Gambling is any game of chance or skill in which you stake something of value for the potential to win something else. It can be as simple as betting on a horse race or playing the lottery or as complicated as sports betting or DIY investing. Whether it’s online or offline, gambling is everywhere. Despite its popularity, many people struggle with the addiction to gambling. Fortunately, help is available.

Gambling has major social and economic impacts on gamblers, their significant others, and society. These effects are not usually captured in traditional cost-benefit analyses, which focus on the monetary costs and benefits of gambling. However, these effects are important when considering gambling policies.

Traditionally, social impact analysis has focused on personal and interpersonal levels and has ignored the broader societal effects of gambling. To better capture these social impacts, this article uses a framework that combines traditional cost-benefit analysis with health and well-being metrics. The framework includes three classes of impacts: financial, labor and health, and societal well-being.

Gambling’s societal impact is positive in the sense that it generates revenue and jobs in local communities. It also helps to improve the economy by encouraging tourism and stimulating other industries. In addition, it provides an avenue for people to connect with one another and participate in activities they enjoy.

The majority of people who gamble do so responsibly, finding it an entertaining diversion or source of fun. But a small percentage develop a problem, leading to significant negative personal and family life consequences. This group includes people with low incomes, who tend to gamble more for the “high” of winning big, and young men and women, whose brains may be predisposed to developing a gambling disorder.

Some societal impacts of gambling are not visible to the individual, such as the loss of control over finances or a decrease in quality of life. These hidden costs are often the result of an underlying psychological issue. In these cases, it is best to seek professional help.

To prevent a gambling addiction, it’s important to identify the underlying cause. For example, if you’re gambling to self-soothe unpleasant feelings or as a way to relieve boredom or stress, try healthier ways to do so, such as exercising, spending time with friends who don’t gamble, or taking up new hobbies. Likewise, if you’re gambling to deal with depression or anxiety, seek mental health treatment and reach out to your support network for help. For severe addictions, you might consider joining a peer-support group such as Gamblers Anonymous, which is based on the model of Alcoholics Anonymous. These groups can provide valuable guidance and help you overcome your addiction. They can also refer you to local referral resources. Ultimately, the key to beating any type of addiction is getting help.