Gambling involves risking something of value, such as money or possessions, in a contest of chance or skill. It may involve card games, dice, roulette or betting on horse races or football accumulators. It can also be more abstract, such as speculating on the outcome of business investments or politics. People gamble for many reasons, from relaxation and comfort to a desire for profit. However, gambling has serious consequences for the health and well-being of its participants.
Problematic gambling has been linked to increased rates of depression, alcohol and drug abuse, domestic violence and suicide. The effects of gambling can also extend to the family and the workplace. While many people find that gambling provides an escape from reality, the relief is only short term and often comes at a high price.
While research into gambling is not extensive, a number of factors appear to contribute to its addictiveness. A key factor appears to be the reward pathway in the brain, which is stimulated by the prospect of a win and can keep a person engaged in a game even when they are losing. This can lead to compulsive gambling behaviour and a desire to “win back” losses.
There are a number of ways to deal with gambling addiction. Support from friends and family is an important part of recovery, as are therapy and self help groups such as Gamblers Anonymous. Changing one’s habits, setting boundaries and taking control of finances are also recommended. It is also helpful to find other activities that provide entertainment and a sense of achievement, such as exercise or hobbies. It is important to avoid gambling when feeling depressed or upset, and never attempt to make up for lost money by chasing your losses.
Most studies of gambling have focused on the monetary benefits and costs, which are easy to measure. There is a need to broaden the scope of research into the social impacts of gambling. A common methodology is cost-benefit analysis, but this is only partially effective if it ignores non-monetary costs and benefits. Using the definition of social impacts proposed by Williams and others, it is possible to calculate a broader range of costs and benefits.
A broader approach can include measuring the cost-benefits of gambling from a public health perspective. This can be done by combining various methods, such as the use of health-related quality of life weights (similar to those used in tobacco and alcohol research) with a monetary valuation of intangible harms and benefits. This can produce a more comprehensive and accurate picture of the costs and benefits associated with gambling. This can inform policy decisions and improve the design of future interventions. A holistic evaluation of gambling would also include examining the effects on society as a whole, such as crime and health outcomes. It would also consider the wider economic impact of gambling, including taxes and tourism. It could include a broader spectrum of issues, including labour market implications and the impact on local businesses.