Whether it’s buying lottery tickets, placing bets on horses or sports events, or playing the pokies in a casino, gambling is a popular pastime for many people. While it can be fun and offer a rush of adrenaline, it is not without risk. The biggest risk is losing more money than you planned or even worse, developing a gambling addiction that can lead to financial ruin and other negative impacts on your life. It can also cause problems for your family and friends, causing strains on relationships and creating resentment. If you find that you are gambling more than you can afford, it is important to seek help and set limits on your spending.
While it may seem obvious that gambling has positive and negative impacts, it’s difficult to study them. There are several reasons why longitudinal studies of gambling are so rare. These include a lack of funding to commit to a multiyear project; the challenge of maintaining research team continuity over such a long time period; a danger that repeated testing could influence gambling behavior and/or behavioral reports; and knowledge that longitudinal data confound aging and period effects (e.g., does a person’s increased interest in gambling reflect the end of youth and/or the opening of a new casino in their area).
The social impact of gambling can be categorized into three classes: financial, labor, and health and well-being. Financial impacts include changes in personal financial situations, such as financial gains and losses; job gains and losses; and infrastructure costs or value changes. Labor impacts include worker productivity, absenteeism, and health-related issues. Health and well-being impacts encompass psychological, physical, and social health and well-being.
Gambling has been linked to the brain’s reward system, which affects how you process rewards and control impulses. It can also influence your personality, including how you make decisions and weigh risk. Some people are genetically predisposed to thrill-seeking behaviours and impulsivity, making them more likely to gamble. Others are more likely to engage in problem gambling because of cultural factors, such as a belief that gambling is a normal pastime or that it can provide benefits.
Understanding the pros and cons of gambling is essential to avoid it becoming a problem for you or your family. If you’re unsure how to handle a loved one’s gambling, reach out to a professional therapist for support. We can match you with a licensed, vetted therapist in as little as 48 hours. It takes tremendous strength and courage to admit you have a gambling problem, especially when it has cost you money or strained or broken relationships. However, it is possible to reclaim your life and rebuild these relationships. The first step is acknowledging you have a problem, which can be scary but is worth it. It’s a journey that’s easier with support.