Action Problem Gambler
Many
"action" problem gamblers can be
characterized as highly competitive,
domineering, controlling,
manipulative and egotistical. They
see themselves as friendly,
sociable, gregarious and generous.
They are energetic, assertive,
persuasive and confident. In spite
of all this, they usually have low
self esteem. Historically they may
have started gambling at an early
age, often in their teens, by
placing small bets on sporting
events or playing cards with friends
or relatives. They progress through
the
four phases of the disorder over
a ten to thirty year time span.
Action
problem gamblers typically gamble
primarily at "skill" games such as
poker or other card games; craps or
other dice games; horse and dog
racing and sports betting. Both
legal and illegal sports betting is
dominated by these gamblers. They
gamble to beat other individuals or
the "house" and often believe they
can develop a system to achieve this
goal. During the desperation phase
of the disease, many action gamblers
often begin to gamble specifically
for escape, medicating the pain they
are feeling from the destruction
created by their gambling with the
narcotic-like effect of slot or,
more likely, video poker machines.
Adapted from material written by Don
Hulen, AZCCG.
Escape Problem Gambler
Escape
problem gamblers typically play
games that do not require high
levels of skills or knowledge such
as handicapping. They tend to choose
games such as slot machines, video
poker, cherry masters, bingo, keno,
pull tabs, etc. The escape problem
gambler may go into a "trance like"
state and spend extensive amounts of
time "lost" in their gambling.
Most
escape problem gamblers have been
nurturing, caring responsible people
for most of their lives. Most are
not egotistical, have no indications
of narcissism and are not out-going.
They appear to be "normal" and have
an almost exact opposite character
profile than that of the action
problem gambler.
During
their lives, various psychological
traumas have occurred. These
individuals frequently suppress
those negative feelings and do not
deal with them. As time goes by and
the traumas increase, a single
traumatic event may take place which
causes situational or clinical
depression. Friends and relatives
of the person become aware of the
depression of the person.
After
the predisposing issues come to the
surface, depression is prevalent and
the individual will often do what
most do, attempt to self-medicate or
escape from the trauma (make
themselves feel better).
These
individuals are prone to use drugs,
food, sex, alcohol or gambling as a
way to self-medicate.
Most
escape gamblers begin by visiting a
casino with friends or family once
or twice as a social event, an
opportunity to take a break from
their problems and "have some fun".
In other words, they gamble for
recreation. However a few may
quickly step over the line into
escape problem gambling. They
rapidly fly through what is often
referred to as the "winning" phase.
However, for escape problem gamblers
who gamble at games of luck, no
winning phase exists. It is more
like an Introductory Phase. On
occasion there are winning episodes,
but not
phases. They may or may not
have a big monetary win. For them,
"winning" may have to do more with
the empowerment that comes from
entering a world which is free from
outside controlling factors which
provides a narcotic-like relief or
escape from their worries. They are
into phase two, the chasing stage,
almost immediately and reach the
third phase of desperation and
fourth phase, hopelessness, within
two to three years. They often seek
professional counseling prior to
attending their first self help
meeting.
Adapted from material written by Don
Hulen, AZCCG.
Internet Problem Gambler
Internet
gambling is the placing, receipt, or
other transmission of a bet or
wager which involves the use of the
Internet. This type of gambling is
available 24-hours a day. The
internet problem gambler can be more
capable of concealing harmful
activity from friends and loved
ones.
Stock Market Problem Gambler
Stock
market problem gambling is impulsive
day trading and "playing" the market
that results in negative financial
and emotional consequences to the
gambler and their loved ones.
Financial Markets Problem - Gambling
Questionnaire
Some investors
may be at risk for problem gambling in the
financial markets:
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When people
gamble excessively, and their behavior
negatively affects other areas of their
lives, gambling becomes a problem.
Problem gambling may occur in the
traditional recreational forms of
gambling, such as sports betting,
casinos, or the lottery. It can also be
a problem in any financial transaction,
including the financial markets, when
money is risked in an attempt to gain
more money.
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When does
investing become problem gambling? A
self-scoring quiz is offered below to
alert investors to the potential for
problem gambling in the markets along
with suggestions for where to go for
help.
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All
investments include risk of some kind.
