Gambling is an activity where people make bets on something that has a value. While most people gamble without problems, a small percentage of people develop gambling disorder, which has serious personal, social and financial impacts. The majority of people who gamble participate in sports betting, bingo, horse races and casinos. However, scratch tickets, online poker and DIY investing are also considered forms of gambling. For some individuals, gambling is a way to relax and have fun. It provides an escape from their everyday lives and a chance to be surrounded by different sights, sounds and emotions. Others use it to relieve boredom or stress, or as a means of socializing with friends. However, there are many other ways to relieve boredom and stress that don’t involve gambling. For example, exercise, spending time with friends who don’t gamble, or taking up a new hobby are healthier ways to do so.
The monetary benefits of gambling are obvious, but the social and other costs associated with it are less understood. Typically, these costs are underestimated because the effects of gambling are often invisible and indirect. However, these costs can add up and have a significant impact on society. The societal impact of gambling can be categorized into three levels: personal, interpersonal and community/society (see figure 1). Personal level impacts affect the gambler directly, while the interpersonal and societal/community levels involve those who are not gamblers. For instance, the impact of a gambler’s increased debt and financial strain can have an effect on their family members. In addition, escalating problems may lead to bankruptcy and homelessness in the community.
It is important to recognize the negative and positive social impacts of gambling because these are often overlooked in economic costing studies. The focus of most studies is on the monetary costs and benefits of gambling, which are easy to measure and analyze. In contrast, the social and psychological impacts of gambling are complex and intangible, making them difficult to measure. These impacts may also have a long-term effect on an individual, and can even pass between generations.
If you are concerned that a loved one’s gambling is causing harm, reach out for help. Talk with a trusted friend, a counselor, or a member of a support group. You can find a therapist who specializes in gambling addiction or recovery, or enroll in a program like Gamblers Anonymous. The key is to strengthen your support network, so that you can resist the temptation to gamble and find other ways to have fun and relax. In addition to finding a support network, try to spend time with family and friends who don’t gamble, or find other hobbies. Additionally, if you are financially supporting a problem gambler, you can set limits on how much money they can spend. You can also join a financial management class. These programs can teach you how to manage your money and avoid financial disasters. Finally, you can seek a sponsor, a former gambler who has been successful in their recovery.