Gambling is risking money or something else of value on an event involving chance, such as a game of sports or a lottery ticket. If you win, you get the prize money; if you lose, you forfeit the amount you bet. People with gambling problems can become obsessed with the activity, leading to a variety of negative social and psychological consequences. These include feelings of guilt, anxiety, depression, and a reduced sense of self-worth. Those with severe gambling addictions may also lie to family members, therapists, or others to conceal the extent of their involvement with gambling; commit illegal acts, such as forgery, fraud, theft, or embezzlement; and jeopardize relationships, employment, educational opportunities, and financial security. In extreme cases, they might resort to drug or alcohol use to mask their symptoms.

It is possible to recover from a gambling problem, but the process is challenging and requires a lot of willpower. If you have a friend or relative with a gambling problem, offer your support and encouragement. You can also find help from self-help groups such as Gambling Anonymous, which is based on the 12-step recovery program used by Alcoholics Anonymous. You can also seek professional treatment, such as cognitive behavioural therapy (CBT). CBT examines your beliefs about betting, including that certain rituals bring luck and that you can overcome bad losses by betting more.

While it is important to address the financial issues related to gambling, it is also vital to make sure you have other things in your life that provide enjoyment and meaning. Having a hobby, for example, can give you something to look forward to and take your mind off gambling. Joining a club, such as a book or sports club, can also provide a social outlet. Alternatively, you could consider volunteering or enrolling in an education course.

Although the majority of research on gambling has focused on its economic impacts, there are a number of challenges associated with measuring social impacts. One of the most serious is that many social costs are invisible and therefore difficult to measure, as they do not involve monetary expenditures. It is also challenging to establish a definition of what constitutes a social cost or benefit, as this can vary from study to study.

Despite these difficulties, longitudinal studies are becoming increasingly common. This type of research is valuable in identifying patterns over time that may not be apparent in cross-sectional data. However, longitudinal studies are not without their limitations, such as the massive financial commitment required and the difficulty of maintaining a research team over a prolonged period; sample attrition; and the fact that some individuals change their gambling behavior as they age or move to new areas.

Some researchers have tried to quantify social impacts by examining consumer surplus, but this approach is problematic as it attempts to place a monetary value on something that is clearly non-monetary. Other methods for assessing social impact have included using indicators such as increased crime, deterioration in public services, or declines in community cohesion.