Gambling is an activity involving risking something of value on an uncertain event with the intention of realizing a profit. It has existed in virtually every society since prerecorded history and it is often incorporated into local customs and rites of passage. There are a number of problems associated with gambling including financial, psychological and social issues. In addition, people who gamble may not be open about their gambling activities and might lie to friends and family or try to hide their losses from them. Those who are addicted to gambling might also be violent towards their spouses and children as well as others. Moreover, it is difficult for those who rely on gambling to achieve financial stability as they might lose their job or might even become homeless due to the heavy debts that they incur.

Despite all the negative effects of gambling, there are also some positive ones like socialization and skill improvement. Many individuals enjoy using their share of cash to gamble because it helps them relax and feel happy. Gambling also involves trying to implement different strategies in a game of chance, which is great for mental development. Moreover, games such as blackjack and poker allow multiple players to interact and develop teamwork skills in a friendly environment.

The impact of gambling can be structuralized into costs and benefits, with the latter mainly being non-monetary. These non-monetary impacts are the invisible costs at the personal and interpersonal levels, which affect gamblers themselves. These are then translated into visible costs at the societal/community level, which include general costs/benefits, the cost of problem gambling and the long term cost/benefits.