Gambling is a form of risk-taking, whereby an individual wagers something of value on a random event with the hope of winning something else. In most cases, this is money, but it can also be possessions, experiences, or even a car. While some people gamble for fun and excitement, others become addicted to it and find it difficult to stop. The reasons why people gamble vary from person to person, but they can include social interaction, entertainment, and charitable support. Those who are able to gamble responsibly can enjoy the many benefits it offers.
Humans are innately motivated to feel in control, which can lead them to seek out ways of achieving this goal. One common way to do this is through gambling, where people can try and ‘predict’ the outcome of a game by throwing dice in a certain manner, sitting in a specific place or wearing a lucky item of clothing. Although this can make a person feel more in control, it is important to remember that no method can guarantee a win.
The underlying causes of problematic gambling are complex. Some factors include a predisposition towards gambling, genetics, and other behavioural traits. However, the biggest contributing factor is often a lack of self-control. Those who struggle with pathological gambling often have an inability to stop, regardless of their financial situation. This can cause them to bet large amounts, lose money and then chase their losses, resulting in further debt. The addiction can also damage personal relationships, leading to strains in friendships and marriages. In addition, it can lead to a loss of employment and even legal issues.
A major challenge in gambling research is measuring the full range of costs and benefits. This is because most of the impacts are non-monetary and difficult to quantify. Therefore, the majority of studies focus only on economic impacts, which are easy to measure. However, these do not capture the full range of impacts and can mask negative effects. Longitudinal research can provide a more complete picture, but this is challenging to conduct because of the need for large funding and sample sizes over an extended period of time. In addition, longitudinal studies can be subject to aging and period effects, which may influence the results.
Another problem with studying the impacts of gambling is that there is no common methodology for calculating them. For example, studies tend to use an economic cost-benefit analysis (CBA) approach, which only measures the changes in monetary value, rather than the harms and benefits in their entirety. The concept of social impact, as explicated by Walker and Williams [32], should be considered when analyzing the impact of gambling, and this is an area that warrants further research. In particular, it is important to consider the invisible personal and interpersonal impacts that are often ignored in calculations of gambling’s social costs and benefits.