Gambling has become a popular practice around the world, and the statistics endorse the claim. According to Casino. Org about 26 percent of the word population gamble, which accounts for around 1.6 billion people. This is huge.
Though the majority knows what the practice implies, it is still important to highlight the definition for those who might not be aware of it.
By definition, “gambling” is the wagering of money or other valuables at an event with an uncertain outcome owing to the intention of winning the money. Though it sounds entirely modern, this is not the case.
The earliest traces of gambling go deep in human history, and following those hints take us back to as early as 2300BC in ancient China.
As time progressed, so did the gambling norms and popularity. But, it was not until the 20th century that a sharp turn in the popularity of gambling was witnessed, and it soon evolved into a full-fledged “Global Gambling Empire.”
Rise of gambling in America:
Talking about America, the practice rose to eminence in the 1980s and 90s. Since it is on rising in the country, more and more people have become part of this sphere and sprouting the casinos and other gambling stations.
In 2018, the U.S. gambling industry hit massive 79.42 billion U.S. dollars. As of 2019, 400 commercial casinos were noted in the U.S. A vast population, almost 49 percent of the American adult population, have a favorable opinion about the casino gambling industry. All these indicators altogether convey the undeniable growth of this activity in the coming period.
Online gambling is another big player in the arena. It surfaced in the mid-90s. Since then, it has been expanding, but an outrageous expansion was witnessed during the pandemic for quite evident reasons.
Lockdown and quarantine contributed tremendously to the explosion of online gambling worth a whopping 66.72 billion U.S. dollars in 2020.
And stop there, as it continues traversing the popularity ladder in the coming years, and an estimated 11.2 percent boost in the aforementioned figures is expected this year.
Online gambling is safe, convenient, and versatile. Do we need any other reason to interpret this massive inclination?
Sports gambling makes a big chunk of the broader gambling universe, and there is hardly a game where you can’t gamble.
In the sporty environment, the gamblers are called “recreational bettors.” The fact is, they are avid sports lovers who know all the tidbits of the game. They take the betting for a fun activity and a chance to make some extra bucks. Who would mind that?
Around 30 861 businesses worldwide are engaged in sports betting, with the industry standing at worth 218.49 Billion U.S. dollars.
Adults are equally engaged in this behavior, and many studies conducted to trace betting tendencies among them totally comply with this notion.
One study conducted in this regard to analyzing the gambling behavior in young adults aged 17-24 reported half of the study participants in gambling at some point in their life.
Main drivers behind gambling tendencies:
Here arises are questions. What are the real drivers behind this massive traffic?
Though there are many stimulants guilty in this case, alcohol and drug abuse, poor mental health, and unstable family background stood out in pushing the youngs into this problem. Not to forget online betting, which has made it quite accessible for anyone to get involved in this activity.
Till now, we have discussed a lot of facts and figures supporting the magnitude of betting. It is time to discuss the legal status of gambling. Is it legal or illegal?
Gambling legal or illegal:
Many countries recognize gambling as legal. The list involves Argentina, Brazil, and Canada. These countries do allow betting, but there are certainly some upper point limitations defining the extent you can go to.
In the United States, some states proclaim sports betting legal, following the Supreme Court ruling that struck down 1992 federal law that prohibited sports betting outside Nevada and conveyed the states to legalize it if they deem it appropriate.
How gambling affects an individual?
The question of how gambling affects individuals is deep. Note that the destructive impacts of gambling and betting are not only confined to money and the fiscal problems that may arise from this indulgence. In fact, the problem goes deeper than the surface as betting causes squashing personality disorders.
The turning point is when gambling becomes an addiction. You become addicted to it. It causes stress, anxiety, and depression. Consequently, you suffer from personality fluctuations that tremendously impact your family and relationship as well.
Not to forget the fiscal problems that follow heavy betting and lead you into serious debts.
How to overcome gambling addiction?
Though everything appears so depressed without a glint of hope and positivity, there is a lot you can do to overcome gambling impulsiveness. In this trial, the first step is to own that you gamble and are unhealthily hooked to it.
Chances are you need to consult expert advice and help to overcome this problem. But that doesn’t imply that you are mentally sick or anyhow inferior to the people around you. Note that it is just a bad thing that got stuck to you, and you need to get rid of it to move impeccably in your life.
That brings us to the end of this discussion. I hope you enjoyed it. What are your thoughts on the topic? Let us know in the comments below!