Gambling occurs when you stake something of value, such as money or goods, on an event with an element of chance and the potential to win a prize. It can take place anywhere, including online and in real life. The prize could be anything from a cash prize to something of value like a car, house or holiday. Gambling includes betting on sports, games of chance, races, casino games, card games, scratch cards, keno, lottery and horse racing.

The highs and lows of gambling can cause serious mental health problems – this is especially true when large amounts of money are involved. People with mental health issues may find it harder to cope with the lows, which can lead to self-harm or suicide.

It is important to understand the risks of gambling, so you can make informed decisions. You should never gamble with money that you cannot afford to lose. You should also set time and money limits in advance. If you are having trouble keeping to these limits, then try to stop gambling altogether or reduce how often you gamble. If you are unable to stop gambling completely, try other ways of relieving unpleasant feelings, such as exercising, spending time with friends who don’t gamble, or practicing relaxation techniques.

Gambling can have positive effects on communities – for example, it can raise funds for good causes, and bring people together. It can also teach children about risk and probability in an engaging way.