Gambling is an activity where a person places something of value (like money or property) on the outcome of a random event, such as a sporting event, lottery, election, or business transaction. There are three main types of gambling: casino games, lotteries and speculative activities such as baccarat or roulette. Regardless of the type of gambling, there are significant costs and benefits associated with it. These impacts can be assessed at personal, interpersonal and community/societal levels.
Governments are typically responsible for regulating the operations of gambling businesses and providing services to gamblers who require treatment or assistance. They also need to allocate a portion of their resources towards gambling-related research and training, as well as funding for public awareness campaigns and prevention initiatives. These are the most visible costs borne by governments, but they can be dwarfed by invisible individual and societal/community level external costs of gambling. These include the cost of problem gambling and its effects on individuals, families and society.
The most common negative impact of gambling is financial. Problem gamblers often have trouble managing their finances, and may be in constant debt or on the verge of bankruptcy. This can affect the family’s ability to afford basic necessities, and it can lead to feelings of shame or desperation.
Gambling can also affect a person’s mental health, with those who suffer from depression or anxiety being at an increased risk of harmful gambling. They might gamble to relieve these feelings, or they may use it as a way of distracting themselves from uncomfortable emotions or situations. If you’re worried about your own or a loved one’s mental health, speak to your GP or visit the NHS website for help and advice.
There are some positive impacts of gambling, especially for older adults. Recreational gamblers have been found to have improved cognitive and physical functioning, as well as greater self-concept, compared to nongamblers. The socialising aspects of gambling can also be beneficial, and may be particularly important for people living alone.
If you’re a casual gambler, try to limit your losses by only using money that you can afford to lose and setting time and money limits for yourself. Avoid high-risk situations, such as using credit cards or carrying large amounts of cash with you, gambling while under the influence of alcohol or medication, and gambling to cope with difficult emotions. Instead, find healthier ways to relieve unpleasant feelings, such as exercising, spending time with friends, or taking up a hobby. You can also seek support from a peer group, such as Gamblers Anonymous. They follow a 12-step programme similar to Alcoholics Anonymous and can provide valuable guidance and support.