The Economic Impact of Gambling

Gambling involves risking something of value (usually money) in the hope of gaining more, usually by winning a prize. It can take place in casinos, racetracks, gas stations and even church halls, as well as on the internet. It can be fun and exciting, but it is important to gamble responsibly. This means staying within your means, setting limits and avoiding gambling when you’re feeling down or stressed.

It is possible to get help if you are having trouble with gambling. Many organisations offer support, assistance and counselling. Counselling can help you understand why you are gambling and how it is affecting you and your family, and it can also be helpful in finding other ways to cope with the urge to gamble.

Some people gamble for social reasons, to meet others or simply because they enjoy thinking about what they would do if they won a jackpot. For others, it is a way to escape their problems. This type of escapism is often associated with pathological and problem gambling.

At the personal/interpersonal level, there are monetary costs and benefits that are mostly invisible and include general costs, costs related to problem gambling and long-term costs. At the society/community level, there are monetary benefits and costs that are more visible. They include general societal benefits/costs, costs/benefits for non-problematic gambling and social impacts that are often overlooked in economic impact studies [42]. These include reducing criminal activity, increasing tourism and helping people with mental health issues.