The Impact of Gambling
Gambling is an activity where people make bets or wagers on a chance event with the aim of winning money. It can be done online and in land-based casinos, and can include lottery games, sports betting and casino games such as blackjack. While many people consider gambling fun and enjoyable, some find it a serious addiction. Problem gambling can affect a person’s health, relationships, job and performance, and leave them in debt or even homeless. Some people are at higher risk of developing a gambling problem than others. These include young people, those who have low incomes and those with a family history of gambling problems.
The impact of gambling is felt on the personal, interpersonal and societal/community levels (Fig. 1). The personal impacts are the invisible individual costs that are difficult to quantify and are not seen by gamblers themselves, such as loss of self-esteem and a negative impact on family and friends. Interpersonal impacts include the effect that gambling has on a gambler’s close relationship with friends and family members. It also includes the effects that gambling has on a gambler’s work performance, absenteeism and poor productivity at work. At the societal level, external impacts are monetary and include gambling revenues, impacts on tourism and other industries, infrastructure cost or value changes and social returns.
Some people become addicted to gambling for non-monetary reasons, such as seeking socialization with friends or wanting to escape from everyday life. Moreover, the media often portrays gambling as exciting, glamorous and fashionable, thus appealing to some. In addition, gambling can be an addictive way to relieve boredom or unpleasant feelings such as anger or sadness. It can also be used to try to get back money lost through chasing losses, which is known as the “gambler’s fallacy.”
A person may start gambling because they enjoy thinking about what they would do with a large sum of money, or simply because they like the rush or ‘high’ it gives them. It is important to note, however, that the majority of people who gamble do not win, and the house always has the edge over the gamblers. For example, in a game of blackjack, the odds of hitting a 21 are about 1 percent, but the house edge is about 11 percent.
Besides the negative impacts, gambling has some positive side effects that are non-monetary in nature. These include socialization, relaxation and a sense of achievement. In addition, the practice of gambling can help in developing analytical skills. It can also be used to learn how to count and budget money.
If you have a gambling addiction, it is important to strengthen your support network and seek professional help. A good place to start is by reaching out to friends and family who do not gamble, and joining a peer support group such as Gamblers Anonymous, which is based on the 12-step recovery model. You can also seek out a counselor who is trained to treat gambling addictions.