The effects of gambling have been primarily studied from an economic perspective, focusing on the economic and societal costs of gambling. The impact of gambling on society has been less studied, with most studies focusing on North America. However, the social consequences of gambling are also important. Small businesses are especially vulnerable to the negative effects of gambling, particularly in terms of staff retention, inflation, shop rents, and operating costs. Here are some examples of the negative impacts of gambling on society.
Firstly, it is important to understand what causes the person to gamble. Gambling is usually considered a fun social activity or novelty but can become increasingly important without a person’s knowledge. Over time, the amount of time spent gambling can increase without the person’s knowledge, resulting in increased stress. It is crucial to identify the cause of gambling problems, as this will help change behaviour. Additionally, a number of organisations exist to offer counselling and support to individuals with gambling problems and their family.
The costs of gambling are difficult to quantify, but they are worth considering. Research into gambling’s benefits has focused on the negative effects of problem gambling. However, this approach fails to recognize the positive benefits of gambling, which have been neglected by previous studies. The economic cost-benefit analysis considers not only the negative impacts of gambling, but also the benefits it brings to a community. In addition to the economic impact, gambling may bring social benefits as well.