Gambling is a widespread international activity that includes betting on sports and events, playing lotteries, video games with gambling elements, and casino or horse racing betting. It is often conducted with money, but can also involve materials that have value such as marbles or collectible game pieces like pogs and Magic: The Gathering cards. Regardless of its form, gambling is an important part of the global economy and can help local economies in many ways.
The social costs and benefits of gambling can be understood using a model where impacts are structured into classes: financial, labor and health and well-being. These classes manifest on personal, interpersonal and societal/community levels.
Financial gambling effects include gambling revenues and their impact on economic growth. These effects can also include changes in financial situations, including debt and income. Labor and health/well-being gambling effects include work-related changes in productivity, absenteeism, and job losses and gains. This class also includes changes in physical, psychological and social well-being and life satisfaction.
Problem gambling is a serious mental health issue that can cause significant harm to an individual and their family. It affects people of all ages and backgrounds and can have long-term consequences for their health, employment, relationships and family life. In addition to the obvious financial cost, it can lead to social and emotional problems such as anxiety and depression. It may also lead to illegal activities such as forgery, fraud and theft. Many people who have a gambling addiction find it difficult to give up, and they may lie to their families or therapists to conceal the extent of their involvement.