Investors should always know the risk
that they are taking and choose
investments to match their risk
tolerance. The problem gambler can find
gambling opportunities in all market
areas, including simple stock purchases.
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Most
investors clarify specific long-term
goals, such as college tuition for their
children, or economic security in
retirement and choose investment
products that match their goals.
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A small
percentage of "investors" are risking
large sums of money in market
transactions. Their goal is to make a
lot of money quickly and to experience
the excitement of the action. These
gamblers "play" the markets as they
would play casino games.
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Some problem
gamblers in the markets have never
gambled for recreation, while others
have gambled problematically at some
time in one or more recreational forms
of gambling.
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People who
have gambling problems are seeking to
experience the same reactions in both
the markets and recreational gambling.
Their behaviors meet the diagnostic
criteria for pathological gambling.
Pathological gambling is also referred
to as compulsive or addictive gambling.
It is a clinically defined mental
disorder characterized by obsession with
gambling and out of control gambling
resulting in serious negative
consequences in most areas of
functioning.
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If you think
that you or someone you care about may
have a problem with gambling in the
financial markets, take this
self-scoring quiz to assess the
behavior. The questions identify the
major characteristics of compulsive
gambling as they apply to the markets. |
Scoring Key
0 No gambling
problem
1 or 2 Possible future problem
3 or 4 Mild current problem
5 or 6 Moderate current problem
7 or more Severe current problem
You should seek
help if you are concerned about your answers
to these questions or you believe the
questions apply to someone you care about.
Pathological gambling is a treatable mental
disorder which can only be diagnosed by a
qualified mental health or addiction
professional.
Note: All
questions refer to either past or present
thinking or behavior.
1. I have been
preoccupied with seeking daily information
about the status of my investments or trades
or have been preoccupied with thoughts of
past and future investments or trades.
______ Yes ______ No
2. A major
reason I have invested or traded is to
change an unhappy mood, for example, escape
worries, pressures, anxiety, depression,
etc.
______ Yes ______ No
3. I have
experienced extreme highs when I win and
extreme lows when I lose in the markets.
______ Yes ______ No
4. I have felt
uncomfortable when any cash accumulated in
my brokerage account and have needed to
quickly find a way to keep it in action.
______ Yes ______ No
5. I have been
restless or irritable when unable to be
active in the markets, for example, when
short of money, away on vacation, trying to
cut back on trades.
______ Yes ______ No
6. I have needed
to increase the amount invested or traded to
maintain the high or excitement of being in
action.
______ Yes ______ No
7. My
investments or trades have become
increasingly speculative or risky over time.
______ Yes ______ No
8. I have had
more money at risk in the markets than I
could afford to lose.
______ Yes ______ No
9. I have often
engaged in high volume investing or trading,
for example, to outguess the direction of
the market, etc.
______ Yes ______ No
10. My
investments or trades have been highly
leveraged.
______ Yes ______ No
11. I have not
opened brokerage statements to avoid having
to think about my losses.
______ Yes ______ No
12. I have
borrowed money from family, friends, credit
cards or other sources to invest or trade.
______ Yes ______ No
13. I have
borrowed money to invest or trade and have
not paid it back.
______ Yes ______ No
14. I have had
to have someone else provide money to
relieve a crisis caused by my investing or
trading.
______ Yes ______ No
15. I have lied
to people in order to hide that I was
investing or trading or to hide how much
money was involved.
______ Yes ______ No
16. When losses
have piled up, I continued the same
investments and trades or increased the
amount, in hopes my strategy would work, or
my luck would change and I would regain the
losses.
______ Yes ______ No
17. I have
wanted to stop investing or trading but did
not think I could or I have been
unsuccessful when I have tried to control,
cut back or stop investing or trading.
______ Yes ______ No
18. I have
risked losing or lost important work,
family, or other commitments due to the
amount of time and money taken up by my
trading or investing.
______ Yes ______ No
19. I have
committed an illegal act to get money to
continue to invest or trade or to pay back a
loan for my investment activity.
______ Yes ______ No
20. I have
wondered whether I was gambling excessively
in the markets.
______ Yes ______ No
Adapted from a
pamphlet produced by the Connecticut Council
on Problem Gambling.
