Introduction to Gambling Addiction
Gambling can be described as an activity in which a person bets some one some thing of equivalent value against some other thing of equivalent value. For instance, the player who likes to play a game of blackjack pays with money to buy cards, the player who plays a game of roulette pays with his/her money to the dealer, the player who bets on his favorite team in the race pays with his/her money to the race promoter, and so on. Gambling therefore requires three components for it to take place: consideration, hazard, and a reward. The first component of gambling is called the consideration. In gambling one has to look into the probability of the event happening and not only into the potential gains that may happen. There are various types of gambling, for example, gambling of chances, gambling with probability, etc.
The second component of gambling is called the hazard. This means something bad will happen, for example, death or injury or some damage to property. In gambling addiction one has to consider a number of things to make sure that the risk involved is worth the value of the reward that may not happen. For example, a casino where a player pays with a credit card to gamble may offer bonuses of a certain amount of cash to the player who wins a certain amount of money. Therefore the casino regards the player as a high risk business and offers a bonus.
The last component is the reward. This is the most important part of gambling and it is also the hardest to attain. Rewards can come in the form of cash, material things such as cars and houses and other things. Gambling as a business was very popular in the United States in the late part of the twentieth century. Some states in the United States like Montana, Oregon and Alaska have made lotteries illegal.