The Economic Costs of Gambling


Gambling is an activity that involves a certain amount of risk. It can be fun, but it’s also important to understand that you have a chance of losing money. It is important to budget your gambling expenses, and to only gamble with money that you can afford to lose. You should never use money that you need for bills, food or rent. If you find that gambling is causing you harm, it is recommended to seek professional help. Cognitive behavioural therapy (CBT) can be an effective treatment for people with gambling problems. It teaches people how to challenge irrational beliefs, like believing that certain rituals or patterns can bring them luck or that they can win back their losses.

CBT can also help people to identify and deal with underlying mood disorders that can contribute to problem gambling. Depression, anxiety and stress can all trigger or make gambling problems worse. It is also important to address any debts that you may have. If you are struggling with debt, you can speak to StepChange for free and confidential advice.

It is difficult to determine the economic costs associated with pathological gambling. It is often a matter of intangible social and productivity costs that are difficult to measure. Furthermore, many of these costs are not directly related to gambling. For example, the accumulated debt of pathological gamblers is not a cost to society in the same way as the transaction costs of their bankruptcy proceedings or civil court actions.