Gambling involves placing a wager on an event with an uncertain outcome, such as a football match or scratchcard. The event is matched to ‘odds’, which indicate how much money you can win if the event happens.
Many studies have focused on the economic impacts of gambling, and these have largely been quantified by looking at average household incomes and spending patterns. However, societal/community level costs and benefits have been less well researched. In particular, examining the effects of gambling on community/societal quality of life can be difficult as they are not easily quantifiable.
While gambling can be a fun and entertaining activity, it is also important to remember that it is not a lucrative way to make money. In fact, most people that gamble lose more than they win. For this reason, it is essential to start with a set amount of money that you are willing to lose and not go beyond this limit.
It is important to remember that gambling has a number of negative health and social consequences. Some of these include: