Gambling is a risky activity that requires a lot of consideration. However, it is a popular leisure activity in most countries. It is also a good way to socialize.
In addition, gambling is a good way to relieve stress. If you can’t control your urge to gamble, you should seek support. Also, if you are worried about gambling, it might be a good idea to postpone it.
Aside from a lot of positive benefits, gambling can cause harms as well. These can be financial, physical, and even psychological.
Although studies have measured some of the health effects of gambling, little has been written about the effects of gambling on a societal level. Most impact studies have focused on the financial or labor aspects of gambling.
The social impacts of gambling are much harder to quantify. Several studies have used disability weights to measure intangible social costs. Typically, these include the pain and suffering of a problem gambler, as well as the pain and suffering of others.
Often, these impacts are hard to quantify because they are unrecognized. Some of these invisible costs are eventually visible at the societal or community level.
The best way to measure the best possible impact of gambling is to do an economic cost-benefit analysis. This analysis measures changes in well-being in common units, such as families, communities, and businesses.
While the cost of illness approach has been used in alcohol and drug research, it may not be the most appropriate way to assess the effects of gambling.