The economic costing approach to understanding the negative impacts of gambling has been a popular method of analyzing the effects of gaming. This method focuses on calculating the costs of gambling in a common unit of measure, such as dollars. However, this approach does not take into account the benefits that gambling has on society. Often, harms associated with gambling are under-estimated, including those to individuals and society. For this reason, it is important to understand both the positive and negative impacts of gambling.
The financial costs of gambling have several manifestations. The social and interpersonal impacts of gambling are primarily non-monetary. The economic costs of gambling are manifested in tourism revenues, changes in property values, and the impact of problem gambling on other industries. The social costs of gambling are often unrecognized, as they are hidden from the public. Furthermore, the health costs of gambling can affect the health and well-being of individuals. Thus, it is essential to examine the impact of gambling on the public’s health and well-being.
The motivation for gambling can differ for different consumers. For some, it is an opportunity to win money, while others may use gambling as a way to escape from a problem. This latter scenario is especially prevalent among problem gamblers. But, research has shown that gambling can have positive effects on the individual’s mental and physical well-being. A recent study of gambling participants showed that a number of people who gambled reported better health than those who did not gamble.