Gambling is an activity whereby people stake something of value on a game of chance, often money, in the hope of winning a prize. It is a major international business and a widespread recreational activity. It can be found in casinos, racetracks, and online. Some people find gambling to be a fun and exciting way of spending their free time, while others gamble as a means of relief from stress and anxiety, or as a way to escape from boredom. However, some individuals who engage in gambling experience negative personal, social, and financial impacts that can affect their quality of life.
Most studies on gambling focus on its harmful effects, such as increased demand for public services and increased risk of problem gambling. Less attention is given to positive impacts of gambling, which are also important. Positive impacts of gambling include entertainment value, increased leisure activities, and the ability to make informed decisions. Some research even suggests that gambling can increase mental health functioning in seniors.
While most individuals who participate in gambling do so for fun and enjoyment, a small group of people become heavily involved in terms of time invested and money wagered and continue to gamble despite substantial and negative personal, social, family, and financial consequences. A growing number of people are struggling with problematic gambling, and the consequences of this behavior can be devastating to a person’s life. Some of these problems can be overcome with counseling and treatment, but many do not recover.
Gambling has been around since prerecorded history and has become a part of almost every culture. It is considered to be a social activity and it has been incorporated into local customs and rites of passage. Some cultures even include it in their mythology and traditions.
The most common form of gambling is betting on sporting events and games of chance, such as horse races or scratchcards. In other forms, players wager things of value such as marbles, collectible game pieces (such as pogs and Magic: The Gathering), or other items that have a monetary value. The most common form of gambling is in casinos and racetracks, but it also takes place at other venues and on the internet.
Historically, most research on gambling has focused on economic costs and benefits, which are easily quantifiable. However, little is known about the impact of gambling on social dimensions, which are more difficult to quantify. This article reviews complementing and contrasting methodologies to offer a conceptual model for assessing the impact of gambling on society. The approach proposed here defines social impacts as aggregations of societal real wealth that harm some members of society and benefit others. In order to be classified as a social impact, these costs or benefits must aggregate at the community level, be nonmonetary in nature, and reflect a change in someone’s well-being. This article applies the definition of social impacts to gambling and identifies gaps in current knowledge about the effects of gambling on society.