Gambling involves risking money or something of value on a game involving chance, such as betting on a football team to win a match, or playing scratchcards. The gambler chooses a selection of possible outcomes and matches them to ‘odds’, which are set by the gambling company – for example, 5/1 or 2/1. If they predict the outcome correctly, they win money. If they don’t, they lose it.

Gambling is a fun and exciting pastime in moderation, but it can have negative impacts on health, work performance, relationships, family life and the wider community. People with an unhealthy relationship to gambling can experience serious problems, including financial difficulties and debt. Problem gambling can also exacerbate existing mental health conditions, such as depression and anxiety.

Gambling is also good for the economy, providing jobs in casinos and other gambling venues. It generates revenue for governments, particularly in regulated markets, which can be used to improve infrastructure or public services. It also creates jobs for hosts, hostesses, software developers and designers, dealers, pit bosses, bookmakers and racing stewards. In addition, it helps people socialize and meet new people with similar interests. For example, a person who is a fan of horse racing can become friends with other fans over their shared love of the sport.