The act of betting something of value on an uncertain event with the intention to gain a prize. It varies from the simple purchase of lottery tickets by people with very little money, to sophisticated casino gambling undertaken by the wealthy for entertainment or profit. It may be a legal or illegal activity.
Gambling can be an enjoyable pastime, but it is also a common source of social problems. It can cause stress in relationships, contribute to depression and even increase crime rates. In addition, it can cause financial difficulties, debt and bankruptcy, which can affect the entire family and community.
Unlike economic costs, which are quantifiable and therefore easy to include in cost-benefit analyses, the impact of gambling on society is much harder to measure. This is because it includes a range of negative social impacts that cannot be measured in terms of monetary costs (for example, increased stress levels in families and communities or higher prison costs associated with problem gamblers).
In the past, studies have generally ignored these social impacts, focusing instead on measuring only the economic benefits and costs of gambling that are relatively easily quantifiable. In a public health approach, this presents a biased view of the issue and underestimates the true cost of gambling.