Gambling has many effects on society and the individual. These impacts are usually broken down into three classes – financial, interpersonal, and societal. Financial impacts are most evident in terms of gambling revenues, tourism, and other industries – and also include changes in financial situations and property values. These impacts contribute to the overall economic activity. The other two categories of impacts are health and well-being, which refer to the impact on physical and psychological health. This article will discuss some of the most common negative effects of gambling.
Social acceptability
There is an increasing societal acceptance of gambling. There are increasing numbers of females participating in gambling activities, and research is increasingly using more female participants to understand the effects of gambling on problem gambling. Increased accessibility and media portrayal are two of the most significant factors that promote gambling, and social acceptability of gambling may be an important factor. In addition to increasing accessibility, increasing social acceptability of gambling may also increase the risk of problem gambling among adolescents.
Costs
Problem gambling can have a significant negative effect on a workplace. It can cause employees to take extended breaks, spend time on the phone, or engage in other emotional distress while working. These are direct costs, while indirect costs are costs that occur when workers do not produce as much work as they would have. Researchers in Quebec have determined that problem gambling can cost a workplace about five hours of lost production per month. The study estimates that the cost of lost production is equal to the gross salary of a worker earning thirty thousand dollars a year, plus the social security contributions of the person. However, they do not include the costs associated with transfer payments within the social security system, which may cause double counting.
Benefits
The economic benefit of gambling is one of the main arguments for its expansion. However, critics say these benefits are grossly overstated. Gambling benefits are only realized if people who visit a casino spend money there. Therefore, any benefit from gambling cannot be justified on the basis of net economic gain. There are also social costs associated with gambling expansion that must be considered. The National Gambling Impact Study Commission notes that the social costs of gambling expansion are too vague and unmeasurable to draw any firm conclusions.
Long-term effects
Problem gambling is associated with high levels of stress, which can worsen a person’s health and relationships. Gamblers may experience increased spending, use borrowed money, and steal money. Their jobs may also suffer. In addition, a person’s relationship with their partner may suffer. The long-term effects of gambling are not yet known, but the effects can be severe. Here are some of the most important consequences of gambling:
Cost-benefit analysis
While some claim that Americans have always gambled, others argue that this recent surge is evidence of a new addiction. In 2007, they lost $92 billion on gambling, up from $48 billion in 1982, according to a new book, High Stakes: The Rising Cost of America’s Gambling Addiction. In the same period, the number of Americans who frequent legal gambling halls grew by 20 million. Proponents of gambling often point to the fact that gambling has been around for centuries, but according to a recent cost-benefit analysis by Baylor University economist Earl Grinols, the benefits of gambling are insignificant.