Gambling is a risky activity that involves putting something of value on a random event with the intent of winning something else. Gamblers can be highly vulnerable to impulse-control disorders and financial ruin. Their behavior can also endanger their families and create conflicting emotions. While gambling has some positive aspects, it can also lead to many negative consequences.
Problem gamblers are at risk for impulse-control disorders
Several factors are at play in the development of problem gambling, including genetic predisposition. Impulsivity is a common trait that plays an important role in this disorder. In addition, coping strategies may be involved in problem gambling. The study of impulsivity found that both task and emotional coping were positively associated with problem gambling. However, impulsivity alone is not enough to cause the problem. Other factors, such as socioeconomic status, can also contribute to gambling addiction.
They are at risk for financial ruin
A common concept in finance, insurance, and gambling is the idea that gambling can lead to financial ruin. The risk of ruin increases with the number of bets placed and is exacerbated by persistent play.
They can have a negative impact on their communities
There are several studies assessing the economic impacts of gambling, but only a few of them take an integrated approach to examine the effects of gambling on society. Most focus on the costs of gambling, with little emphasis on the benefits of the activity. Gross impact studies provide an oversimplified accounting of the total effects of gambling, but they do not consider the social costs or expenditure substitution effects. They also do not account for the difference between direct and indirect effects, or tangible versus intangible costs.