Gambling involves risking something of value (money, time, energy, health) for a chance to get more valuable in return. It can be a lot of fun and can also have harmful effects. Problem gambling can affect mental and physical health, relationships, performance at work or study, and can lead to debt and even homelessness. It can also be expensive for the gambler and their family.

People who enjoy gambling often experience a mixture of pleasure, excitement and social connectedness. The brain releases dopamine, the feel-good neurotransmitter, when a gambler wins. But gamblers can also be happy when they lose, even if they spend more than they win. This is because of how their brain is wired, and how they perceive the risks of gambling.

For the many who gamble responsibly, it can be a way to experience the world in a different way, a break from everyday reality. This escapist effect is not always a good thing, but for some it can be a way to temporarily change their relationship with the world. It is also a place to be generous, and casinos are one of the few places where it is common to see people of all ages come together, celebrate successes, and help each other out.

However, gambling has significant social impacts that can be hard to measure and are usually ignored. These are called social costs and benefits. They can be measured from a public health perspective using disability weights, which measure the burden of health states on quality of life (DW), or from an economic cost-benefit analysis, where monetary values are assigned to intangible harms and benefits (Walker and Barnett, 2008). Universal pre-commitment systems that allow people to set binding limits on their time and money spent gambling and self-exclusion are the most effective at reducing gambling harm.