Gambling is the act of risking something of value – for example money – on an event that has some chance of occurring. It can occur in a wide variety of settings including casinos, racetracks and on the Internet. Some people may be able to control their gambling but others cannot and it can lead to problems such as addiction, family and financial difficulties. Problem gambling can also lead to criminal activity, health issues and other serious consequences.

Some studies are attempting to quantify the benefits of gambling by measuring consumer surplus, the difference between what a gambler is willing to pay and the cost of an opportunity to gamble. This approach has several limitations however, and is not considered to be a balanced measure of the benefits of gambling.

In addition to its monetary benefits, gambling can have positive impacts at the social/community level when the proceeds are directed towards beneficial purposes such as community services and environmental protection. These effects can have lasting impact. Gambling also provides opportunities for some individuals to develop skills and experience that can be used in other areas of their lives such as learning how to manage risk and improve decision-making.

The main risks associated with gambling are the potential for gambling to become an addictive behaviour. Problem gambling can affect anyone regardless of economic status, age, culture or levels of education and it can impact family members and communities. People with certain medical conditions are also at a higher risk of developing problems. Problem gambling can have long-term adverse consequences and it is important that people who have a problem seek treatment as soon as possible.

Gambling can be fun and enjoyable if it is done responsibly, within one’s means and for recreational purposes only. However, it is important to note that gambling should not be a substitute for other activities which could provide more fulfilling and healthy ways of coping with life’s stresses and boredom such as exercising, spending time with friends who don’t gamble, taking up new hobbies and practicing relaxation techniques.

The development of a conceptual model of the impacts of gambling helps in the locating of research gaps and it provides a basis for developing common methodology to evaluate the social impacts of gambling. These impacts are categorized into classes of benefits and costs: financial, labor/health and well-being and community/societal. The latter are non-monetary in nature and have been given less attention in studies. In addition, a large part of the research has focused on gross impact studies, which are narrow in their focus and do not pretend to offer a balanced perspective. This type of study should be replaced by a more comprehensive assessment of the social impacts of gambling, particularly those that are non-monetary in nature. This will require the inclusion of a wider range of data sources and a more rigorous analysis of the benefits and costs of gambling. This will also allow for a better understanding of the relationship between these types of impacts and other socio-economic issues.