Gambling vs Betting

Find Help for Betting and Gambling Addiction at Icarus Nevada

In recent years, both gambling and sports betting have become more accessible than ever. Instead of visiting an actual casino, online platforms offer casino games, fantasy leagues, and sports betting applications. One provides traditional forms of casino gambling, while the other entails sports betting. But is there a difference between gambling vs. betting?

Over the last few years, slot machines, card games, online gambling, and other vices in the gambling industry have become a click away for millions of Americans. This comes without the worry of illegal gambling when you factor in the number of states that have legalized online casino games and online sports betting.

It sounds like harmless fun, but when a simple hobby turns into a compulsive mental health disorder, you must understand precisely what your loved ones are facing.

In this article, we take a look at Icarus Behavioral Health in Nevada and how this compassionate facility is helping individuals and families confront gambling addiction, including sports betting, as a great deal of gambling involves betting.

Gambling vs. Betting: What’s the Difference?

The terms gambling and betting are often used to describe events that take place on online betting platforms, sporting events, and illegal gambling houses. However, there are significant contrasts between the two that are worth noting, especially when it comes to problem gambling.

Gambling is a broad term that involves risking money or valuables on any event with uncertain odds. The primary goal is to win money or some form of prize. The following games are usually called gambling by definition:

• Slot machines
• Roulette
• Poker
• Lottery ticket

Betting refers to placing a wager on the outcome of a specific event, usually a sports event. Whether predicting a horse race, the specified time a team holds the ball, or simply the outcome of a game, betting involves more emotion than entertainment. Many place wagers based on personal knowledge, loyalty, or data.

While all bettors fall under the umbrella of a form of bettors, the experience and psychology behind it can differ substantially.

What Are Forms of Gambling?

Understanding the range of gambling activities can help clarify whether a behavior might be slipping into the territory of addiction.

Forms of gambling include casino gambling, involving traditional games like poker, craps, and roulette. Slot machines and online slots are known for their high stakes, but they generally carry a high risk and are much more challenging to win consistently.

Online gambling platforms can be easily accessed through smartphones. They combine elements of skill and pure chance, and depending on the money you wager, various outcomes are possible.

Poker Rooms

Poker rooms include a collection of card games, usually considered illegal gambling, that take place live or through virtual games to earn money.

Raffles and Bingo

These other forms of determining wages based on whether you reach the finish line still involve risk, and the outcome dictates whether you win or lose a certain amount. As innocent as they seem, raffles and bingo can quickly become serious problems.

Understanding Sports Betting

Sports betting involves placing a wager on the uncertain outcome of a sporting event. This can include any popular form of pro sports, from basketball to football, and even the newer eSports leagues.

After the Supreme Court and other lower court rulings that have transformed these once-formal, illegal activities into a means for Uncle Sam to generate more revenue.

You might place a single bet or dive into a broader range of activities, such as participating in a fantasy league, or join people as they place bets on live contests. Because sports betting is tied to loads of data, people bet with more emotion.

This creates a false sense of security, leading to the belief that the individual has more control over their destiny. This can deepen the addiction, making a betting problem more complex.

Why Are Gambling and Sports Betting So Addictive?

Whether it’s old school coin tossing or betting on games, gambling taps into the same reward system as many drugs. Any time someone wins even a small amount of money, or loses money, and then wins money back-to-back, the brain releases dopamine.

This feel-good chemical is associated with reward. Over time, this can develop into problem gambling as users become increasingly driven to chase the thrill of a big win. Even when they lose, some believe this triggers an even stronger drive to engage in betting and gambling.

A Chance at Redemption

No matter how big the loss, or seemingly insurmountable the odds of winning become, a gambling addict always believes they’re one “big win” or “big hit” away from getting it all back and more.

As long as they have a dollar in their pockets, gambling addicts will spend it thanks to the massive odds and lure of a monstrous parlay with enormous odds where a buck can become $10,000, or sinking it into a slot machine can net you six, seven, or even eight figures.

The problem this creates is the “just one more try” theory. This is a vicious cycle that plays a massive role in betting and gambling addiction. It’s this feeling that tricks the brain into feeling close to a win with each wager, pushing them to bet on the next game or make that next spin.

The Vice that Never Sleeps

When it comes to other addictions, like drugs and alcohol, there are usually limits and cut-off times. Even drug dealers go to sleep, and stores eventually stop selling beer or liquor after a specific time.

However, casinos are typically open around the clock, and apps are available for download 24 hours a day. You never have to look far to find the next opponent for blackjack, a slot machine waiting for a spin, or even sporting events taking place halfway across the globe while most Americans sleep (soccer and Korean baseball are two popular options).

If you or a loved one fears that a potential gambling problem exists, you must be aware of the warning signs that come with this addiction.

Warning Signs of a Sports or Gambling Habit

Has your spouse or loved one been making strange financial moves in your bank accounts, or have you noticed sudden shifts between accounts you didn’t recognize before? Look out for the following red flags that might indicate a gambling or sports betting addiction:

• Large transfers in or out of a specific bank account that generally didn’t happen before. This can be especially alarming if you notice large incoming transfers from a savings or some other type of account that’s been reserved for savings or emergency funds.
• You notice large outgoing amounts from a credit or checking account to random but new sites once or twice per week. These are likely deposits to new casinos or sportsbooks.
• Individuals may experience irritability or become restless when they’re unable to gamble or engage in sports betting.
• Many individuals battling gambling addiction also suffer from co-occurring disorders like depression, anxiety, and substance use.

The Consequences of Gambling and Betting Addiction

There are significant consequences of gambling and betting on sports that can lead to damaging and potentially life-changing events. If you or someone you love suffers from problem gambling or betting, you could face the following consequences:

• Financial collapse is one of the most significant consequences of gambling and betting. It’s not uncommon to see a compulsive gambler or bettor drain their bank and savings accounts, max out their credit cards, refinance their homes or cars, and eventually deal with foreclosure or repossession.
• Many problematic gamblers often leave a string of damaged relationships behind them in their wake. Because of the constant moments of broken trust, emotional withdrawal, and the neglect of the needs of families, loved ones can feel isolated, hopeless, and even betrayed. This leads to feelings of resentment, placing even more strain on the relationship.
• Legal trouble can quickly become an issue in cases of gambling and betting addiction. In some cases, individuals feel the urge to bet or gamble so strongly that they turn to various types of crime to feed the addiction. This can include stealing money from loved ones, committing forgery, and other forms of white collar crime that can bring the fast money a gambling addict needs to feed their addiction.
• Those who have problems with gambling and betting often deal with depression and anxiety. Struggling with a massive loss after a sports game or a bad slot machine run will lead to suicidal thoughts. March Madness, the largest men’s collegiate basketball event of the year, otherwise known as the NCAA Tournament, brings about one of the highest suicide rates among gamblers than at any other time of year.

How Does Icarus Behavioral Health In Nevada Treat Gambling and Sports Betting?

At Icarus Behavioral Health in Nevada, we recognize that gambling addiction is more than just a lack of willpower or a lack of discipline. It’s a diagnosable, treatable condition that manipulates an individual’s behavioral and mental health.

Our programs are designed to help gambling addicts regain control of their lives through evidence-based and holistic treatment options. We also offer our clients a range of aftercare options, including referrals to specialists, resources for group meetings, and even halfway houses for long-term residential situations.

For more information about Icarus Behavioral in Nevada and the services we offer for gambling and betting addiction, contact a member of our admissions team today. All calls to our programs are strictly confidential, so please reach out for support now.