Gambling can be a fun activity, but for some people, it can become a dangerous addiction. This addiction can have a devastating impact on individuals, families, and communities.

A Recent Tragedy: Highlighting the Risks

Just recently, on March 18, 2024, a heartbreaking incident occurred in Chitradurga, Karnataka, India. Darshan Babu, an engineer, reportedly lost a staggering ₹1.5 crore (over $180,000 USD) through IPL betting. However, this addiction plunged him into crippling debt and harassment from creditors. The immense financial pressure and emotional distress tragically led to his wife Ranjitha’s suicide at the young age of 23. According to reports, Ranjitha was extremely distressed by the mounting financial pressure and the harassment from creditors due to her husband’s gambling debts.

The police arrested three loan lenders in connection with the case. In fact, this incident has sparked discussions about the dangers of gambling addiction and the need for support systems for those struggling.

This incident serves as a stark reminder of the devastating consequences of gambling addiction. It’s not just about the financial ruin it can cause, but the emotional toll it takes on individuals and their loved ones.

Understanding Gambling Addiction

Gambling addiction, also known as compulsive gambling or gambling disorder, is a serious mental health condition. It is characterized by an uncontrollable urge to gamble despite negative consequences. People with gambling addiction often:

• Gamble more money or for longer than they intended
• Need to gamble with increasing amounts of money to feel the same excitement
• Are unable to control, stop, or reduce their gambling
• Restless or irritable when trying to cut down on gambling
• Lie to family or friends to hide the extent of their gambling
• Jeopardize or lose relationships, jobs, or educational or career opportunities due to gambling
• Rely on borrowing or stealing to finance gambling
• After losing money gambling, feel a need to return to gambling to try to win back money (chasing losses)

The Statistics Paint a Grim Picture

Gambling addiction is more common than you might think. Here are some statistics from across the globe:

• National Council on Problem Gambling (NCPG) – USA: An estimated 2 million adults in the US (or 0.8% of the population) struggle with a severe gambling problem each year.
• The National Responsible Gambling Foundation (NRGF) – Australia: Up to 800,000 Australians (or 3.2% of the population) are estimated to experience some form of gambling harm each year.
• Public Health England (PHE): In the UK, an estimated 450,000 adults (or 0.9% of the population) are problem gamblers and a further 2.2 million (or 4.5% of the population) are at-risk gamblers.

The Progression of Gambling Addiction

Gambling addiction often develops gradually. However, tt can start with occasional, social gambling that progresses to more frequent and risky behavior. Thus, here are some of the stages of gambling addiction:

• Winning Phase: This initial phase can be misleading. Winning can create a sense of euphoria and excitement, encouraging the person to gamble more.
• Losing Phase: As gambling continues, losses become more frequent. Therefore, the person may start chasing losses by gambling more money in an attempt to win back what they lost.
• Desperation Phase: Debts accumulate, and the person may resort to lying, stealing, or borrowing money to finance their gambling habit. In fact, relationships and careers suffer as gambling takes priority.
• Hopelessness Phase: Feelings of shame, guilt, and despair become overwhelming. The person may experience suicidal thoughts or attempts.

Breaking Free From the Cycle

If you or someone you know is struggling with gambling addiction, there is hope. Here are some resources and steps you can take:

• Seek professional help: A therapist or counselor specializing in gambling addiction can provide support and guidance.
• Join a support group: Connecting with others who understand what you’re going through can be invaluable.
• Self-exclusion programs: These programs can help you restrict your access to gambling venues and online gambling sites.
• Focus on healthy coping mechanisms: Develop healthy activities and hobbies to replace gambling.
• Build a strong support system: Surround yourself with supportive friends and family members who can encourage you on your recovery journey.

Remember, you are not alone. There is help available.

Financial consequence of Gambling Addiction

Gambling addiction can have a devastating impact on a person’s finances. Gambling addiction isn’t just about the thrill of the win or the agony of defeat; it’s a relentless financial storm that can devastate individuals, families, and communities. However, the allure of easy money and the desperate chase to recoup losses create a vicious cycle that rips through financial security, leaving behind a trail of debt, broken promises, and shattered dreams.

Here are some of the consequences:

• Debt: Problem gamblers often accumulate significant debts due to chasing losses. Gamblers with an addiction can’t stop hoping for a big win to pay back all their losses. This makes them gamble more and more, even using credit cards, loans, and savings. Lastly, they end up with a lot of debt that’s very hard to get rid of.
• Financial strain: Gambling addiction can strain household finances, impacting essential expenses. Gambling addiction isn’t just a personal issue. The financial strain it creates can ripple outward. Loan companies and banks lose money when gamblers can’t repay their debts. Communities can even see a rise in crime as people struggling with addiction resort to stealing or other illegal activities to fund their habit. However, these social costs highlight the far-reaching impact of gambling addiction.
• Employment Issues: Gambling addiction can have a significant impact on an individual’s career. Preoccupation with gambling can lead to decreased productivity, missed deadlines, and absenteeism. The stress and anxiety associated with the addiction can also affect focus and concentration. In severe cases, individuals may resort to stealing from their employers or colleagues to fund their gambling habit, ultimately leading to job loss.
• Loss of Assets: Gamblers with big debts might have to sell their toys, jewelry, or even their house to keep playing. This makes things super tough for them and their family. Think of it like having a comfy blanket to keep you warm. Furthermore, gambling addiction can take that blanket away, leaving everyone feeling cold and scared. Nevertheless, This can include selling personal belongings or even putting the family home at risk through risky investments.