Gambling involves placing a value on an event that has some element of randomness or chance. This can be a game of chance such as dice, poker, roulette or lotteries, a wager such as horse or greyhound racing, or a bet on a sporting event or election. The goal is to win something of value, which may include money, property or possessions. Gambling is a popular activity worldwide and has many positive aspects, but it can also have negative impacts on people’s lives. It is important to know the risks and benefits of gambling so you can make informed decisions about your gambling habits.
Gamblers are motivated by a variety of things, from the prospect of winning money to the social interactions in gambling venues. Some of these motives are directly related to the brain’s reward system. Others are less direct, such as the desire to escape from problems or the dream of achieving a jackpot win.
Depending on the individual, negative effects of gambling can range from mild to severe. People with an addiction to gambling can experience a wide range of physical, emotional and psychological problems, from mood swings to anxiety and depression. These problems can have a devastating effect on their personal and professional lives. It is essential to seek help from a therapist or support group if you are struggling with a gambling problem.
There are many ways to address your gambling problems and recover from addiction, including family therapy, cognitive behavioural therapy and group counselling. You can also try self-help methods, such as finding other ways to deal with unpleasant emotions or relieve boredom, taking up exercise, spending time with friends who don’t gamble and trying relaxation techniques. Alternatively, you can sign up to a peer support programme like Gamblers Anonymous, which follows a 12-step model similar to Alcoholics Anonymous.
Many studies that examine the economic impacts of gambling focus on gross effects, which ignore indirect and intangible effects. These studies estimate the dollar value of benefits such as job creation and taxes paid, and neglect the cost side of the equation (Fahrenkopf & Meyer-Arendt 1995). They do not attempt to identify intangible costs or benefits, nor do they account for expenditure substitution effects.
Some studies use a public health approach, which recognizes both negative and positive gambling impacts. For example, the quality of life burden of a gambling disorder can be assessed using disability weights. This technique can help identify intangible harms and benefits to the individual and his/her family, as well as the wider community. This is a more holistic and accurate approach to the study of gambling’s effects than an economic analysis that considers only the monetary cost side of the equation.
