Gambling is the act of risking something of value, usually money or personal possessions, on an event whose outcome is uncertain. This is done in a variety of ways, such as by betting on sporting events, buying lottery tickets, placing bets on horse races or playing card games. It is important to note that gambling can lead to addiction and can have negative impacts on family, friends and work colleagues. In some cases, it can even lead to a person going into serious debt or to homelessness. It can also damage a person’s health and wellbeing, as well as cause behavioural problems, such as substance abuse or gambling-related depression. The good news is that there are many organisations that offer support, advice and treatment to people who have a problem with gambling.

A person’s motivation for gambling can vary, depending on their age, gender, sex, culture, and the type of gambling activity that they participate in. Some people gamble for fun, while others do it as a way to relieve stress or boredom. Regardless of the motivation, it is important to remember that gambling can be addictive and cause harm, particularly when it involves chasing losses or thinking that you are due for a big win. This is known as the “gambler’s fallacy” and can be extremely dangerous to your finances and your personal well-being.

While there is no single definition of gambling, most experts agree that it is an activity whereby a person puts something of value at risk in the hope of gaining something of equal or greater value. There are many types of gambling, including sports betting, horse racing, video poker and lotteries. While it may seem harmless, there is a growing body of evidence that shows that gambling can have many negative consequences for individuals and their families, including financial difficulties, health and well-being issues and relationships.

Problem gambling is an increasing concern, with over half of the UK population admitting to having a gambling problem. It can harm a person’s physical and mental health, disrupt their relationships, affect their performance at work or school, leave them in serious debt and even result in suicide. This is why it is vital that the impact of gambling is assessed at an individual, interpersonal and community/societal level.

However, different methodologies exist for assessing gambling impacts. For example, a cost-benefit analysis approach measures changes in well-being and can use health-related quality of life weights (or disability weights), which are commonly used in alcohol and drug research. It is also possible to assign monetary value to intangible harms and benefits, which are more commonly used in health-related research, or to the social costs of problem gambling. Ultimately, this article reviews complementing and contrasting approaches in order to produce a conceptual model for analyzing gambling impacts from a public health perspective.