Gambling is a popular pastime among Australians, offering a bit of excitement in our lives with the chance of winning a nice prize or sum of money.
For many older adults, a spin on the slot machines or a bet on horses or football is an occasional and fun social activity.
But gambling should always be approached with caution. Spending too much on gambling can lead to serious financial and emotional problems.
The fact is that gambling can be addictive.
Some people are fascinated by the adrenaline rush and allure of hitting the jackpot. The bells, whistles and flashing lights of slot machines, the thrill of a ride or the anticipation of the lottery drawing can be overwhelming.
It is crucial to recognize when a harmless swing turns into problematic gambling.
Here are some signs that gambling may become a problem:
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Spending more than you can comfortably afford to lose.
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Chasing losses. Never “throw good money after bad money” because you risk getting trapped in a vicious cycle that can escalate quickly.
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Neglecting other responsibilities. If gambling starts to take precedence over important aspects of your life, such as bills, social activities, or time spent with family, it could be a sign of a problem.
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Borrow money. Do not use credit cards, loans, or money borrowed from friends and family to gamble.
The consequences of excessive gambling can be especially severe for older adults. Many retirees live on a fixed income, and losing large sums of money can jeopardize financial stability.
Additionally, the emotional toll of gambling losses can lead to stress, anxiety and depression.
