Gambling involves risking something of value on a random event where instances of strategy are discounted. It is a major international commercial activity with many forms, including lotteries, casino games (e.g., blackjack and slots), riverboat casinos, bingo, pari-mutuel betting, offtrack horse racing, and sports gambling. The core of gambling lies in the element of chance, which is the unpredictable nature of a game’s outcome due to random events such as the roll of dice or the spin of a roulette wheel.
There are both positive and negative effects associated with gambling, which can be seen at the individual, interpersonal, and community/society levels. The negative impacts tend to be monetary, whereas the positive ones usually involve non-monetary aspects of a person’s life. These are usually hard to quantify, but are important for understanding the effects of gambling.
Economic benefits and costs associated with gambling are related to the overall economy, and can be measured in terms of money spent, jobs created, taxes paid, and other measures. Intangible or ineffable benefits and costs, such as environmental or social impacts, are typically omitted from these analyses. However, substantial progress has been made in making these invisible costs and benefits tangible. For example, if construction of a casino destroys a wetland, federal law may require the company to build a wetland somewhere else in compensation.
Negative effects can include an increased risk of addiction, a decrease in employment opportunities, and other negative societal consequences. However, positive effects can also be observed, such as the escapism and entertainment offered by casinos, which can provide a break from everyday stressors.
Moreover, gambling has been shown to produce psychological and cognitive benefits in some individuals. For example, the thrill of winning can trigger the brain to release dopamine, a feel-good neurotransmitter. However, some people can become addicted to this feeling and continue to gamble even when they’re losing. Ultimately, only the individual can decide whether or not they want to stop gambling.
Gambling research has largely focused on the costs of gambling, but it would be beneficial to consider all aspects of this activity. For example, focusing on the negative impacts of pathological gambling without considering the positive impacts of recreational and other types of gambling can misguide policymakers in their efforts to regulate the industry.
Identifying the positive and negative aspects of gambling is essential for developing effective regulations that help reduce its risks, maintain fairness, and prevent exploitation. This article provides a structure for locating relevant studies on the subject. In addition, the authors call for an expansion of current research by examining the effects of all gambling activities and by considering the implications for a public health approach to this topic. In particular, consideration should be given to the benefits of gambling for gamblers and their significant others, as well as the social and societal costs of concentrating solely on problematic gambling. Health-related quality of life (HRQL) weights, known as disability weights, could be used to estimate these intangible social costs.
