Gambling is the staking of something of value (money, property or possessions) on an event with an element of risk and a desire to win. It can take many forms from lottery tickets and betting on sports to sophisticated casino gambling. It is practiced worldwide and is often legalized by governments or otherwise available as a recreational activity. It can be a source of income, but can also increase debt and lead to bankruptcy. It can even be associated with criminal activities like blackmail and money laundering. It is an important source of entertainment and can be relaxing. It can also help socialization between people.
The social costs and benefits of gambling are complex, and it is difficult to determine how much impact any one person may have on the community as a whole. It is therefore important to look at the whole picture when analyzing gambling impacts. This includes evaluating the costs and benefits to the gambler, their significant others and the wider society.
Research into gambling has tended to focus on monetary impacts and how they may influence economic growth and development. This is due to the fact that monetary impacts are relatively easy to measure and quantify. However, studies on social costs and benefits of gambling have been few and far between. In order to develop a balanced evidence base on gambling, it is vital to address this gap in knowledge.
Those who suffer from problem gambling can experience serious harm, which can impact on all aspects of their lives. Their health can be affected, their relationships and performance at work can suffer, they can end up in serious debt and even become homeless. The negative effects of gambling can be felt by everyone close to the gambler, including family members, friends and colleagues. It is important for them to seek help if they are suffering from gambling problems.
Understanding of the adverse effects of gambling has undergone a considerable change in recent years. While in the past people who were addicted to gambling were viewed as morally deviant, they are now classified as having psychological disorders and treated accordingly. This change in understanding is similar to the shift in how alcoholism and drug abuse are treated.
The impacts of gambling are categorized into three classes: financial, labor and health and well-being. These impact on the gambler, their significant others and the general societal/community level. Impacts can be a combination of both personal and external, with the former referring to the gambler’s own internal costs and benefits, while the latter refers to external costs and benefits that are not directly related to gambling but which have indirect consequences for the gambler, such as increased health care costs or loss of productivity. These external costs and benefits can also be categorized into two groups: the invisible, individual cost/benefits and the visible, societal/community benefit/costs. This allows researchers and policy makers to compare the costs and benefits of gambling policies and identify which will have the least effect on society.
