Impacts of gambling on people can be classified into two categories: positive and negative. The positive impacts are related to personal and interpersonal aspects of gambling, while the negative impacts are related to society/community. External impacts involve economic and social development. Other types of impacts are associated with problem gambling, and include both short and long-term effects. These are discussed below. Using a conceptual model, these impacts can be classified into their positive and negative effects and their respective cost-benefit analysis.
Many people struggle with problem gambling. While this behavior can be a lot of fun when done in a casual manner, it can be dangerous when it becomes a chronic problem. Problem gambling is considered a “hidden addiction” because it often has no obvious outward signs. Symptoms include loss of money, negative behaviors, and tension. Unfortunately, compulsive gamblers don’t know they have a problem and are in denial about their problem. Admitting to yourself that you have a problem is the first step towards solving it.
Work-related costs of problem gambling
The economic impact of problem gambling has been widely studied, but there is no single study that quantifies all of its societal costs. Problem gambling is similar to other addictive behaviors in that it has high indirect and intangible costs. As a result, a stronger focus on prevention and treatment would significantly reduce these costs. While no single study has quantified the full costs of problem gambling, a number of other studies have come close.
Impacts of gambling on small businesses
Many small businesses face the impact of pathological gambling, which can lead to significant financial costs for the business. It is estimated that the average pathological gambler costs society about $13,200 a year. Businesses across all sectors of the economy will experience some form of impact, but small businesses may be particularly vulnerable. Pathological gambling has several implications for the business, including decreased productivity, reduced employee morale, and increased costs for training and rehabilitation.
Economic cost-benefit analysis
The economic cost-benefit analysis of gambling must take into account both the costs and benefits of the gambling industry. For example, a casino can reduce local unemployment, but the reduction is greater than statewide. There are numerous studies indicating that casinos increase employment, but only a few have looked at the effects on individuals outside of the gambling industry. The economic benefit of gambling is difficult to quantify, but it is apparent that the effects on individuals are positive.
Social costs of problem gambling
The relationship between problem gambling and crime has long been debated, but estimates vary significantly. About two-thirds of individuals with a gambling problem will commit crimes, most of which will involve embezzlement or theft of goods. Such crimes are also often associated with insurance fraud and credit card theft. Crimes committed to support problem gambling can result in large costs for society, including police, trial, and incarceration costs. In addition to the financial costs of gambling, problem gambling can also lead to poor eating habits, strained relationships, and failure to meet obligations and deliver promises.