Gambling involves wagering something of value on a random event in the hope of winning another item of value. It is one of the most popular leisure activities worldwide. People can place bets on sports events, horse races, casino games and lottery draws. While many people enjoy gambling as a form of entertainment, for others, it becomes an obsession. The problem with gambling is that it can have serious social and financial consequences. It can lead to debt, family distress and even bankruptcy. It also affects the communities in which gamblers live and work.
A person with a gambling disorder often feels compelled to secretively gamble or lie about the extent of their involvement in the activity. They may return to the gambling venue despite losing money and may up their bets in a bid to win lost money back (chasing losses). People with this problem can end up jeopardizing a job, relationship or educational or career opportunity due to their habit. They may rely on others for money to pay off gambling debts and can become depressed and anxious.
Gambling has external impacts that extend beyond the gamblers themselves. These impacts are categorized into three classes: financial, labor and health and well-being. These effects can be observed at the personal, interpersonal and community/society levels. It is important to note that social costs are non-monetary and can be difficult to quantify. This is why they are often ignored in calculations.
