Gambling is an activity that involves taking a chance on an outcome. It is a common recreational activity that has been around for centuries, and it continues to be an integral part of many societies worldwide today. While gambling has its critics, it is also a way for people to have fun and win money. In addition, it has several benefits to society.
Gambling evokes a wide range of human emotions and behaviors. Some people are drawn to the fantasies of riches and moments of grandeur while others are sucked into the downward spiral of debt, crime, and personal devastation. This activity has spawned pro- and anti-gambling movements throughout history, and each side presents its own unique arguments about the pros and cons of gambling.
While it is obvious that gambling has negative social and economic consequences, the benefits are less well-known. Gambling can promote community involvement and contribute to a healthy economy. It can create jobs and boost tourism, as well as provide funding for infrastructure improvements. In addition, the money that gamblers spend on food, drinks, and other entertainment in casinos can stimulate local economies.
Moreover, casino operators may support the local economy by investing in business development initiatives and charitable projects. Similarly, gambling taxes can generate funds that are used for local education and health services. Furthermore, a significant proportion of gambling revenues can go towards the prevention and treatment of problem gambling. These investments can help reduce crime and increase the quality of life for citizens.
However, the vast majority of research on gambling impacts has focused on its costs and is rooted in a neoliberal perspective of market efficiency. Moreover, it has largely ignored personal, interpersonal, and community/societal level impacts that are nonmonetary in nature. In this article, we seek to address these gaps and develop a methodology that will allow researchers and policy makers to examine the full range of costs and benefits associated with gambling.
To achieve this, we have developed a conceptual model that allows us to distinguish between financial and non-financial impacts. We have identified three classes of impacts: financial, labor and health/well-being, and community/societal. This approach is based on the definition of social impact by Williams and Barnett [32], which is that they are costs or benefits that aggregate societal real wealth and affect only a small number of individuals.
This article uses existing theoretical and empirical literature to form a structure that can be used to locate individual pieces of evidence. It highlights where more research needs to be conducted, such as examining the social and economic costs of gambling on family members and other significant others, as well as looking at the long-term costs of problem gambling. Filling these gaps will enable a balanced evidence base on the social and economic costs and benefits of gambling, which could then be used to inform public policies. Moreover, it will help in establishing an agenda for future research and a common approach to this complex issue.