Gambling is the wagering of something of value on a random event with the intent of winning something else of value. It includes activities such as playing card or board games for money or participating in a sports betting pool, and it also includes buying lottery tickets or bets on horse races or sporting events. It does not include bona fide business transactions that transfer risk, such as contracts of insurance.

While gambling can be fun and exciting, it is important to recognize that it is inherently risky. If you are concerned about your or someone else’s gambling, consider seeking help.

Pathological gambling affects people of all ages and genders. It may begin in adolescence or later in life and can be exacerbated by mood disorders, such as depression, anxiety, or stress. It can also be triggered by events such as family or financial difficulties.

There are many ways to seek treatment for a gambling addiction, including cognitive behavioral therapy and psychodynamic therapy. These approaches can help people learn to stop engaging in risky behavior, confront irrational beliefs (such as the notion that a string of losses indicates an imminent win), and develop healthier coping strategies.

In addition, patients with a gambling disorder should seek support from a peer group. A popular option is Gamblers Anonymous, which follows a 12-step model similar to Alcoholics Anonymous. Other support groups can include family therapy and marriage, career, and credit counseling. A psychiatrist can assess a patient for gambling disorder and recommend the appropriate treatment.