The Economic Costs and Consequences of Problem Gambling


While gambling is not a healthy habit, it can be an outlet for boredom and stress. There are economic costs associated with problem gambling, as well as negative health consequences. If you are a parent who is worried about their child’s gambling habit, you may want to talk to your children about these facts. Children need to be aware of the economic costs and risks associated with gambling. Educate them about gambling odds so they understand the risk associated with it.

Problem gambling

Problem gambling is a dangerous behavior, which can lead to financial ruin, legal problems, and even suicide. As a matter of fact, the American Psychiatric Association (APA) defines the term as “gambling addiction” when it causes a person to spend more time and money than they should. These individuals may lie about their gambling habits or spend more time planning the next gambling opportunity. Fortunately, there are ways to recognize when you’re exhibiting symptoms of problem gambling and seek help.

Most problem gambling treatments involve counseling, step-based programs, self-help techniques, and even medication. Of these approaches, however, there is no clear winner. Currently, there is no medication that has been approved by the FDA for pathological gambling. But it is not impossible to find a treatment that is right for a particular individual. It is important to remember that there are many different types of gamblers and that the type of treatment chosen should be based on the gambler’s circumstances.

Economic costs of gambling

The economic costs of gambling have been calculated in two ways: bottom-up and top-down. The bottom-up approach combines the number of affected gamblers with the average unit costs per person. In Sweden, the cost of problem gambling was estimated at EUR1419 million in 2018, with direct and indirect costs comprising more than half of the total cost. The top-down approach takes a different approach, focusing on societal costs.

The cost of gambling is most easily quantified in direct terms, but the intangible costs may be even more severe. These losses may include reduced quality of life, including threats of violence by loan sharks. A Swelogs survey asked about physical violence against gamblers and loan sharks and the estimated number of victims was 10,500. This overestimate of economic costs is also indicative of the social costs of gambling. Further, the study showed that a significant proportion of these costs were caused by debt and credit card debt.

Health consequences of problem gambling

The consequences of problem gambling extend far beyond the economic and social costs of increased stress and depression. They also affect relationships, reduce exercise, and impair sleep patterns. Problem gamblers also risk their safety by engaging in acts of crime and using unorthodox methods of funding. The negative consequences of problem gambling are often more difficult to see than its positive effects. Listed below are some of the more common negative consequences of problem gambling. These consequences may be difficult to see, but they are real.

Problem gambling is a public-health issue, especially for young adults. The costs to society are substantial. Sweden, for example, has banned gambling for persons under eighteen years old. Other countries, such as Finland, have taken similar steps to prevent problem gambling. Some countries, such as Canada, have imposed laws against gambling for underage individuals. It is not known how many problem gamblers actually have problems with their relationships, but the health consequences are significant.