Gambling is the wagering of something of value (money or other assets) on a random event with an expectation of winning a prize. It includes a number of activities including casino, lottery and sports gambling. It can provide enjoyment and excitement, but also can lead to serious financial problems and social harms.
The benefits and costs associated with gambling are often underemphasized or overlooked in economic development analyses. The focus of these analyses tends to be on the potential economic benefits, such as jobs and revenue, of a new gambling facility. Critics of these studies argue that examining only the economic benefits of gambling fails to take into account the costs associated with the negative impacts that gambling can have on society.
These impacts can be observed at the personal, interpersonal and community/society levels. The personal and interpersonal level effects include invisible, non-monetary impacts such as stress, family difficulties and problems at work. Community/society level impacts include monetary and general costs/benefits, costs/benefits related to problem gambling and long-term costs.
In addition, many gamblers are secretive about their gambling habits. This may be because they feel that others will not understand their actions, or they believe that they will surprise friends and family with a big win. Moreover, some people may turn to gambling as a way to relieve unpleasant feelings such as loneliness or boredom, or after a bad day at work or following an argument with their spouse. It is important to recognize that there are healthier ways to relieve unpleasant feelings and cope with boredom, such as exercising, spending time with friends who do not gamble or practicing relaxation techniques.
