In previous studies, social impacts of gambling have received minimal attention. While monetary costs and benefits have been studied, few have considered social costs, including the benefits to the individual and society. These costs are usually unrecognized and often overlooked. By contrast, the external impacts of gambling are largely monetary and include the benefits to the society and the individual. Both of these costs are considered social, and neither of them are directly related to individual well-being.
Gambling is defined as the act of staking something of value, often money or property, on an uncertain outcome. The primary intention is to win money or material goods. Whether or not the gambler wins or loses, gambling requires chance, consideration, and prize. The outcome of gambling is evident in a relatively short period of time. Legal gambling is conducted by gaming companies that offer gambling activities to the public. These companies may be regulated by gaming control boards.
While problem gamblers do not usually suffer financial hardships, it is important to reach out to family and friends who support them. They should try to find other ways to fill the time that they spend gambling. They should also avoid environments that may make them feel compelled to gamble. If you suspect that your child is suffering from gambling problem, do not hesitate to contact your child’s GP or psychologist. In addition, you should consider joining a peer support group, such as Gamblers Anonymous. The group’s 12-step program resembles Alcoholics Anonymous. It requires a sponsor, a former gambler who has struggled with the same problem. They will offer you guidance and support.