Gambling addiction is a chronic condition in which you repeat your behavior in order to feel a sense of high. When you lose money, you chase it, believing you can win it back. It is a vicious cycle, and once you’ve started to lose money, your craving for it will increase. This can affect both your physical and psychological well-being. To get out of this vicious cycle, follow these simple steps. To overcome gambling addiction, start by eliminating your credit card and online betting accounts. Limit your personal spending and keep only a small amount of cash with you.
The earliest evidence of gambling dates back to ancient China. Tiles from around 2,300 B.C. were used to play a lottery-type game. Today, gambling is not only a recreational activity, but it can also be an extremely profitable one, if done properly. Gambling can be a fun hobby for many people, and in the United States, its revenue has reached $13.6 billion in the second quarter of 2021. However, it is important to note that gambling is not an activity you should undertake lightly.
To identify a person with gambling addiction, mental health professionals have created criteria for assessing whether they suffer from problem gambling. In the Diagnostic and Statistical Manual of Mental Disorders (DSM), gambling is listed alongside other addictive behaviors. In addition, a Gambler with this condition has repeatedly tried to stop gambling without success. If you think you or someone you know may be suffering from this disorder, it’s important to seek treatment. Your health care provider can refer you to a treatment provider if necessary.
Gambling can be dangerous for your health and relationships. You can lose your money if you don’t have the money to pay your debts. Gambling can also affect your family and work life. Gambling can cause financial catastrophe, as it can destroy relationships and careers. Your finances can also suffer, and you may even steal money in order to cover your gambling expenses. The sooner you begin treatment, the better. In the meantime, do not hesitate to try gambling counselling. These services are confidential, free, and available around the clock.
If you or a loved one suffers from compulsive gambling, you should consult a gambling disorder specialist. If you are unable to stop gambling, you might be suffering from compulsive gambling. This disorder affects the entire family, including your relationships with your friends and family. The only way to recover is to seek professional treatment for gambling addiction. You may be suffering from compulsive gambling or a more serious gambling disorder.
Gambling income can be reported on your federal tax return, but it is important to remember that any amount of gambling income that exceeds your winnings cannot be claimed as a tax write-off. For instance, if you spend $10,000 to win $4,000, you can’t claim your entire $10,000 gambling expense as a tax write-off. In addition, you cannot claim gambling income if you’re a non-resident of the U.S.