While gambling contributes to the economy in countries that have legalized it, it is also a source of stress for gamblers. Many people find that they can become addicted to gambling and are unable to control their behavior. While this may not be the case for all gamblers, it is something that needs to be taken into account when researching gambling’s impact on society.
Gambling is an activity that involves placing a bet on an event – whether it is a football match or a scratchcard. This bet is matched to a ‘odds’ – the chances of winning – which are usually calculated as a ratio of one to another (e.g. 5/1 or 2/1). The odds are then compared to the total amount of money that could be won.
Many studies on gambling have ignored social impacts, choosing instead to measure only economic costs and benefits – which are quantifiable. However, this is a very limited approach that fails to recognise the fact that harms caused by gambling are societal in nature and affect more than just the individual gambler.
For some, gambling is a form of entertainment that can provide a rush when they win or lose. It is common for individuals in lower socioeconomic groups to use gambling as a way to escape from the pressures of everyday life and focus on a different reality for a short time.
Problematic gambling can lead to the depletion of a person’s financial resources, which can leave them in a precarious financial position and unable to afford essential living expenses. Taking the decision to stop gambling can allow a person to rebuild their financial health and regain control of their finances. Tools that can help people stop gambling include universal pre-commitment, self-exclusion and financial coaching.
