Gambling is an activity where individuals bet something of value, usually money, on a game, contest or uncertain event with the hope of winning. It is a common leisure activity and in many countries around the world, gambling is legal and offers opportunities for people of all ages to gamble. However, gambling is not without harm and can cause a wide variety of negative impacts on the health and well being of those who participate in it.
The most obvious harms associated with gambling are financial: a person may spend more than they can afford to lose, leading to debt and bankruptcy. Problem gambling can also disrupt family relationships, increase stress and strain, lead to addiction and even mental illness. These harmful effects can be long lasting and have a significant impact on the overall quality of life.
A disproportionate number of the most serious consequences of gambling, such as mental distress and depression, occur in those with low incomes. This can be caused by a combination of factors, including poor financial management skills and high levels of stress and anxiety, which can trigger gambling behavior. Additionally, people who have low incomes are often exposed to more gambling advertisements and promotions, which can encourage them to gamble.
Moreover, gambling has been linked to social isolation and the loss of community cohesion. This can be the result of a lack of public spaces where people from all walks of life can gather and interact, as well as a growing use of technology that can substitute for face-to-face interactions.
While research on gambling impacts can be approached from a range of perspectives, the most common approach is to examine costs from a cost-benefit analysis (CBA) perspective, which measures changes in well-being in monetary terms. This can be problematic, as it neglects the benefits of gambling. Additionally, the research fails to take into account non-monetary harms such as social stigma, loss of self-respect, and emotional distress.
In addition to monetary costs, there are other important social impacts that must be considered when assessing gambling. These include the costs of lost productivity, work efficiency and performance and the impact of gambling on families, friends and neighbours. Moreover, social harms can also be caused by the way a gambler is treated in their interactions with other people.
Gambling impacts can be classified into three classes: financial, labor and health and well-being. Financial impacts affect the personal and interpersonal level, where they induce effects on a gambler’s own life, while external impacts influence the society/community level and concern other people. These can be in the form of direct monetary costs, indirect monetary costs and costs relating to problem gambling. To reduce gambling-related harms, it is essential to implement preventive measures, such as universal pre-commitment systems that require gamblers to set binding limits on time and money spent, and self-exclusion from gambling providers. These should be introduced alongside a reduction in advertising and promotion of gambling products.
