Gambling involves risking something of value, typically money, on an event with a variable outcome based on chance. The games can be played with a variety of objects, including coins, dice, cards, lottery tickets, slot machines, video poker, sports betting, races and animal tracks, bingo, instant scratch-off tickets, and other activities. The activity can lead to positive effects for some people and communities, such as increased tax revenues, tourism, and job opportunities. It can also increase socialization and help develop skills such as pattern recognition, critical thinking, maths and arithmetic. Some games require more than one player, which can foster teamwork and cooperation.
However, gambling can also be problematic. For some individuals, it becomes an addiction that negatively impacts their life and health. In addition, it can exacerbate underlying mood disorders such as depression or stress. Those who gamble are most susceptible to developing a gambling disorder, particularly young people and men. Those who live below the poverty line are also more likely to develop a problem, as they may have more to lose.
The benefits and costs of gambling are complex, involving both the personal and interpersonal levels and impacting other parts of society. This article reviews complementing and contrasting methodologies to produce a conceptual model for assessing the impact of gambling on society. In particular, it explores methods for incorporating social impacts in cost-benefit analyses using quality of life weights, commonly used in alcohol and drug research, or monetary values for intangible harms and benefits.