While gambling may be a recreational activity for many, it can also have adverse effects on a person’s health. It also takes time away from other activities and may even cause a person to become bankrupt. Furthermore, problem gambling can affect a person’s community and society. People who are bankrupt because of their gambling activities cause an economic burden on their families and create social care costs.
The economic and social impacts of gambling can be measured by a public health approach. These impact assessments look at how gambling affects individuals and society, as well as the costs and benefits incurred by the public. This approach is particularly helpful for assessing the long-term effects of gambling, which are difficult to measure in monetary terms.
Although the economic effects of gambling are well-documented, the social impacts are largely ignored in studies on the topic. Most studies of the effects of gambling have focused on the positive impacts on society, such as increased taxes and more jobs. However, there are a few studies that have looked at the negative effects. These studies use health-related quality of life weights, or disability weights, to measure the social costs of gambling on individuals and their networks.
While the economic and social costs of gambling are easily quantified, there are also many hidden costs that are less obvious. Social costs can include emotional stress and relationships that are negatively affected by gambling.