Gambling is an activity where people wager something of value, such as money or goods and services, on a random event in order to win something of value. There are different types of gambling, including casino games, lotteries, sports betting, and skill-based games. In addition, individuals can also gamble with materials that have a value but are not money, such as marbles or collectable game pieces (such as Magic: The Gathering and Pogs). Gambling can have negative effects, especially when it becomes addictive. But it can also provide social interaction, psychological development, and economic benefits. It is important to understand the risks of gambling and how it can affect you, and then take steps to prevent it from becoming a problem.

Negative impacts of gambling include: (1) financial, which can lead to debt and bankruptcy; (2) work, which can result in lost wages; (3) health, which can cause depression or anxiety; and (4) family/society, which can have negative consequences on other members of the household. These effects are often underestimated and can lead to a loss of self-worth. People gamble for a variety of reasons, from the adrenaline rush of winning to socialising or escaping from stress and worries. But it is important to recognise the signs and symptoms of gambling problems, which include: (1) being unable to control how much you bet or lose; (2) lying to family members or therapists in an attempt to conceal gambling involvement; (3) returning to gamble again after a loss in the hope of recovering losses (chasing); and (4) relying on others for money to finance gambling activities.

Various methods have been used to examine the effects of gambling, but longitudinal research is considered to be the most appropriate. This approach enables researchers to identify factors that moderate and exacerbate an individual’s gambling participation, and thus allow for inference of causality. It also provides a large database that can be used by researchers across many disciplines. It is the most cost-efficient way to conduct sorely needed research into gambling’s impacts.

Although many studies have investigated gambling’s impacts on the individual, fewer have focused on its impacts at the interpersonal and community/society levels. These impacts are difficult to measure and have often been ignored in calculations, because they are not monetary. The methodological challenges in examining these impacts are similar to those for estimating the personal/interpersonal impacts of gambling.

Moreover, there are several challenges associated with longitudinal studies of gambling that need to be addressed before such research can become more commonplace. These challenges include: the difficulty of maintaining research team continuity over a long time period; sample attrition; and confounding issues, such as aging and period effects (e.g., whether a change in gambling behavior is due to a particular age or because a new casino opened nearby). In spite of these obstacles, longitudinal research into gambling has been increasing. As the field evolves, it is becoming more sophisticated and theory based.