Gambling is the act of risking something of value (such as money) based on the outcome of a chance event. This can be done in a variety of ways including betting on sports events, buying scratchcards or playing video games. This activity can have positive or negative impacts on gamblers, their significant others, and society. These impacts can be structured using a framework that categorizes effects into costs and benefits. The costs and benefits are then further classified into three classes – financial, labor, and health/well-being. These classes manifest at personal, interpersonal, and societal/community levels.

The societal impacts of gambling are complex and vary depending on the type of gambling being conducted. For example, charitable and community groups may be dependent on gambling revenues, which can cause them to compete with each other and reduce their ability to provide services. Furthermore, the introduction of new forms of gambling may have a direct impact on existing public services by competing with them for consumer expenditure.

Psychologists and other experts have become increasingly concerned that increased access to gambling will lead to an increase in gambling problems. This is particularly true of the newer forms of gambling such as sports betting and video game-based gambling, which are attracting young people in particular. It is thought that this is because of the appeal of high-stakes, low-cost gambling opportunities, which can make it easier to get addicted. Additionally, young people tend to be more impulsive and less disciplined than adults. This combination makes them more likely to experience a lapse in their plan to quit gambling.