Gambling is an activity that involves wagering something of value (money, property or anything else) on a random event with the intention of winning a prize. There are many different types of gambling, some of which involve more skill than others. For example, a player in a casino game such as blackjack must consider a number of different factors before making a decision, and then execute a complex strategy to achieve his or her goal. In addition, playing a game that requires skill can help strengthen the brain’s cognitive function.
While a majority of people who gamble do not develop gambling disorder, this activity can have negative impacts on individuals’ finances, relationships, careers and health. Some of these impacts can be quantified and measured, while others cannot be easily evaluated. In the past, most studies have focused on quantifying economic costs or benefits of gambling. However, these studies have ignored social impacts, which are difficult to measure in monetary terms.
Social impacts of gambling can include changes in personal or interpersonal relationships, such as the effects of gambling on an individual’s family or friends. These changes may also be reflected in the workplace, where they could result in lower productivity or increased absenteeism, as well as in increased expenditures on things like healthcare and childcare. In addition, social impacts can include changes in a person’s quality of life, which can be measured using disability weights, known as health-related quality of life (HRQL) weights.