambling to be addictive. They may become preoccupied with thoughts of gambling, such as reliving past experiences or handicapping the next venture. They may lie to their friends and family about how much they are spending or rely on others for money to cover losses from gambling. They may even steal to finance their gambling activities.

There are a number of theories that have been proposed to explain pathological gambling, including behavioral-environmental reasons, a general theory of addictions and the reward deficiency syndrome. Regardless of which model is accepted, it is important to recognize that gambling behavior can be very difficult to change and that many people who have gambling disorders do not seek help. This may be because they are ashamed of their gambling and believe that they can overcome their problems on their own. Nevertheless, the harms associated with gambling can have serious long-term effects on health and relationships, and it is essential to seek help when it is needed.