Social Impacts of Gambling

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Gambling

Approximately 1 billion people gamble globally each year. The vast majority of those who gamble do not have a gambling addiction or mental illness. Those who do struggle with gambling addiction are of every race, religion, and socioeconomic background. Problem gamblers can be found in small towns and big cities. Gambling involves risking money or possessions on a random event with the intention of winning something else of value. The event may be an outcome of a game of chance, such as dice, a lottery, a horse or greyhound race, or even politics. Alternatively, the event may be an investment, such as buying stocks or property, or a form of speculation such as betting on a football game or election.

Gambling is a type of entertainment that can be enjoyed by family and friends, especially when the gambling venue is a safe and controlled environment. It is also a popular activity for those who are looking to relieve stress or escape from everyday problems or stresses.

While many studies focus on the financial impacts of gambling, there are additional social costs and benefits that are less easily quantifiable. These include labor and health/well-being effects, as well as community/society level impacts. However, defining what is considered a social impact and how it should be measured has proven difficult. Traditionally, studies have largely ignored these impacts, choosing to measure only the more readily quantifiable economic costs and benefits. It is important to consider all of these impacts when examining the effects of gambling.