Gambling is an activity where individuals place a bet on a certain event. This event can be a football match, a lottery or even a scratchcard. The bet is based on odds that are set by the betting company. The odds are a ratio between the probability of winning and the amount that one can get if they win. This process requires skill and knowledge, which is why many people consider it a game of skill. It also helps keep the brain active and improves memory and decision-making skills.
In a world that feels increasingly fast, judgmental and disconnected, gambling can offer a bubble of focus, a feeling of connection and the deep, human thrill of possibility. It is not about escaping reality but creating a different relationship with it for the moment.
Behavioral researchers have often ignored the social effects of gambling, instead opting to measure only economic costs or benefits that are fairly easy to quantify. However, such an approach is biased and overlooks the fact that gambling has many social impacts which are not easily measured despite their importance for gamblers and their significant others.
At the personal and interpersonal level, gambling impacts are invisible and include costs that do not aggregate societal real wealth, including hidden harms, costs related to problem gambling and long-term costs. At the society/community level, they include externalities that influence gambling revenues, tourism or other industries and cost or change infrastructure.