Gambling impacts many people, at the personal, interpersonal, and community levels. In addition to the gambler, the gambling person’s friends, family, and work colleagues are affected. Ultimately, gambling can cause problems for the person who gambles, including homelessness, bankruptcy, and other problems. This article will explore the negative effects of gambling. It will also show the costs and impact of this habit, and offer ways to avoid it. The following are some of the common side effects of gambling.
Socially acceptable
The boundaries of what is socially acceptable are constantly in flux, contested in local sociality, official representations, and state discourse. We can’t ignore these complex dynamics and their intersections to understand the changing nature of gambling. The hotshot gambler, for example, takes risks beyond the social norms of the average person and believes that he is a god. Oftentimes, this gambler wins, and his exploits are celebrated. But what happens when that gamble doesn’t go as planned? In the case of Nick Leeson, who was a highly successful futures trader with Baring’s Bank in Singapore, his gambling addiction led to his collapse. His debts were greater than PS827 million, a staggering figure for a village.
Risky
While the benefits of online gambling are plentiful, the potential harm associated with problem gambling is not. Several factors are associated with increased risky gambling, but there is no single cause that can be blamed for a person’s impulsive decisions. The resulting damage to the individual, their families, and their community are numerous. In fact, the study’s authors attribute much of the harm associated with risky gambling to the impulsiveness and addictive behavior of young people.
Cost
In a COI study, costs related to gambling are estimated by identifying three types: direct costs, intangible costs, and societal costs. These costs vary in size and valuation, but all three types are largely similar in magnitude. Direct costs correspond to all medical resources used to treat gambling problems. Non-medical costs are those that result in the societal expenses associated with gambling. They are valued according to market prices. This means that gambling is associated with higher costs than previously thought.
Impacts
Despite the numerous positive impacts of gambling, it has not received adequate attention in social science. Most studies focused on problem gambling, but other negative impacts have been overlooked. These consequences of gambling affect not only the gambler, but also the wider community. Methodological shortcomings have hampered the assessment of these impacts. This article describes some of the key issues with gambling impact studies. We will also discuss some of the challenges of conducting impact studies. Here are some of the common challenges.
Research
There is a growing body of research in the area of gambling. The journal Analysis of Gambling Behavior (AGB) publishes a wide range of gambling-related articles, accounting for the bulk of the field’s publications over the last 20 years. Other publication venues are beginning to catch up with AGB’s prominence and are expected to increase their publication rates in the future. This article provides a brief overview of the current state of gambling research.