Gambling is the wagering of money or something of value on an event with an uncertain outcome with the primary intent of winning money or material goods. Gambling thus requires three elements be present: consideration, chance and prize.
While it may seem obvious what gambling is, emerging technology has blurred the lines to expand the range of ways people gamble.
Traditionally gambling is an activity where someone risks money or belongings, there is an element of randomness or chance involved and the purpose is to win.
The traditional methods that usually come to mind are:
- Gaming Machines/Pokies
- Scratch cards
- Online Gambling
- Sports betting.
As different ways to gamble have developed it has become difficult to identify some instances when someone has a gambling problem.
In addition to the traditional definition of gambling, urges and the way they affect people are a strong factor in gambling addiction.
Someone can have a gambling problem if they are addicted to an activity where they cannot control the urge to participate, and it’s having a negative impact on their lives.
Emerging gambling activities include:
- Online investment trading
- Fantasy sports
- Games with In App Purchases
- Online Auctions.