Social Impacts of Gambling
Most studies of gambling have overlooked the social impacts of the activity. They have primarily focused on economic costs and benefits. These studies have not defined social impacts, so we will instead use the definitions given by Williams et al. and Walker and Barnett. In essence, social costs involve harming someone while benefiting no one else. The costs are therefore social rather than personal, and should be considered as part of the overall gambling analysis. The results of these studies may have important implications for the future regulation of gambling.
Problem gambling affects both the individual and his or her family. It can affect a person’s finances, relationships, and career, and it can also lead to legal issues. Although problem gambling may begin as a minor addiction, it can worsen over time. Formerly known as pathological gambling or compulsive gambling, problem gambling has now been officially classified as Impulse Control Disorder (ICD) by the American Psychiatric Association.
Addiction to gambling
Often, people who suffer from a gambling addiction don’t seek treatment until a problem escalates. While it’s important to acknowledge that you’re having problems, a gambling problem will only worsen if you don’t address it. There are several effective treatments available, which focus on improving impulse control and enhancing self-esteem. You may also benefit from methods that help build inner resources and prevent relapse.
Financial harms of gambling
There are many financial harms related to gambling, and some are more severe than others. For example, in Queensland, 83% of problem gamblers reported financial problems, and the proportion of those affected by the problem was almost as high. In Finland, 8% of people reported financial harms related to gambling, while 87% of treatment-seeking gamblers reported similar problems. The financial harms associated with gambling range from diminished savings and investment opportunities, to the total cost of crime and suicide related to gambling.
Positive effects of gambling on employment
Studies have demonstrated the financial and employment benefits of gambling, particularly for people who work in the gambling industry. However, few studies have explored the personal labor consequences of gambling. For example, while professional poker players earn a greater wage than their non-gambling peers, most of these studies only consider professional poker players. It is not clear if gambling increases employment opportunities for poker players. But these findings support the idea that the positive effects of gambling on employment can also benefit those outside of the industry.
Impacts of gambling on crime
The growing prevalence of problem gambling is forcing governments to focus on its negative effects on society. But what is the impact of problem gambling on the lives of those closest to the addicts? Statistics show that gambling problem is associated with domestic violence and children of compulsive gamblers are at higher risk of mental health problems. Gambling addiction is not only harmful to the individuals who are affected, but it also affects businesses and innocent bystanders.