Gambling is a popular activity that involves wagering something of value on the outcome of a random event, with the intent to win something else of value. It is an integral part of many cultures and societies, and contributes to the economic stability of some countries. It is estimated that the global gambling industry is worth approximately US$5 trillion, making it one of the largest industries in the world. Despite its many positive effects, there are also some negative impacts. Generally, studies of gambling have focused on monetary costs and benefits, which are easy to quantify. However, few have considered social impacts. Social impact is the cost that results from an action or behavior that affects people who are not directly involved in it. It encompasses the costs and benefits that are not directly measurable or quantifiable but have an overall impact on a person’s quality of life.
In addition to the physical and financial costs, there are also psychological, emotional, and social costs associated with gambling. Depending on the type of gambling and the individual, these costs can range from trivial to severe. In the most extreme cases, gambling can lead to compulsive behaviors and even suicide. This is why it is important to seek help if you have any problems with gambling.
Identifying gambling-related problems is challenging, since the effects of gambling are usually hidden from view. However, there are some key warning signs that you should look out for. These include:
Do you gamble secretly or lie to others about your gambling? Do you have a hard time stopping gambling when losing, or do you keep upping your bets in a desperate attempt to get back what you’ve lost? Do you feel compelled to gamble even when you’re sick or tired?
If you answer yes to any of these questions, it is likely that you are experiencing a problem with gambling. Fortunately, there are ways to stop. You can seek treatment from a mental health professional, or you can join a peer support group such as Gamblers Anonymous. This 12-step recovery program is based on Alcoholics Anonymous and can be very effective in helping you break your gambling habit.
The motivation to gamble is rooted in several factors including: the expectation of replicating an early big win, boredom susceptibility, impulsivity, the use of escape coping and stressful life experiences. In some cases, people who have underlying mood disorders such as depression may also be driven to gamble. The problem with this is that the gambling can make the symptoms worse and ultimately result in a vicious cycle of losses. This can lead to serious consequences such as bankruptcy and homelessness. Using a public health approach, the negative impacts of gambling can be assessed using disability weights (DW). These are similar to QALYs and can provide a more holistic perspective than current measures of monetary costs/benefits. These DWs could be used to identify the intangible costs of gambling.