Gambling is the wagering of something of value on an event that has some element of chance or randomness. It involves consideration, risk, and a prize (a potential win). Historically, people have used gambling to relieve boredom, self-soothe unpleasant emotions, or as an outlet for anger. People also use it to try to improve their financial circumstances or obtain things they desire. There are many forms of gambling, including: lotteries, sports betting, horse racing, and casino games.

Despite the fact that a substantial portion of the world’s population enjoys gambling, it can have serious consequences for some individuals. These consequences may be direct or indirect. Direct consequences include the loss of money and other property. Indirect consequences include harm to relationships, work, and school.

People may also experience a variety of other difficulties related to gambling, such as depression, stress, substance abuse, and anxiety. These difficulties can lead to or worsen gambling problems. People who have a history of mood disorders may find it difficult to recognize when they are gambling excessively and might hide their gambling activity or lie about it to friends and family members.

Over the years, understanding of the adverse consequences of gambling has changed significantly. This change in understanding has been reflected and stimulated by the evolving classification and description of pathological gambling in the various editions of the Diagnostic and Statistical Manual of Mental Disorders published by the American Psychiatric Association. The comparison of pathological gambling with substance abuse has been highlighted in the DSM since its third edition in 1980 and again in its revised editions in 1987 and 1994.