Pictures!!!
Is your gap 1/8" long, or wide? Where is the gap compared to laminations (ie, belly glass, lam, gap, lam, lam, back glass?) What is the style of bow and poundage? Does the gap go from one side of the bow to the other? Both ends of the riser, or just the top or bottom?
It's not good, but depending on your answers it might not be too bad.