The Risks and Consequences of Gambling
Gambling is an activity in which people place a value on the outcome of a random event with the intention of winning something of value. It is a form of entertainment and can also serve as a way to socialise with friends. However, gambling can also lead to negative consequences if it is not controlled. It is important for gamblers to understand the risks associated with gambling and to take steps to reduce their risk.
There are a number of impacts that can occur from gambling activities, including negative financial, labour and health effects as well as social and community impacts. These impacts can be observed at personal, interpersonal and societal/community levels (see Figure 1). Personal and interpersonal level impacts are those that affect gamblers directly while community/societal level impacts are those that involve other people not involved in gambling. Community/societal impacts can include general costs and benefits, costs related to problem gambling and long-term costs.
The most visible negative impact of gambling is that it can cause financial hardship and bankruptcy. However, gambling also increases the risk of other problems such as drug and alcohol abuse, depression, family break-ups, crime and suicide. In addition, it may increase stress and tension in the family and workplace, which in turn can lead to other problems such as relationship difficulties, poor concentration and low self-esteem.
Research shows that some individuals are genetically predisposed to thrill-seeking behaviours and impulsivity. In addition, they may have a reduced ability to weigh risk and reward. They may also have a more difficult time recognising their gambling as a problem when compared to others. Culture can also play a role in how individuals view their gambling habits, with some communities deeming it a common pastime that is not seen as a problem.
Many gambling venues are multi-million dollar businesses that employ a large number of employees ranging from dealers and odds compilers to marketing and public relations staff. To stay in business, gambling companies must generate a high volume of turnover and have a healthy profit margin. This can be achieved by having big-ticket jackpots or reducing their margins to attract more customers.
If you have a problem with gambling, it is important to talk about it with somebody who will not judge you, such as a friend or a professional counsellor. There are ways to help you reduce your addiction, such as talking therapy and finding new socialising activities that don’t involve gambling. You can also control your finances by using credit cards responsibly and carrying less cash with you. It is also helpful to set short-term and long-term goals, such as cutting down your gambling or stopping it altogether. If you have trouble tackling your addiction alone, consider ing a peer group such as Gamblers Anonymous. For more information about gambling and addiction, visit the Better Health Channel fact sheet ‘Gambling’. You can also get help by talking to your doctor or psychologist.
