Gambling is an activity in which a person risks something of value, such as money or possessions, to win a prize that may be either cash or goods. People gamble in many ways, including playing games of chance, buying lottery tickets, betting on sporting events or other outcomes, and using collectible game pieces as stakes (such as marbles, pogs, or Magic: The Gathering cards). Approximately $10 trillion is wagered annually worldwide. Some forms of gambling are legal, while others are not.

The most common type of gambling is placing a bet or wager with the hope of winning a prize. When done correctly, the prize can be a small amount of money or an item of value. In some cases, a larger prize can be won by predicting an outcome based on probability, such as the result of a football match or the outcome of a scratchcard. Typically, the choice of the gambler is matched to a set of odds, which indicate how much a player might win if they predict the outcome accurately.

For some individuals, the thrill of winning and the release of dopamine associated with it can become addictive. This can lead to a variety of problems, such as withdrawing from friends and family or from previously enjoyed activities, lying about how much they’ve won or lost, and spending more than their budget allows. Research into the underlying causes of disordered gambling is complex and varied, with varying results for treatments based on integrative approaches. Longitudinal studies are an important methodological tool, allowing researchers to identify factors that moderate and exacerbate gambling participation over time.