Gambling is a form of risk-taking where someone stakes something of value (money, property, possessions or other valuable things) on an event with the purpose of winning something else of value. It includes activities like card games, fruit machines, two-up, bingo and sports betting such as football accumulators. The activity also involves speculating on business, insurance and stock market events. Gambling can take place in a variety of settings including casinos, racetracks and online.
Many people gamble for social, entertainment and financial reasons. The main reason is to win money, but the other reasons can include a desire for a thrill, an adrenalin rush and a sense of anticipation that results from risk taking. In some cases, gambling can be a way to avoid dealing with real life problems, such as stress, depression, grief or boredom. Some individuals find it easier to cope with these challenges by engaging in gambling activities, which are often portrayed by the media as fun and glamorous.
Researchers have used different approaches to studying the impacts of gambling. Most studies focus on the economic costs and benefits, which are quite easily quantifiable. However, social and personal/interpersonal impacts of gambling have been less well-studied. These impacts affect those who engage in gambling as well as others who do not. Interpersonal and community/societal level impacts may include externalities, such as the effects of gamblers’ increased debt and financial strain on family members, or escalating into bankruptcy and homelessness.