Gambling is anytime you stake something of value, like money or a piece of property, on an event that relies on chance and has a potential prize win. It can take place in casinos, racetracks and other gambling establishments, or even at home with video games. While most adults and adolescents gamble without problems, a small subset of them develop a gambling disorder, which is classified in the Diagnostic and Statistical Manual of Mental Disorders (DSM-5).

Aside from the obvious financial risks of betting on sports or buying scratchcards, there are many other hidden costs associated with gambling. These impacts manifest at personal and interpersonal levels, societal/community levels or both. They include monetary, invisible individual and external impacts that are general, problem gambling related and long-term costs/benefits. Studies that focus on problem gambling only, often overlook other negative effects of the activity and underestimate the costs to society.

In addition to affecting people’s finances, health and relationships, gambling can also contribute to crime, homelessness, poverty and suicide. It is important to understand the various impacts of gambling so that we can improve our prevention and treatment efforts, as well as help educate the public about how to recognize a gambling addiction.