The Economic Impact of Gambling


Gambling involves risking something of value, usually money, in the hope of winning more than was originally spent. Some forms of gambling have been legalized and regulated. Other forms have not. In either case, people should be aware of the risks associated with gambling before participating in it.

In addition to financial harm, gambling has been shown to have many intangible costs. These include social service, criminal justice, and productivity costs. These intangible costs are often omitted from economic impact studies because they are difficult to measure and quantify in dollar terms. However, progress is being made toward making these effects tangible. For example, construction of a casino may destroy an important wetland. Current federal law requires that this wetland be expanded or restored elsewhere in the vicinity as compensation.

While some people can gamble casually without becoming addicted, others find they cannot control their urges to gamble and find themselves gambling at all times of the day and night, often while on the job. This is called compulsive gambling or pathological gambling. This type of gambling can interfere with work, family, and other life activities, and cause significant emotional problems.

There is a growing understanding of the complex causes of gambling addiction. Research has shown that the root cause is not a single factor, but rather a combination of factors that lead to compulsive gambling. Some of these factors are genetic, some are environmental, and some are psychological. There is also a growing recognition of the importance of addressing underlying mental health issues such as depression and anxiety, which can be made worse by harmful gambling behavior.

Admitting you have a problem is the first step to recovery from gambling. This can be done in a variety of ways, including talking to a counselor, therapist, or support group. It is also helpful to reduce financial risk factors, such as limiting credit card use and not carrying large amounts of cash in your wallet. You should also avoid using gambling as a way to socialize or escape from daily life.

Once you have a firm commitment to stop gambling, the next step is redefining your goals and setting new priorities. It is important to replace unhealthy coping behaviors with healthier ones, such as exercise, spending time with friends who don’t gamble, and relaxing activities. Creating a support system and getting help from loved ones can also be extremely beneficial during this time.

Attempts to treat pathological gambling have had mixed results, with some therapies showing only limited effectiveness. This is partly due to a lack of understanding of the underlying cause of pathological gambling, and partly because of an eclectic mix of therapeutic approaches that fail to address all relevant dimensions of the disorder.

Some people gamble as a social activity, and do not feel that it is problematic if they lose. This is referred to as social gambling or recreational gambling. Whether it is playing poker, going to the races, or betting on sports events, this type of gambling is not considered harmful.