Gambling is an activity where individuals risk something of value (money, assets) on a random event in the hope of winning. It is a popular pastime with many positive social and economic impacts, particularly when the money spent gambling is partly channeled into public services. However, there are also negative social and psychological consequences that can affect gamblers’ significant others and society.
People gamble for a variety of reasons, such as for entertainment purposes, to get that adrenaline rush or high and for financial gain. They may also do it to relieve unpleasant feelings such as boredom or depression, or to try to escape from their problems. Many people believe that they are able to control their gambling but for some, this is not the case. It is important to remember that gambling involves a lot of risks and a gambler’s chances of winning are very slim.
As a result, gambling can become addictive. People who are addicted to gambling can have serious health and social problems that can lead to debt, relationship difficulties, work performance issues, poor mental and physical health, and even homelessness. It can have a huge impact on their family, friends, employers and the wider community.
The negative effects of gambling can be assessed using a Health Related Quality of Life model, with different weights known as Disability Weights applied to the individual’s quality of life. This can help in comparing the costs and benefits of different gambling policies.