Whether you are into poker, slot machines or sports betting, there are some key points to remember when it comes to gambling. From the ancient practice of coin flipping to sports betting, the risk of compulsive gambling can destroy your life.
Coin flipping is the oldest form of gambling
Despite its storied association with gambling, coin flipping is not for the faint of heart. Its most famous incarnation, the NFL football game, requires the use of coin tossing in order to determine the first use of the ball. The same principle is used to decide the score in American Football, Australian Rules Football and other sports. Its sexier cousin, Keno, is a far less popular game.
Using a coin toss, one can choose whether the coin bounces in the air or is plucked off the floor. The most common use of the game is tossing the coin, but catching it in one’s hand and flipping it over the other hand is the true measure of skill.
Sports betting is a form of gambling
Until recently, sports betting was only legal in a few states. But after the Professional and Amateur Sports Protection Act (PASPA) was overturned by the Supreme Court, states were allowed to establish their own policies. The result was a patchwork of legal sports gambling. Today, there are over 13 billion dollars being bet legally on sports in the United States.
Betting on sports can range from simple wagers on a game’s outcome to wagers on a contest such as Dancing with the Stars. In addition to these forms of gambling, there are also wagers on non-human contests such as horse racing and greyhound racing. The most common form of sports betting is odds betting. It involves evaluating contestants and determining the probability of their winning.
Compulsive gambling can destroy lives
Having a compulsive gambling problem can be a life-altering experience. It’s a socially acceptable form of entertainment, but it can also be a financial nightmare. Many compulsive gamblers wind up in debt, and some even get arrested for crimes they did not commit. One California businessman has argued that jailing him for not paying markers is comparable to a debtor’s prison.
While it’s not for lack of a better name, the Council on Compulsive Gambling has a new program: Text-for-Help. This app allows users to text the organization and receive free information and advice about gambling addiction, as well as links to helpful resources. The organization estimates that there are as many as 10 million problem gamblers in the U.S., with the Asian population having the highest rate. It’s no secret that Sheldon Adelson has been campaigning to get online gambling outlawed, but he’s hardly alone.
Help for problem gamblers
Providing help for problem gamblers is important because excessive gambling can lead to bankruptcy, loan sharks, theft and even suicide. It also carries a high rate of psychiatric comorbidity.
There are many resources to help problem gamblers. These include self-help groups, telephone help lines, professional counselling and rehabilitation services. The first step in seeking help is identifying the problem.
The National Council on Problem Gambling (NCPG) is a non-profit organization that provides a national 24-hour helpline and online chat service. It also sponsors a network of local support groups. There is also a website and Twitter account.